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

[FredFresh]

@Sageone

On a brighter side of things, we have daily candle divergence. Big move ahead

yes but its a double divergence. Now a big move might be ahead, but which direction? or maybe they cross each other out?
hahaha
I wasn’t trading today, and not planning on trading tomorrow.
I will try to trade only the first half of the week and catch the weekly train while doing so… should be enough for my weekly goals… (in many instances it should even be enough for my monthly goals - each week!;)) but just beginning so the market will teach me a lesson soon enough;)

so long

[phenex]

Exactly the trade I’m in right now. Although I used a 20 pip SL and sized my lots accordingly to the percentage I was willing to risk.

If it went up 20 pips, That would break the daily high, and I would see it as a failed trade at that point. I rationalized it if it drifts up 20 pips, it would likely drift up 30 pips to the R2 level.

That way, it only needs to retrace back to the 1.2800 inst level for me to take some off, move SL to break even, and let some more ride to the same TP projection you have. I did also allocate a thrid portion…in anticipation of a potential judas swing tomorrow morning for a move higher. My plan is to leave a little bit on the table…expecting a buy day tomorrow, to capture some of the judas.

I do understand your reasons to place a 20 Pip SL there, but i have to say i dont like it that much. There seems to be a hunt for these kind of stops (right at the recent high) quite often. Thats why my stop is above R2.

[bobmaninc]

Thanks lazydogs

Sigh, just when I thought I was beginning to understand these things, I get hit with an awful day like today… I think I was a bit too married to the sell week idea, and that’s my mistake for being too stubborn

You alway got to remember the weekly candles must have wicks most of the time to. So when price opens for the week then makes a high and drops. At the end of the week you will most of the time see price move up off that low to close out the week. I think it is due to big money collecting weekly profits. Same as the daily why do you think price reverses around LC banks are cashing in for the day.

[PureMuscle]

Fiber yes, but I still think Cable is going to reach fresh lows, and that´s it. This might be the engineering of a mid term SMT and then boom!, buy program for the next weeks. At least that´s the scenario I´m looking at right now. Cable is still bearish and it will probably fulfill its weekly range at a TT´s extension.

But who knows, I might be very wrong.

Sounds about right But I’m sure ICT was saying that we’re still in a sell program on the fiber? But in any event, are you guys expecting this week’s low to be the start of the seasonal upwards trend in foreign currencies at the beginning of the year?

[PureMuscle]

You alway got to remember the weekly candles must have wicks most of the time to. So when price opens for the week then makes a high and drops. At the end of the week you will most of the time see price move up off that low to close out the week. I think it is due to big money collecting weekly profits. Same as the daily why do you think price reverses around LC banks are cashing in for the day.

True, I agree with that concept, but it can’t be profit-taking if the week’s closing price ends up being significantly above the opening price… That would mean that it was a buy week. This week on fiber was -
Monday - buy day
Tuesday - neither buy nor sell day
Wednesday - sell day
Thursday - buy day
Friday - looking like another buy day

3.5 days out of 5 being a buy, price ending the week way above the opening price…

[wrtm_19]

I´m in the exact same trade with same profit target. One thing to add is that we have SMT supporting this trade. Let
s see how it goes.

Aand stopped out. :60:

[wrtm_19]

Sounds about right But I’m sure ICT was saying that we’re still in a sell program on the fiber? But in any event, are you guys expecting this week’s low to be the start of the seasonal upwards trend in foreign currencies at the beginning of the year?

Me, not really. I´m just looking at that possibility considering current week´s price action. But for me it´s going to depend on how pairs close this week and how they open the next one.

[phenex]

Here is what i think about the LC - Trade and what i hope will happen (and why i placed my SL above R2).

White cross is your SL, now taken out. Pink cross would be the SL of the guys who are buying right now. Hopefully their stops will be taken out and i reach my TP.

[bobmaninc]

@phenex

Here is what i think about the LC - Trade and what i hope will happen (and why i placed my SL above R2).

White cross is your SL, now taken out. Pink cross would be the SL of the guys who are buying right now. Hopefully their stops will be taken out and i reach my TP.

:58: how dare you help big money gun for stops lol

[kashix]

I got the bias wrong as well. I wasn’t really sure what to expect but I went into the trade thinking the high of the week had already formed. I went short fiber at OTE / MR1 with a divergence (fiber higher highs, cable lower highs). There was a bunch of news coming out so I probably should not have entered had I been on the safe side. Got in at 1.2757 and exited 100% of it at +30 pips because I was unsure where it was going. I was up managing stops at break even too.

1st day +2.6%
today +2%

[green_as_grass]

I got the bias wrong as well. I wasn’t really sure what to expect but I went into the trade thinking the high of the week had already formed. I went short fiber at OTE / MR1 with a divergence (fiber higher highs, cable lower highs). There was a bunch of news coming out so I probably should not have entered had I been on the safe side. Got in at 1.2757 and exited 100% of it at +30 pips because I was unsure where it was going. I was up managing stops at break even too.

1st day +2.6%
today +2%

Can’t grumble about that

Yup, I dunno what gelled in my head, definitely was a buy day on the fiber as we all know.
I did a “set & forget” short on the fiber, just had to get some sleep.
If I was awake I could have avoided the loss as Stop loss would have been @ break even, Could have even had 50 pips!
Oh well, back to the text books…

[PureMuscle]

Ok WOW, after a horrible day like today, I watch the ICT Open Access video - and GOODNESS ME this thing has enlightened me!! What an absolute wealth of knowledge! I am actually so damn excited to trade now! Better make sure I turn off my PC until tomorrow before I get too eager lol!

[Hogarste]

Got up early this morning and bought Cable at 1.5292. Set up a very Conservative TP at 1.5332 for 39.6 pips. Should have bought the Fiber instead. I’m hoping things go mostly flat for the next 10 hours and then a false bullish breakout at LO to set up a nice bearish move for tomorrow for the Euro.

It’s been a losing month so far, but this week has helped.

[fxnumerouno]

Seems like everybody is struggling with the new concepts ICT brought to us I’m still only using the things I could read in the thread Don’t feel the real need to get confused with new concepts yet, still mastering the existing ones and the things I grasp while reading your posts hehe.

We should definitly be aware of the bearish divergence formed on the cable before the incoming asian range. Could be a good fake move up into the OTE of todays high to drop down again Let’s see how it looks in LO hehe.

greets

[thirdpillar]

Ok WOW, after a horrible day like today, I watch the ICT Open Access video - and GOODNESS ME this thing has enlightened me!! What an absolute wealth of knowledge! I am actually so damn excited to trade now! Better make sure I turn off my PC until tomorrow before I get too eager lol!

confusing day for me too. how can i find this video? could handle some enlightenment right now. thanks

[Swetrader]

Hi,

I’m new here but been trading for a while.

I just got a job offer at a broker and would like to know what to expect as a salary? / what “can you make”. The position is as a account manager.

Does anyone work with this type of position?

Thanks!

[The_Hunter]

Cant belive how fast the threads moving, its insane!

On Cable, I traded the NYO judas swing down, scalped it to the asian session high for 20 pips and i was outta there. I also thought it was a down day when i entered but luckily i realised in time.

This template anaylsis and the material released lately has really BLOWN MY MIND

[Sageone]

Hi,

I’m new here but been trading for a while.

I just got a job offer at a broker and would like to know what to expect as a salary? / what “can you make”. The position is as a account manager.

Does anyone work with this type of position?

Thanks!

That depends on where you live… You can expect 35k to 45k in Canada.

[The_Hunter]

confusing day for me too. how can i find this video? could handle some enlightenment right now. thanks

Its here TheInnerCircleTrader - live streaming video powered by Livestream

[thirdpillar]

hunter, thanks.