Just a note on my progress and a HUGE THANK YOU. The last month I watched your videos over and over and over again (especially the first four “so called boring” ones)… boy what a difference it made. As a direct result, I have started developing two strange phenomena called discipline & patience. I know it’s early days, but for the last two weeks, I have achieved my weekly target (75 pips) and more. For anyone struggling, I can only recommend going back to the very beginning and taking it slow…that was the advice you as mentor gave me…and it worked. Thank you so much.
However, I set my TP too far expecting it to move closer to the pivot point and went to sleep. I got stopped out here but I had moved my stop to breakeven so it’s all good
Great post. It’s definitely worth going back to those initial videos from time-to-time and reviewing them again. I think that the points ICT makes in them don’t just need to be understood, but thoroughly absorbed so you live and breathe that information in every aspect of trading. This can only be achieved by repeatedly viewing them.
Those first videos were what marked out this whole ‘system’ (for want of a better word) as different for me. So often the psychology of trading and so on takes second place to the nuts and bots of actual tools and strategies. In this system, it’s the foundation on which successful trading is built. If that foundation is shaky, the whole structure is liable to come crashing down.
The thing is, many people who are new to this thread may be tempted to skip over those first videos in a rush to get to the ‘meaty’ stuff. Those of us who have followed it from the start were lucky. We had to wait for each new video so were given the time to review and really think about the content of each video before the next appeared.
Anyway, great to see the difference that they’ve already made to your trading. Amazing stuff, isn’t it?
Been going through the ICT videos etc and whether I could see any of it being applied to today’s price-action. Referring to the price-action in the elipse on the attachment, at 9am GMT I saw the 1hr and 4hr showing the flow as down, based on the Fractal method that ICT teaches. On the 15min there were the following four confluences:
Price was at 1.6120 - Institutional level.
price was at 61.8 retrace of yesterdays high / low.
Price was at yesterdays Pivot.
Price above todays Pivot - so in the “Sell Zone”.
Price at yesterdays Asian session low
Price then headed down , through the Asian session low to 1.6080 (so 15min flow now down as well based on the Fractals), and started to retrace. Great I thought, “Optimal Entry” time, looking for entry between the 61.8 and 76.8 - which was around the 1.6100 area, so another Institutional level. Great I thought, this must be what ICT is talking about…only for price to head clean through this area and keep on going.
So, the question is - was my interpretation of events wrong? If so, why…
I traded the same setup and it was a bust for me as the Cable rallied up through the Swing high tripping my stop loss. The sweep under the Asian low was stop raid that admittedly I suspected but rules are rules and I traded the setup… and the result was a loss. My scalp in the Asian session was breakeven so I’ve managed to score a net loss for the day. Since I do not have a bias I will sit the rest of the week out… being content with the net gain on the week.
Shandy you were on track, as it relates to how I trade it… unfortunately I’ve yet to perfect the entire process. Very good run down though… however, like I mentioned previously… when we are entering the London Session at or very near the Central Pivot… it’s a real toss up sometimes on the bias. The better setups are when we enter the London Open in the S1 - S2 or R1 R2 regions as the price has been “stretched” as we enter a change in sentiment which accompanies session opens and closes.
This is why we use stops and utilize risk management… we will eventually be “Wrong”.
Thanks for the response ICT - as you say, “Wrong” and “Right” were the wrong words to use. Main thing is it is good to know I was looking at this in the correct way, and didn’t in fact have my head on upside down!!
From an educational point of view its interesting how it panned out - the 1hr flow changing to bullish after the Asian high got broken, price then retracing to test the Asian high (twice), yesterdays Pivot and 50% retrace before heading up again.
However as price was at this point above todays Pivot, and therefore in the Sell Zone, would you have considered a long?
It seems like the daily, 4H and 1H market flow was bullish until it hit some resistance (1.6185), which like ICT stated, trumps market flow, so my assumption tells me that the market bias would be bearish. So would it be a good time to look for short oppurtunities?
Awesome thread, great information. I have been a follower for some time, but never really had the nerve to post anything as your method and style always seems to be so far above where I am at this point. At any rate, I have been interested in learning to tackle the 15-Minute timeframe for quite some time despite all the advice I have received from a number of people telling me that it is a long-term losing proposition.
The reason I am writing to you now is the fact that I have been trying to download the MT4 ICT Daily Pivot Macro from the Trader Resources section, but for some reason the link appears to be broken as there is not MT4 file but just a WordPad with nothing readable in it. I was wondering if you could take a look at some point when you spare a few moments.
Thanks again and keep trying to enlighten all of us newbies!
I just tried it and the links fine, you should get a page up from 4shared.com then press “Download Now” which opens another page which counts down from 20 then hit download to get “PivotDailyMacro.ex4”.
To Shandy: I got hammered this week following the flow too. Bugga. :mad:
Perhaps I did not explain myself very clearly. The link to download from the 4shared website is indeed fine; however, the file that downloads is clearly not. It is a WordPad with nothing readable in it. That is the problem. Try to download it and see what happens.
If someone else has downloaded this indicator successfully and could attach it here, that would be much appreciated.
the ex4 files are just the compiled versions of the indicators.
If you save that file into the experts\indicators subfolder of your mt4 installation, and restart mt4, it should work fine.
Let me know how you go.
P.S. Are you a dropkick murphys fan by any chance?
O.K., this is turning into a saga and takes away from the purpose of this thread. I do know that the file from the 4shared website is a compiled file. I mean, come on, that much I am familiar with. The problem, once again, is AFTER you download the file. When you try to open it, instead of having a “functioning” .ex4 file, for lack of a better word, you will have a WordPad with some unreadable staff in it. At least, that is what is happening to me.
That is why I suggested someone attach it in a reply to resolve this quickly.
[B]ICT[/B], I’ve been noticing that your scalps (talking the London close and Asian session trades) make quite the filler in your trading profits. I can’t really participate in these trades because of my work schedule (except Sunday’s asian session), but based on your experience, would being available for the London/NY open swing trades be enough to consistently bring in 50-75pips per week? Or perhaps are there some weeks where the scalps are the only opportunities to get your weekly objective?
Thanks for your help.
edit:
after this last video I feel really obliged to help you out with my username
the short version “ake” is really easy to say, just ay-kay (as in AK-47 since it looks like you like guns lol)
Hi again dkm88,
Don’t try to OPEN the file, you just need to COPY it into the experts\indicators folder in your MT4 installation directory, then restart M4.
I have tried to upload it, but it won’t let me. Perhaps someone else could help out.
Sorry, I didn’t explain myself clearly, I actually downloaded the file from the link just as i said and checked it, it all works fine so I have no idea why you’re having problems.
I’ve set up another link of the file here PivotDailyMacro.ex4
Also here again is a link to P4L clock P4L Clock.mq4
i am the guy from utube who asked u about the pivots. finally i got the time to dig in properly and got a grip to detail it. things are straightened out and running the way they r supposed to.
its incredible that a trader of yr caliber is willing to share courteously.
there r people who promote gimmicks and charge for it, do i know myself.
after a year in trying all things out i can tell that the value and knowledge of yr tutorials are priceless.
gonna watch them couple times to get better feel and b able to construct viable questions if i shall ask them then.
thx again
It is quite incredible isn’t it. When ICT first showed up there was suspicion that he was just another in a long line of vagabonds out to snare some unsuspecting newbies to try and get some money out of them. But turns out he’s in fact the genuine article, an all round good guy who just wants to help and share his incredible experience - which was I think unheard of till now in this game!! Hats off to you ICT, and dare I say it - GLGT!!
Hi george, just observing today as still piecing all this together. Noted at 9:15 GMT what I saw as a possible long based on:
Flows all long on the 1hr, 4hr and Daily
61.8 retrace of todays price extremes
Re-test of Asian session high after breakout
Re-test of weekly high after breakout
Around the 1.6180 Institutional level
However, price was above the Pivot so not in the “Buy Zone”, so not sure whether it would be counted as a valid trade. Also news was coming at 9:30, which obviously helped the long trade, but thats only in hindsight of course - trading around that time would have been a no no!!
Price right now has retraced to the 76.8 of the last swing, so is this an optimal entry? Still got space above to the 1.271 and 1.618 extensions / R2 / ADR High so lets see what happens…
words to use. Main thing is it is good to know I was looking at this in the correct way, and didn’t in fact have my head on upside down!!
