I was hoping you would speak up…I figured you were in this short…What was your entry?
hmmm Tuesday the high of the week, maybe, if tomorrow is a down day then we have a fractal high and i’ll be looking for a short on Thursday. lets see what happens.
I ment to post it last night on my thread but I got carried away building a Koi pond in my backyard. I will have to double check when I get home in a couple hours but I wand to say I got in at 1.0570 but might have been 1.0560. I know if you look at the open for the week there was a gap down then price went up to form a inverted hammer on the 1hr. I did not get my 50% retracemnt I like to see on hammer so I did not enter. then price made a OTE from that swing after the open. Thats where I entered. If it sounds confusing just stay tuned to my thread its still live so it will show the entry. Its a lot easier to explain with a chart in front of me lol
heyy guyz
im using the divergence between stochastic and the pair…
but i came across a small prob…
how do I know how far the pair will fall or rise???
i can predict its direction
but not its magnitude…
ny ideas???
That’s why we have fib projections and a time of day to take profits (15:00-16:00gmt), and it’s also why we take some profits after 20-30 pips and move stops to BE. You never know how far price will move once you enter a trade, it’s only probabilities, so you pay yourself and have a “free” trade on the table to see where price might go. You can also look for pockets of stops you might think smart money is trying to take out, and you can also looks for price to fulfill four levels during a typical day (I.e. S1-MS1-CP-MR1 would be four levels).
Those are the things I use for TP targets.
Matty
Forex trading as with most things in life, if you believe you can do it successfully or believe you cannot, you are right.
( Henry Ford \ Sunny PiP )
Well… trading in general as with most things in life sometimes what you believe is not what you can do.
You need to look up a guy named Moneynvrsleeps on here…
For instance my prop firm I was in the worst off batch, nobody had any experience the only person who had a “leg up” on the crowd was this one guy GS.
GS knew all the senior traders who were full-time he had seen some lucky days like under $100 days but most days he’d either get shut down with the $50 loss limit or make somewhere between $20-50. He has since disappeared and has yet to have any signs of actually becoming full-time, the full time deal is you have to make $2000 in one calendar month.
DS was one who went to school for macro-economics or something, he came in believing himself into being able to “ace” everyone and that everyone would come to him and ask for advice and how he does it. He used to get shut down so fast, I sat next to him, you’d just see this droopy sad face all the time. I wanted to help him at the time, more on me later, but to be honest he didn’t want to put in the effort and he just faded away. He told me that he expected himself to be king of the floor within a few minutes of trading, then it became a few days, then it became a few weeks, then it became a few months. His trading style became his pitfall if he even had one.
CL had no experience and his buddy brought him in, he had a few good days because he’d be trading with GS on fundamental plays for the day. However, for the most part he’d get shut down, despite the help he got from one of his FT buddies. He disappeared with the cop-out that he had to go “make money” to support this and its been months since I’ve heard from him.
NS came in thinking he’d play financials along with me, he came from some TA background according to him, he’d get shut down so fast you’d see him go through an entire pack of cigs in an hour.
Now me, I came in with poor knowledge I did have some lucky $20-80. I used to be in the same place as DS everyday come in to get shut down. I’d go home all stressed thinking why did I take that etc… Eventually I lowered my standards to get 20$ a day with a limit of losing $20. Over time I saw some consistency which then my target was set higher to $50 to loss limit of $50. I started to meet that target however I was still not “sure” because most of the office people are reactors and will get taken out fast, they do not anticipate price and you hear them scream and slam the table every time they. Eventually through some miracle I noticed a few discrepancies and though wait a tick I can transfer some of what I know from ICT’s material because it was based on this in general then I started to see $100 on average daily with maybe 1 day out of 10 (its becoming less now) where I bust out and lose -$50.
Today I saw my first $200 day and I intend on keeping the same deal with half the effort or the same I am putting in now because funny thing is I will almost always have an order already in the works it will be somewhere between 2-5c against me with 1000 shares so -$20-50 then I will see it go from -20 to +30 to +50 eventually up to +100, I’ll hear my indicator, the room of FT traders scream **** slam the table and I laugh and giggle in the corner and sit back and nab the 10-20c runs.
Granted I still need to learn to hold because my key strength is now pivotal price points I could nab 30 easily and maybe more if I was a bit more hold oriented but if I feel market behavior is off, which is now, I will scale out fast.
So my point in all this is you can fool yourself into believing you can do something when reality sets in you HAVE TO SEE PROGRESSION otherwise your just wasting your time in my opinion
PS - I take under 10 trades a day, Minimum 2 trades in an office that makes ATLEAST 50 trades a day looking for 2-3c
i think anyone can do anything they really want. just because your retarded doesnt mean you cant learn your abc’s just that youll learn them slower. its more about the want to. and some people just have certain traits that are advantageous.
Well even slow learners show some progress is what I’m trying to say, I am a 2nd AC trainee and I know this all too well. Its not that I can’t do it, despite what the B camera unit would say its just that I realized part way through I don’t want to suffer even in the crew photo I keep constantly get told that why am I the only one who has a twinkle of hope in their eyes everyone else looks so jaded.
I knew I wasn’t incapable despite what that one woman said, otherwise they’d just send me to the truck and make me sit there, not let me slate, swap tripod heads, or touch anything at all it was a progressive period because they slowly gave me more stuff to do. I didn’t have any taste for the work near the end so I really didn’t put any effort despite me remembering the system. Don’t get me wrong I gave it my all initially, but I learned quick it wasn’t something I wanted to do anymore.
The whole if you set your mind to it is limiting belief because you need to always keep an open mind and that goes hand in hand with trading because your strategy may work the mean time until it doesn’t then your fu*ked.
:22:What’s wrong Bonds , Indexes both are declining?!?!?!:33:
imgur: the simple image sharer
imgur: the simple image sharer
I can tell you this the SP500 is near its old high err one of its not the extreme but close
Try pulling some ICT fibs on the 10yr, zoom out for S&R, and look where the USDJPY is trading. Still going down???
On the way up, we have a volume bar with progress indicating a bullish market, however the next bar is also high volume but this time there is no progress and a further high volume and still no more progress in that direction, indicating that the move is running out of steam, also we are getting into new price territory. Then on the way down there is no reaction top the bearish move, i.e. no bullish sign straight after, so we assume it’s going to carry o until we know different.
And therein lies the issue with VSA, it’s often the reaction that confirm the move, and therefore you lose a number of pips waiting for that, because you couldn’t really trade that setup just on VSA, there is always the possibility that it will do a further nudge, and that’s where the OTE comes into play, as on the 1 hour chart with that trade, it gives you the precise area to indicate that it’s the last nudge and it’s unlikely that there will be further progress before having to wait for the reaction, and also it’s quite likely that we were looking at a Judas swing, the volume stuff is just the last piece of the jigsaw.
That particular trade is quite a poor VSA example, it can get a bit wooly, the clear sign of a reversal is one high volume bar with a narrow spread candle, ideally a pinbar, with VSA you have to wait for the reaction to that to confirm the move, but with ICT’s stuff combined with that you get all the extra clues you need before the reaction to keep your stops tighter and your profits closer.
So the main thing we want to be looking out for in conjunction with ICT’s methodology is the high volume narrow spread as a final confirmation of the OTE entry. Low volume for trend continuation is exactly that, the continuation of a trend, which is great in a trending market, half a move happens then low volume then you tend to get the the other half of the move, it’s one of the easiest most profitable trades to spot, but as we know the market doesn’t trend most of the time, and that’s when high volume pinbars come in to play with OTE.
The irony here being that the easiest most profitable trend continuation trades are ideal for newbies, but you have to have patience, and more often than not, that’s what newbie’s don’t have.
Hey guys,
I have been trading ICT’s methods for the last several months and have had quite good success during this period (win rate of around 67%), I think at this point I am ready to share my blog which goes over how I enter my trades and the thought process, I dont claim to be an expert (and actually only trade very few of ICTs strats that work for me) but believe we can all learn from each other so I welcome any and all comments regarding my trading strategies, I will try to help out where I can and definitely try to answer all the comments should I have the time.
In the past I had tried to follow this forum but the rate at which this and the other thread move are just too overwhelming and thought that posting my trades in a blog would be a much better resource for me as a trader and anyone else who trades similarly compared with the forum where I must go back several pages to see what people have to say about it.
For exactly how I enter and close trades please refer to my very first post which was posted several months ago, it goes over my general trading times and entry methods, although my exit has slightly changed over the past month or so the essence of my trades is there.
Anyway’s without further ado my blog is located at:
I would like to once again thank ICT for the incredible videos and guides he has created for all of us, it is a invaluable resource that I will definitely cherish for a long time.
Hope we can have some good discussions and learn something from it!
EDIT:
Just thought I would add a post I posted here in the forum on April 29th which goes into a little bit more detail the way I trade, since the blog was initially designed for personal use much of the time I do not write things which I know I won’t forget, hope this will be useful for anyone reading
I’d just thought i’d offer my two cents into how I trade ICT’s methods, I’m able to trade full time at any timezone so have the luxury and freedom to trade whenever, but in the past this lead to over-trading which caused a serious impact on my account. My breakthrough with ICT’s teachings wasnt really his excellent entries and exits he teaches, but his core concepts he talks about at the start of his video series. For any of you having trouble trading ICT’s methods I strongly advise you to watch the videos on risk management and trader psychology. Alot of us take this for granted as we rush to look for the holy grail of trading, forsaking the most important parts as a trader… consistency, it doesn’t matter if you make 100 pips one day only to lose 30 pips for the next 5 days, you still lose overall.
Anyways how I trade:
Goals: Look for 2 trades per day, one at london open, one at london close (these are the kill zones i’m most comfortable with)Conditions: I only watch and analyze Cable and Fiber, I feel these two are more than sufficient to be a successful trader, as they are highly correlated and provided plentiful setups throughout the week. Any more that 2 pairs seems to distract me and this is counter productive for me. I only risk 1% of my account on every trade (once I get more confident in trading I will increase to 2% but never more than that)
Analysis: I spend about 1 hour thoroughly checking Fiber and Cable prior to london open, checking the asian range, adding new levels of support of resistances onto my chart (this is critical) then trying to anticipate what the market will do (based on higher time frames), I like to see where possible OTEs may arise for different times of the day, for example before london open I will look for a OTE at a support/resistance if there was a judas swing first (so I can get in sync with overall trend), and at london close I will once again look for a OTE support/resistance for a counter trend trade (london close strat).
How I enter: Once I have determined possible entry levels I setup an automatic entry point, i’m sure many of you are thinking that this is a newbie mistake, but I feel for me it helps my discipline. I can’t tell you how many times in the past I have accurately predicted a swing point to within a few pips and set a price entry point, only to have entered manually 10-15 pips before this price was hit. For now I will continue to ONLY use automatic entries until my discipline improves and I am able to enter manually without being so emotionally driven to enter early. If no automatic entry point is triggered then I do not enter any trade, there is no need to trade setups that are not optimal and this is a important lesson I have learned - even if you spend the whole day analyzing and you aren’t able to enter a trade, this doesn’t make you a bad trader it just makes you a disciplined one.
How I exit: I ALWAYS double tap, at 20-30 pips (depending on support/resistance levels) I will remove 50% of my position and set the remaining to break even. Right now I’m having trouble with leaving the remaining position on as long as possible (actually I am never able to leave a position open longer than 1 day, probably because in essence I am a day trader at heart) I would love to fix this if possible because I believe one day I’m going to miss out on a 300 pips winner but for now closing athe majority of the position around london close (if I opened it at london open) has worked well for me.
Results:
In the past 2 weeks I’ve had 18wins and 5 losses coming to approx 350pips. It’s given me a huge confidence boost, and I must say there is nothing more satisfying than nailing a swing point to within several pips.Just like to say a big Thank You to ICT, hopefully I’ll be able to catch you in chat soon I’ve still got so many questions and so eager to learn!
I hope how I trade will be useful to some of you, I’m always open to suggestions on how I can improve my trading method.
And for those of you who haven’t had success with ICT’s methods don’t give up, he is the real deal! Try to catch him in chat if you’re having problems I’m sure he can give you some invaluable advise on how to improve your trading!
Hey Fible,
Your results sound really great. And just wanted to check wether I got you right that you made 25 trades within 2 weeks? Which is minimum 2 trades a day! Quite aggressive approach you have then…
Unfortunately I can’t really remember what I was doing back in April (I should probably check my spreadsheet to make sure) back then my discipline is definitely not as good as it is now, but if trading conditions are right and I can find entries is it not uncommon for me to find entries in both London Open and London Close for several days in a row, Hope this helps!
EDIT: Upon checking my spreadsheet it seems that during the two weeks previous to writing that post I was entering into ICT trades other than just the OTE which I now exclusively trade. This caused me to have sometimes 3 or even 4 trades in a single day! Definitely over aggressive!
Also I should have edited my post but after re reading what I wrote I should mention that at this point in time I no longer use a automatic trade entry as mentioned, I abandoned this about a month ago when I felt more comfortable entering manually, this has helped quite a bit too.
This is my first time posting on this thread.
I have been trying to learn ICT methods of trading since early this year. I am still learning and would appreciate any feedback and opinions on the possible trade setup I am looking at.
I am looking for a potential trade setup on the EUR/USD on the H4 chart. I am looking for a possible OTE entry using the LTL from 8/2 to the LTH on 8/10. I am still waiting for price to trade down in to the OTE and will be looking for possible A/D divergence and unless the cable tanks significantly, there should be divergence between the fiber and cable, as well. I will have to confirm each before actually entering the trade. I will be looking for a sweep for stops below the ITL on 8/10. I have attached a copy of the E/U 4H chart as well as the GBP-USD 4H chart. I have highlighted the possible A/D divergence on E/U.
What is you guys thoughts on this possible setup?
Marcustennisfan, Take this with a grain of salt as this is another newbie’s viewpoint, but I was also looking at this one as a possible trade. I also have a support level noted on my chart in the range of 1.2225 and 1.2217
Dear Tansen,
Thank you for your comments, not to get into a war of words but I feel the quote is being misunderstood - it was originally stated by Henry ford and I changed \ adapted it to fit the forum.
you say ‘HAVE TO SEE PROGRESSION otherwise your just wasting your time in my opinion’ -
Although a valid point it is misinterpreting what I am trying to say.
You believe in seeing progress to know it is possible, I am simply trying to say ‘IF YOU BELIEVE (hence the word BELIEVE) YOU CAN DO SOMETHING (make money trading in Forex) you can – if you BELIEVE you cannot………
My words\posts are to hopefully inspire and instill the discipline to stay the course and do what is necessary and keep people in the game and not quit at the first sight of a loss or losses.
ICT and other great forex traders have proven beyond doubt you can make money in Forex not to mention the score of readers posting profitable trades.
Thomas Edison had 10 thousand failures before the invented the incandescent light bulb. Henry ford was laughed at when he wanted to create a cheap affordable car.
You state ‘you can fool yourself into believing you can do something’ my comments are that yes you can as long as it is a believable goal – ICT talks about patience and small risks – if one is following his methods to the letter then the losses and gains are a foregone conclusion.
I felt compelled to reply as I think your opinions may get people to re-evaluate if they should carry on or not.
Like I said I do not want to get into a war of words and hope we can be friends and laugh about this in future.
P.S I did not have time to full check out Moneynvrsleeps, sorry bout that.
Kind Regards
Sunny PiP
Oh yeah, don’t worry I get what your saying too I just take a highly-pessimistic approach to lower my expectations so if the thing comes in and it comes in better than expected i have reason to be joyful