Closing remaining position all 30%… Cable stealing the thunder. 
Happy I took 70% off and why we do it… You never know.
Superb, Michael. Shorting at the high and riding the lightning. WTG.
I’m eying this OTE region for a potential Cable short opportunity at LC. Hoping time and price will come together. I have a pending short order in OTE area, but will cancel it if price breaches the swing low of my fib prior to trading up to the OTE area.
Reasons:
-R2
-Counter-trend
-Crossed ADR
-Resistance level
Tick tock…
Edit: I got my order filled at 1.5709, SL rests at 1.5735
Edit#2: Manually closed my trade at 1.5699 for a 10 pip profit. Price wasn’t really going anywhere, stuck in a range, even after 18:00 GMT.
So I’ve been trying to get up in the early morning to trade LO, at least trying to get my body use to getting up at that time…
I woke up at 2am and turned on the laptop and laid down with it in front of me. I pulled out my LO templates and was waiting for the setup. I had my fib pulled and didn’t enter my order at the time because I was waiting for the low to be made before I completed the fib.
I woke up at 6am with this wonderful setup in front of me and no trade…I thought it was a nightmare, pinched myself and found out it was for real…
Moral of the story is I need to get my body use to waking up early and maybe grab myself a cup of coffee and not lay down in front of the laptop anymore…
Will get it next time…
Hey Sladha, I’m watching the same price level, and have a pending entry sitting at 1.5705. Now, I’m sitting here at the computer and I watch as price goes up to 1.5703 and I’m feeling a bunch of emotions coming up inside of me. I’m thinking, I should just sell by market and take the trade right now. What if price turns around and goes against me and I miss out on the drop because I was waiting for 2 stinkin pips. But the other side of me is saying, NO, just wait for your fill, you gotta develop patience and discipline. You can’t be moving your entry (or stops) around all the time cause of emotions. So even though its KILLING ME inside, I just let it sit, and currently price has dropped about 10 pips. Hopefully it has one more bounce up…
I’m wondering though, is this thought process correct? Am I really benefiting myself long term by missing this trade? Or would you guys just have sold it at 1.5703? Part of me thinks its stupid of me to just pass up pips for the sake of letting price hit my pending sell order…but I could’ve just as easily put my pending sell right at the 61% at 1.5701 and have already been filled. Thoughts???
Matty
3rd Day of ForeXmas - Exploring The Asian Range : Formatting Video
4th Day of ForeXmas - Market Profiles : Formatting Video
5th Day of ForeXmas - The Judas Swing : Formatting Video
6th Day of ForeXmas - How To Trade The Key Market Swing Points : Formatting Video
ICT, may I ask why you do this to me…At least don’t show us what is coming up next until the video is done formatting…You are killing me here…
I can see you know doing a little dance, enjoying the torcher you are causing me…:59:
Can’t wait for these new videos…ICT you are the best at teach patience…You gotta love it…
ICT, I am happy to say I am starting to see everything coming together…before I was just going to wait for Feb. 2012 to start trading since you were going to do the analysis part of it, but now I’m starting to get the grasp of this and will be starting as soon as I can stay awake through the LO…lol
Hello Everyone, may I join in?
I would like to express my gratitude for ICT’s work here. Thank you so much! And I hope you will not leave us once you dropped off your christmas gift to us;)
Ive been watching the basic videos over and over again, and while I think I understand most of it, I found the ICT pro traders club videos extremely helpful to review what has been seen in the basic videos. It will take lots of time before I will hopefully be able to use those tools to achieve my own goals.
Something I simply don’t get, even after re-watching the video over and over again are the topics of: COT, Yields, Williams%R,Futures contracts, market vain sentiments and such… so far,I’ve managed to read through the first 55 pages of this thread (out of currently 529) in the hopes to clear some things up for me… but if someone has some sources or links, or any other way to “dumb down” these mentioned topics for me, I would greatly appreciate it.
To understand these “missing pieces” would probably give me a nice edge in my trading approaches, and I guess thats what its all about;)
I do apologize to be asking such newbie questions that have been covered more than 1 year ago, very early on this thread. It just didn’t make it far enough into my scull yet;)
With or without a reply, I am truly thankful to have access to this thread as the information (although still a bit overwhelming for me) is simply priceless!
sincerely Fredy
I was watching PTC videos over again and noticed ICT using a Monthly_Weekly_Daily_High_Low indicator for MT4, can anyone post this up for me…If not I will do a little googling when I get home from work…
Alright, so I had to duct tape my hands to my chair in order to sit on them, but price did bounce back up and trigger my entry. Looking for 30 pips at 1.5675…probably gonna take 100% off there as that’s just shy of the 38% retracement of the daily range and 1800 gmt is fast approaching. Hopefully I learned a touch of patience and discipline today, but there’s still a big part of me that wonders if I handled this correctly. I know I woulda been kicking myself if I never got in this move…(assuming price does go down). Same thing for TP points, though. If I have a pending order to close a trade and I happen to be at the screen when price is 1 or 2 pips away, I’m very tempted to manually close it. I’ve seen it get that close and then bounce the other way to take out my stop loss 20-30 pips away. I’m sure you’ve all had similar scenarios. How do you guys handle yourselves in these situations? Michael, I’d love to hear your thoughts…BTW, are there any Christmas presents involving discipline/emotions/mental approach to forex?
Matty
While I do think ICT needs a faster video formatter…
What would you rather do? Make 10K (at least) on a picture pefect EU sell day template, or format videos?
We need to hope perfect trading days don’t form so ICT isn’t distracted. Yesterday, he tweeted he took a trade and got out at B/E because is was going against him. He said he was sitting on his hands. I think ICT should put his hands to use on formatting videos.
Look at it this way, Price might get up to the NY session high and if you had got in early, lets say at 5695, you don’t clear that high by 10 pips and you might get taken out… you also have more profit potential and that should make up for the occasional entry that does get missed. The emotions are normal, I too was like that. Just ask yourself whats the worst that can happen? You loose 1% off your account? Well that won’t bankrupt you and you will still be alive after the trade. Try not get caught up in the moment 
So are you saying that if you set a pending order, you just ‘set it and forget it’ no matter what? I mean, If I set it right on the 61%, I’m not gonna buy/sell a move below that level, but if I’ve set an order near the top, or that the very top of the OTE range, and I see price stalling ABOVE the 61%, I’m so tempted to manually enter. I never actually believed the mental part of trading would be the hardest part, but now I’m seeing that its sooooooooo true!
Matty
Oh, and its not the 1% that scares me, its the missing out on 3-5% that scares me. Knowing I determined the correct area where price would turn, but completely missing out on the move.
you obviously made the right call on your entry. I had a pending order set for 1.5703, just above the 62% mark. with the trade going against us so far, you are in better shape than I am! Hopefully this trde will turn around in our favor, but I don’t have a good feeling right now. Since the EU & GU had such large divergences and EU is shaping up to be a Z day, I have 50% set to come off at 1.56705, and will let the rest run, if my stops aren’t hit first of course.
Hey Matty, I know what you mean by duct taping your hands. I got my fill for a short at 1.5709 and luckily I wasn’t looking at the chart, otherwise I would have experienced a rollercoaster of emotions and entered prematurely. I’m also looking to close 100% at 30 pips (in my case, it would be at 1.5679). My stop loss is at 1.5735 (26 pips from entry).
he he - I was at work - checked the charts for a LC set up and saw this exact same thing - went home for lunch purposely to get in - - I am right with you on this trade -
Sort of feeling like I am overtrading - two in one day eeeek. But both were per criteria - this I am happy about.
Also testing out the partial close ea provided by interbank I think I will like this thing once I get used to it.
hey sladha,
I just turned on my computer and saw your chart. I thought it might be a good idea and your reasons look good to me too.
Had a pending order sell limit @ 1.5706. Now i’m very curious what GU is doing.
I’ve had a lot of bad luck the last days…whenever i saw a good oportunity (at least what i thought was a good oportunity) and my pending order got triggered, price went against me and i got stopped out…perhaps it’s a curse…:15:…so, now i feel like stuck in the middle of nowhere, not able to see the right things.
hopefully this trade can donate some pips to my demo account, even if it’s not my idea…
I don’t always set and forget, but most of the time I will. LC trades I usually ask for the 62% Fib and round up to the nearest whole number. If R1 or R2 is around I will also gravitate towards it. In this case 5700-5715 so maybe 5710? No one wants to be in the red for long its nice to see a trade go into profit quickly but I have gotten comfortable with trades going against me.
I agree emotions are the hardest to overcome. I read a quote by Larry Williams somewhere, it went something along the lines of the trades you doubt the most are often among the best trades.
And Murphy’s law, when you stress about a trade a trade it often stay’s in the red for longer:28:
Okay, so I’m not the only unstable person here :5:
the last few weeks has been tough for the LC. The set ups seem to be coming at different times, instead of running on a tight schedule. I’m hoping it goes back to being the drive up ATM machine very soon. It’s just another quirk I jot down in my notes to see if it’s like this every year at this time. This action might be the smart money creating liquidity for a sizeable move, or maybe it’s just me trying to rationalize and hoping I made a good entry
My initial response was discarded by Babypips, so here’s another attempt. Regarding the COT, Michael’s recent video found here: Trade Forex Like The Insiders - YouTube may add some clarity. It’s the first installment of the 25 Days of Christmas.
What, in particular, are you having difficulty with when it comes to some of these other concepts you highlighted above?
Although not necessary, I would recommend going through the thread in its entirety as there are valuable bits of information scattered throughout. It will help you gain a better understanding of the various concepts taught. Good luck.