Well since i took a 30% draw down on my live account i have desided to make some changes as per ICT,s sudjestion I took a week off and then started demo trading, and also stoped over trading, so no more than 3 trades a week . The results were outstanding I went from about 12-17 trades a week to 1-3 no more than 3 I went from 3-7% losses weekly to about 3-7% gains weekly and also from around a 30% win- loss ratio to about an 80% win-loss ratio. So in lite of that fact my goals for next week are to grab my self by the famely jewels and get back in the game and go live again , I also need to step up my record keeping so I can keep better track of what the he** im doing.
John:35:
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Maintain discipline and focus. Have been tempted to throw in some trades in a morning tired sort of daze. In fact did on one occasion made a buy order in the sell zone of the pivot points! Managed to escape that one, also have failed to set the correct stop loss size being stopped out last week. I need to iron out the silly human errors.
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Experiment with scalping on another demo account. I currently aim to catch weekly moves riding the early week OTEās to the late week extensions. I am also putting in trades midweek however I am mostly taking the OTEās from the entire daily moves not session moves.(Entering in LO/NYO Exiting at extensions) My first take profit is generally at the 100% retracement too.
Taking part in the London close scalp to grab 20 pips when that trade opens up is something I want to look at. Also rather than entering the OTE on the slightly larger moves with 30-60 pip risk on occasion entering on the 5min OTEās after the bounce. -
Profit: A substantial percentage return for the month 10%-15%.
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Ride another weekly move.
TL;DR version: Try out new things in some of that down time and WAKE UP AND FOCUS!
Ill keep it simple. I would like to work up the dicipline to get up and trade nyo instead of LO(Its at 4 A.M. my time)ā¦ so for this month Iām looking to learn all I can about NYO and hoping to come out with a positive month. I would also like to catch a weekly swing just because I would like to see what it feels like. haha
Speaking of goals, do any of you remember this thread from the start of the year?
http://forums.babypips.com/newbie-island/42343-2012-forex-goals-targets-dreams-some-bucket-list.html
We are somewhere near the halfway point for the year. I would love to hear if some of you that posted in this thread have come to see the accomplishment of your goals.
Could someone shed some light on the 1.5730 level for me? It got a nice kick there yesterday just as ICT had marked on his chart, but I couldnāt see it on my own charts at the time he broadcast the market review (27th May), and so I chose to leave it off. What I do have on my charts is 5707 and 5780. Any ideas?
Regards
Could be the low on May 17ā¦also seemed to provide some resistance around DEC 2011 and support in early FEB. I think a lot of these higher time frame S&R levels are as much art as anything else and need a lot of experience to be as accurate as ICT. It really amazes me how precise his levels can be, but I can see that with time and effort it is possible to get to this level of accuracy
I just figured out how to use that spread sheet kubio sent me. Its on now I have one hell of a nice chart setup. I could not be happier at this moment. I feel like a kid in a candy store
Thanks Kubio
I agree with you. I think we need to work on higher time frame S&R. We need more study. ICT, can you make more detail on these S&R please, how these level to mark, what are the confluences, what is the explanation, why these are major S&R? Like every time you show OTE or reflection or pocket stop, price test etc. Cause these HTF you draw too accurately but we fail to find. I know my question may be a little bit intimidating (cause I think these are the very basic )but to be honest, when I fail to mark, I watch the the review videos and copy in my chart those S&R but there is no understanding inside me or I canāt make explain why these are majors.
One more thing fib level. I know it will take time to be accurate like ICT, cause he trades for last 18 years but I am afraid how many of us used for years! Many of us here less then 18 months or 18 weeks or less. I have watched 1 or 2 video on fib and some details in the market review. But I think Meat and potato in ICT method is, ākeep patience, draw you S&R, accurate fib level for entry and exit, and overall understanding of HTFā( you may differ ). I think we also need the amazing detail explanation of Fibonacci. You know what, āwhen we fail to understand, just dig that subject in to deeperā- David Joseph Schawartz, The Magic of Thinking Big. So far we googled about Fibonacci, we know the Fibonacci number, we may know the golden ratio, how fib number illustrate in the nature,or Caroly Borodon AKA fib queenās method (this method bore me) but in the Forex arena specially in the ICT method (so far I have find much powerful but simple) my appetite is more about fib level and would request Michael to explain it more. Some time I show fib level of ICT to my friends they stop for few moment and reply āthis guy is a wizardā. So, ICT will you be kind enough please?
Really glad to see more people on The Top Shot Honors 
seems like more people are starting to do really good I think ill post a trade or two this week to see if i get on it. Ive been comparing my self to the top shots for about 3 weeks and Iāve matched up nicely
Well I am going to spend more time on price action on the smaller time frames and see how I can can get in on a move if I miss the bias for the day. Monday Euro/Usd 104 pips,Tuesday Euro/Usd 34 pips I am flat for the week and reviewing everything. Thanks to everyone for their interest in this thread and information freely shared amongst everyone.
iām on the side lines till tomorrow but im watching and learning. quick question for ICT, IF we were trading today which pair would have been better to trade if we were pivot zone trading. Iāve just watched an SMT divergence on LO, i will post a pic. The cable cleared out yesterdays lows while the fiber failed to make a lower low. So iām guessing the fiber would be the one to trade as it is showing strength. I also believe i spotted a reflection on the fiber before it happened!! i will also post a pic. thanks in advance ICT
Tycoon bro at what level is S1 on the fiber? I donāt have access to my charts at the moment, so Iād appreciate it if you could tell me 
Iām looking around 1.2540-1.2560 for a long entry on fiber, because of the higher TF OTE. Working on that patience objective of mine 
1.2519 on my chart bro
the reflection pattern i drew lined up with 1.2572, but iād say stay out to be safe bro.
EDIT: if you do get in, be careful of the 1.2620 level, iād take at least half off a few pips before that level.
DEMO trade. Just to see if this also works on other pairs.
I expect the price of NZDUSD to go to 0.7980 resistance.
Price went lower than Asian range low to form a - not so perfect - OTE at LO (retraced, than touched the 100% fib).
I went in at 0.79155 and get out at 0.7980 if it gets there today. At the moment it is 30 pips in profit
EDIT: Took 50% at 0.79505, stop loss to BE ( < 1 hour in trade )
EDIT2: just reached 0.7980, nice between 3-4pm gmt. Bagged a nice 64,5 pips, on demo
Disclaimer: that doesnāt want to say I donāt focus on Nyo as per my homework assignment
Just didnāt want to trade the eur or gbp live until Wednesday because ICT warned us for that
I think you could have even took a set up for a sell today if it was a normal tues (for the record iām on sidelines)
you could have pulled a fib from London session high yesterday to the low yesterday, forming a OTE sweet spot in LO today, at Central pivot, with another small OTE at LO for a sell. Could have took 30pips and break even, it went down about 70pips.
Yeah, things arenāt looking as clear cut as I wouldāve hoped. The price action for fiber is all over the place. I think Iāll much rather wait until it hits one of the higher TF OTEs
Perhaps itās better to stay away from the euro for awhileā¦
happy belated fathers day also from me;) just signed in to drop off my homework;)
easy one:
- stick to my rules
- stay profitable
- focus!
- catch up with the few new videos recently
- get that last missing piece of self esteem in order to go live before septemberā¦
Iāll be back on the playground tomorrow LO;) cheers
I have a couple ?'s. almost your while trading system is based on smart money movement. I agree wholeheartedly with you on your views. My question is what happens if your way goes mainstream? And theres a whole lot of people trading with the smart money? Also after years and years of forex are and 90% of people losing their money how is there anyone left to be dumb money and make money off of? Iām a relative newbie less than 6 months experience.
Review our Trading Support & Resistance videoā¦ we suggest looking at āNatural S&R Levelsā like round numbersā¦ full figs, mid figs, Institutional 20ās, 80āsā¦ and the small round numbers like 10ās, 40ās, 60ās, 70ās, 90ās and yes sirā¦ 30ās!
Starting your survey with this premise in mindā¦ and looking for hard line S&R levels lining on a these ānatural levelsā makes it a bit easier to arrive at a Key Higher timeframe S&R level. You spend more time on the higher timeframe charts folksā¦ pour over these Monthly, Weekly and Daily chartsā¦ you want to see the Wizard in you? The āYellow Brick Roadā is found on these timeframesā¦ seek and you will find.
[B]GLGT[/B] :57: