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

[ClarkFX]

Thanks, Shaun. You are absolutely right - I made a mistake when taking the OI reading off the charts. I thought the drop came JULY 13-16, but it was JUNE 13-16.

Still working on your long term trading strategy hey Ali? When are you gonna spill the beans?

[Alishijo]

Still working on your long term trading strategy hey Ali? When are you gonna spill the beans?

Haha! You were there for the major breakthroughs, and those are documented for everybody to see in the thread. I can’t remember the page numbers, but just before I went on holiday at the end of July, and then a real time example with the last October move up. It is everything ICT has put in his videos, plus the hard work of backtesting in order to have the confidence to act on the signals. It would be wrong of me to lay out a detailed COT strategy before I have made 30 successful trades myself! (Read: check back with me in 2016 ;))

[ClarkFX]

Haha! You were there for the major breakthroughs, and those are documented for everybody to see in the thread. I can’t remember the page numbers, but just before I went on holiday at the end of July, and then a real time example with the last October move up. It is everything ICT has put in his videos, plus the hard work of backtesting in order to have the confidence to act on the signals. It would be wrong of me to lay out a detailed COT strategy before I have made 30 successful trades myself! (Read: check back with me in 2016 ;))

Sounds like you’ve got yourself a nice trading system, way to go! I’ve done some work on that myself, we could talk about it sometime, let me know. It’s 4:00am here, off to bed!

Clark

[piptronix]

Hi Matty
That was me, I asked you to post your trades, sorry if it caused you any pressure.
But it does serve to inspire us newbies on the thread, so thanks a lot.
All the best for next week, keep up the good work.

Someone asked me to post updates for my monthly trading, so I’m posting my balance/gains/etc from the last 4 weeks. And I have to say that my mindset was a bit different this week knowing that I was planning on posting my results. I think I had a different mentality that helped me be a bit more disciplined in my trading. So I think I might try to make it a habit to post at the end of each week to give myself a bit of accountability. I know it doesn’t really benefit others in the thread, and if people have an issue with it, I wont, but if its cool with everyone, I’ll be doing this every friday afternoon. And hey, maybe if I do well over the course of 2012 it might motivate some newcomers.

Anyways, with that, here’s my results for the week…

Have a great weekend everyone.

Matty

[system]

[video=youtube_share;chJ0XdRTGlg]YouTube

It will be a journey like no other… :13:

[liftoff]

even the journey to Neverland?

[PerchTird]

I’m not sure about your job, and the downtime you get there, but even if you can check your trades once per hour – it will give you so much more confidence in [B]placing[/B] the trade. I know how it feels to see great setups at NYO but realize you won’t be able to manage the trade while at work…

It was even affecting my LO trades… the ones you are supposed to hold for the full day’s range. I would sometimes be in a great trade… with no way of managing it while at work. I’d want to wait for London Close to get the full move, but I’d have to resort to “guess orders” or simply closing the trade at NYO.

It erodes confidence, that’s the real damage IMO.

So like someone previous said… if you can possibly, at all, work with a smart phone for a few minutes per hour, I think you will be amazed at the boost in confidence you get!

And if you are just talking about moving stops to BE… that can be done in 10 seconds on the phone… the technology is quite impressive (I’m using Oanda’s FXtrade app, FYI).

The charting isn’t very good on Oanda’s app, but I found charts by “Netdania” that are quite good (and free! )
I still wouldn’t recommend entering trades on the phone, and if at all possible, have a good idea what you want to do with your trades beforehand, so you aren’t getting too involved with your phone while working… wouldn’t want you to lose your job! We technically aren’t allowed to use our phones while on the floor, but there’s some pretty lax supervision and lot of space to hide in haha (the one benefit of working in a warehouse!)

If none of this is possible for you… yeah that partial close EA might be your only shot

THanks for this! - unfortunately - no such phone exists for our family- but I have been checking charts via internet a few timies a day- and like you say - it builds the confidence, in the fact that I am right - so partial ea it is for now – but i’d LOVE to be able to manage a trade ‘while at work’ - just the fact of moving to BE -
Oh well - the partial ea will do that for me - has 2 times so far but still not sure how the thing is working

Again thanks - this note helped me to realize my low confidence is due in part - I am not able to monitor and get out sooner or let run longer.

[mozdef]

hey guys. Does anyone have the Kill Zone indicator? I think it was posted a while ago but I can’t find it.

[matty44]

So for all you guys that were able to catch the drop in the Cable on Friday…

How did you get your entry?

Here’s my day from Friday:

At #1 I was looking for price to retrace up to the 1.5720-1.5725 level for an OTE retrace and short. Price never got up there to make an OTE, so I didn’t take the trade. I know there was an OTE on a higher time frame (which was part of the reason I was watching that level), but SL would’ve been way to big for my liking. I wished I woulda caught it, but as price moved down, I saw an OTE long entry at the 1.5650 institutional level, previous S/R, retest of asian highs, price now in pivot buy zone, and a chance to get in sync with the direction London was moving (#2). I went long right at 1.5650 and immediately got crushed. I waited for LC and saw another opportunity to get in sync with London’s direction and bought the LC OTE (#3) and held on til price moved up to 1.5650 level (#4). So I lost 30 pips on NY, gained 38 on LC. So not a ‘bad’ day per se, but I woulda loved to get in on the drop during NY. So how did you guys justify an entry point to catch that move down? Thanks.

Matty

[akeakamai]

So for all you guys that were able to catch the drop in the Cable on Friday…

How did you get your entry?

Here’s my day from Friday:

At #1 I was looking for price to retrace up to the 1.5720-1.5725 level for an OTE retrace and short. Price never got up there to make an OTE, so I didn’t take the trade. I know there was an OTE on a higher time frame (which was part of the reason I was watching that level), but SL would’ve been way to big for my liking. I wished I woulda caught it, but as price moved down, I saw an OTE long entry at the 1.5650 institutional level, previous S/R, retest of asian highs, price now in pivot buy zone, and a chance to get in sync with the direction London was moving (#2). I went long right at 1.5650 and immediately got crushed. I waited for LC and saw another opportunity to get in sync with London’s direction and bought the LC OTE (#3) and held on til price moved up to 1.5650 level (#4). So I lost 30 pips on NY, gained 38 on LC. So not a ‘bad’ day per se, but I woulda loved to get in on the drop during NY. So how did you guys justify an entry point to catch that move down? Thanks.

Matty

I think the reality is that the 5min OTE entries are for getting in with the tightest possible risk. The downside to that is that you will sometimes filter out good moves that didn’t offer up a lower TF OTE. I think this is just one of those cases where the reaction was too fast and furious to offer up anything in the way of a 5min retrace to OTE.

I think there should be an alternate stop placement rule for Hourly OTEs personally. Most Hourly OTEs will react RIGHT at the 79% level. I’ve been wondering lately if a stop 10pips above the [B]90%[/B] retrace level would be a suitable alternate stop placement. I think that would get your stop <30 in most cases, and <40 in nearly all cases.

Just my thoughts…ICT’s got the Definitive answer on this one!

[matty44]

…and the winner is…

Now pick up your trusty Fib and march over to the 10 Year treasury market…

Can anyone save me some time and point me to which video goes over the relationship with these different indexes? Thanks.

Matty

[cubanpip]

unfortunately - no such phone exists for our family- but I have been checking charts via internet a few timies a day

If you use Metatrader, have you ever try to copy your Metatrader folder into a memory stick? It’s amazing but you can use it from ANY PC with Internet access. So this is another way to do what AK said about check once per hour and you don’t need the phone, and this portable version made by you functions just like the standard one installed in your PC.

Best regards

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[I]“Me quedaré, me quedaré, [B]siempre cubano[/B] me quedaré…”[/I]

[dantheman53]

Can anyone save me some time and point me to which video goes over the relationship with these different indexes? Thanks.

Matty

It’s in the “Higher Time Frame Analysis Part 2” webinar. Around 1 hour 20 min

[georgewhite]

I warned you all a year ago lol

Wait until the gathering we bring in 2012 :57:

they say, when u become a trader u get to know yourself // personality-wise//…
case in point, u DO plan and wait, like the sniper u r
u planned it darn well

[PerchTird]

If you use Metatrader, have you ever try to copy your Metatrader folder into a memory stick? It’s amazing but you can use it from ANY PC with Internet access. So this is another way to do what AK said about check once per hour and you don’t need the phone, and this portable version made by you functions just like the standard one installed in your PC.

Best regards

---

[I]“Me quedaré, me quedaré, [B]siempre cubano[/B] me quedaré…”[/I]

Thanks again - I did download the platform at work - awhile back - and the place I work - somehow blocks the feed to it - - I believe the block anything with a ‘live’ connection to something else. So not sure this would work for me - thanks for the thought

[akeakamai]

I recently watched ICT’s latest FEB 2012 Trailer, and was intrigued by the term “Apex Predator”.

So I did a google image search and am happy to share with you guys the definitive image of an Apex Predator:

[matty44]

It’s in the “Higher Time Frame Analysis Part 2” webinar. Around 1 hour 20 min

Great. Thanks Dan.

[poca]

I recently watched ICT’s latest FEB 2012 Trailer, and was intrigued by the term “Apex Predator”.

So I did a google image search and am happy to share with you guys the definitive image of an Apex Predator:

Pretty sure he needs some scuba gear. Also ICT, February!!!

[system]

I scrolled down and nearly busted a gut… Tea sprayed from nose and still… I’m giggling while typing this post… lol that’s funny right there! :35:

I recently watched ICT’s latest FEB 2012 Trailer, and was intrigued by the term “Apex Predator”.

So I did a google image search and am happy to share with you guys the definitive image of an Apex Predator:

[fxnumerouno]

Hey guys,

nice short you caught on Friday, but wanted to share what I saw and traded in LO (another day at home hehe). It might remember you at ICT’s Buy Setup

Uploaded with ImageShack.us

My AUDUSD position of Thursday was closed as I trailed my SL to 1.0110, because it normally moves in sync like GPDUSD/EURUSD, so I decided to put stop 10 pips above the last swing low which was 1.0100, so I gave it another 10 pips to be above inst. level. 210 pips for the last portion + another full 30 pips because of the reentry at 1.0130 at the retest of the range.

The next thing I’m watching is the Seek & Destroy setup on Fiber But I think I won’t be able to trade it as I have to work again on Monday

greetings