i am in similar predicament with you. no one beside my elder brother who can see what was really i am doing for the past 2 years, almost fulltime, days and nights, trying to learn trading as i have not shown proof i.e the fruits of my labour. blown many times nano account to practice what i’ve learnt so far (don’t really know what I understood) until i joined ICT, i began to see the meaning and logic of forex terminalogies written in previous books and web sites. Michael clearly explained and made relationships the pieces of jigsaw puzzles, much easier to understand.
2012, I promise myself to finish studying ICT’s material and follow-up with the exciting programs he has planned in Feb.
Michael, and all traders here, thank you very much for sharing your knowledge and experience with us new (and old) aspiring forex traders.
wishing you good luck and good trading in 2012 and onwards.
I know exactly what you are talking about, and Im sure most people in this thread know it as well;)
There will always be naysayers, and looking back, many of the best decisions I’ve done in the past were despite so many people advising me against it.
As I am still so new to Forex it is impossible to know for sure yet, but it just seems and feels so right! I think it is exactly what I’ve been looking for, as If this market was taylor made for me;) I really hope, from the bottom of my heart, that I can prove to all the naysayers, once again, that my decision was right.
at the end of the day, its our life, our decision. If we loose our shirts, it will be our shirts, but it will also be our Maseratti if we succeed;)
I am happy that my wife is behind me and supporting me in every decision I make- my EX didn’t, thats why she’s my ex;)
(I hope nobody will take this as an advice to get a divorce or to breakup! certainly not my intentions here hahaha!)
But with my Wifes mental support and with the support of this community here, I think I should manage the transitional phase to profitability just fine. Once we make a killing out there in the market, the naysayers will shut up or change into jealousy-talk;)
I hear you…One of these times i just want to ask them what their hobby is and tell them how much of a waste of time that hobby of theirs is to see what they have to say…but i guess i’m to nice of a person to do that…so I guess I will never find out…
just watched the correlation video… I finally understand how to properly apply the SMT;) this past few days, watching the foreXmas Videos gave me so many AHA-effects, where I finally started understanding certain things I haven’t understood before… it is a great feeling!
By the time, the few last videos are released, I will have used up half a package of printing paper (A4, 500 sheets) for my notes! and this was only for the past 3-4 weeks! (How many trees are that?;))
In theory I feel quite ready to start demo trading in one week… but in reality, I’m sure I will still be lost on my charts for the next few months;) hahahaha
very excited to get started!
Hi Hikapo, Im NOT ICT but I will try to answer your question.
The way I understand his advice from the video:
lets say you’re loosing 100 bucks in a trade, where you risked 2%. Then you should strictly do your next trade on 1% risk (cut the risk in half) now, lets assume in that second trade you’re loosing again, this time you lost 60 bucks.
You will cut your risk in half again for your next trade. So your next trade you’re risking 0.5%, and luckily you start winning again!
In your 2 loosing trades you lost a total of 160 bucks.
So in my understanding, ICT advices us to continue trading 0.5% risk until we made back half of the money we’ve lost, in that example we would trade on 0.5% risk until we have made 80 bucks.
At that point we can upgrade our risk to 1% until we made the other 80 bucks to break even. then we go back up to our regular 2%- basically entering back at the same point where we have left our winning frenzy;)
The way I see it, you should NEVER go higher than 2% risk, even if you have 1000 winning trades in a row. But the amount or percentage you’re willing to risk is really up to you and your risk/money management.
hope this makes sense?
and If Im wrong, Im sure someone will point out the mistakes.
i have the same thing on my mind about the percentages…
300% in 3 months with 2% risk and cutting back on size after loss, that would b lots of correct calls with lots of pips //just thinking how it was done//
kelly’s system //once mentioned by ICT// u cut bets when u loose u increase when u win, as long as i know…
ICT never stops surprising us and i guess our answers are coming in those nuggets like ‘‘7digits per year’’ and ‘‘explosive profits’’
the thread is so calm today where are you ICTers lol.
a i want to ask if there is any way to download the videos from the live channel to the computer i like to save all the vids
so i can return back and see them again and again?
also Micheal said something about an indicator to build on MT4 reflect the relation ship between the open to high and the open to tomorrows close ( not sure ) did any body build that one?
i have and idea in my mind to kill this silent in the thread every body till us the story hoe he find this treasure (our thread)
Just watched the last SMT video and wanted to thank ICT for it as I knew this concept but it was always a bit fuzzy in my head. This last video gave me the clarity I was looking for.
Also happy new year to all of the contributors of this thread, may all your positive dreams become reality in 2012. Am looking forward to continue this journey together with the guidance of ICT. Words cannot thank him enough for the time he invests in teaching whoever wants to listen.
when watching $X smt,
i d presume that eu would b going in better sync since the percentage,but might b way wrong,as i haven’t put any study into it yet,so dont throw stones at me in any case,just to keep in mind how the $x is calculated
my story starts with the day i start knowing about Forex.
i was running a program in my computer that shows ads in a window for making money online. i didn’t look at any of the ads really but one of them attracted me so much which is about the Forex market in site name ETORO.
so i entered the site and start trading with out knowing what i am doing. i started playing in a game in the site, the game was easy just trading for full week and see how much you can gain.
in this game i always lose always, so i say to my self that i have to learn about this.
one day at the same site in the chat room some one mention babypips and how good this site is to learn about Forex.
immediately i started learning at school of pipsology, after that i toke a tour in the forum and this thread attracted me so so so much because one of ICT reply’s to another thread where one person asks about if there is any body make one hundred thousand a week from Forex.
and Micheal replay that he’s doing it, this reply change my hole life.
thanks Micheal to be such an inspiring your word touch deep in my mind so that’s why i am here today
As far as I’m concerned the EURUSD is the perfect mirror reflection on the USDX, perfect to the pip at times, so any ‘‘crack’’ in the mirror should be spotted from miles away i suppose… :33:
A new year is here with all what it can give and take, today I loose my Ict Sell and Buy templets due to computer crash.
all other Ict material I have stored in a very safe place but this ones I lost. If any of you guys have them I will be very great ful if you can help me with this. either here or post it to me at <[email protected]>
Entering newbie island, the rectangle of the tread of ICT is seen a symbol of a clip …
This is the attachements the whole tread …
Is there anything that was posted since the beginning …
Hi all,
I havnt contributed much.Just reading the thread and watching the videos and learning at my own pace(which has been very slow due to work etc).
I got interested in forex over a year ago and opened a demo account. Every time I lost a trade Id try and find another “winning method”.
Within a couple of months I somehow came across this thread and ever since Ive only stuck to learning the ICT methods. In that whole time I have not taken a single demo trade!!( I didnt want to lose a couple of trades and get frustrated and move on) I wanted to learn as much as possible before starting demoing.
My plan for the next 6 months is start demo trading. If im profitable then I’ll open a micro or nano account and trade with real money.
its been a very good 2011, having something like this to look forward to and making it a success. All thanks goes to ICT and the great work he has put into all of this. You dont get many people giving away something like this for free.
and a huge thank you to all the thread members who have contributed as well.
Happy new year to you all.Hope you all have a great 2012
