I’m curious as to how many people use ICT’s methods? I looked at some of his material earlier this year and it looks legit.
Im wondering if they all wear Black Nikes’
Ok. Well as ICT said, it will be up and running in January 2013. I have already referred you to the doodle. Is that not enough?
As for his followers not showing returns. It has nothing to do with his teachings or his method. Every trader that sits behind his desk is unique. We all have our own unique thoughts, perspective and circumstances. We all have our own faults that need to be filtered. It is a process that requires [U]patience[/U] and [U]development[/U]. Why do I stick around? Because it is ME who fails, not the method. I mean come on, you have some tertiary education behind your name, you should know that. Enough of the antics.
I am using ICT Method and other methods… but if you ask me if I am profitable? I am …only for 2 months since I am just getting started so give me some time maybe years…
Let me know if you need a “boxing gloves” so we can get this thing over with…I’ll sit here and watch…
David your claim is weak don’t you know when you attack someone you need a form of evidence Screen shots, caches, some actual footwork to your claim?
Otherwise, someone could make the claim that you should stop crying about the signal service who uses someone’s name such as michael’s and loses your money and you come here to cry about it instead of crying to those who lost it in the first place, usually yourself.
If you actually did some homework you’d realize a lot of his workings are that of DOW theory, Larry Williams, Bill Williams, Richard Dennis, etc.
For instance price seeks yield is old DOW Theory I believe
COT analysis by Larry Williams
Fractals by Bill Williams
Price Patterns which is EVERYWHERE such as bullish or bearish engulfing candles
The Fib which has been around for a while
The 200% Ext he uses to exit, which is a 1:1 Swing projection used to measure which I’ve seen well before ICT even talked about it from a co-worker of mine. Originator unknown.
Turtle Soup Buy and Sells which is the polar opposite of the break out strategy as used by Richard Dennis and his Turtle Traders.
Something tells me about your half-bassed approach towards forensics and evidence gathering your looking for someone to blame and if and when he sets up a myfxbook why does it matter, its not your money you can touch? I doubt you would or very many people on the internet or places such as this would have the cahones to admit their hubris especially when you don’t have to face us everyday and you can just fade into the background.
Also PPS those who were successive using [U][B]SOME[/B][/U] not all of his tools, you really think they’d bother coming back? They got what they wanted why would they want to change it if it still works? It’s the same material being pumped out. It’s like what Bruce Lee said which I’m paraphrasing Take what you gleam useful and discard what’s not.
I’ve only been here for about a year and the wave of either new or old idiots never ceases to amaze me. I can just imagine what it’s like at forexfactory with their larger user base.
Another thought occurs, why is everyone always attacking Michael, there is a plethora of others to assault… Pete Fader comes to mind… why not one of the main page bloggers like Ragnee Horner, Cowabungapips or whatever his name is, Pipcrawler, do you find it faux paux to crap in someone else’s house other than just 1 person here?
Hello Tansen,
Although the ideas were not his, he does deserve credit for putting it together. When all of these items are added into a checklist, a very different beast will be born.
Frankly speaking though, I half-assed it on purpose. I just wanted to provoke this guy to come out of the shadows and show us his trading statistics. Although I didn’t realize that he already planned to do so… . Either way, it’s a win-win scenario. If he doesn’t deliver, the cult gets exposed. If he does, I’m assured that his trading methodology does work and I’d be happy with the knowledge that I probably won’t be working at a generic white/blue collar job for the rest of my life just to get a few years of respite when i can barely get out of bed.
if you followed his system, your stats are the proof, he doesnt need to furnish them, unless of course he was supplying the signals to your account, then, it would be prudent.
And shouldnt everyones stats be the same, I mean, its a system, no?
If his followers did exactly what is writing in the plan, then well, everyone should be profitable… That is of course, its a great plan from the beginning…
Doesnt 600 pages of posts make it seem the system is complicated, or to extensive for the average trader?
But the way you presented it is seemingly very unfair, although I am sympathetic to your situation I worked as a grunt for a very long time constantly coming into be harassed and berated by my superiors every single day just because either his/her date went horrible the previous night or their blood sugar is low and the work you do treading through mud, asbestos filled heritage houses, steel mills, etc makes it seem like you should get a frickin medal everyday for doing your job but the credit always goes to the guy who shows up hours later and makes it seem like the last 5 min stretch he does work at the end of the day makes him the hero. Yes I am sort of still getting over it.
However it doesn’t give you or me the right to lash out at others, although I wish I did a bit towards one person near the end, for something such as evidence that he does well and it certainly doesn’t elevate us above especially when its not my million dollars I can spend lol. The only evidence and proof everyone should be concerned with is their own personal success.
I work at a prop firm now but you wouldn’t believe the variances in people, all the ****y ones that came in litterally pulls up their belt knowing nothing or have a plan of any sort expecting people to swarm to them being a huge big shot and says I’m gonna do it I’m going to graduate and make 2000 dollars today, we have a 2k in one month policy min, not even an hour in or even 15 mins granted i’ve seen someone get shut down and lose money before the market even opened on 100-200 shares they somehow lose 25-50c on a 10-20 dollar stock with low ass volatility. They are so funny when it comes to excuses such as ohh… I made a keystroke error and i accidentally hit buy when I mean to sell, my quotes are off, I thought it was gonna go this way, its pretty evidence who’s to blame and why their relaying the blame to the system because its so easy to.
I am not saying I wasn’t like that as well at first but eventually the evidence was that I was starting to do well was when I was setting personal goals, like today I will make 20 and be done, then it became 50 I said this is starting to get easy lets make 100, that 100 translated into 200, and then 200 became my minimum, I think I peaked near 800 once with an accuracy in the high 70% approaching 80’s. Granted I’ve had terrible days which I minimized by staying out of the market is a discipline I learned from ICT but refined via Clark.
The psychologcal aspect I think is a very important factor to consider. If ICT is indeed profitable trading the methods that he teaches, it would mean that his system does give the trader an edge. One would just have to work on controlling one’s emotions as in akeakamai’s case.
p.s. in case any one else gets curious. i googled akeakamai because it sounds really unusual, found out that it means “lover of wisdom”
Nope.
Thats an excuse you put in your mind because you didnt follow the rules and guildlines.
Thats pychological bullcrap dont float with a systematic approach.
Kinda lost here, whator who is ICT? Questionable theories? Dam, you must be in drugs, what is logical to me might sound stupid to another. There is no tested methond in trading but what seems to work is being disciplined and cutting loses as short as posible. If you use my system wich works for me but it does not work for you, am I being a dishonest person for using questinable methods?
Are you arguing that psychology doesn’t play a part in trading systems?
Folks,
Keep this thread on topic, related to the original post, and please reread our Forums Rules if you haven’t already done so. This is the type of thread that ends up with members getting infractions or banned. I think points for and against ICT’s methods have been plenty in this thread and elsewhere. If you’d like to give your opinions or experiences, that’s fine, but keep your responses informative and respectful.
Pipstradamus
That’s odd.
Who me???
Not you, for sure. The one who created the thread.
Ok, for ICT you guys are refering to Inner Circle Trading? What is wrong? I mean I never took time to follow, I might posted something i those threads but it was too large for me to read it.
absolutely I am,
A system has defined entry, defined exits, defined Stops, where is the stress and emotion come into play?
If the system is proving to loss, then, well, you shouldnt even be trading the system.
Whats the psychological stance on that? If you come to work all pi$$ed off at the world, that is a whole different thing, your mindset isnt correct, and shouldnt be trading, because of lack of concentration to set orders properly, and possibility of doing something NOT IN THE RULES.
If the system is even correctly followed, it should be stress free.
Can we agree on that much?
When your shooting in the dark, jumpin candles, over trading, not using Stops, and just freestlye trading, thats entirely differant. That means you dont have a plan, or set rules, and can lose your a$$ in minutes. THen you eventually trade on tilt, and, well, its all over till you reset your emotional status. ANd, whos fault is that? Yours!!!
Im talking, Systematicly following a set plan, in stone… That means, your losses are lesser then your wins, and your banking profits consistantly, in a systematicly approach, that proves the final results will be better, then worse.
IF ITS NOT, YOUR ON THE WRONG PATH, SHAME ON YOU…
So, your saying, your phycological stance is predetermined, and during your trading day, your stressed, which brings me to the conclusion, your not 100% satisfied with the current plan, or method of operation, you bring to the table.
*In my angry British Butler voice,
Good day Sir.
For what my opinion might be worth:
I think it is always sad when people choose to deride something or someone instead of spending some time understanding the message or indeed the person. I would like to know how much time was spent listening to and watching the content before the fingers jumped to the keyboard…like hitting the buy or sell before looking at the chart!!
I consider myself an intelligent person…others seem to also consider me so I have given the last year and a quarter of my life to reading the ICT threads (among others it must be said e.g Nikita) and practicing the concepts. Not once did I consider it a waste of my time. I have learnt so much, I have a better grasp of the world of forex and I have never been asked to buy anything or buy in to anything for that matter.
I think kindness and generosity are wonderful traits in all walks of life. And I cannot understand why people choose to pick on or beat down someone who shares time. I guess sharing is not considered caring by some people.
I don’t post here often. I prefer learning quietly and focusing on my goals.
I think it is the best use of my time.
Have a great Saturday everyone.
Tog go bog e
Padraic
I’ll bet you don’t make it as a trader