Hi
Here is also some interesting watch: Using Seasonal Cycles to Gain an Edge in Forex Trading | FXCM Expo
Tendencies for the past 40 years for Cable, Fiber, Aussie and S&P.
GLGT
Hi
Here is also some interesting watch: Using Seasonal Cycles to Gain an Edge in Forex Trading | FXCM Expo
Tendencies for the past 40 years for Cable, Fiber, Aussie and S&P.
GLGT
Today is gonna be one hell of a roller coaster. Better to sit on the side lines for this one. There is still a war to win against the banks. Live to fight (trade) another day.
Watching from sidelines todayā¦ Fiber looks very search and destroy to meā¦
I think we could see yesterdays high get taken out, possible run up to the 1.262 - Big resistance level, inst level, R1, and wider OTEā¦ If we make it up there, i think the cable will fail to make the same higher high (given it needs about 100 pips) providing SMT divergenceā¦
Ill be tempted to put a 0.5% position on short for a slam down on the fiber targeting 1.252ā¦
Ok I nearly missed this video so Iām guessing there might be a few others who might have missed it too. Defo a video that needs to be watched. Go to live stream to watch it but itās not on Michaelās normal channel.
Babypips.com Inner Circle Trader - live streaming video powered by Livestream
Donāt ever say i havenāt got your back peeps
Am 100% with you on that. ICT minds think alike I see. All the stops running all the way to the 1.2620 level. Iād be tempted to put half a trade on too if the higher range holds, Iād wait for an OTE to form at the 1.2620 level and then short it. Bald faced red candles still scare meā¦lol
Was stalking cable for a long this morning, USDX divergence at th time and Stoch divergence on 60 min (price made lower low and stoch made higher low) Judas swing below AR and entered on 15 min ote at 1.5480 ( limit orders). Booked 1 lot at 30 pips and stop to b/e, 2nd lot at 50 pips and have remaining lot running for daily range. Was textbook stuff. Iāll chek the charts again at London Close. Cheers ICT.
Nice tradeā¦Took the same oneā¦
Hi!
Can you please explain to me what OTE the 1.5480 level was? On what swing did you draw your fibs from?
Also took this trade, got out at 1,5530 for a nice 50 pips.
Now I have put in a new buy order for 1,5495, which is the OTE from todays low to todays high.
If this one is triggered, I will go for the ADR, which should be around 1,5580 level.
Fingers crossed
EDIT:
Ok, missed the entry by 1,2 pip (1,54962), after that it took off to 1,5550
But hey, still 50pips in the bank, which is a very nice 5% (1:2,5 RR).
One or 2 trades like this every month (5-10%) Iām very happy with this healthy ROI
Hello all,
In case you were wondering what happened to me (probably not).
Iāve been a bad boy. I decided to develop my own theory on divergences between AUD and NZD. Took a couple 2% losses on that. Then decided I wanted to scalp and took another 2 losses. Iām currently in a drawdown of 13%. I have not been following the rules and itās starting to bite hard. Fear is starting to creep in hardcore and Iām seeing my dreams of Forex wash down the toilet rapidly. I need a life line. I want to go back to my roots which are trading the ICT way. I still remember all the concepts since Iāve gone astray only for about 2-3 weeks.
I think Iām gonna watch the market more closely and if thereās a chat or something that I can talk to with people who are being successful lately it would really help. Worst part is that when I see the setups, Iām too scared to take them.
Help PLZ!
P.S. I trade London Open and 1/2 of New York Open
EDIT: I apologize to ICT for not listening, thinking I was good to go on my ownā¦
PIPhangerā¦ Long :eek:
The price action is hauntingly familiar! Good find by the way!
Closed out the final lot at 5532 for a grand total of 130 pips for the day. Done for the week now. Gonna sit back and watch Ireland beat Spain in the European Soccer championship. I booked 130 pips so anything is possible!!!
GLGT guys
Thanks ICT
Sageone,
just keep plugging away, you have all the tools you need to be successful. Start back with the basics- trading pivot zones, highs and lows of the day, week, traders trinity. Since the market is choppy right now, this is a good time to be trading the zones. Enter with 1/4, 1/3%. Forget about trying to catch the weekly move, or even the daily range, and focus on catching 20 pip moves. Just focus on ICTās teachings at the very beginning, when he was teaching us how to walk, not how to run.
Right now itās not about making your money back, itās about getting your confidence back. Look for the very best setups each week, if it doesnāt feel perfect, donāt take the trade. Just watching the market and telling yourself, I would enter here, and watching price go where you think it will also helps with your confidence.
Since my psychological meltdown in Feb & March, I have had 2 profitable months in a row, not very profitable, but positive. It wasnāt the % of return I was loooking for, it was the net positive trades I was aiming for. For the longest time, I couldnāt see what price was doing, I had lost sight of the market. With a lot of work and perserverence, Iām getting my vision back. Not a single trade Iāve placed has been made with more than 1% risk, most of them have been with 1/3%. I will continue trading with 1% or less risk probably until the end of July, maybe longer.
If you want to chat on Skype, PM me and weāll set up a time, until then, just keep plugging away, it will all come back in due time, and donāt take any trades just to be in the market. You will become a much stronger trader when you finally work through this. It was a blessing in disguise for me
So what i was eyeing as a LO trade, then a NYO trade, actually got triggered right at LCā¦ But still valid nonethelessā¦ Pending short got filled at 1.2615ā¦ Only 0.5% position as i took two other losses this weekā¦ Hoping this one has good potentialā¦
Will not be taking any profits along the way as its such a small position, will trail it if it goes my way and aiming for the 1.252ā¦
[B]This week: +6.25%[/B]
Didnāt make any stunning trades this week but the scalps and partials really added up. Feel like I could have gotten more, so probably in the greed zone right now. Best call it a week and save this confident energy for better setups next week! Congrats to everyone, I seen lots of winning going on this week
Same trade taken as SanJ, may i know how you intend to go about trailing the stops???
Thanks
I just went short on eurusd @1,2606
Reason: I have a resistance line for the 1,2615/1,2625 zone , it was touched then went down 30 pips and just gave a nice ote
Put a stop at 1,2645
It also aligns nicely with the ote from the weeks high vs weeks low
Tp is 1,5555 which is around 200pct extension level and aligns with 50pct fib from week high vs week low