I have the book “Street Smarts”. One of the first I got. I lost money using it. It was written in the 80’s with old style type and illustrations common in that era. The methods don’t seem to work in today’s market with all the high frequency automated trading (HFT) and hundreds of millions of new retail traders today.
I had signed up with power ratings on Larry Connor’s commercial site “tradingmarkets com” ; I lost a bunch on those ratings as well. If you look up other reviews on power ratings, most other people who tried it said it was a waste of time unfortunately. There are other services too, costing one or two thousand a year each. I saw a recent video from an email ad that showed Larry Connors. I was put off by it. he seemed to be reading from a teleprompter and promoting the “machine” a black box system to pick stocks. Costing thousands of dollars to use of course. I did not get the vibe he traded anymore for a living, rather he seemed ticked off his employees weren’t getting enough business for him, so he had to make a video himself and they spammed it to me.
Well it could be nothing is working in today’s HFT markets for retail trading/day trading and former traders know it and many are selling their signal or educational “services”.
Linda Raschke has a site too. But I didn’t check it out much.
So are you finding, that checking the USDX for support/resistance and trends, etc, you are more than average calling the direction of the coming day’s candle? As thats what i’m struggling with at the moment.
ps: streetsmarts - too much info!! arrrrghh… gonna learn turtle soup (and chpt 19 on range contraction looks handy…) and leave the other stuff for a while.
Yeah I did it all manually, using the ICT pivot calculator! I couldn’t find a MT4 indicator that I liked, but then I realized the 5 minutes it takes to do it manually really isn’t a big deal. I’m glad I have the Daily Pivot indicator, because drawing those daily could get annoying : /
_MT4Correlation provides a passable SMT. Below is a Cable chart w/Fiber overlay. The overlay does not show prices but the relationship is clear. I often use Netdania as well, it shows prices for both. Netdania is an in-browser thing so probably slows things a bit, but I usually have it open for other reasons.
Just a note to inform you that the Pro Traders Club has a fresh edition on the first post of this thread. enjoy.
As a personal favor to me folks and more importantly to those reading or those in the future… could we remove all the chaff from the thread and those posts not lending to the purpose of this thread? I would consider it a wonderful exhibition of character for everyone just to appologize, make ammends… and drop it and remove it from the thread. We have managed to keep it very focused and purpose driven thus far… let’s not drop the ball now.
Lastly, I have briefly… and I mean briefly… skimmed over the thread the last few days. I just wanted to comment on a book I was cited as referencing and it was in error by a thread member… I have not suggested a book on VSA or the book or books dealing volume spread analysis. The other book you are possibly thinking of is Trading in the Zone… which I do like. Not that VSA and volume doesn’t make pips for others… it’s just not my cup of tea. To each his own.
June! Wow three months to go… and the hunt begins.
Great video ICT! You really gotta be on the ball to call the shots like that
I “rediscovered” the ICT ADR indicator today, when I realized you could put in a preset value, instead of the 5-day average, and the tool is back in my arsenal. I thought it was just for the LC guys, as an entry criteria, but using a Preset value, I can nail down some more aggressive targets on my swing trades(by targeting my estimation of the daily range) and hopefully catch some more 100+ pip moves!
So thanks ICT for making the manual settings on your ADR tool :41:
After some effort to locate the indi pictured below I figured it easier to just ask. The pic is of a chart Ali posted, tho it seems others here use it also. Please someone point me to where I can get it or at least tell me the name so I can try again.
Thanks for the pointer… it looks good. Problem is it didn’t tell me just what I expected! This is probably good tho as now I can try to figure out what my own analysis is lacking! (hehe) S/R & Top Down video reruns coming up. One question now, if I may: does the indi rely much on Fractals? or a little?
Sorry if it’s a little off topic, but have a couple MT4 questions (first night playing around with the platform)
First off, is there any way to get a horizontal line to follow my cursor when it is over the chart? This is one thing that I have gotten really used to, makes it extremely fast and easy to spot S/R levels.
Secondly, is it possible to open multiple desktops? I’m using 3 monitors, but the center monitor is turned 90* so I can’t really just drag and pull a single desktop across the monitors.
If there’s any good resources for learning the MT4 platform, please pass them my way
Depending on how you’ve got your tool bar set up, there should be an icon that is a cross (‘crosshairs’). This will follow your mouse around the screen and create horizontal and vertical lines that are not permanent. On my screen it is next to the mouse icon. Click on it and away you go.
Note that the Alpari resources refer to Alpari-UK. If you are set up with a U.S. broker, you [I]may[/I] find slight differences between your broker’s MT4 platform and the Alpari MT4 platform. You should ask your U.S. broker whether they have training manuals or videos comparable to the Alpari resources.
Also, in the third link given above, there is a list of short articles on various MT4 subjects. Notice that the list is in reverse date order, with the most recent articles listed first. You might want to start at the bottom of the list, and work your way up.
enjoy.
