What Every New & Or Aspiring Forex Trader... Still Wants To Know

You alway got to remember the weekly candles must have wicks most of the time to. So when price opens for the week then makes a high and drops. At the end of the week you will most of the time see price move up off that low to close out the week. I think it is due to big money collecting weekly profits. Same as the daily why do you think price reverses around LC banks are cashing in for the day.

Sounds about right :slight_smile: But I’m sure ICT was saying that we’re still in a sell program on the fiber? But in any event, are you guys expecting this week’s low to be the start of the seasonal upwards trend in foreign currencies at the beginning of the year?

True, I agree with that concept, but it can’t be profit-taking if the week’s closing price ends up being significantly above the opening price… That would mean that it was a buy week. This week on fiber was -
Monday - buy day
Tuesday - neither buy nor sell day
Wednesday - sell day
Thursday - buy day
Friday - looking like another buy day

3.5 days out of 5 being a buy, price ending the week way above the opening price…

Aand stopped out. :60:

Me, not really. I´m just looking at that possibility considering current week´s price action. But for me it´s going to depend on how pairs close this week and how they open the next one. :slight_smile:

Here is what i think about the LC - Trade and what i hope will happen (and why i placed my SL above R2).


White cross is your SL, now taken out. Pink cross would be the SL of the guys who are buying right now. Hopefully their stops will be taken out and i reach my TP.

:58: how dare you help big money gun for stops lol

I got the bias wrong as well. I wasn’t really sure what to expect but I went into the trade thinking the high of the week had already formed. I went short fiber at OTE / MR1 with a divergence (fiber higher highs, cable lower highs). There was a bunch of news coming out so I probably should not have entered had I been on the safe side. Got in at 1.2757 and exited 100% of it at +30 pips because I was unsure where it was going. I was up managing stops at break even too.

1st day +2.6%
today +2%

Can’t grumble about that :smiley:

Yup, I dunno what gelled in my head, definitely was a buy day on the fiber as we all know.
I did a “set & forget” short on the fiber, just had to get some sleep.
If I was awake I could have avoided the loss as Stop loss would have been @ break even, Could have even had 50 pips!
Oh well, back to the text books…

Ok WOW, after a horrible day like today, I watch the ICT Open Access video - and GOODNESS ME this thing has enlightened me!! :smiley: What an absolute wealth of knowledge! I am actually so damn excited to trade now! Better make sure I turn off my PC until tomorrow before I get too eager lol! :stuck_out_tongue:

Got up early this morning and bought Cable at 1.5292. Set up a very Conservative TP at 1.5332 for 39.6 pips. Should have bought the Fiber instead. I’m hoping things go mostly flat for the next 10 hours and then a false bullish breakout at LO to set up a nice bearish move for tomorrow for the Euro.

It’s been a losing month so far, but this week has helped.

Seems like everybody is struggling with the new concepts ICT brought to us :slight_smile: I’m still only using the things I could read in the thread :slight_smile: Don’t feel the real need to get confused with new concepts yet, still mastering the existing ones and the things I grasp while reading your posts hehe.

We should definitly be aware of the bearish divergence formed on the cable before the incoming asian range. Could be a good fake move up into the OTE of todays high to drop down again :slight_smile: Let’s see how it looks in LO hehe.

greets

confusing day for me too. how can i find this video? could handle some enlightenment right now. thanks

Hi,

I’m new here but been trading for a while.

I just got a job offer at a broker and would like to know what to expect as a salary? / what “can you make”. The position is as a account manager.

Does anyone work with this type of position?

Thanks!

Cant belive how fast the threads moving, its insane!

On Cable, I traded the NYO judas swing down, scalped it to the asian session high for 20 pips and i was outta there. I also thought it was a down day when i entered but luckily i realised in time.

This template anaylsis and the material released lately has really BLOWN MY MIND :cool:

That depends on where you live… You can expect 35k to 45k in Canada.

Its here TheInnerCircleTrader - live streaming video powered by Livestream

hunter, thanks.

Ok, cool, I guess that’s is based on how many client you sign? Sort of say commission. Right?


Ok so above is todays 15min on the fiber that we have all been talking about. I was on the losing end today looking for a sell in the OTE, but at the time of the trade I was thinking to myself what stops might be near that price would want to blow out to help my move down. I didn’t see any and this bothered me but I still took the trade based on other factors. I was just looking for an opinion because a false move up usually is blowing out stops to facilitate the move down or vice versa and I wanted to know if I was correct in thinking that price may not fake up then eventually go down based on the fact that potential stops were so much higher that price at the time of the London open. Thoughts opinions …Thanks everyone!!!

EDIT: IMO stops placed at levels of yellow circles.