Pretty much waiting for my stop to get taken… Complete noob week… Once this SL is hit defiantly out til next week…
Glad some others managed to kill it this week…
Have a good weekend, as i know most are starting early 
:57:
Hi Sanj, same old story bro. Stick to the market bias.
1.266 - 1.27 would be my idea of a retracement play.
If it’s any consolation, my trading has been terrible this month, despite calling it a bull market for June in my previous post, for some reason I’ve been trying to short the market, I don’t know what’s come over me.
Results of “Trade Plan-Thursday June 14, 2012”
Trade #1
Pair: EUR/USD
Bias: Short
Price: 1.25450
Analysis: If Judas Swing appears to form, trade down into Wednesday’s low-Support at 1.25120
Target: 33 pips
RESULT: Stopped Out. -24.20
Post Mortem: 1) No Dynamic Risk Management. I didn’t recalculate 2% of Equity… Just equated 2% with 20 pips. So, I actually risked 2.3% or something near that. As far as technical failures… I’m supposed to be working to recognize Price on a bare-bones Chart… I don’t know how to use OTE/Fibs, Pivots etc.
Trade #2
Pair: GBP/USD
Bias: Short
Price: 1.55031
Analysis: Bearish on Pound/Dollar going into Sunday’s Greek vote. If Judas Swing appears, price will range back into Tuesday’s Low. Support at 1.5443
Target: 60.1 pips
RESULT: Stopped out. -20.0
Post Mortem: Same Risk Management failure. I didn’t chase the price so much today, no revenge or envy trading, still pretty obsessive, though. 
Weird week for Trading into just S/R levels.
Also, I actually went long on Cable and SanJ, you were spot-on about it breaking into 1.26. Think it’s there now, in fact… Good call!
Can’t even do a proper evaluation of a trade because I lack so much actual background, experience and skill.
As long as I’m not drunk, I guess I can try again.
Have a good weekend everyone. Happy flag day to those so inclined and
Peace
Mike
I know man, ive gone back to trying to pick the tops and bottoms again instead of going with the flow… Anyway, i guess the only positive thing this week is my money management has been up to scratch so losses have been minimized…
Im thinking of implementing a rule in my trading to only take trades in line with the daily market flow, wont change as often as the 4H and should keep me out of some trades and put me in the ones with the longer term bias… Its weird though, i remember months ago i used to take double digit trades in a week and felt like i was missing opportunities, this week ive taken 3 trades and only felt like ive kind of over traded. I want to change my mindset to ‘if i could only take one trade this week - what would it be’
Just kicking myself even more because ive seen the long setups playing out, but ive been so tunnel vision on trying to take the shorts… Anyway, hopefully this 2nd kick will be my lesson learnt, trend is my friend!!
Appreciate the support
I suggest you to take a break for couple of weeks, after that go back on demo for couple of months…but NEVER give up!
I entered long today and wont be posting this in my own thread because in that thread I am sticking to only shorts…
This will be brief as I have been running out of time lately…
Entered cable at 5480 using wider OTE from Jun 12th to current high.
Waited for Judas to the down side and then for it to form an OTE which happened at…
5480 Key Level / S1 / LO KillZone / OverSold with Type 2 Divergence / SMT Divergence
I then entered again at 5510 during NYO which I know is a horrible entry and I was chasing price.
I took off all positions at 5520 after London Close because I was very busy today at work and could only check the charts briefly. Most of my entries and exits are at market because of my work schedule lately.
PIPS Gained: 40 on first entry & 10 on second entry
I am starting to be on the right side of the trades and I’m starting to close in on my initial deposit balance. At the rate I am going I should be there in no time…hopefully…
If anyone is wondering why I haven’t been keeping up with my thread it’s because I have been swamped with work and have sometimes left for work before LO which is 3am my time. I have been putting in extremely long hours such as a couple 16 hour days a couple 12’s and a lot of 10’s. I have also driven about 2000 miles just last week and this week is not much different. I am a computer nerd for a company and I cover one complete state since we have over 30 plants scattered everywhere. So I need to make this trading thing work out for me…:27:
GLGT!!!
This needs repeating! [B]NEVER GIVE UP[/B]
Every time you fail and pick yourself up again, you will grow as a trader. Successful trading comes down to the elimination of bad habits. Some habits die hard… real hard. This is why I envy some of the new people here, who didn’t have 3 years Pre-ICT to develop horrendous trading habits
Sorry Sanj, I was eyeing the above as potential reversals but have given up on them, I now look to 1.2986-1.3070 as an area of interest for a reversal.
Edit: It didn’t post my original figures but you can scroll up
Well I am done this week. Ended just above where I started but not much. Been a long week and a long day for me. I will be interested to see what this weekend brings to the markets but I think I will sit out next week as my head is just not in the game. I think I need to sit out and get my mind right. Just to much going on to focus. Even though I ended in profit I can honestly say it was luck not me. I should have taken a loss. I will say though risk management is key. It has saved my ass so many times I dont care to count. If you leave trades open for the weekend tighten stops. We could see some huge gaps.
This reminds me of something ICT talked about in the earlier PTC videos. How traders have an energy level like a battery, and how you can really drain yourself with certain trading activities. To me, this is the MAIN reason why we seek to limit our activities to the best of the best setups. One shot, one kill isn’t so much about being a technical wizard, as it is about being able to focus the majority of our energy on that event. That means we are giving our best effort to a single event. So our energy goes into the process and not the actual price movement when we are in the trade.
Thinking in this way has helped me understand my “role” as a trader better. I want the best “value” for my energy. I don’t want to waste my energy trying to grab 10 pips, that’s not my job. My job is to be efficient with this energy and actually turn it into a legitimate edge through my analysis. Of course when I forget this, I drain my energy on worthless trades, and then blow it for the real trades because my battery is dead, and there’s nothing left to do proper analysis of risk.
So of course the best thing to do when you are drained is take a break. Anyone that CAN take a break when they WANT to take a break, is a professional trader in my opinion. Also I do intend to do some sitting back on Sunday… watch this so called “high volatility event”, just like an NFP day :44:
One last thing I want to post. It was my Cable trade for today. I think a lot of people saw this one, and that in itself is pretty amazing to me! I’m making an effort to record my really good trades. When you are feeling really beat up by your trading, it can be really inspiring to actually see a picture of how you actually got it right… and made it look easy!
anyways, this is just one of my template but it has a lot of the analysis I used to make the trade (pivot level, yesterday’s low, fibonacci from HTF, judas swing down at LO)
Ict thanks for the Fiber Rant. These are the kinds of discussions that help me in trading. Please feel free to post when you feel like having more.
Cheers
Hi all,
I’ve just now been able to work my way through Mike’s SMT video and wow… Do any of you know if the divergence from the correlations occur with all USD paired currencies throughout the day? I just noticed there were divergences today on both the Fiber and Cable, one hour apart… Could one signal the onset of another - and so on…
This was a [I]really, really[/I] cool piece of insight.
I’m gonna watch golf all weekend… let my skull stop smoking from overuse.
Love and pips,
Mike
Looks like a nice short is setting up on fiber. The daily is right into that ote area and there is nice resistance at that 1.2650 area who knows maybe it can fall all the way to the 2300 area but in the short term I would target 1.2600 to take half off No matter how I look at the charts on the htf all I see is bears
Looking at cable it seems this pair is stuck in the middle of “no mans land” but I see that there were a lot of ote entries if you were bullish this week. I just don’t know overall this pair seems bearish and there is a nice short off of 1.5585-1.5600 region
setting up.
Anyway I wish I had more time this week to trade.
“Being defeated is often a temporary condition. Giving up is what makes it permanent.”-Marilyn vos Savant
BTW:took the same trade like you,yesterday,cable long on 1.5479(ds1,weekly pivot,OTE…) for 62 pips ,RR 1:2.
GLGT!
I will of course be staying out of the market till Wednesday, always appreciate an ICT rant.
Just wanted to sum up my trading for the week, I didn’t realise but I nearly bagged 190pips! I’ve been betting small so the difference to my account hasn’t been huge. I still made 4% for the week though and i’m very happy about how my trading is going.
quick summary of my trades, and i’ll try get a screen shot of my account later today.
Short Cable on Monday LO, risking 1/2 of 1% netted 40.6pips, nothing taken off till the end, in hind site I could have held longer to close the gap from Sunday fully but something in my head was telling me i was close to 80% of the gap being filled and I was happy with that. Entry 15565, Exit 15524.4
Long Cable on Tuesday LO, netted 102.1pips, posted my analysis on this one early in the week, again 1/2 of 1%, left it all on because it was a small position and was trying to catch the weekly range, but then when it got near to a big resistance and key level 1.5600 I decided to take profits. I didn’t get the best entry with this one and got lucky getting in the cable rather than the Fiber that day. Entry 15466, Exit 15568.1
Short Fiber on Thursday LC, netted 46.5 pips, typical counter trend LC trade, at a key resistance level 12600, and stop was above above the 1.620 level also resistance. Entry 1.2606, Exit 12559.6. Reaching for extensions on my target exit.
added up to …189.2 pips!, which i think is about 3.8% for the week 
I’m going to return to 1% or 2% for my next trades.
Congrats everyone else who had a good week, its great seeing these concepts clicking into place for others, really looking forward to ICT showcasing a different pattern every week too. I’m having a blast learning, and really enjoying this journey!
All 4 1, 1 4 All
congrats mate! and all who had a good week;)
I didn’t take a single trade this week as I couldn’t really get a hold of the market at all… wasn’t putting enough mind into the market as necessary to trade properly…
I’ll start my weekend now and will come back tuesday or wednesday and hopefully can bring back the right amount of focus;)
have a great weekend y’all
and don’t forget to get your popcorn ready for the “greek-show” this weekend;)
cheers
fredy
Nice pip haulin’ there tycoon. Think I’m waiting a bit too long for entries but it’ll come eventually (was hanging on for a long entry at the weekly trinity pp yesterday but just missed it, seemed to fill that Sunday Gap again!).
Just a case of tweaking a bit here and there. Having all Pivot levels and S&R’s (monthly,daily,weekly) open in a chart, just within the ADR for the day has helped so I can reference levels easily.
How far back do people consider Asian Range levels relevant for area’s of support/resistance…last three sessions, last week, all time…?
Last three sessions is good but i use them all week long for day trading. They are often still respected
I have been quietly observing and implementing ICT’s strategies on my live account and I have not gained more pips in my 5 years in Forex then with this information! I trade with higher leverage so I make alot more in profits but with ICT’s system it removes the fear I had for trading higher leverage and my equity is in the positive. I made 30 pips with the cable last night after I got in from a 19 hour road trip. This morning I managed to rack up 34 more pips with the cable and 10 pips with the fiber. I’m very excited to be bringing in the weekend with great profits. Thanks ICT!