Wait for price to exceed ADR at London Close on GBP/USD, EUR/USD, EUR/JPY, AUD/JPY, GBP/JPY, USD/JPY, AUD/USD, USD/CAD, USD/CHF, NZD/USD. Look for Daily, Weekly, Monthly, Quarterly S&R from which price will most likely retrace.
Wait for price to retrace a minimum of 15% of the day’s range before placing an order at 79% OTE +/- spread controlling risk with an SL of 10 pips on the low/high.
I plan to trade 2-3 setups for the week risking no more than 1% on each trade and looking for Double Tap TP of 1.5% per trade. (This is my comfort Kill Zone for the time being. I miss the majority of LO trades each week, and feel pressure to make a trade on the one or two opportunities that I do get. This is my bread and butter.)
Get back into an exercise routine because it makes a huge difference to my mindset. Although I have made great leaps in my understanding of forex this last year, there has been a serious lack work/leisure balance. This needs to be rectified.
Try harder to turn off from all things forex related. My son knows when my mind is a million miles away from our conversation, and it concerns me that this happens far too often these days.
Continue research collaborations with others in order to gain a higher understanding of longer term trade signals. Share the workload! Try to help others on the forum as much as possible, but not at the expense of helping ones own family!
I also want to organize my trading platforms into ‘compartments’ or ‘matrix’. Now that I know how to use MT4 profiles I aim to setup an Asian Open profile, London Open profile, New York Open profile, London Close profile, and COT profile.
Thank-you for your continued hard work, Michael. You have given so many people so much hope for the future. I love it when people say to me ‘Yeah but what about the crisis…what about the economy…surely you are losing tons of money in this climate?’ I know that without your insights my answer would have been very different just a year ago…now I have the satisfaction of nonchalantly replying ‘business as usual!’
Kindest regards, and wishing you and your family a very happy Christmas and New Year.
PipARush Petru, just seen that video before my post … it explains how to do it … but not where to get the overlay graphs. I use timingcharts.com for the COT report and it works fine. They have the ten, five and two year notes too but I can only see them one at a time. I wish I had one which overlays them so that they are easier to compare.
If anyone wants an unlocked version of that Trade Sheet you can go to forexmentor.com and look at TheLondonCloseStrategy section which they have the same document there…
Do you want this?
Michael showed us very clear how to get this overlay chart in that video.
Go to StockCharts.com - Free Charts
Create a PerfChart,type:"$ust2y,$ust5y,$ust10y"
I hope the rant earlier wasn’t prompted by my mentioning my friend who bought the 5K course. I’m just impressed that we get so much for free here. A free ticket on the gravy train.
Sorry its a bit late…but here’s my goal list.
Actually there is only one goal.
I WILL NOT TRADE THIS WEEK.
This will allow me more time to:
1)Study the methods and understand more.
2)Spend more time with my family.
3)Learn the art of patience…the market will be here next week
I noticed on the COT charts that the Commercials had a bit of a decline in their net longs last week, do you think price will go upwards somewhat as a result?
Hi PipARush Petru, thanks and excuse my mistake. You are right he did tell us in that video. It turns up I assumed you were referring to another video.
hi ict and all
regarding the rant u had,i am sickened by those feckers who invade places and rob them, working out their tricks on somebody’s back. i have such strong feelings against them cause they happened in my vicinity //real-life// few times as well… cant stand it, when goodness of others is abused by these ‘‘smart’’ feckers thinking how weaselly smart they r, i d smashed their jaws in lawless land…
i hope they get their lesson twice the size whatever they commit against fairness in all areas of life.
sometimes i didnt wait for their karma, just in case she blinked and treated them their own medicine + bonuses…
great thx to u, that u r not discouraged by few weak an idiotic individuals to carry on the journey, but as u mentioned, it was expected…
great thx to u and all for this good place
10 days before xmas, not really trading unless something is crispy clear 2 me…
big fan of london open, this fiscal end period will serve me as a breather to tune up more …
but after half january no excuses will b available
i think that posting a live trade like this is like, so what?
i guess bigger value has the plan and the sheet outcome we post here on weekly and monthly bases,
but this set up might b the london train, we ll c how it goes,i am rather scalper then swinger i guess
second try,i dont enter every close up 2 swing high/low,watching few things…
very small sizes anyways,looking for the 2012
and i guess i wont post much live trades as it might b perceived rather silly…
everybody know or learn or try to look at the ICT concept his/her own way
weekly and monthly results are those that want 2 b seen…
and i study my winning trades as much as those lost ones.
i hope i ll b around laptop more rather then the job
but its nice to b profitable even when wrong
looks like its not time yet - BE-ed
