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

Yep sounds about right to me.
The thing I found helps me a lot is looking at the daily candles and trying to imagine what todays will proberbly end up like using the big candles beget little candles and visa versa concept.
And nested OTE’s are almost worth taking just on their own. :slight_smile:

Wally

Maybe I’m wrong, but I think ICT enters on the 5 minute chart.

If anyone is willing to help me with some of my trade tracking (through excel etc) on how you track trades where you scale out that would be greatly appreciated. I want to track accurately on pips/profit etc without say putting a trade where I scaled out at 3 points as 3 separate trades throwing off my accuracy. Please PM me and we can either discuss there or on skype maybe.

Thanks.

Here is the one from the front page that I have edited and added some of my own stuff. I think it is a bit more comprehensive. any additions/suggestions appreciated.
MASTER TRADE SHEET.zip (111 KB)

Here’s a screenshot of my “pip tracker”. It just tracks pips gained/lost, adjusted for scaling. Maybe it will give you some ideas for your layout :slight_smile:

Yah I was thinking about something along these lines by adding in 3-4 exit points. I was hoping to track both pips and cash value, I was thinking of adding a $/pip section, but scaling out kind of ruins that since the $/pip would change each time you scaled a portion out. I could just track pips I guess.

Yah same kind of idea as akea’s and what I was thinking. I would like a way to track both pips and cash value though, I’ll have to think about it some more I guess maybe just start tracking pips and then figure out a way to incorporate the cash value later.

Yeah it’s up to you. Think about it for awhile, because you’re going to want to track it in a consistent way for years to come (Hopefully!)

I track my $ and % on a monthly basis only, on a separate worksheet. But I do keep a record of end-of-day account balance for my equity curve graph.

Good luck with your template!

Yeah I definitely thought of just tracking some basic monthly numbers like net pips, net profit, amount of trades, etc. But it would be nicer to be able to automate that a little more for less work. But thanks for your suggestions, I’ll have to play around a bit and see what I can come up with. I guess the easiest way really would be simply to put in my account balance after my trade is fully closed and then subtract the starting balance for the total profit or loss from that trade. Only that gets a bit tricky if you have multiple trades going and not just one position.

Regarding the candlles, are you referring to looking at the daily for small range days and anticipating long range days as per ICT’s video (range expansion)? I will definitely look to add that in and see if I can anticipate and try to capitalize on long range days.

Good point for nested OTE’s as well. Taking notes and will look for them in my future trades as well.

I haven’t yet finished viewing all the videos but I saw examples of entries done on the 15min and 5min. I believe the 5min was used to obtain more precision if you are looking to tighten up your risk (more precise OTE and stop loss). I could be wrong as well … :slight_smile:

Yeah, I think I start to post some ideas and pictures again. But my style is a bit different than ICT, although I use many of his tools. Maybe I start my own thread soon. I will see.

Semi automated means, that I dont use expert advisors (automated trading) for this account, but because I trade 3 pairs and 3-4 timeframes on every pair and in both directions, so some steps have to be automated (e.g. entries, size, order SL and TP) or I would go crazy. I wrote scripts which set orders (entry, SL, TP) automatically, but I decide whether I take the trade or not and sometimes I adjust entry, SL and TP level manually or just close some trades if I see, that something goes wrong.

5 minute EUR/USD Short at OTE

Analysis still shows a bearish bias. London open brings price up, hits a wall at a previous resistance line and comes back up to retest. Currently above all Trinity lines for the day and the week, still think this breakout is a Judas.

EUR/USD 4HR: All candles after the big push show signs of resistance and we just had a swing high.

took same trade. thanks for the post, was wondering what others had in mind.

I’m Long, LOL. Guess we’ll see what happens. Out with a few pips :slight_smile:

Looks like a possible S&D day? Banks need to accumulate after all the distribution yesterday? PA seems to be staying within the institutional 3250 and 3280 levels. I think I may just be a spectator today. I always feel guilty when I do that even though I know there is nothing wrong with it.

They’ll be the same. I risk no more than 2% per trade and stop trading at 4% loss for a week.

Think you might have meant Z day. Don’t see price taking out swing highs from a range.

I’m long cable at 1.5880. Bullish divergence between eu-gu. 80 inst level. Pivot level. And type ii divergence from prior low on hourly. NYO kill zone.

One thing I’m looking at and analyzing (to differentiate a true judas from a fake out. If price moves out of AR and then retraces, if price doesn’t break through the AR prior to NYO, I’m seeing consistent days where price moves the direction of the ar breakout.

Happened yesterday too.

Testing a concept where a judas has a battery life similar to how we think of the ADR indicator. If price doesn’t aggressivly move through the AR after a judas, I think the judas may be a judas’ judas. :slight_smile:

Yup. My mistake.