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

What chart does Michael use…that would be the gold standard IMO

Good point. You may be right. ICT uses linecharts in the Major Market Analysis and Interest Rate Overlay videos which is why I assumed linecharts. That said, he uses candles in the Webinar 2 video.

EDIT I think you’re right. Candlecharts will show lows and highs. Linecharts typically show closes. I think the idea is to compare highs and lows, so candlecharts are the ones to use.

Currently recording “The Power of Three” live stream, so people can download it. Expect that to be up in a bit. :slight_smile:

Regards,
Clark

From Twitter:
“You are looking at comparable highs and lows. I track larger Acc/Dist phases with line… Sharper Div with bar/candlestix”

He illustrates the concept on forex ltd. Charts but i doubt he uses them for his own analysis… Their price feed is pretty unreliable.

Just wanted to say thanks to ICT for that great content he put up recently, Really have tried to take it in. Thanks and have a happy new year.

So I’m working towards my goal of being more disciplined in 2012 and that involves writing down more rules and forcing myself to have checklists for trades. I think one of my weaknesses is thinking I’ve got everything down in my head, but I find myself realizing after the fact that I forgot to check SMT, or TT, or some other thing that would have clued me in that I was about to take a bad trade.

Anyways, I was wondering if anyone would be kind enough to post any rules of trading/pre-trade checklists they might have. I know Michael will be listing his “pre-flight checklist” at sometime, but I just thought it would be nice to see what everyone else is currently doing. I know it would help me personally. Thanks

Marty

Matty…
: )

I believe he uses eSignal still, AK.

Can you belive this thread is how big now. I lost my copies of the files on the page that has plan for pips on long trades scalps and swingers and keeps count of your money too i got a new computer and dont have these anymore please help me get them agian. Does anyone have this or can it be linked on here. I want o keep my email priv thannk you so much guys

I have no experience with them. I assume the price that forex ltd. show to be for a product that is derived from the actual dollar index. They determine the pricing. I suspect it is usually close but that I don’t know either.

The high on Dec 29 was 80.86 (Forex Ltd) vs. 80.854 Dollar Index from the ICE exchange
The high on Dec 14 was 80.77 (Forex Ltd) vs. 80.730 Dollar Index from the ICE exchange

The ICE offer futures and options on the dollar index. They also relay the index itself.

Quote:
[I]How is the U.S. Dollar Index calculated?
The ICE U.S. Dollar Index is calculated by Reuters in real time approximately every 15 seconds from a multi-contributor feed of the spot prices of the Index’s component currencies. The price used for the calculation of the Index is the mid-point between the Reuters top of the book bid/offer in the component currencies. This real-time calculation is delivered to the Exchange and redistributed to all data vendors. The prices of the DX futures contracts are set by the market, and reflect interest rate differentials between the respective currencies and the U.S. dollar.[/I]

Click here for ICE Dollar Index FAQ.pdf

I think ICT mentions in a video to start using ESignal once consistent profits are there or something along those lines. I suppose ESignal also relay the actual dollar index.

For those of you that got in long on the LO, were u not looking for a judas swing below Asia? I was waiting for price to break below Asia to the 1.2950 level and form an OTE. I know price retested yesterdays high/1.2980 level and that provided support for the move up, but I was looking for price to move down below the Asian session lows before it moved up…Isn’t that what ICT recommends? Were you looking for a judas swing initially but were able to change your plan on the fly due to SMT divergence around the 1.2980 level? Just curious how you guys caught that move.

Matty

Hey guys, when I go into the “parameters” tab the only thing I can change is the “value”. I dont have an option for “ray”.

I know its not a big deal but the chart looks a lot neater if I could have the short horizontal lines.

Here you go everybody, I recorded the livestream for “The Power of Three” from ICT’s 25 Days of Christmas.

Day 14- The Power of Three

Enjoy!

Maybe ICT himself can post this download link on the first page of the thread too.

That tab should have two times, two values and one Ray checkbox to modify. Can you post a picture of what you see ?

I think I know what the problem is here. You’re trying to adjust the properties of the “horizontal line” tool. If you’re doing that, it’s incorrect.

You need to make this change on the Trendline properties, which is the tool circled here:


If you are in fact doing this, then clearly the problem lies elsewhere.

Thanks clarkfx,

Btw, will you do the same for the “Higher Time Frame Analysis” series? I’ve been trying to do it myself for those 2 videos but i find that my connection seems unsuitable for anymeeting’s webcast as theres a big delay between the audio and video. Am i the only one that experienced this?

Would highly appreciate if anyone can put that video series up. :slight_smile:

Thanks for the advice, elfrip! No problem, may have to give me a day or two for those though. :slight_smile: Expect them up in a bit as well.

Regards,
Clark

I’m recording the first one right now, so if you wanna start, can you start with the 2nd one? If it doesn’t work out (it’s my first time using camtasia) then you can do that one after if you’d like :smiley:

Would someone be kind enough to explain using a chart what ICT was explaining on his twitter account, I think I have information overload and it all went over my head…