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

I sold the fiber at the OTE formed at midnight (1.3780) and rode the wave down from this morning’s LO. Total profit 130 pips. No doubt my biggest gain thus far. Did anyone else catch it? Now it’s NYO and I’m a little unsure where the price is headed, so I’m going to sit out.

Alishijo and Shaunnd,

I have a ton of pages of notes and will have a lot more after I go through all the videos again for the fourth time. I have started trying to create myself a checklist and trying to condense everything to just a few pages, at least as few as I can get it. The reason I am saying this is to see if you guys would care to share your notes and or checklists you are talking about. I’m not the type of person to just copy something someone else does but like to look at others work to get an idea of what I want to do and change it to fit my needs.

Let me know if you care to share,
It would be greatly appreciated.

Thanks,

Just about like yesterday - NYopen:
Daily Flow is up- but London so far has shown it to be a down day:
Learned my lesson yesterday - staying out today :slight_smile:

There is an OTE for longs happening on both E/U G/U - right at NY open - but again against the already determined down day.

Notes to self: 1HR and 4HR Flow have turned down (and so possibly daily will turn down as well, and retrace a bit)

Hello guys!
I took a trade today,the last one of this week.
We all saw that bearish divergence between Friday and yesterday Monday highs
Fiber did a higher high,cable failed!



This morning I put a fib between yesterday high and low on both pairs.
I found an OTE on Cable.
Sold at 1.5820,institutional level,near ADR high,sell zone…took profit at 1.5705,near ADR low,near institutional level 1.5700,3 weeks ago high!
+115 pips…risk 0.5%,reward 1.5%,1/3 ratio!
I`m done with this week,only watch the thread and the market.
GLGT! :slight_smile:

Dunc,

This book that Clint posted last week is an excellent place for you to start. Chapter 5 details everything you need to know in a very clear manner.

Enjoy!

The Perfect ICT Trade! Great Job, mate, very well done!

I tried to post my main checklist some weeks back when people were detailing theirs, but the post was always rejected due to size. Basically my main sheets detail platform set-up (I have an array of different things noted on different TFs that I like to start the day with, but sometimes the original set-up gets distorted as I use the tools. This allows me to reset at the end of the trading day), routine/confluence factors to consider (which I am referring to less and less as I learn to flick from one tool to another instinctively), COT checklist that details all of the possible confluences as outlined by Larry Williams (handwritten - old skool!), Asian session notes (screen shots of ICT diagrams with handwritten bullet points surrounding them), London Open notes (screen shot of the market profile he shared with handwritten bullet points surrounding them), New York Open notes (general bullet points), London Close notes (screen shot from a perfect trade I took with the main observations I have gathered from my trading), Handwritten bullet points on Open Interest ‘plays’ as outlined by ICT and Larry Williams, Seasonal tendencies screen shot, Japanese candlestick cheat sheet that combines ICT patterns and other common reversal patterns…think that is about it.

As for the contents of my routine/confluence factors, well it is all the usual stuff that has been detailed throughout the thread - range projection, market structure, market flow, S&R, numbers, Fib, Pivots (monthly, weekly, daily), candlesticks, SMT, Traders Trinity, trade journal.

Hope that helps.

Thanks Ali (and Clint). Just what I was looking for.

Yep I’ve had a few posts go missing lately. One was addressing a point Akea made a few weeks ago. I started my live account with 5k with the idea of adding another 5k when I hit 25% profit. Well I’ve changed my mind lol.

My first few weeks of live trading were quite stressful and as I’ve settled down somewhat and have a profit buffer I think it would be a mistake to add to my equity. The jump in position size and relative reduction in profit buffer would upset the apple cart so I’m going to stick to my current equity deposit.

GLGT

Lol!

I also think that the market has been less predictable than usual for some weeks now, since August really - it has thrown up some great opportunities, but has also been surprisingly choppy. So while I completely get your not wanting to add equity (quite apart from anything else, one should stick to rules and you decided to reseed your account once you hit 25% on your initial deposit, so that is obviously what you should do) I hope that you are not taking this as a sign that you are not doing a good job.

So keep trading mechanically and it should come good.

My profitability is down compared to normal, and I don’t think that I have suddenly become a worse trader. Well, I hope not…!

ST

I’ve been trading a 5K account for 6 months now and it feels comfortable. I am planning to allocate more than this when I go FT, so stay tuned to see a man with egg on his face scrambling around trying to pick up apples!

Alishijo,

Your checklist pretty much sounds like some of mine. I have screenshots of important market details that ICT points out and then below the screenshots I type out bullet points of information he talks about. For all the videos I actually typed out everything in the slides plus went through them pausing and rewinding a million times to write down word for word what ICT actually says. Call me pathedic for doing this and spending so much time writing down word for word what he says, but I think having it there for me to read instead of having someone say it in a video helps me learn this stuff better. The only hard part of this, is trying to go back through everything and condesing it into something I can read everyday before I start trading.

I will get there, just taking longer then I ever thought it would. I am not going to give up trying to perfect this style of trading, I will get it or I will die trying.

Thanks,

Every bit of that information is important. Just think how much time it would have taken to learn all of that without the input from ICT! I haven’t gone as far as to write down the videos word for word, but I do carry around small index cards with a key point on each page. Things like ‘Key support and resistance nullifies market flow’, ‘When you get a wild Asian range, this is a precursor to a wild London session’, ‘Never place a stop loss 5-10 pips before the round figure’ etc. I look at them over breakfast, while I am waiting for my kid to get out of school, any point of the day when I have a few minutes to spare. It is amazing how these things stick in your brain, and then come back to you right when you need them.

I missed LO and NYO today due to work commitments, and so I took the LC set-up. Got stopped out for 20 pips but found good entries to scalp back to BE and then make a small profit. When price came back up through 5650 and retested support on M5, I got in for a 15 pip gain. After it shot through 5680 and continued up I was a bit miffed that I had sold out at what I thought was going to be resistance. Not happy with leaving the day at a loss, and seeing price reach for London morning session low and GMT S1 right on the figure, I sold straight into the round number. With another of ICT’s quotes lodged in my head (‘10 pip scalp screams novice’), I sold out for an 11 pip profit!! Wish I had been around for the other sessions, but just glad to have turned around a losing day.

Regards

Hey everybody,

I decided to stop trading LO as I get problems managing my trades during working hours and I didn’t find good LO - LC trades in the past weeks (today could have been one with a very very very good setup but I didn’t catch it :/) I’m focusing on LC, NYC and the Asiansession now. These are the ones where I’ve got my best Winratio, ofcourse with less pips, but that doesn’t matter.

I don’t use the normal LC setup only, but I only take trades that are trading through or bouncing of an SR level. Here’s the example of today.

Uploaded with ImageShack.us

EDIT: Forgot the Fibs :confused: But I think you’re able to see what I was looking at :slight_smile:

Just my two cents worth- and this is sort of out of the blue, but if it helps, I recommend it - - ICT has/is giving SOOO Much info. . . I’ve seen and done this before - trying to apply all that you “know” may indeed result in a very mixed bag of results. . it is now my opinion, and my strategy, to NAIL just one thing.
Fortunately for me I just have 1 ‘good’ time to attempt to trade on a consistent basis - the NY open. I simply plan on trading ONLY at this time - with a focus on entry points/techniques/ and understanding what happens during this time. Once that is nailed, then maybe move on to another?

Thank you ,sir! :41:

Hey guys,

I’m having trouble finding a way to view the candle chart of the USDX. I have IBFX and Alpari US and the best I can get is a kind of line graph indicator on the bottom of another chart. Is there a way to view the USDX as its own chart? I think I’ve seen people post pics of something like this…Thanks.

Matty

here is a good place for online charts: US Dollar Index

Thanks, but I’m hoping for a way to pull a chart like this up on MT4 so I can manipulate the chart, draw fibs, etc. Thanks!

Anyone want to chat over some charts? I will be opening a live session for those interested in joining in 90 minutes.

I am interested. Will you supply a link or will this be taking place in the Babypips chat? Not sure how much I’d be able to contribute since I’ve been away from trading the past week, but always looking to learn. Thanks.