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

Hidden in plain sight… sometimes it’s the best place to safeguard something of value. :27:

Fury and others. Found our answer. 7-12-11 ptc

Pretty much a video with a carbon copy of today.

Trading near month lows and finding entries without an obvious ote

Question About Pivots

Hey everyone, I just stumbed on this thread about 5-6 weeks ago and well…Im pretty blown away. So, Im keeping up with the new posts and working my way through the old ones while trying to watch the videos(over and over) somewhat syncing the date of the video release(PTC vids) to where Im at in the thread. Was just rewatching one of the first videos about OTE. ICT says he bases his pivots on midnight New York time. However, the dates on MT4 he uses are separated using MT4 time, not NY. And the pivots drawn are lining up with the period separations on MT4. The daily pivot macro indicator seems to base pivots on MT4 time. So what am I missing here?? Any help would be appreciated. And…

ICT-just wanted to join the chorus of thanks to you. Ive been searching for a while now. I feel like Im finally digging into something that feels REAL. Cant wait for FOREXMAS!!! Happy Holidays and God Bless–Chris

I just pulled up my EU weekly chart … threw in a fib from the low of 05/06/2010 to high of 30/04/2011 … and BOOM! Right there staring at me … a mega OTE has just about formed (well would have been nicer if it had been closer to the sweet spot but it is still valid). This added to the commercials net position + the last days candle being tight bullish + price bouncing off weekly pivot S3 + dropping US Dollar index … things that make you say hhhmmmm!

Thank you Chris…

I toggle between New York Midnight Pivots and GMT pivots… one set will see Price “respect” the levels and there really is nothing I can share to determine that aside from toggling throughout the Trading Day… and look for confluences on each to support you in your Trade decisions.

Hope that helps for now!

[B]GLGT [/B]:57:

Ah…That makes sense. Thanks ICT!


As a follow up to early… :57:

Where can I download the “Daily Pivot Lines” indicator as seen from the Intro Example Of Fibs & Pivots video? thanks.

First page…“MT4 ICT Daily Pivot Macro”

Keep in mind though, that the “Search and Destroy” template is mainly for when price is in “No-Man’s Land” on the weekly TT. It’s better to be extremely selective about your setups and have a higher probability of winning then to take any setup you see. Cause technically, come London Open, it can be seem as stop raids all day if it’s a “Z”-Day, hitting stops on previous Asia range.

Thanks dantheman53!

BTW, it seems like these 2 files are unavailable, someone please share, thanks
Trade Projection Calculator & Tax Documentation
The Ultimate Trader Worksheet

I’m eying the Cable for LO. Added to all the stuff you mentioned for the Fiber, the Cable is also in an OTE on the Daily chart, and with the dropping USDX, and the bullish divergence between Dow Jones/Nasdaq/S&P (with the Nasdaq failing to make lower lows), AND ICTs chart showing possible stop raid above recent swing highs, I see price moving up tomorrow. Looking for OTE to form right at CPP and long term S/R level 1.5493.

Anyone else looking at a similar trade?

I’m setting a pending order at 1.5498, looking for price to go up to 1.5585 to R2/161 % extension…

Matty

How much are you risking?
sorry, its not easy to see the numbers on the chart.

This oke is a legend!!! :smiley:

ICT, sorry if I keep asking about this, but I’m just trying to make sure that I have this crystal clear; when the daily ranges as massive, as was the case Monday and Tuesday this week, then do the smart money traders deliberately go for a day of stop order hunting before pushing price down further? From what I understand, once they know that everyone is jumping on the bandwagon (all the street money), then they know its the most opportune time to start misleading these poor individuals and taking out all their newly laid stops. Just want to know how far off the mark my understanding is :slight_smile:

All of the forexmas goodies will be released on christmas…:53:

Matty - That was an awesome trade idea by the way :smiley:

http://forums.babypips.com/newbie-island/36328-what-every-new-aspiring-forex-trader-still-wants-know-351.html#post279038
Have look at the zip file.

Wally (suffering forex burn out :frowning: )

I don’t know about you… But it has been a long long time since I felt this way…
But I honestly feel like a little boy again! I am so very excited for christmas morning!:wink:
Hope the servers will not Die when all of us want to watch all those ForeXmas Videos at the same time;)

i had a dream last night, watching ICT’s presents…
no joke :slight_smile:

Nice LO-Trade! Was asleep a little bit too long to take it. :18:

NYO may be another chance to go long.

Its the cable, 15min chart.

  • Commercials long
  • 1H and 4H market flow long
  • NYO Killzone incoming
  • Daily central pivot in range
  • Weekly M1 in range
  • 55100, 5500
  • Asian Session low
  • between 62, 79 Fib


TP1 a little conservative at +20 Pips (1/3 of order) and moving to BE. Second TP after 40 Pips (rest of order) at 1.55500. SL right at the Low of the NYO yesterday.