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

Hey ICT or any of the seasoned guys here,
You mention in your videos that you do trade the sunday gap looking for a 20 pip move, a hit and run. I was wondering how you determine if a good gap is forming to be able to trade. As one of your more recent videos shows I believe it was on the EURUSD the gap was not filled on that videos day. Also, if you are shooting for 20 pips, what is your normal stop loss and how would you determine this? Would you use the structured 30 pips or scale that down?

Thanks and awesome thread, I am just joining in here but am caught up now finally through all of the videos. Have been interested in FX for about 5 years now, serious about it in the last 5 months and was a ā€œindi bells and whistles guyā€ all the way until I decided to jump ship and do it right this time.

Amazing work you are doing here, paper trading begins this weekend for me and I will jump on with u guys demo this coming Sunday.

Thanks for all of the info ICT,
Zack

Personally I donā€™t trade the Sunday Gap, too unstructured in my opinion.
But I just wanted to say welcome! And Iā€™m glad you managed to catch up. Looking forward to seeing some of your trades and insight.

Regards,
Clark

Thanks for the insight Clark,
I will stay away from it for now :). Maybe ICT can shed some new light on how he trades it in a future video/in a post. I would like to see how you go about it ICT, as you did mention it is usually the only Sunday trade you take.

Hey ICT,
Just watched your July 19th PTC, just wanted to tell you I had a good laugh at your very last answer there. XD Almost makes me want to start a Million Dollar Challenge too. How much are you starting with if you donā€™t mind me asking?

Hahaha, have a good weekend everyone. =)

Clark

Hey guys,

just wanted to thank you all for your effort in here :slight_smile: Iā€™m currently doing my miltiary service so thereā€™s no chance to post, watch or trade any setups :confused: Iā€™m trying to stay in line with the thread and the videos, but itā€™s a bit hard for me as thereā€™s is very less time for me hehe. But your posts definitly help a lot! :smiley: Hopefully I have the chance in one or two weeks to trade the LC session and report about it :slight_smile:

and if I remember right ICT is going to start this challenge with 5.000 USD?

keep on trading :wink:
greetings

<Smug mode ON> You mean like this.

<Smug mode OFF>

The reason for looking for a small short was yesterdays high finishing near itā€™s high and a very large range day begets a small range day.
The cable was techniclly better with a daily OTE and 15m OTE but I thought the fiber had more pip potential.

Wally

this trade was intended to be a quick Asian session scalp for 20-30 pips. Was targeting that area around PDH and MR1. It draaaaaaged on though until LO came on and saved my bacon. I wasnā€™t deluded into thinking it was going to make new highs today, but I was trying to capitalize on Thursdayā€™s bullish momentum. Thanks for watching :41:

Nice trade AK!
Wally, I love that post haha, I was short EU at LO. Wish I wouldā€™ve short GU instead though lol

I know what u mean about draaag AK, after I had marked up Asia and then watched early Europe for awhile I just didnā€™t think Iā€™d find and entry and was going to close up shop when those tweezers showed up which gave u your profit and my entry, very cool.

Wally

Very nice trade wally! I donā€™t know if you use GMT pivots, but if you did, price actually got down to CPP and did a picture perfect bounce off of it.

I like how you T/P just before the level, thereā€™s definitely no need to squeeze every last pip out of a move like that, and on a friday no less.

Check out the reaction to those extension target levels. Itā€™s almost like someone else was taking that trade too :wink:

Haha, like passing the baton! I guess thatā€™s how the banks doit, just keep passing on the winning trades to each otherā€¦those jerks :stuck_out_tongue:

MCAWally, just learned something new from those charts you posted up. Thank you!

I keep flip-floping between GMT and NY pivots, I happened to have left NY on for that trade and it usually doesnā€™t matter as I am more interested in whether itā€™s Buy or Sell zones, usually only 10 or so pips difference in them but that looks even better in GMT with the Asian lows stopping at the mid-mid pivot then up to mr1 then down to CPP, a real pivot play that we havenā€™t seen for a while.
As for the Banks thatā€™s exactly the way I look at things, mark off Asia to see the order book flows then watch for the Europe play for stops and then watch London for the days high or low and take the other stops out, all from proberbly the same bank or banks. Weā€™re onto them. :slight_smile:

Wally

What?.. That Iā€™m an idiot?

Just joking, What did u see?

Wally

@ICT - I guess you do use Elliott Wave because, in the course videos, you mention the principle of alternation, and the optimal entry is a ā€˜1-2 baseā€™. Is that right? Fascinating stuff, Iā€™m just learning about it.

ICT mention an add on that will show the weekly and monthly highs and lows, I have been looking but cant find it , does anyone have a link.

a Z?

The vertical chart makes me nauseous ;-).

Hi
Canā€™t post a link but google ###Daily-Weekly-Monthly Hi-Lo mt4 and you can pick it up from Forex factory forum in the first result of your search

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