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

Hi Jay
Yes this does help, thanks.
I have checked out your thread on the forums, your tongue in cheek attempt at making a gazillion in a few days, or
something like that. I wasn’t aware that you did any mentoring, but from what I have seen you are more than capable.
I will have a look at your stuff from time to time, I personally think that looking at things from another angle only makes one better…eventually. At the beginning it will probably confuse me.
Just curious, have you or anyone here ever read a book called the black swan, because your contrary approach seems in
line with that author’s thinking. Or maybe this should be another thread? Yeah, its too huge a topic anyway.

That is funny, get stopped out of my EUR/USD trade and price falls like a rock…lol

From my stop it went over 40 pips the other direction in the matter of minutes…

Looks like someone wanted price below 1.3300 for some reason…

I have heard of it, and have read the other book by Nassim “fooled by randomness” Actually, what he talks about is different… though there is some slight overlap. He’s talking more about statistically “impossible” events occuring much more frequently than one would expect.

what i’m talking about is part of the typical market cycle… markets are in constant flux from priced at fair value, to over sold, to over bought…etc.

right now, this isn’t statistically “impossible”… it’s just oversold. Nevertheless…you can profit from it just the same by fading the masses :wink:

Jay


:slight_smile:


Looks like I should of used a bigger stop then my 20 pip stop…Now that I look at it 20 pips didn’t get me 10 pips above the high I pulled my fib on. If I would of put it 10 pips above this it would of been close, but think I would of still been in the trade.

Lesson learned…Just nice to see I was actually in the right mindset for this trade and wasn’t completely off.

I am currently short:


Cable?
Me too.
I entered at 1.5580, stop loss 30 pips up…I know, too high, but I wanted it above the 1.5600institutional level

Fiber - short at 1.33825, SL 1.34330, first TP after 35 Pips, next goal 1.32920.


Speaking of clear charts… :smiley:

Looks like the cable is having problems breaking through the support of previous days’ high…Cant believe I didnt spot that
before I entered. we’ll wait and see what happens, its close to London close now.
hopefully they will push it down.

(Ten minutes later)

Support broken.
I took my profit at the R2 level, 24 pips.
Thats enough for me, I cant stomach the big moves. This is more than what i make most days anyway.
Thanks ICT, I still have a lot to learn, but I used the pivots and the Fibs, and the institutional levels (in hindsight).
The only thing I cant get my head around is market flow, even after going through the videos over and over.

Hehe, was already at +24 Pips, but im still in. I trust my read!

COME ON BEARS!!! :54:

Meanwhile I’m sitting in tears watching this cable go down some more after I pulled out :frowning:
But well done Phenex.
This is my first ICT trade. It beats moving average crossovers lol

Well, im trading the fiber… hope the EUR is following the GBP. Big bullish candle incoming… noooo!

Hi Guys, with the USD trading down, shouldn’t we be looking for longs? Also, I have a question about institutional levels. Are these specific levels like 20, 40, 60 etc. or are they just any round number? In other words 10, 20, 30, 40 etc.?? Thanks

Does anyone know if tonight’s class is at 7 or 8?


…and stop to BE.

I have only been trading since April, and have not progressed on to full time trading- hope to do so in 3 years, but the highest probablilty trades are in the kill zones of LO, LC, NYO, and the Asian session. Every now and then you can catch a good trade in NY close as well. No matter where you live, or what time of day you can trade, there should be a session for you to trade. In my short experience, trading outside of the kill zones will bring a higher degree of risk. I have made a few trades outside of the killzones, and they are the trades I usually regret getting into

it’s at 8:00

Is that 8pm EST? so that will be 1am GMT? Are these sessions recorded? I cant stay up that late on a work night.

yes, 8 PM EST. ICT recorded last week’s, so hopefully he will record tonight’s as well

Where can I get the COT reports in the format which ICT uses in his initial videos?