Hi LD,
I notice in your post you use ADR to trade cable. can you please share little details for newbies like myself, how to use ADR to trade Cable?
I your previous post you mentioned about 140 pips ADR what that mean?
Thank you and GLGT 
Hi RC,
I am using Oanda and happy with it. They also have MT 4 and you can trade any lot size.
Hi AK,
Thanks for posting. dose it happen always ? Is this how we should trade NY open ?
Thanks
Hi Ali,
In the SMT chart how we know which pair is leader and which is follower?
As we see cable making lower highs and fiber making higher highs.
Thanks always
FX,
the ADR is the average daily range. To calculate it, subtract the low of the day from the high of the day. Add the last five dayās daily ranges and divide by 5. This gives you the ADR each day. ICT calculates it using midnight EST to midnight EST. I calculate both EST as well as the Ausssie open to EST close timeframe (5pm EST- 5pm EST). Sometimes EST is more accurate, sometimes using the Aussie open is more accurate. Today the Cable was within 2 pips of the Aussie.
This is one of the most important tools I use to trade the LC. Hope this helps.
Hi LD,
Thanks for reply. Few more questions if you can answer
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what is 140 pips ADR you mentioned earlier in a post ?
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Should we use ADR with other confluences or alone ?
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Is it only good during ranging days ?
Regards,
Thanks for the compliment, but I am by no means special. It just takes time for ICTs concepts to start sinking in, and when they do, a once blurry picture starts to become clear. The amazing part is how ICT manages to open up our eyes to what is really happening. Not everyone will have the patience to stick with it, but those who do will be rewarded on so many levelsā¦forget about the dollarsā¦just doing it for the āaha!ā moments is worth it
The stuff on NY scalp hasnāt been released yet. I think it will be part of the overall āany time zoneā scalping method that will come after LC Tactic Course. I would advise you to be patient and wait for ICTs teaching rather look elsewhere and confuse things. It is best to work with the tools that you already haveā¦by understanding these on a deeper level you will start to see where he might be going with other aspects of the teaching. The most important thing would be determining the direction for the day.
As for the time zones, well that is a confusing one. You could argue for an extended NY Open time zone, and a shortened London Close time zone, but I have been working on London Close for 3 months now and I am blinded by the LC scalp. London traders do actively taking profits from as early as 10am NY time - that I know for a fact. But of course it doesnāt always happen that early, and it often never happens at all - which is the reason you can make a nice long NY session trade. Until I study more about the NY open myself, I feel happy looking at entries around 8:30am, but not after 9:30am.
Know your toolsā¦all of your tools.
Start with finding a possible entry, and go to the SMT last.
Cable was coming down nicely after hitting a resistance area the day before, but Fiber didnāt want to fully come down with it. When Fiber starts heading back up you have to ask yourself āis it reaching for a level that it wants to hit before fully distributing with Cable?ā This is where you need to look at your longer term charts.
Cable reached nicely up into OTE zone, but Fiber was never going to make it up there once Cable had started distributing. So what levels might it be reaching for? 50% for one, but what other confluences are around there? Iāll tell you the obvious oneā¦the institutional numberā¦but try and work out the other major confluence. Iāll give you a hintā¦you needed to calculate one of them at the beginning of this week, and the other you needed to calculate last thing on Tuesday night 
These are the big guns, and price went over about 20 pips or so, but that is to be expected with these tools.
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the140 pips I said earlier was incorrect, my calculated ADR was 121. I think price had gone to 119 PIPS when I entered
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It is always best to use as many confluences as possible with any entry. Today I entered at OTE after price moved back up. You also want price to move back up at least 30 PIPS before it presents an OTE. If you enter right at 121 without an OTE, you will probably get burned. Iāve done that before
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Iāve never used it on ranging days since price does not usually meet ADR. Today the Cable met ADR, but the Fiber did not (during the LC). Since an OTE was not presented until after LC, I was not looking to gain a lot of PIPS from it. It seems like the earlier ADR is met, the more PIPS you can pull from the market
Thanks, after doing a little searching, it seems that Oanda has gotten some fairly good feedback with few complaints. The one Iām afraid of is the loss of connection that a few people have complained about, but I suppose I can just hedge in my TradeStation account if it comes down to itā¦
Hey everybody,
caught a nice turtlesoup setup today
GU was trying to break the support line the whole asia session, which was very near MS1 at London Open. SMT was showing that EU made higher lows while GU was doing lower lows. That was a bullish divergence and then price break through the resistance and MS1 just 15 minutes after London Open. I entered when it passed MS1 from the other side at institutional level 1.6320 and set TP to 30 pips 50% and 70 pips 50%, because I still sometimes have problems to let it run without taking some profits out It could possibly reach 90 pips before it may take a break at last days S1 and todays MR1 with ADR High very near. I choose to TP at 70 instead of 80 pips because of 1.6400 institutional level, wasnāt sure if it could touch it before it takes a break and 70 + 30 / 2 = 50, which is a nicer number 
while I was typing this it has reached S1, but Iām very happy with my profits and that I not went greedy. Anyway Iām done with trading today. I will just watch NYO and LC =)
Hi FX,
Same time there was a news (Construction PMI GBP) at 4:30 AM EST. Which came positive. This is the same time when price headed up. What if news was negative ? It could have gone south ?
My question: Is not you just traded a news and luckily got on the right direction ?
Regards,
Thatās true, I was asking myself the same question. But I think ICT mentioned that the only news event heās looking for are the Non Farm Payrolls. I hope somebody else can give an answer to this one hehe
Haha, Ali and AK are the best traders using ICT trading. =) I owe them quite a bit too.
Hey Ali,
What are you using to look at the SMT? It looks pretty clean, and itās a desktop application! Iāve been using an inbrowser one and it slows down my computer by a bitā¦
Regards,
Clark.
Just finished the A, B, C videos. By far the best thing I read so far about Forex Trading!
I totally fit on the description of the āNewbieā and watching that made me stop and rethink a new approach.
Thank you!
ps. just a little note: the folowing links are not working?
5) The ICT London Close Tactic - [U]View Video[/U]
5.1) ICT Trade Worksheet - [U]Download File[/U]I am currently in a LC demo trade. Entered at 1.6310 right above support in the 1.63 range. Have already taken off 30% at 30 pips and letting this one ride a bit. Looking to close the last of my position at 100% of the retracement at 1.6417, 50 pips in the green at the moment
Hereās a better visual of my trade setup. Since the high of the day was in the early portion of the London session, it may end as the high of the day, so I am looking to take the rest of the trade off just under that area around 85% of the retracement at 1.64 (round number) or will let it travel back down to my entry for BE on the final 33%.
Looks like the forum really cut the size down on my image, even as just an attachment it wonāt show at full resolutionā¦
āNo man is an Iland, intire of it selfe; every man is a peece of the Continent, a part of the maine; if a Clod bee washed away by the Sea, Europe is the lesse, as well as if a Promontorie were, as well as if a Mannor of thy friends or of thine owne were; any mans death diminishes me, because I am involved in Mankinde; And therefore never send to know for whom the bell tolls; It tolls for thee.ā
John Donne. Devotions upon Emergent Occasions (1623), Devotion XVII.
In simple termsā¦we all owe each other
Nice entry RC!