Hi Apex, have seen you post on Chris’s thread, this thread is similar in that we have one singular objective - to learn and to improve our trading.
Re your question, this is a very old and somewhat boring story which will probably generate the usual responses none of which aid in our objective, the opposite, the responses will detract from it.
How do we trade? - hmm… many of us were posting trades as they were happening, giving our thoughts and reasons ‘live’, but I for one now refuse to do that now due to the many negative comments received.
Btw, like many before him and doubtless after him he left Babypips, I suppose like any internet forum people come and people go
So I haven’t read in BP or posted or even traded in about 5 months. Too much with sick family, Hurricane Sandy and other things. Looks like this whole thread went up in smoke and there is a lot of hate around here for ICT.
Apex, there are a lot of great concepts in this thread. ICT pulled his videos but is starting to repost some of them. There is a link to a torrent with his videos somewhere on BP. To save time, most of the postings here are people attempting to apply what they have learned. These posts probably won’t help you. Get a hold of the videos. They are extremely educational.
thanks for mentioning about the vdo’s, ive been looking for them for quite sometime but haven’t had any success. will keep on looking for them. If anyone with the knowledge of that link , could please post it or guide me towards it.
thanks for your prompt reply. much appreciate it. I did come across this torrent before but unable to open it. will try again from home pc.
Many thanks for your help.
I am just wondering if any body here uses the ICT Asian session indicator. I am quite confused about time start and end time I am suppose to put in the indicator. I am in UK, which is at present gmt+1. My current settings are 00:00 to 9:00. I would really appreciate if anyone could help me with it please.
He did a lot of great videos in the second half of 2012 as well. Is there a source for those. Hope the ICT folks took advantage of the Cable short today.
thanks for your prompt reply. much appreciate it. I did come across this torrent before but unable to open it. will try again from home pc.
Many thanks for your help.
I am just wondering if any body here uses the ICT Asian session indicator. I am quite confused about time start and end time I am suppose to put in the indicator. I am in UK, which is at present gmt+1. My current settings are 00:00 to 9:00. I would really appreciate if anyone could help me with it please.
Thank you for your help. when you say you use +1 do you mean you put 00:00 to 6:00 in your indicator since I am trying to use it for LO too. Also do you think that the indicator could different readings if used on different brokers with different Market Watch timings for instance Alpari seems to using GMT +3 and FXCM using GMT timings.
Yep - finishes at 6.00am UK time, I reckon most the London traders getting out of bed that time.
It’s just a quick visual aid for what happened during Asia on the 1 hr for me, also helps me look for s/r, confluences etc. ahead. e.g. 3033 fibre, recent Asian high, next 2 days was a resistance point - happens frequently.
First up glad to see the forum elders are still posting as it would be a great shame to see the thread wither on the vine so to speak. Keep up the good work PeterMa.
Anyhow on to business. I was just writing up my thoughts /scenario analysis for this afternoons NFP (I do this as I believe this sets up a number of trades in the coming weeks - even if I dont trade anything this afternoon) and I thought it might be worth sharing for anyone interested. I know its not really the grist of this thread to post ‘funde’ stuff and I also know ICT cautioned against trading NFP days but I find having a bigger picture view triggering from headline data such as bank statements and NFP helps in taking technical trades from a bias assessment pov. Its also really quite simple and helps keep you focussed. Anyany even it is simply ‘light relief’ for some - here goes.
Basically we saw cable and fibre selling off yesterday after more dovish than expected central bank statements. Clearly the new BoE Gov Carney, needed to put a stake in the ground and his words were stronger than anticipated. He actually gave a statement which is something Merv the Swerve never did and said not to get carried away by any potential interest rate movement upwards any time soon. Therefore he was talking GBP down particularly in relation to the USD where some rate hike expectations are in the picture already. How far cable can drop is another matter - the key is that Carney’s first step was to talk it down - thus expect some weakeness in the near future.
Next up we had Super Mario and he did essentially the same thing - talked down the EUR - which fell considerably against the all conquering USD. From reading around it seems Draghi is really a bit constrained in what he can do other than talk - at least until after the German elections in Sept. What with Portugal and Greece getting some heat atm re no growth and more and more austerity palying havoc with the politics of actually governing these countries - talking down the single currency at least helps to improve trade terms which may help boost the climb out of the economic gloom. At ther same time investors will probably be cautious on the Euro because of the political and economic uncertainty.
So what might happen with todays NFP and its effect on the markets next week. My view is that if we get a beat on the data we could see cable and fibre remain under pressure until some key support levels are hit. We might also see the indices trading off as the goodie bags laden with QE are tapered perhaps starting from Sept. We could also see UJ backing off which is a bit counter intuitive considering the strong USD and up trend we’ve had in UJ. Basically its all about risk. If QE is tapered (ie they reduce the amount of bond buys thereby reducing the money they (the Fed) are pumping into the market) that in one sense means risk off and what happens in risk off - we buy JPY - well at least thats whats happened in the past.
If NFP misses and misses badly - well we basically get the inverse of the above - cable and fibre moves up along with the indices (as uncertainty rules as to when / if the QE taps are going to be turned off). Again maybe a bit counter intuitive but UJ may come off too - even though risk might be back on.
If NFP comes in ‘in line’ … well… er… guess I’ll just have to wait and see ;-).
So… I’ll be watching NFP with interest and depending on what plays out - I’ll be using the above analysis to help guide me into technical trades next week.
Hopes the above is of interest - if not - no worries have a good one regardless.
Ok, almost everything. Some of the pro traders club vids are not in here and a couple market reviews. But this has everything else at the highest quality. I’ve never created a torrent before so I hope it works. I’ll leave this seeding.
