Agreed : )
So Iâve missed it? Been through the last posts trying to find the first day? checked the first post - not there - is it only available on twitter?
sorry to be a bother.
It is definitely on the first page in the first post of ICTâs at the bottom. Enjoy
I found the following information interestingâŚ
I thought by compound your balance every month you would make a lot more per year at the beginning then this, expecially for the first year. I guess I just didnât realize how slow this might be for the first and maybe even the second year until after I wrote out all the figures in excel.
I am in no way complaining, the findings just shocked me at first. So if anyone thinks they will be able to quit their day job after the first year, you might want to rethink that possibilityâŚ
After 1st Year - Around $7,000
After 2nd Year - Around $65,000
After 3rd Year - Around $500,000
So the last 4 months is where you make the most at another $500,000.
[U][/U][I][/I][B]Compound Interest of 19% per Month for 40 Months[/B]
[I][/I][B](without taking any money out including taxes)[/B]
Starting Balance: [B]$1000[/B]
$1,190.00 - 1st Month
$1,416.10 - 2nd Month
$1,685.16 - 3rd Month
$2,005.34 - 4th Month
$2,386.35 - 5th Month
$2,839.76 - 6th Month
$3,379.32 - 7th Month
$4,021.39 - 8th Month
$4,785.45 - 9th Month
$5,694.68 - 10th Month
$6,776.67 - 11th Month
[B]$8,064.24 - 12th Month[/B]
$9,596.45 - 13th Month
$11,419.77 - 14th Month
$13,589.53 - 15th Month
$16,171.54 - 16th Month
$19,244.13 - 17th Month
$22,900.52 - 18th Month
$27,251.62 - 19th Month
$32,429.42 - 20th Month
$38,591.01 - 21st Month
$45,923.31 - 22nd Month
$54,648.73 - 23rd Month
[B]$65,031.99 - 24th Month[/B]
$77,388.07 - 25th Month
$92,091.81 - 26th Month
$109,589.25 - 27th Month
$130,411.21 - 28th Month
$155,189.34 - 29th Month
$184,675.31 - 30th Month
$219,763.62 - 31st Month
$261,518.71 - 32nd Month
$311,207.26 - 33rd Month
$370,336.64 - 34th Month
$440,700.61 - 35th Month
[B]$524,433.72 - 36th Month[/B]
$624,076.13 - 37th Month
$742,650.59 - 38th Month
$883,754.21 - 39th Month
$1,051,667.51 - 40th Month
Iâll respond to this tomorrowâŚbut I had a short trade setup that I evaluated prior to the NYO that would have hit this short. Iâll post my screen shots and thoughts laterâŚtoo busy tonight with the family to do it.
YeahâŚyou double your money every 4 months at that return rate. So that last half million is made in the last 4 months.
Pretty staggeringâŚItâs like going from a tourtoise to an ultra high speed hare in the middle there. Even though percentage wise itâs the same.
Spongebobâs Santaâs Coming Tonight Tonight - YouTube
This was me last nightâŚ
But Santa always delivers and never disappoints.
I would aboslutely love to see someone commit to a 40-month compounding scheme like this and share the month-to-month results on this thread (or the new thread in 2012).
Iâm not scared of doing it myself⌠Iâm just having some problems stringing 2 months of profitable trading together, hahaha.
But if a person, or small group of people want to set a start date, and share our 40 month journey (win or lose) with the thread(s), I would definitely be in for thatâŚ
Right now itâs all theory!
FascinatingâŚthat would be awesome (assuming Iâm profitable).
This is where I got led down the wrong pathâŚthis article is drawing a distinction between futures and spot markets. I do see the qualifier âmostâ hereâŚprobably more due to most retail spot traders being unprofitable when 988 is preferable.
âMost spot traders are taxed according to IRC 988 contracts. These contracts are for foreign exchange transactions settled within two days, making them open to ordinary gains and losses as reported to the IRS. If you trade spot forex you will likely automatically be grouped in this category.â
Read more: Forex Taxation Basics
I agree it is all just theory and itâs hard to even imagine this happening. I guess itâs just a goal and something to strive for.
I am starting a blog starting next year to try this challenge out. I am going to dedicate it to ICT because without him I wouldnât be able to achieve it let alone make any money at all. I am going to document every trade I take and have something like a progress meter showing how far I am a long on the challenge and if I am on track or not.
One thing that makes me think this is very possible is ICT made 300% in 3 months which is no brainer 100% every month. One thing he said in a video was that he made the 100% per month without even hardly trying and didnât even take very many trades at all, basically just took it easy. What he said really made me think that 20% should be very possible next year with him helping us do the technicals.
I guess we all have to have dreams and if we didnât life would be boringâŚ
So yes AK I am up for the challenge even if I do blow up the account it will be an interesting challenge and something like a competition to push me even harder to try and study as much as I can and help me get up every night at 1am for the LO trades even tho I have to get up at 5am for workâŚIt will be a big motivator.
I took a short on the Fiber todayâŚ
I know we aint supposed to trade NFP, but at least I cut way back on my risk from my standard trade.
What I was seeing:
- Trading up to longterm S/R at 1.3540
- TT sell zone
- PP sell zone
- Was just watching the market at the time and saw a very quick move up in price, and I recalled ICT saying something akin to âthey donât move it up real fast like that without a reason.â The reason I concluded was to blow the stops above Wednesdayâs high before a big move down (which would sync with my overall bearish bias for the euro).
- Additionally, I knew if price ran up above Wedâs high it would create a bearish divergence on the SMT
- We were also at the 50% fib of the Nov high to low
- OTE from swing high on Nov 18th
- Finally, I donât even know what it is yet, but it kinda looked similar to the riptide reversal mentioned in one of the recent videos : )
Iâm slapping myself on the wrist for trading NFP, but it did turn out okay and I gained some more experience ; )
Entered at 1.3535 with a stop at 1.3570 above nov 18thâs high. Took 1/2 off at 52 pips, 1/4 at 110, and the last 1/4 at 160. TPs were determined by probably resistance levels (see next post).
Just nice to see how powerful the SMT isâŚ
And to observe price bouncing off of previous S/R and fib levelsâŚ
Really nice trade, I was watching some of the action this morning on and off and I come back to the screen and see a big move, and thought that woulda been a nice catch.
Already started a thread in preparation for next year lol, I will be documenting the journey.
Has anyone found any free sites that offer something close to what ICTâs COT data looks like. Iâve tried a couple of sites and havenât really found anything that I like, or maybe Iâm not using their site correctly? I just canât see me paying $40 bucks a month on COT data right off the bat. I intend to if I start making some decent money at thisâŚ
P.S. maybe ICT can copy all of use in an e-mail for his COT reports⌠
wink wink
I agree⌠Everything start with a dream. From that dream you build interest and passion. A recipe to success !!
Trade Journal. Can live without 'it. I write my analysis, market condition, why I toked the trade and how I felt. I think that the understanding of the psychological aspect in trading is really important.
I would even go a step further. Having a dream is nice. I (personally) think that it is time to act. I will not be easy. Donât get me wrong! But I think with a good mindset we have the tool to succeed.
I totaly agree. If I blow and account (small caps) I donât care as long as I learn something out of it else then losing. So far, every trade that I lost, I needed to find the reason why I lost 'it. I keep a lesson learned journal. Before I go trading again, I go trough this journal just to remind me the thing that when wrong so I make sure not to do again this mistake.
Ok my 50 cent. Love the post.
Cheers,
Awesome. Have a great night.
This is my first post in this thread, but i follow seriously right from the beginning
Great and good work by ICT
Happy to see xmas videos
ICT made a change in my live trading
God bless you
with regards
Immanuel
[QUOTE=matty44;298879]Just nice to see how powerful the SMT isâŚ
Awesome trade and shame on me for not applying the tenet that significant support/resistance always trumps market flow. Just another lesson.
On a side note, I left work yesterday and left my ICT notebook along with my wallet at my desk. It is strange that I was more worried about something happening to my notebook than my wallet ?! I think I have a problem.:):)
very nice video ICT. So applying this today, cable made a recent 12 month extreme net long position (commercials) in beginning of october and subsequently price made a LTL at the same time. Since then net long position retraced a little which coincided with price retracement Now net long position has continued to go up since 2nd week of november so this gave us a chance to get in âsyncâ with the commercials around the 25th of nov where price made that ITL? how does this sound