Cannot wait until ICT gets back. I realize I need to solidify a trading plan I can stick to. I understand the material, but realized I never put it into anything concrete, as in ‘if price moves here I will do this’. Something I can stick to and grade myself on whether I am sticking to it.
This is important because it is all about the numbers, someone is allowed to use discretion when they have more experience but in this instance most of us are newbies and need to stick to something. If we have a plan that is 70% accurate, we must live through the other 30%. How can I live through the 30% if I don’t have anything that I think gains 70%? In that sense I will never know because if it doesnt work the first time I will just move on because I didnt realize it was supposed to work 7/10.
I am not looking for ICT signals, and thats not what he wants to provide but I know he has an exciting journey to lead us on and I cant get my shark to behave, or the raptor to carry a bazooka…yet.
I am in the same trade but I waited for an OTE to form within the OTE you are showing…hope to see price go lower from this point and get the ADR and close lower for the day. Will have to wait and see. More analysis on this trade when I get some time.
I am still in my GBP/USD trade and waiting to see if we will break below fridays low.
Focusing on using the 1hr to look for intraday setups based on a 4hr market flow bias and corresponding pivot zone, I have literally jumped from leaps and bounds in my understanding of how to pick a OTE. The huge swings I am picking off a OTE almost always endup corresponding with a institutional level or noted S/R. It is almost uncanny. I have spent my weekend re-running paper trades now against 5 months worth of historical data just for the cable and results are very consistent. The 1hr also helps me focus on the larger swings and bigger picture for large moves. I was all over the place before when watching the 15min.
Using 50% profit for TP1 and another 50% for TP2 at either 100% of the swing measured or 123% fib projection for smaller swings nets really good results overall with low risk.
This resulted to about 7-8 trades average per month trading only the LO and averaging about 140 pips per month using 30 pips S/L.
Another thing I noticed is how I deviated a few times on some of the trades with respect to pivot zones based on confluences of the OTE (figure, S/R, confluence with previous day’s pivot …) and netted good results overall for them as well.
Feeling very confident using this setup going forward.
Hey guys I just stumbled onto this thread about a week ago and I am just amazed I never found this thread sooner. There is so much useful information in here. I have been going through the videos on the first page and watching the market useing the method taught here. I just downloaded MT4 a couple of days ago and Im trying to get the traders trinity indicator loaded on it but I am having some trouble figuring it out. If someone could help me out I would really appreciate it.
I am trying to create a small graphical tool to help me visualize what session we are in and what kill zones are approaching. I will gladly share it with everyone, I just need help identifying the times. I know I have a few of these times in my notes but I am having trouble finding them. Please confirm the times I have listed below and add on to the ones I do not have. I have an idea for the times I’m missing but I would like to be in sync with what ICT teaches.
This is what I use but I’m not 100% it’s correct so please correct me if I’m wrong. I use ICT’s Kill Zone indicator for MT4 and change the colors to 10, 10, 10 which is a shade of black that’s easy on the eyes rather than bright contrasting silver. My times are:
Kill zone:
Asian 0:00-2:00 GMT (7pm-9pm EST)
London Open 7:00-9:00 GMT (2am-4am EST)
New York Open 12:00-14:00 GMT (7am-9am EST)
London Close 15:00-17:00 GMT (10am-noon EST)
I believe those are the times ICT has given in his vids. Also daylights savings time factors in somehow. I’m new as well, just hoping to contribute a little.
ALWAYS in your decisions take into account MAJORITIES’ choice and BE careful cause here ANYTHING can happen (maybe today becomes another 10/27/2011, who knows?)
Ak do you by any chance use OANDA as your broker? I’ve found that the opening prices on Sunday are sometimes different on other brokers’ feeds. I trust that the OANDA one is correct, but it’s just a bit weird to open another broker’s feed and to see a massive gap…
I’m pretty new here so I was wondering if some if the more experienced subscribers to ICT’s methods could critique the trade I just made. I’m hoping you can tell me if I’m thinking along the right lines with regards to the application of ICT’s teaching.
Current daily flow on the cable is bearish based upon the latest fractal and short term highs and lows, and because we have traded above the central pivot I’m looking for opportunities to go short.
Taking a fib from the previous days high to low, I see an OTE aligned with a confluence of higher time frame S/R at 1.5818 and R1. As such, I’ve gone short at 1.5818.
OTE, higher time frame S/R and pivots are comparatively straighforward in my mind… I suppose my biggest challenges at the moment are in determining market flow when there are ‘mixed’ signals. Any thought on my logic would be appreciated.
Edit: I also forgot to mention, I did the trade within the London kill zone, expecting (hoping) that I am already close to the daily high.
Maybe you broker feed shows the last daily low fractal was broken with Fridays low. Mine shows it got close and didn’t quite break it (half a pip away). So technically, I have bullish market flow on daily, not bearish (but it was so close a different broker may show it broken).
Remember, it needs to break a fractal low to change flow, not just form a fractal.
You entered aggressivly on reaching R1. Nothing wrong with that. In fact, I had that price level marked on where I expected price to react. A more conservative approach would be to wait for an OTE to for using a swing today around r1 to short. This OTE would nest inside your longer term OTE.
Are you still in the trade? I would have taken this same trade, but didn’t for 2 reasons. 1) a lot is going on in Europe with regard to Greece. A spike could have been likely in my mind. 2) the ar was very large and used up almost the whole ADR. Didn’t like that action combined with Monday.
I would have a tough time still being in it at this point. Showing no signs of breaking the ar at this point and it’s providing support.
I did exactly the same for exactly the same reasons except I took the fiber. So you’ll get no criticism from me.
Also there was a SMT on the USDX and fiber for the cable at LO.
Not lookng like a great trade at the moment but I’ve taking 50% at 30pips and will see how the rest goes for us.
