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

[piptronix]

While I’m at it:
Long on Euro.
Drawing a fib up from the days low to the high gives a 62 retracement which
lines up with yesterdays S2 level around 1.30273.
I’ll watch that as well.
Cant win them both because if the euro wins, then my pound short loses, well would actually break even,
whats left of it, theoretically

[piptronix]

Closing both…theoretically.

[anon10665397]

-Look at your sell day template
-20 institutional level
-Central Pivot
-OTE
-Trading inline with higher TF analysis
-LO killzone

and SMT bearish divergence at 05.00am EST and that confirms the trade

[sladhaFX]

I took two trades at LO - one on Fiber, one on Cable – happy to report TP1 has been reached on both pairs at +30:

Cable Short Entry point:

Fiber Short Entry point:

Fiber gave me a mini heart attack as it came within 3 pips of my SL at one point, but we’re all good.

Edit: These were my order details:

cable entry: 1.55195
stop: 1.55495
tp1: 1.5487

fiber entry: 1.3037
stop: 1.3067
tp1: 1.3007

I have some pretty strong reasons why I chose those entry points, SL, and TP. Good luck all.

[sladhaFX]

I have a question for the traders who have most experience in ICT’s methods … or perhaps for the big man himself … ICT

From what I can grasp so far, SMT is the tracking of two closely correlated pairs such as EU and GU, and the idea is to spot divergences between the two. When this happens one is to expect a correction from one of the pairs. So for example if I have the GU which is making higher highs, but the EU is not following, what should I expect to happen … the GU to drop quickly or the EU to rise quickly?

Note: I haven’t come across the video which shows the SMT yet, but this is what I grasped so far from reading some threads.

Although I don’t have the most experience with ICT’s methods, I have used the SMT successfully in trading and it’s really a great tool to confirm bias. Check out the [B]15:30[/B] minute mark of: ICT PTC 021611 - YouTube

In as few words as possible, when you have a highly correlated pair (such as GBP/USD & EUR/USD), when highs diverge (i.e. one pair makes Higher High and the other pair makes Lower High) around a SR level, you can anticipate price to drop off as this is a Bearish divergence. When lows diverge (i.e. one pair makes a Lower Low and the other pair makes a Higher Low) around a SR level, you can anticipate price to rise higher as this is a Bullish divergence.

Using this alone without further confluence and analysis will deceive you, however. Make sure as many tools line up in your technical analysis and this can be the catalyst to lend you further confidence.

[tastefullvenom]

Thanks for your support sladhaFX…will make sure to check out the vid you point out.

Although I don’t have the most experience with ICT’s methods, I have used the SMT successfully in trading and it’s really a great tool to confirm bias. Check out the [B]15:30[/B] minute mark of: ICT PTC 021611 - YouTube

In as few words as possible, when you have a highly correlated pair (such as GBP/USD & EUR/USD), when highs diverge (i.e. one pair makes Higher High and the other pair makes Lower High) around a SR level, you can anticipate price to drop off as this is a Bearish divergence. When lows diverge (i.e. one pair makes a Lower Low and the other pair makes a Higher Low) around a SR level, you can anticipate price to rise higher as this is a Bullish divergence.

Using this alone without further confluence and analysis will deceive you, however. Make sure as many tools line up in your technical analysis and this can be the catalyst to lend you further confidence.

[system]

There is a lot more to it than that… however, you have one component that will highlight High Probability setups when Smart Money is in a move and ride their coat tails… it’s fun and rewarding!

The module on correlation delves deeper in this pool… hang in there.

[B]GLGT[/B] :57:

I have a question for the traders who have most experience in ICT’s methods … or perhaps for the big man himself … ICT

From what I can grasp so far, SMT is the tracking of two closely correlated pairs such as EU and GU, and the idea is to spot divergences between the two. When this happens one is to expect a correction from one of the pairs. So for example if I have the GU which is making higher highs, but the EU is not following, what should I expect to happen … the GU to drop quickly or the EU to rise quickly?

Note: I haven’t come across the video which shows the SMT yet, but this is what I grasped so far from reading some threads.

[system]

I have no idea… I have no say in the Management of Babypips or what they choose as “sticky” worthy. You and I would have to wait and see, I guess.

:57:

Michael,

I would suggest to the admin of babypips to have this thread in the Sticky of the Newbie Island forum for 2012.

Can you see this possible?

Cheers,:57:

[sharebazar]

I believe Babypips will never move this thread until ICT get upset and say I am having enough I don’t want to give any more free advice and materials.

But I believe Michael will never do that as he is one of the greatest trader and the mentor, Michael please never give up. We are very grateful to you.

[NinjaTrader]

Is there a reason we can’t download “the ultimate trader wotksheet” and the "trade projection calculator&tax documentation"on the first page it says the link is not valid ? Thanks , Ninja

[system]

I’m working with the material and links… it will be wrapped up neatly for your viewing pleasure on Christmas morning… hang in there… not much more of a wait.

Is there a reason we can’t download “the ultimate trader wotksheet” and the "trade projection calculator&tax documentation"on the first page it says the link is not valid ? Thanks , Ninja

[fury]

-Look at your sell day template
-20 institutional level
-Central Pivot
-OTE
-Trading inline with higher TF analysis
-LO killzone

and SMT bearish divergence at 05.00am EST and that confirms the trade

I see your sell day on the cable, and I raise you a seek and destroy on the fiber (albeit not in the TT but stops were hunted!)

[PerchTird]

I’m working with the material and links… it will be wrapped up neatly for your viewing pleasure on Christmas morning… hang in there… not much more of a wait.

Sure beats the annual pair of sox for xmas -doesn’t it! - - I feel more giddy than my 12 yr. old twin boys

[georgewhite]

i just opened my bookmarked link and c this huge list of coming presents.
i am stunned, happy and very, very humbled.
what PRO would help others as much as Michael does ? none
we are totally blessed that you exist, not exaggerating a bit.
that jade master story was clever.
wishing nice day to all and endless thx to ICT for being around

[LearninToPimpPips]

i just opened my bookmarked link and c this huge list of coming presents.
i am stunned, happy and very, very humbled.
what PRO would help others as much as Michael does ? none
we are totally blessed that you exist, not exaggerating a bit.
that jade master story was clever.
wishing nice day to all and endless thx to ICT for being around

Agreed. The xmas stocking will be overflowing. I find myself anxious to see the material for all of the days topics that was just added.

[LearninToPimpPips]

UPDATE: Price hit the 261 extension and S1 pivot right a the beginning of the LC kill zone. Price stopped on a dime and went up about 30 pips. Met some support here as anticipated. The ADR Low of the day is projecting to about the 1.2900 figure, which is also yesterday’s S3 level. Nice confluence. Can LC push down another 50 pips?

OK…an interesting confluence on today’s chart. The 261.8 extension of this week’s TT is at the same level as today’s S1 pivot level.

See image.

[LearninToPimpPips]

@InnerCircleTrader

check out 12 minute mark in that video

700+ pips later this afternoon… voila

Great call…

First time I had seen that video was last night. Amazing.

Here’s TT projection that formed a few weeks later showing the possibility of the December 2010 low (1.2870ish) being taken out.

The projection…

The context…

[fury]

Choking down my food a little as I read what all the 25 presents will be.

Oh baby

[lazydogs]

ok, I’ve been patient thus far, but I just lost it after reading the list

Choking down my food a little as I read what all the 25 presents will be.

Oh baby

[poca]

i’m interested in the daily preflight checklist xD