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

Hi,

So I assume we can trade any Fridays except for NFP Fridays only?

Thanks for the answer, appreciate it :slight_smile:

Hi Dabestone,

You can trade ICT’s methods any day of the week but you will find the best and most reliable set ups will occur on Tuesday, Wednesday and Thursday. Thats when the big moves are usually put in for the week.

you can trade NFP, just hang on to your shorts cause you can lose them in a matter of seconds

I never trade NFP :slight_smile:

Thanks for the answer. Appreciate it :slight_smile:

Hi Fury,

I am trying to focus on doing the same on my end in terms of looking to buy/sell based on my analysis/market flow only in the corresponding buy/sell zone. I find this narrows down the opportunities to look for a trade but I am hoping it is a more consistent approach and keeps me out of trouble. I have my live account just recently opened but won’t start using it until I feel better prepared.


I don’t use trend lines either, but Jeez!!!

Webinar from July 2011 over 3 hours on first post… raw plenty of home noise and technical glitches to entertain and annoy everyone… with a dash of gold sprinkled in the mix too… :57:

Although it is a half week later than I expected, I couldn’t be happier to say that my other obligations that have kept me from trading are now done with, and I will be pouring a lot more time into studying and trading the Forex markets.

Right now I am getting my charts set up, and I am trying to figure out the time I should set for the open and close of the days. As it sits, my Monday pivots are all screwed up because they are being calculated from Sunday’s open until Sunday’s EST midnight. Would it be better to combine Sunday/Monday to get my pivots using Friday’s action, or would I be better combining Friday and Sunday to get a 24 hour window for the pivots?

hi,
market on eur usd has been moving side way this week, was able to grab some pips and lose some, i think a bigger move in on the card soon.

Hello,
has anybody got a copy of the ‘trade sheet’ from post 1 not in xlsx as i cant open it or convert.
cheers
mark

what format do you prefer it to be in? Microsoft Excel 2003?

Here it is in old xls format.

TradeSheet.xls.zip (109 KB)

Thank you Cable for giving us the clue that the initial spike up in Fiber was a fake :slight_smile:

Fiber short
Entry:1.3194
Exit:1.3080
+114 Pips

Kinda sucks I had to take this trade on a demo acc. I don’t trade NFP on my live acc. I guess a slight moral victory predicting price action for the day…:slight_smile:

Nice! I got that same trade on my live account :stuck_out_tongue: Won’t be doing that again though, the price action was wild :o

NFP is a carneval ride… ride at your own risk. If you trade it, keep risk under normal exposure… but have a look at the Seek & Destroy Profile I gave you… the template is identica to todays Eur/Usd trading. Right from the video… the day before into NFP and the carnage that unfolds, that is NFP Fridays… voila.

I’m heading out for a week or two… study study study… I will see you all on February 15th. Videos, New Thread, New Tactics, Hunting Season Opens… Ready Up… :wink:

[B]GLGT [/B]:57:

Quite agree - I liked the setups on NZD/USD, AUD and a couple of others today, in particular, but I stayed out as I don’t trade NFP. For each time that it works out well, any small nuance can send things the other way, in my experience. Today it would have played out nicely… but I don’t regret staying out at all. NFP is too close to gambling for my tastes.

Have a good break, ICT!

ST

I traded the AUD/USD on a buy entry today right before it spiked up. Even tho I made a hugh profit, it scared me enough to never trade NFP days again.

It spiked way up and it wouldn’t let me out of my trade. It was almost like my program froze and didn’t know what to do. I tried to hurry up and get out of the trade but it was just going crazy.

This really made me think about if price did infact go the other way on me and I had this same issue. I could of lost a lot of profit very quickly since it was so hard for me to get out of the trade.

Never again.

Inspired by matty44’s example I worked alot harder on my trading this week and made 2.5% off 0.5% risk. Not near his level yet but really good for me. Most of the trades were scalp bounces off major s/r. I’ve been taking s/r off the weekly, daily and 4 hr, looking for setups on the 1 hr and entering on the 15 min. It’s just like ICT says, support and resistance are key. Simply waiting for these levels has improved my results alot. :slight_smile:

Any recommendations on which program to use as alarm for phone for price action?