OTE in an OTE.
I didn’t take a pic at the time because I gave this trade a snow ball’s chance and only demo’d it.
Oh yea of little faith…
Daily OTE
15 min
Wally
Nice Wally!
I was silly today. I looked at the volatility around the LO today and for some reason didn’t use the low to draw the fib.
I ended up shorting and losing out, but after about 11 AM I looked again and saw that setup.
I don’t know why I missed it this morning, but I’m glad someone saw it, haha
Don’t beat yourself up about it, momentum was on the short side. I wanted to try a OTE in an OTE trade because of the recent posts that others have been showing and was surprised to see it reach another 50+ pips above my already optimistic final target.
I guess the moral of the story is: when the tools line up, pull the trigger and just manage the trade and leave the personal bias at the door.
Wally
Hey Wally,
Wish I’d been at the charts for that one…there was also a nice confluence of Pivots and Institutional numbers on all TFs:
Monthly S1 - 1.5802 (OTE entry off Daily S1 at 1.5810)
Weekly MS3 - 1.5786 (Initial bounce off Daily MS2 at 1.5780)
Regards
5min Fiber
OTE within OTE within OTE, I had to take it right? 
Saw the same thing AK, but didn’t trade it lol
I’ve been taking too many non-OTE trades recently, so this was a disciplinary exercise as much as anything. I’d be happy to lose on this trade, compared to some of the crap trades I took this week : /
New PTC on first page of this thread…
[B]GLGT [/B]:57:
Fantastic PTC video, Michael! Packed with loads of great info about Asian session, New York session, and position trading. The vacation must be treating you well because you sounded very relaxed and happy at the Webinar. Many thanks.
Can we go over scalping as a next tip? Like what is it that makes a good scalp and how to go at from scratch?
Anyone catch the OTE on the cable right before Bernanke’s speech today? I was in a short and didn’t act fast enough to get out in time and switch to a long. I should have gotten out a little earlier having figured Bernanke would put QE3 back on the table.
“Lost” on that one myself (still demo trading)… though even the loss was a partial victory.
Reason I say so, is analysis of the setup pretty much matched Pipcrawler’s Blog setup but I’d arrived at the reasoning independently. That’s a good sign, perhaps.
The ultimate battle could be the internal one… psychological. I suspect that the forex learning process is alternately joyful or painful depending upon what the market does. With the key being brutally clear self introspection. As for myself I hate being wrong, I hate waiting days for the next setup. But I’m as tenacious as a rat terrier. This is just another expertise to be learned.
It will be conquered, and once I’ve got my head thoroughly around it I’ll put some real money behind it. A few weeks, a few years, whatever it takes I don’t care. And when I get there I’ll get wild with my newfound gains… I might even go to Starbucks and get one of those coffee drinks with the fancy stuff in it, and an overpriced pastry.
Possible daily OTE short setting up on EU?
Possibly on the cable as well.
Interested to see how it pans out, as today’s speech would have been bearish for the dollar, rather than bullish.
Ok, stop is at BE I can post about the trade now. Long EU, OTE within OTE, actually two possible entries. Got +30 and stop at BE, going to bed letting the rest ride.
Hi fellas, been a LONG time follower and finally decided its time to join in on the fun and action and hopefully have some great conversations , and learn a new trick or two with my fellow traders!
Finally got myself a winner today!
Saw an OTE just before Bernanke’s semi-annual monetary policy report on the cable for a short.
Didn’t take profit at the 161.8 extension as I should have, so only got a net +22 pips, but I’m happy to walk away with a profit today.
NYO Fiber trade this morning. Finally a winner. + 52 pips. Any comments/critique welcome.
Reasons to enter:
- NYO kill zone
- Price in pivot sell zone
- OTE on higher time frames and M5
- Daily high already made before NYO (in my opinion). Time will tell.
Trade Details:
- Short at 9:23 am EST at 1.4232
- First profit taken at 1.4205 half the position
- Final profit taken at 1.4180
-
SL was at 1.4265 -
Risk to Reward Ratio : 33/52 = o.64
Thank you to our GURU ICT 
Still need to learn how to manage a trade while in.
Regards,
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Hello everyone,
It’s a great community you have here and it’s an honor to be a part of it. ICT thank you so much for sharing your knowledge and wisdom and devoting your own time so people like me can have a chance in becoming a profitable forex trader.
I have only recently found you guys, by chance, I’m up to video 18/2/11. Today was my first day trading live with what I have learnt so far. I made 2 trades and both were profitable, 23 pips and 34 pips. Early days I know but it’s an encouraging start and I’m still pinching myself that I have access to all this fantastic FREE material.
ICT your generosity is rare and very much appreciated by me.
2 charts of one of my trades today.
Also, I found that Chris Lori course is excellent for newbies like me.
Little hint: google in “allstarfx torrent”. First link or so… ~6GB of ‘must know’ content videos… 