The Inner Circle Trader's Millionaire Traders Guild

[Tansen]

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.

ICT mentioned yesterday you can but take very fast profits. But you must trade within the HTF premise because that is overall more profitable.

[FredFresh]

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

It really depends on how things look, how confident I am about my trade and the lotsize Im trading with.
normally I take off just a small bit at 20-30 pips and the rest I then scale out later on.

yesterday I only traded 0.025 lots.
below 0.1 lots I often don’t scale out anything at 20-30 pips and instead let it run.
Yesterday price didnt move up as quickly as I’d wanted to see, so I scaled out 0.005lots at +25pips, moved SL to BE, and wanted to hold the rest until 1.5880ish/ADR/15.00GMT but it clearly rejected wMR1 so I lost confidence a little for price to reach up there…so I took off 0.01lots at around +35pips, and left 0.01lots on the table in hope that it will still reach higher.
So it was actually a bit more than a third that got stopped out…
my little brain can just process full numbers better hahaha
If my initial lotsize was for example 0.026, then I would have scaled out 0.006 lots at TP1.

Those tiny lotsizes are explained by me trading my first tiny live account (to get my feet wet and get myself ready to add the rest of the funds at some point) and I’m only risking 1% max for now…

hope that helps
cheers

[PIPhanger]

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 ?

Yes i noticed this also, but the higher timeframes are saying this pair is very weak so I basically ignored all bullish SMT at the moment. If you look at just SMT it will trick you many times.

[Squidge]

Was anticipating a Judas Lower on Fiber this morning to around the 1.2500 - 2490. Mondays A/R with this week’s Hi/Lo Sspot/OTE and a 161.8 extension from this swing to the upside this morning. Will wait and see what NY brings.

[tastefullvenom]

… cable working that weekly open as I write …

[DonaldQ]

ICT mentioned yesterday you can but take very fast profits. But you must trade within the HTF premise because that is overall more profitable.

Ok, thanks for response, Tansen. So I just ignore all the signals the lower TF is giving me and exercise patience, waiting for when they line-up/synch with higher timeframe?

[Squidge]

Still flat this morning… turtle soup buy would come in @ fig if it drops within the next hour…

Was anticipating a Judas Lower on Fiber this morning to around the 1.2500 - 2490. Mondays A/R with this week’s Hi/Lo Sspot/OTE and a 161.8 extension from this swing to the upside this morning. Will wait and see what NY brings.

[Tailung]

It would be great to have the source-code of the 20-80grid indicator, so I can tinker this one.

@MCAWally

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

[arjfca]

InnerCircleTrader divergence:

Anyone could wrote me a succinct description of ICT divergence type 1 and type 2. I just don’t find where does he explain the difference between them.

Any input truly appreciated

Martin

[SanJ]

@arjfca

InnerCircleTrader divergence:

Anyone could wrote me a succinct description of ICT divergence type 1 and type 2. I just don’t find where does he explain the difference between them.

Any input truly appreciated

Martin

Simplez my friend…

I tend to use the divergences most with the stochastic oscillator, but it can be used with others too:

Type 1:
Are your standard divergence where price is making a higher high / lower low and the stochastic is failing to make the same higher high / lower low to its relative price swing

Type 2 (Trend following):
Are divergences where the stochastic oscillator is showing a higher high / lower low and price is failing to make the same higher high / lower low compared to its relative price swing…

Note the example of both below:

How Pros Use Indicators - Inner Circle Trader - YouTube
^ From 11 minutes in

Hope this helps

:57:

[arjfca]

@SanJ

Simplez my friend…

I tend to use the divergences most with the stochastic oscillator, but it can be used with others too:

Type 1:
Are your standard divergence where price is making a higher high / lower low and the stochastic is failing to make the same higher high / lower low to its relative price swing

Type 2 (Trend following):
Are divergences where the stochastic oscillator is showing a higher high / lower low and price is failing to make the same higher high / lower low compared to its relative price swing…

Note the example of both below:


How Pros Use Indicators - Inner Circle Trader - YouTube
^ From 11 minutes in

Hope this helps

:57:

Thanks a lot, lot,lot… I will study that

Martin

[MCAWally]

@Tailung

It would be great to have the source-code of the 20-80grid indicator, so I can tinker this one.

Only if you share with the rest of us anything useful you make

Here’s all the sources:
20-80 grid+source.zip (98.3 KB)

Wally

[propipsy]

what’s the 411…i’m curious

[bobmaninc]

When your injured in a accident get the 411. call the 411pain

lol sorry this reminded me of a commercial I hear on the radio all the time

[Tansen]

Lol, said I wasn’t going to trade last night, saw very little PA in LO then I looked during the NY KZ saw that it made a failed retest @ 1.25578 Thought hmm thats an ote short if I reckon.

Shorted @ 1.25573
30% off at 1.2507
30% off at 1.2499 by accident I wanted 1.24903

Holding remainder of the 40%

Taking 20% off at 1.2480 if it makes it there I doubt it, but lets see

[propipsy]

When your injured in a accident get the 411. call the 411pain

lol sorry this reminded me of a commercial I hear on the radio all the time

sure it is… need ur mentorship

[Pips_and_Mandolino]

Hi guys, I’m looking for some help and clues. My pc crashed past week… so now I’ve downloaded again the Ltd mt4 demo where I used to track USDX, Dow, Nasdaq and sp500… With the USDX no problem, but I don’t find anymore the charts of Dow, Nasdaq and Sp500 and I don’t understand the reason: is it me getting screwed up? Any suggestion?

Thanks a lot folks

[Pips_and_Mandolino]

Hi guys, I’m looking for some help and clues. My pc crashed past week… so now I’ve downloaded again the Ltd mt4 demo where I used to track USDX, Dow, Nasdaq and sp500… With the USDX no problem, but I don’t find anymore the charts of Dow, Nasdaq and Sp500 and I don’t understand the reason: is it me getting screwed up? Any suggestion?

Thanks a lot folks

Ok, I’m a bugger: problem solved…

[sonnygforex]

Hey guys just looking for some clarification on position size. Lets say I was to take a trade in the Fiber, risking 2% of my account which is $2500. Using the current price of 1.2510 (just for example). Correct me if I’m wrong but I’d be trading with 50$ which is 1 mini lot???

Thanks in advance

[Tailung]

ICT: for your twitter quiz: price is hovering and bouncing around 1.5800 en 1.5780 levels witch was a good old support/resistance level in the past.