The Inner Circle Trader's Millionaire Traders Guild

Go back one page. It was posted on 3/31

Hi Wally, thanks for the excellent tools. :slight_smile:

I have two questions because i am a little bit confused. In the SMT_Indexes tool boxes, there is a 1_DJ_USDX_mirror and 1_USDX_mirror. What is the difference of those two indicators? I loaded both and compared them, sometimes they show different results (one has HH but the other has not). Which one is better for SMT?

Another question is thatis the 1_Gold the XAUUSD indicator?

Cheers, :slight_smile:

The USDX uses the traditional formula but is flipped so people can compare highs with highs and lows with lows.
The DJ_USDX uses the same formula as the FXCM one that ICT is showing in the videos, it was made in response to a discussion on the indexes (Iā€™ve forgotten which thread). The differance is the traditional is heaverly EUR weighted where the DJ FXCM is evenly weighted EUR,GBP,JPY,AUS.
And the Gold is just the XAUUSD made for a request.

Wally

Wally,

Thank you so much.

Csk.

Was fortunate to catch ICT in BP chat yesterday and was telling him about a trade I took and am still in. He encrouraged me to share it here. I took this trade as a simple S&R trade short on EUR/JPY. Risking approx 1%. Short from 111.00 and added to the position at 108.50 after a swing up into resistance and moved my SL to 108.70. If the trade goes against me Iā€™m net 210 pips. My target is 106. The magenta line on the chart shows my ā€œnetā€ position where Iā€™d be at BE if I put my SL there. Clip2Net ā€” screen capture tool for Windows, Android, iPad, Mac, Linux

At this moment Iā€™m +310 pips.

GL to the GT

Very niceā€¦ are you just looking for long term swing trades? What TF did you trade from? What was your stop value initially? Good Luck

Wow nice entries! Very well done.

Hereā€™s a very interesting and important article regarding your trade risk and possibility of ruin. This is a great read for anyone who is confused on how much you should risk per trade and what type of ā€œwinā€ rate you need to prevent account destruction.
The Risk of Ruin Tables You Should Know | 2nd Skies Forex

Great job. Iā€™m still in a short I took on the swissy yesterday morning. Iā€™m +40 right now

Hello everyoneā€¦ just want let everyone know I survived my first three weeks of live trading. It was a little rough finding my grove but probably only a trade or two away from BE now. Personally I would like to trade LO but found that I am actually better at spotting higher time frame S/R reversals. Still making quite a few mistakes which is holding me right under BE. Part of the problem is find the best fit for right now. The money management has really been key in keeping me afloat, thanks ICT. I know have the nerve for riding larger swings from my time spent in Stocks and it just matter of weeding out more of the bad habits of old. The link is to a journal post I did for a Swing I did over the last week.

Journal Entry: Trade Detail | MeetPips.com

This was only a 0.5% risk trade with a 50pip stop. Started the live account with a $100 to prove the ICT concepts to myself and that it can be done with almost any amount. Once I get more consistent and profitable, I expect to ramp up operations. The plan is to be open with my progress for accountability purposes. I have been using this first month of trading to get re-acquainted with live trading. I hope to have everything tuned up by the end of next week with at least BE or a small gain and build from there.

Cheers.

If I didnt know better that looks like a trade I would have made lol. Congrats good to see you are grasping the concepts. They hold there weight in gold thats for sure. Another thing if you say your better not trading LO then dont trade LO. Trading LO is not a must but is a major player in the market structure. I find when I wake up for LO my trades are not up to par as I am tired and wanting to go back to bed to get some more sleep before I go to work. Because of this I tend to not read the charts but instead count the sheep in my head and this can cause bad decisions when trading. So I choose for my accounts sake for now not to trade LO. As I feel I am paying to be pissed off and tired so whats the point. Top down analysis can make it with out trading LO. Just keep in mind a judas swing does happen almost everyday at LO so if you are placing trades during the Asian session keep that in mind or your stop will be raided. There are plenty of other gems here that will get you where you want to be. For instance I remember seeing ICT in a webinar where he said watch for weekly direction to change on tuesday. This still blows my mind but that little piece of info that I looked on my charts (I trade the aussie as it fits my times to trade) and seen it was so obvious that combined with OTE and other concepts I have hit some of the biggest swing trades of my trading career.

Good job on your swing trade and best of luck to you my fellow babypippster

Thanksā€¦ I have seen some nice setups in the Aussie a bit earlier during the Asian session. If I really wanted I can catch a 9 or 10 GMT entry off a good Judas if its there going into NY. I have used Limit Orders on occupation to get into some trades but have missed some profit targets trying to keep a minimum 2:1 profit/risk and stopped out on the other end having to use a smaller stops to be able to use a smaller profit target. Itā€™s much easier to be able to make the entries at market in LO which conflicts with early start time at work so I have been holding for more than a single dayā€™s range giving me more room to work the ratio. As of late weakness in the Fiber has been attractive showing up bigger ranges than Cable or the Aussie. For now itā€™s just working S/R, Price Action, Fibs, and a little Kill Zone knowledge. My trading plan has me only adding newer tools and setups as I get proficient and profitable with the foundation concepts. Good luck to you as well bobmanic.

Thanks for the heads upā€¦ back to the render. :slight_smile:

https://www.vimeo.com/39985411

[B]GLGT [/B]:57:

There is OTE in US dollar Index in 4hr chart, does it mean we are going to see a market reversal in Co-related and reverse related pair? Michael/Seniors can you make comment please?
Regards


ICT, could you post the link of Market Review in Youtube PLease? Vimeo is slow and does not download to our end.

I have a suggestion - ICT, could you please post in this thread your noted key S&R when you do your market review. Not necessarily when you make a video. I know they are usually the same, but its nice to keep them noted. Even if they are the same its easy to copy paste that info :slight_smile: would be really grateful! Nice video btw.

Probable Judas swing in progress on aud/jpy. The USD/JPY has just bounced off .382 retracement level on the daily chart. (looks like a possible reversal for the yen to retest 84 level in USD/JPY. At any rate, I just entered on AUD/JPY at 83.50. Targeting a retest of the 85.00 break during NFP.

This will be my first attempt at trading a judas swing (a concept I was only introduced to recently by ICTā€™s terrific videos) weā€™ll see how it goes.

As price is stalled here and Iā€™m waiting for a breakout in either direction, it occurs to me that GPB/JPY is set up for a much better long trade than AUD/JPY due to the relative strength of the cable. Oh well.

Had a loss today going long on the cable at 1.5880 and a loss in the fiber aswell at 1.3090. Followed 4hour market flow , plus took the trades following an OTE on the cable from previous day low to asian range high, thinking i got stopped out since the markets wanted the real low stops plus yesterday being holiday for Eur and GBP.

Despite it, in a sense, I really donā€™t care of the loss and iā€™m looking forward tomorrow to see if thereā€™s a trade following my trading plan. Although the loss was considerable, iā€™m really not bothered at all by it. Is this normal?

EDIT: noticed that prices jumped back up a bit of a while ago after stopping me out although I decided not to take anymore trades since Iā€™m up to my daily limit, mood is still indifferent with it and looking forward for tomorrowā€¦should I be concerned?