Well, after my scalp I really wasn’t looking for any other trades for the week. I don’t really like trading Fridays but after GU dropped through support and broke the Daily, 4hr, and 1hr fractals I started looking for potential shorts but there wasn’t enough retracement to hit my pending orders. Just recently there looks to be a scalp trade (long) unfolding but as of yet you would have only gotten about 1:1 RR on it by taking profit at the previous days low. Of course it could move higher though…
Looking back on the trades I took this week, I’m clearly guilty of using ICT’s tools as an “add-on” to my own ideas, rather than as the core. My brain is wired for puzzle solving, to an almost obsessive degree, and I think when I started getting into this trading gig, the huge driver for me was to “figure out” the puzzle. So over the years I’ve collected all these theories and ICT is right, trying to mesh his tools with those ideas is leading to frustration.
So before I make the mistake of blowing off this amazing learning opportunity I’m going to “purge” my mind of all the crap I’ve learned (or thought I learned more like it). I want to start next week as if it was my first week trading, and all I’ve got to work with are ICT’s core trading tools (pivots, fibs, market flow/bias from higher TF’s). Going to keep my 50pip objective that I had this last week as I think that was a really positive framework for practicing using these tools.
So rather than waste any more money chasing that goal of “cracking the code”, I think I’ll have some respect for what’s being offered to me here (for free no less) and make a solid effort to use the tools as they were meant to be used.
[B]To ICT:[/B] I feel bad that my screen name is so akward to say (I really had no idea it’d ever need to be said out loud lol) so I’ll just introduce myself proper. My name is Aaron, I’m 23 years old, and despite some good runs, I’m Net Negative on my Forex pursuit and wholly fed-up with consistency consistently eluding me!
Ha, we both failed hard on the same trade. You and I aren’t so different, sir. My name is Ian and I’m 22. I actually live right next door to you in not so sunny BC. I usually come out to Alberta every year for Stampede!
Looking back at that recent long on the cable, I think we entered it too soon. If it’s going to reverse it’s more likely to happen now that it has made a push past it on the daily, but then closed pretty much right on it. Not only has it proven to be a strong resistance in the past, but it’s also a whole number (1.6000). I’m not going to try to catch the reversal before it happens again, but I haven’t given up on the trade yet.
Oh, King Michael, please bless us with your wisdom! 
Hey I love BC, thoroughly enjoyed every trip I’ve taken there (all road trips on those winding highways of yours).
I think our trade had some good support, but looking back, the flows weren’t really favouring longs. I think we had a 50/50 on that one and bit the bullet. I’m trading a small account now, and only took a 1% hit on that trade, so not the end of the world really. I’m frustrated with some trades I took earlier in the week, especially a long trade at exactly the price ICT was shorting, D’OH!
The Stampede gets very boring after going your whole life! But this year will be great! I’ll finally be legal to do all the fun things there!
I personally have a bearish bias for the Cable, the Dollar seems to be gaining strength, but the significant support at the 1.6000 level is nearby which may cause it to bounce higher. I was just wondering what everybody else’s opinions are for the opening of the Cable next week?
Akeakamai, I’m going to assume you live in my time zone, so I thought I’d get some personal opinions. Since you’re trading with ICT’s methods, do you trade the London session? So that means you would have to be up all night? Or do you just place pending orders and go to bed? Thanks.
Regards,
Clark.
Yeah, the market was definitely headed down. I was thinking that while I was in the trade. I’d like to know what Michael has to say about the whole thing.
Well ICT only recently laid out his specific trading schedule, and it involved a lot of sleeping haha. I like his idea of “taking a nap” before starting your analysis from 11:30 PM-2:00 AM (our time). I think he said he’ll take a trade and if it goes in his favour he’ll go to sleep (didn’t say when he wakes up), and if it goes for his stop, he’ll try one more time then go to bed again. Not sure if he sets pending orders, but that’s what I’d have to do, then I’d have some time for minor adjustments at 7:00AM’ish.
ICT has full time available and I don’t really, but I don’t really expect to capture the moves as efficiently as him, but was kind of hoping that pending orders would still get me some net gains overall… sorry I can’t say more, this is still a work in progress for me 
edit:
but let me say that I can run just fine on 5 hours of sleep a night, and if I threw a nap in there like ICT does, I’d be getting more sleep than I am now. I think this might be up to your personal sleep habits and other commitments you might have (ie work)
Also I should mention that the tools, especially the projections, can be freakishly accurate, so I would have a fair amount of confidence in setting a resting order (or 2) and leaving it be. My worry is that I wouldn’t be able to trail stops effectively, as it seems the best way to do it is based on PA breaking through levels, and there’s no way to know if that’s going to happen before it does.
Here’s what I mean, sorry it’s so small. Look at the confluence between S1 and 127% extension, then again at MS2(red line) and the 161.8% extension. You could have drawn these levels over an hour before london even opened and long before the optimal trade entry to go short had even played out. (and that’s not even including the 1.6000 psychological level and 1.5980 institutional level)
Why didn’t you shuffle your order(s) from long to short because the market was “definitely” headed down in your opinion?
Because the whole point of the trade was that the market has a high probability of reversing in the area it’s in now, and probably still does, it’s just my entry that was off. The mistake I made was that I entered too soon, like I was worried it wasn’t going to actually touch the point where it had to reverse (this still may never happen, but you can kind of imagine where that point is by looking at the daily). It often leaves a lot of wick below the resistance before it slingshots in the other direction, I think.
A large UK pharmaceutical went Bid and caused the Thu burst from 1.6020 level [institutional level) up to 1.61sisch after BOE official bank rate release.
Cable couldn’t hold 1.6100 level and reversed in line with Dollar index breaking major resistance 78.35 overnight (Thu/Fri) coming into London session.
You got “spooked” 
by that Bid and thought Cable would reverse. Instead 1.6055/50 stops got triggered. Cable got pressured in EURGBP and the selling accelerated quickly as stops through 1.6010 (Thu lo) were tripped.
That’s why I was asking about order shuffling.
The mistake I made was that I entered too soon, like I was worried it wasn’t going to actually touch the point where it had to reverse (this still may never happen, but you can kind of imagine where that point is by looking at the daily). It often leaves a lot of wick below the resistance before it slingshots in the other direction, I think.
You entered in no-man’s and hoping for a reversal but the evidence wasn’t there with the LH and LL on 1h bars coming out of Tokyo session. That were the footprints for going short.
You’re right, I did put a lot of weight into the bid action from yesterday’s post-BOE announcement. I would’ve gone short but I went to bed, but what ICT does, in taking 2 trades if the first one fails , likely could’ve got me into that move. I mean in hindsight (20/20 of course) the bounce off the central pivot had short written all over it. Not sure how I would’ve reacted live, but I’m glad I can see ICT’s strategy working, so it’ll be easier to stay disciplined when I see a similar situation in the future.
Well I had a great entry, placed the order 3 hours before this picture was taken, shame about the rest of the trade.
Flow was up, ms1 pivot, was in the buy zone, cluster of support. So I placed the order at 79% fib rather than the sweet spot because of all those elements. took part of the trade off before CPP and moved to break even, we all know what happened after that but sticking to the ICT basics worked out just fine 
$5 says ICT scalped the central pivot bounce and bagged a nice wad of friday pips. at least i’ll know I was beaten by the best
New PTC video posted… Above and more importantly than being a Forex Trader… I am a Father… as you will no doubt hear in the background… my youngest son doing his best to avoid a bath… and his Mother lol
GLGT - Enjoy 
Thanks again ICT for the new video! I will be taking a look at it soon!
I will be opening a live account with just a small amount in the near future and I will be trying to trade based on your methods. I’m looking forward to the learning experience. =) I feel live gives me more experience than demo so a small amount, if I lose won’t be a big deal.
Just a quick question for ICT:
When looking at the Dollar Index, Bond Yields, etc, these long-term geared analysis, are you looking at these daily before trading sessions or at the beginning of each trading week?
Regards,
Clark.
awesome! loading it up now
My short is @ 1.6080 targeting 1.5920. Entry is a tad above the .618 level from previous high and low, near the ADR high, Friday’s pivot, R1 of today with the .786 above as well as 1.6100. My target is slightly above the 1.27 extension.
I feel like I’m not listening to the Fractal rule though as price is currently bullish being over the previous fractal on the 1hr however if triggered the daily and 4hr will still be neutral.
as of 10pm EST, I’ve got daily market flow still long, the 4H as short, and the 1H as long. and ICT said he’d trade against daily and 1H if it was in agreement with 4H so I think your market flow gets a green light, maybe not the best scenario but good enough from what I understand
We’ve gotta be looking at different charts, or maybe we’re determining market flow differently? Mine currently reads daily and 4hr neutral, 1hr bullish
oh, I guess I don’t really have a definition for neutral, I just thought it was long when the fractals were making higher highs and higher lows. so far it hasn’t breached that fractal low at ~1.5820