Jimbo, I suspect that PPF was just expressing his delight at finding a trade that met all his rules. I really don’t think that there was any implied criticism of us if we didn’t see it? I’m sure PPF will get back to you.
It’s not arrogant, those trades are just few and far between, simple easy setups, that just work time and time again.
What I’m saying is, that when you see a big move like that you can trade the S/R pullback quite easily, there was no real need for much analysis for that, I did actually start a thread about it a couple of years ago, you’re not going to get very far just trading those, but when they do turn up, they are easy trades, nothing arrogant about it.
closed @ 35 pips.
Now all those ‘no-brainer’ traders may get their daily long…
Im glad you bit the bullet and took the trade based on your own analysis, and whats even better is that you profited from it!
Good job overall, and as ICT says, you dont always have to be right - you just have to be profitable…
The only thing i would jump in and comment on (which i think you may already know), is the movement of your SL. Your number one rule when trading (regardless of live or demo) should be preservation of capital, you have to get into the mindset that you should protect what you have - this should be more important than finding this 100+ pip winners. So its great on your previous trade you took first profit, but use that opportunity to take the remaining risk off the table and move your SL to break even - instead of pushing your stop further back. I know even if you got stopped out at that point your not losing anymore more than you’ve risked, but essentially, your giving the market back your hard earned profits.
You dont need a trade to work out 100% your way, if you manage to get a small bounce, take first profit, and then even if the remainder gets taken out at break even, you’ve made your money! Be happy with that and focus on a different setup. My mindset when i get into a trade is i want it to pan out enough so that i can take my risk off the table as quickly as possible and put myself in a position where i have nothing to lose, and everything to gain.
Also, think about the direction of the setups your looking for here. Where is the most money to be made? I personally like to take the trades that have big extrapolated moves that go my way instead of fighting against the tide where you tend to get sloppy movement in price. Im not saying for a moment money cant be made both ways, but just keep this in mind when you go to take a trade. Your currently hunting the shorts, which is fine and you say you made about 20 pips shorting - that includes having to hold overnight. But think about if your mindset was looking for longs yesterday, you could have made 4X the amount of pips in less than half the time.
Again, not saying money cant be made going down, but generally, the nicer less sloppier setups will be made with the trend. I think trading with the trend is a much easier concept that trying to counter trend trade especially for us noobies!
Good Luck :57:
P.S. Dont know if you managed to join last night - but since you took a trade yesterday, this is worth a watch:
Market Review 08_28_12on Babypips.com Inner Circle Trader - live streaming video powered by Livestream
So Squidge it seems you have reappeared.
You going to post those larry williams videos now that you supposedly have your new internet you told me months ago that you were going to upload or distribute?
Be very nice if we could nab em if you plan on disappearing again.
<== kinda minor butt hurt you made that promise to me then removed me and disappeared.
I didn’t “like” the comment because I took the trade. I liked that he was confident about his trade and then he backed it up with a reason.
Good luck today guys.
Cool man, playing it like a fiddle 
Search and destroy market profile, but this time it’s us getting our own back
happy trading guys.
yes, okay i had to keep silence for a minute and recompose my thinking. unbelievably insightful, and i wasn’t up to date on the Market Reviews yesterday, and 'm going to be from now on. grateful for the attention given to explain structure, flows, the long term bias and counter-trend trades. 'm seeing the entire thing differently. THANK YOU!
was not as much profit today as I’d imagined, but still a decent little trade…
my last 1/3 position was stopped at BE, when price dropped down suddenly. Thats why we scale out along the way I guess;)
tomorrow is another day;)
cheers
Well it’s been a funny old day, over the weekend (well what else do you do on a wet bank holiday Monday) I developed our very own COT report indicator for MT4, and I say [B]our [/B]in the sense that I will be publishing the code for you guys, I’m hoping ICT will get to the bottom of his emails and find mine asking him to have a look and maybe verify it against his stuff. I’ve got the indicator working, and is looking ok as you will see at the bottom of the image. I just got to put some bits together so that it will download the new data automatically, could take a few weeks to test!
Then I was tinkering with my indicators, pivot, and the trinity and the Asian session, and started to watch ICT’s latest livestream, where he says he wants an 80/20 indi, and I’m thinking[I] “no problem I can whip one of them up, I’d always thought that ICT’s indis were his own, but if he’s asking for a coder to do an 80/20, I thought obviously not, it’s a superb collection of indicators”[/I] , anyway the long and short of it is, I’ve been writing my own, exactly the same as ICT’s collection, but I like to tweak them to my own liking, you know, colours, settings and all that, and I think I’ve nailed it, even though I do say so myself, but I’m open to criticism (****sructive ;), I think when you look at this chart, you can see what is what straight away, but some like black backgrounds, so it will need a different set of colours, colour blindness? need to change from red green and blue? Could be good if we had a convention for it, so the same thing is the same on everyones chart, but the code will be published so you can always do as you want!
Give your views, and I will get it done and I will publish the mq4 file on here, least I can do.
I like the session indicator, because you can use it as a kill zone indicator and the volume come in handy.
The Asian session is not quite the Asian session, it’s an extended range from about 2am to 5am GMT, it works for me.
So, thoughts, guys.
Nice colours though, if nothing else
[B]Here is a little update on my trades from the 23rd…[/B]
On Thursday the 23rd I posted my trade entries, I held all trades over the weekend. I closed out of the Cable & Fiber short setups on Tuesday’s London Open. I am currently still in the Aussie & Kiwi trades.
Here is an image of my entry on the 23rd and another position I just opened today. I also entered another position on the Kiwi today. If I get time I will throw up some charts of the other pairs also.
[B]GLGT![/B]
I took almost the same Cable trade (1.5808 instead of 1.5807 - you beat me :P). You mention you only had 1/3 position stop out, how did you arrange your take profits? I typically do 50% at 20pip and move stop to BE, 30% at daily range, and 20% leave on. So in my case I stopped out at BE with 50% of the position ~ wondering where your second 1/3 TP was?
Thanks,
Paul
I know we aren’t supposed to mind the news, however I think Friday’s Jackson Hole speech will be on par with something like NFP which I typically avoid. That being said, I am thinking of watching for a solid OTE short setup into Friday LO to hopefully get BE in anticipation that Benny will dissapoint on QE3 tanking the foreign currencies.
What do you guys think about trading into Jackson Hole - good idea or best avoided?
-Paul
20-80 grid.zip (73.5 KB)
Here’s a grid builder to give the 20’s and 80’s it also does the 100’s and 50’s, this isn’t mine I just fiddled with the original code to get it to work. It’s set for 5 decimal price charts so for 4 decimal you might have to change the ‘gridspace’ option to 100 also if you don’t want the 50’s and 100’s showing up (too many lines) just change their colour to ‘NONE’.
I’ve also thrown in some other handy indi’s that I’ve found, ‘LineBoxes’ which I’ve posted recently in the thread (great for showing Fri and Mon asian ranges) and 2 Fib indi’s ‘Fibo_Independence’ and ‘Fibo_IndependenceE’ -extentions which you can load up and then just rename a trendLine (default is “fib1” and “fibE1”) on a swing and it will show the fibs but only the ones you want to see eg. only the .62, .707, .78.6 also just throw on another “Fibo_Independence” and change the TrendName option to ‘fib2’ and then draw another trendline somewhere else and rename it ‘fib2’ and then you have another bunch of fibs, this is great for those higher timeframe charts (Monthly, weekly) set and forget levels until price gets near them 
Wally
Hello Piphanger. Did you see the SMT between the KIWI and AUSSIE on 28th ? AUSSIE was making HL whereas KIWI was making LL. Was that a fake divergence ? how do you avoid it ?
Thanks ICT for the Market Review 08_28_12on Babypips.com Inner Circle Trader - live streaming video powered by Livestream.
When is it ok to make a counter-trend trade against higher TF? For example, now on the EuroUSD, I think higher TF indicates bullish conditions, but on 15M timeframe there is a confluence of OTE of previous day high and low, Judas swing up out of Asian session, daily R1 reached. And there is bearish divergence with stochastic.