The Inner Circle Trader's Millionaire Traders Guild

[FXTraderCro]

I did some googling about seasonality in the FX market.

Here is a link for an article:

Seasonality In The Forex Market - NASDAQ.com

Attached is a chapter from Kathy Lien’s book “Day Trading & Swing Trading” about that topic.

FX Market Seasonality.pdf (974 KB)

[thirdpillar]

Kind of funny I am in this trade reguardless of the fact I was not here to pull the trigger. My short last night hit TP1 so I took 50% and moved stop to BE. Somehow I forgot to move my stop. Stop was at 1.0010. It got missed by 3 pips on the test of pairty today (thank god). I will have to watch that as this trade could (and should) have gone from a winner to a loser real fast. I got lucky. 3 pips whew that close. On the bright side I am getting fairly good at spotting OTE. I seen that on a crapy yahoo finance line chart and happen to know where R1 pivot was since this is pretty much the only chart I look at I tend to see it in my sleep lol

“find one thing and become and expert at it”, thanks for showing us with a real example!

[pipcentral]

New here and new to forex. I’m thankful to have found ICT before picking up bad habits. Thank you Michael for sharing your knowledge. Before watching your videos, I thought I had to spend countless hours learning every single indicator before I could make a trade.

So I went through the babypips school and moved on to “What Every New & Or Aspiring Forex Trader… Still Wants To Know” I am now looking here to further my knowledge and do some demo trading. Looking at page 1 of this thread, I see

Module #1 View Tutorial
Module #2 View Tutorial
Module #3 View Tutorial
Module #4 View Tutorial
Module #5 View Tutorial
Module #6 View Tutorial
Module #7 View Tutorial

ICT Example Of Top Down Analysis View Tutorial

Are those supposed to link somewhere or is that still in the planning / development phase? Is there any new information that I may be missing from the other thread? I know I still need to go back through them all again and take some better notes now that it’s all starting to make more sense but just wondering what I’m missing here.

[sladhaFX]

^

They’re just placeholders for now. Once the material becomes available, the links should become active.

[PIP-JITSU]

I shorted the euro at 1.2598 and shorted the pound at 1.5575 and have taken partial profits and moved s/l to b/e but boy I’m wondering where things are headed from here. (hopefully down) On another note my broker (oanda) sent me an email as follows:" [B] Due to the extreme volatility some market analysts foresee could result in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EST until approximately 3:00 PM EST, on Sunday, June 17, 2012. OANDA believes the convergence of a major market event during off-market hours represents a potential trading risk and has taken this rare step to protect traders from excessive rate fluctuations.[/B] " Does anyone have an idea what this is about?

[lazydogs]

that will be when the Greeks vote for their next government. Should be a wild ride in the market. I’m guessing it will make NFP look tame

I shorted the euro at 1.2598 and shorted the pound at 1.5575 and have taken partial profits and moved s/l to b/e but boy I’m wondering where things are headed from here. (hopefully down) On another note my broker (oanda) sent me an email as follows:" [B] Due to the extreme volatility some market analysts foresee could result in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EST until approximately 3:00 PM EST, on Sunday, June 17, 2012. OANDA believes the convergence of a major market event during off-market hours represents a potential trading risk and has taken this rare step to protect traders from excessive rate fluctuations.[/B] " Does anyone have an idea what this is about?

[PIP-JITSU]

Thank you Lazydogs. GLGT to you:)

[Pipowski]

Yesterday the German Chancellor put a Euro Bank Union on the table… If the Greeks vote against the European Union, they’re gonna haggle for the rest of [I]forever[/I].

I recently read where Smart Money made a [I]fortune[/I] when the Soviet Union collapsed. Then made [I]another[/I] fortune when the Russian Stock market returned to it’s former levels within a short span of time. Does anybody here think the financial collapse of European markets is actually [I]engineered[/I] by smart money? Not to appear paranoid - at least not while I’m being [I]watched[/I]… just ruminating between sessions.

Mike

[StephA]

I shorted the euro at 1.2598 and shorted the pound at 1.5575 and have taken partial profits and moved s/l to b/e but boy I’m wondering where things are headed from here. (hopefully down) On another note my broker (oanda) sent me an email as follows:" [B] Due to the extreme volatility some market analysts foresee could result in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EST until approximately 3:00 PM EST, on Sunday, June 17, 2012. OANDA believes the convergence of a major market event during off-market hours represents a potential trading risk and has taken this rare step to protect traders from excessive rate fluctuations.[/B] " Does anyone have an idea what this is about?

I sure know what that feels like. I held a trade for the first time this past weekend (Cable - Long) and was glued to my screen on Sunday afternoon when price was spiking up and down. I had my finger on the mouse ready to close off the trade at +10pips … 10sec later… +50pips … 5 sec later … +90pips … 5 secs later … +20 pips… Now that was a wild ride for sure. I took a profit but realized that it could have taken my position out in a heartbeat.

[Pipowski]

I sure know what that feels like. I held a trade for the first time this past weekend (Cable - Long) and was glued to my screen on Sunday afternoon when price was spiking up and down. I had my finger on the mouse ready to close off the trade at +10pips … 10sec later… +50pips … 5 sec later … +90pips … 5 secs later … +20 pips… Now that was a wild ride for sure. I took a profit but realized that it could have taken my position out in a heartbeat.

I shorted the Fiber at 1.25184 and -19.6. I shorted the Cable at 1.55707 and -20.5. I bought the Fiber at 1.25689 and +21.9 for a total profit of -18.2 on my first day.

I ended up making 9 trades in all and I broke lots of rules… Revenge trading, Envy trading, Chasing Price - I feel like I’ve been on an all-night bender… ::56:

I am reorienting myself to ICT’s material. I’d started reading the “What Every New or Aspiring” thread but stopped at around page 15 - went to download his videos and got [I]totally[/I] sidetracked. I didn’t know he started new traders out on bare charts, reading and trading on previous highs and lows…

This is only the middle of my 3rd week and it’s so [I]easy[/I] to start to feel rushed… like I somehow don’t have enough time to really [I]learn[/I] the material.

Thanks Mike for the emotional management pointers, among other things.

-Rebooting-

[Pipowski]

[B]Trade #1[/B]
Pair: EUR/USD
Bias: Short
Price: 1.25450
Analysis: If Judas Swing appears to form, trade down into Wednesday’s low-Support at 1.25120
Target: 33 pips

[B]Trade #2[/B]
Pair: GBP/USD
Bias: Short
Price: 1.55031
Analysis: Bearish on Pound/Dollar going into Sunday’s Greek vote. If Judas Swing appears, price will range back into Tuesday’s Low. Support at 1.5443
Target: 60.1 pips

It’s all [I]much[/I] easier when I follow directions.

If anybody wants to comment or criticize or help me “tweak” this, [I]please[/I] feel free - for those of you old enough… “[I]Help me Mr. Wizaaaard…[/I]”

p.s., just remember it’s only my second day of S/R, bare chart, demo trading so in the immortal words of Woody of Toy Story fame, “Play [I]nice[/I]”.

Mike

[RobertoK]

Can someone give me a little clarification here? Seeing what unfolded yesterday, would we classify yesterday’s cable action as a reversal profile or was it a set up for a higher range day today on the long side since we are still in a buy program.

[sngerge]

Good to trade EURGBP and EURJPY? gapping soon?

[Shaer]

Yesterday the German Chancellor put a Euro Bank Union on the table… If the Greeks vote against the European Union, they’re gonna haggle for the rest of [I]forever[/I].

I recently read where Smart Money made a [I]fortune[/I] when the Soviet Union collapsed. Then made [I]another[/I] fortune when the Russian Stock market returned to it’s former levels within a short span of time. Does anybody here think the financial collapse of European markets is actually [I]engineered[/I] by smart money? Not to appear paranoid - at least not while I’m being [I]watched[/I]… just ruminating between sessions.

Mike

Smelling the relation with COT data for last few weeks, don’t you?

[Shaer]

@FXTraderCro

I did some googling about seasonality in the FX market.

Here is a link for an article:

Seasonality In The Forex Market - NASDAQ.com

Attached is a chapter from Kathy Lien’s book “Day Trading & Swing Trading” about that topic.

FX Market Seasonality.pdf (974 KB)

Thank you FXTraderCro for your important and informative post. I recall from
a PTC video Michael was also looking seasonal tendency to open account in
September 2011, as he trades Cable regularly. He showed a Moore Research
chart on Cable about seasonal tendency which was 8 out of 10 years cable going
up in the September.

Does any one has to share the latest seasonal tendency chart on fiber and cable please?

[rwhen19]

Hey ICT I have watched that video several times and I have also watched all of your videos including your first set that was removed. For some reason I am coming up with different levels than what you have on your market review videos. Thats why I was wondering how you get your key levels for support and resistance. I think thats where one of my problems are with being accurate on my trades because I think Im looking at the wrong levels. If it wouldnt be too much to ask, would you mind explaining how you get your key levels? Thanks for everything your doing.

P.S. I printed off a picture of the top shot honors and stuck it on the wall in my office.

[PureMuscle]

Smelling the relation with COT data for last few weeks, don’t you?

Hmmm, that doesn’t make sense to me… If the smart money knew that the Eurozone would collapse then why would they be stacking up longs endlessly. Imagine if the fiber drops 5000 pips suddenly - would they not make massive losses on all those long positions?

[FredFresh]

Hmmm, that doesn’t make sense to me… If the smart money knew that the Eurozone would collapse then why would they be stacking up longs endlessly. Imagine if the fiber drops 5000 pips suddenly - would they not make massive losses on all those long positions?

not sure but I’d believe 2 things:

1. I wonder if the fiber could drop 5000 pips suddenly without them wanting it to drop (?)
2. Since they are buying while prices are going down and selling when prices go up, I would assume that if prices where to drop drastically and suddenly, they would just increase their longs once again;)
   At the end, I am quite certain that smart money will walk away as winners, no matter what;)

this is pure speculation and I don’t have a clue about anything;)
cheers
fredy

by the way… my hands are very sore this week because I’ve been sitting on them constantly… just couldn’t get a hold of the market so far… maybe today…

[PureMuscle]

not sure but I’d believe 2 things:

1. I wonder if the fiber could drop 5000 pips suddenly without them wanting it to drop (?)
2. Since they are buying while prices are going down and selling when prices go up, I would assume that if prices where to drop drastically and suddenly, they would just increase their longs once again;)
   At the end, I am quite certain that smart money will walk away as winners, no matter what;)

this is pure speculation and I don’t have a clue about anything;)
cheers
fredy

by the way… my hands are very sore this week because I’ve been sitting on them constantly… just couldn’t get a hold of the market so far… maybe today…

Ah well, only the big boys know what’s happening

Either way, this week is turning out to be quite the rollercoaster ride!

[Shaer]

Hmmm, that doesn’t make sense to me… If the smart money knew that the Eurozone would collapse then why would they be stacking up longs endlessly. Imagine if the fiber drops 5000 pips suddenly - would they not make massive losses on all those long positions?

Hello Friend,

Wish your thought comes true! It seems to me Smart Money accumulates in low price
and distributes when price is high. They are accumulating to sell us (retailer) when
the price will up. Fiber is coming down from 13280 and swing was for about 1k pip and
I m considering this way. My thinking does not make any sense but it may happen.

Regards