Hi guys and girls, I’m wondering what interpretation ICT and others have of the recent babypips>Espipionage blog post titled ‘The Beginning of the End of Market Makers?’ (sorry not enough posts to include a link).
I’m pretty new to this arena and reading this instills a feeling that I may have arrived at the party a little late…
I’m not suggesting this sounds like the end of profitable forex trading by any means, but what kind of impact do you think this will actually have ?
cheers
I think about the same as all the other crap I have herd about FX…NONE… About the same as 12/12/12 I will tell you what I thought on the 12/13/12.
Is that some kind of market profile indicator ?
Hi All,
Can someone please let post as to which video Kill Zones are covered in? I’m working my way through all of the video’s and have either missed it, it’s on a video that has not been put back up yet or it’s is covered somewhere else which I have not found yet.
The last couple of video’s I’ve watched have talked about kill zones and I have kind of gleaned a rough idea what they are about but I would like some clarity on them.
Thanks in advance.
DT
Hi, DT
There are 4 Kill Zones (KZ’s):
The Asian Session 4-hour KZ — from 1 hour prior to 3 hours after the Tokyo Session open.
The London Open 2-hour KZ — from 1 hour prior to 1 hour after the London Session open.
The New York Open 2-hour KZ — from 1 hour prior to 1 hour after the New York Session open.
The London Close 2-hour KZ — from 1 hour prior to 1 hour after the London Session close.
The Asian Session KZ is different from the other three KZ’s: It is 4 hours, instead of 2 hours, and it specifically overlaps the entire early session of the Japanese stock market.
Local times:
The business day begins in Tokyo at 8am. The stock exchanges in Tokyo and Osaka open at 9am, and remain open for the “morning session” until 11am. These times are Japanese Standard Time (JST=GMT+9). The Asian Session KZ extends from 1 hour prior to the start of the business day until the close of the stock exchange morning session — that is, from 7am-11am JST. You wil have to determine for yourself what time that is on your clock, depending on your time zone. Be aware that Japan remains on standard time year-round, but your location may observe daylight saving time. Michael does not make adjustments for DST, but I do. Take your pick.
The business day in London is 8am-5pm, local time. In the winter, local time in the U.K. is GMT; in the summer, local time is British Summer Time (BST=GMT+1). The London Open KZ begins at 7am London time, and ends at 9am London time. The London Close KZ begins at 4pm London time, and ends at 6pm London time. Again, you’ll have to determine times in your own time zone.
The business day in New York begins at 8am New York time. In the winter, local time in New York is Eastern Standard Time (EST=GMT-5); in the summer, local time in New York is Eastern Daylight Time (EDT=GMT-4). The New York Open KZ begins at 7am New York time, and ends at 9am New York time. (We are not currently looking at a New York Close KZ.) If you are not in the U.S. eastern time zone, then you’ll have to figure local times in your time zone.
If you need help figuring these times in your time zone, refer to — this Table and/or this Table.
Some followers of the ICT trading method extend the duration of the Kill Zones (for example, making the New York Open KZ 3 hours, instead of 2 hours). Michael says that this is entirely up to the discretion of the individual trader. Remember that Kill Zones are nothing more than high-probability times to go hunting for good trades. Different hunters may prefer to hunt differently.
Hi DT, you find the links to the videos of the Kill Zones on the first post:
Trading The Asian Session
Trading The New York Session
The London Close Tactic
There must be another one about London Open, but it hasn’t been put back up yet: maybe ICT will make it available in the next days.
GLGT
P&M 
Thanks Clint
Brilliant Post! that really explains a lot.
Thanks to you as well P&M
Those are the video’s I’ve just finsihed watching. He mentions them throughout but never really explains whate they are or how they came about into being. (I probably missed something so I’m going to watch them again)
Thanks Guys
DT.
Hey guys!
I am just learning about the COT charts and need some advice:
in the chart i got there are 4 lines: Dealers, Asset Managers, Heged and small spculators.
Question is: Are “Asset Managers” the same as “Commercial traders” as ICT talks about? And what is meant by “dealers”?
EDIT: I guess I was wrong: “dealers” should be the “commercial traders” because the “Leveraged Funds” are exactly in the opposed direction on the chart. ( correct me if i am wrong please )
The commercials are large institutions which hedge using the futures market. An example would be a large American corporation who conducts a lot of business abroad and often deals in different currencies. In order to maintain a relatively consistent transaction cost base, they will at one time or another buy or sell the futures of a particular currency to reduce their exposure to the changing spot market. For example, Apple has multiple future orders 6 months from now with suppliers in Japan for construction of their IPADs at an agreed upon price. If the Yen were to increase in value over the next 6 months relative to the Usd, Apple will end up paying more then expected. To hedge against this, they participate in the futures market in hopes of offsetting the change in currency values.
Any fund which participates only for the purpose of profiting in the appreciation or depreciation of a currency can by considered a speculator. They follow the trends in the market.
Don’t worry about small speculators as they don’t move the market.
You want to pay attention for the 1-2 year and 5 year EXTREME positions in the market. The large commercials will often be heavily weighted either short or long at turning points in the market.
Hope that helps
I didnt know they had that chart. I do something with that part of the COT report anyway you are looking at the wrong chart. I would post a link but this computer I have at work dont have flash player and I cant see the charts. Therefore I would not be able to tell if the chart I sent a link to was the chart I was looking for. If I remember later I will post a link to it.
so-
a real dumb question/analogy - that I think i already know the answer to:
for those of you that ‘get’ it and KNOW you’ve got it - is it as easy, as I think I see it as.
My example would be - like this -
lets say your throwing darts at balloons for prizes - like at a kids carnival or something - and a big sign says - shoot the biggest ballon for the biggest prize.
and so all the balloons are the size of a tennis ball, except that one in the middle - size of a beach ball.
is it THAT EASY? metapho
if so , I think in a couple of days, I am going to be beside myself - pinching myself, thinking is this for real - I HOPE.
And so I’d like to post a bit on patience, and getting control of yourself:
My previous post - was something along the lines of I think I finally see it, or ‘get it’ - what I was referring to was/is probably one of the first lessons or at least in the first 4 or 5 lessons - I believe I now know what I am looking for at the time of or around the focus of the SMT divergence - as you probably all already know - not every divergence means it’s a good time to enter -
So - I hope I am on the verge - I need to study more to verify my thoughts - but on the verge of looking and seeing this ONE concept-
a divergence from the lows or highs of the day – and “when” they mean something - -and what they mean when they mean it. AND what to do when they mean what they mean when they mean it.
I guess I was just reading through some posts on each thread and noticed a new term I’ve never heard of a 90 something entry - which maybe looked like an entry to get in with a trend?? who knows - but what I realized is this.
Either I am way way way way and one more way slower than some of you other guys at getting it OR, I believe the case to be for some of you as well - you don’t get it yet.
Like I said - I think I am close - so I can’t say that I get it, but I am hoping that by Monday I will. I get ONE PIECE - and I’ve been here awhile. I am hoping this ONE piece will turn out to be “all I ever need”
So with all due respect - and no harsh intention - - The master ICT has tricks and tools and REASONS for MANY types of entries and has very generously basically GIVEN them to all who care to learn it (US). I’m afraid for the most part - anyone who hasn’t read through the entire first thread - or anyone somewhat new to this material. . . .
This is what is happening to you:
You have been given a brand new porsche or dugatti or lamborghini - or (ok I am not good with fancy cars I don’t know what a dugatti is, I just remember a really expensive car that sounded like dugatti)
You have been given this car as a birthday present - on your birthday ; repeat:: your birthday as in :: you were born today ---- so now you think you can drive lamborgini.
If you struggle with this material and don’t get it – - – STOP— and only focus on the first 4 or 5 lessons or whenever the first concept comes up and STUDY it so that at any given time - you can literally take 1 or 2 minutes check a few things and say – -
this is sh!t - I am not trading today
this is perfect - I expect price to go here because of what I KNOW - and when it does - I am confident that 8 out of 10 times it will stop- reverse and go to this point down here.
Of that last statement - I hope to discover this piece by Monday "I expect price to go her because I know when it does (and all this other background stuff) that it is very likely a great entry place)
How long will this take? (I am have been here for at least 6 months - and get only 1 thing. . .my answer to how long will it take . . as long as it takes. thats it whether its a whole year to figure out 1 stupid thing or heck even 2 whole friggen years.
I still don’t know where or how to determine a good exit point, cause I haven’t gotten the good entry points yet – ----we’ll see.
Sorry for the rant - I probably typed this up mostly for myself to keep me motivated or something.
I totally agree with what you are saying. I am not here as long as many others and actually almost gave up on ICT material after about 1 month as I was overwhelmed with trying to learn all the new tools, concepts … and had no idea how to apply them as well.
I then took a step back and focused on the most basic concepts initially provided until I finally was able to understand and apply them. Until now, there are still many of the concepts provided I don’t yet use. A new tool/concept will be added one at a time in the future as I am able to better understand and make it work for me.
things have been pretty slow in both threads lately, are you guys still there. am not seeing no one posting charts and analysis. come on u guys, where are the regulars.
they’re all twitterpated. (oh geez did I really just do that :))
Let me just start by saying that I have trouble writing out and communicating my entire thought process when analyzing the market. I am not using any tools that haven’t been shared by Michael, but when I use certain tools, and what weight I give to each are highly circumstantial, and not even I myself know exactly what tools will be put to use on any given trading day.
Basically I see all of Michael’s tools and concepts as ingredients. Like cooking… one person can take those ingredients and put them together in a way that turns into something delicious… and still others will make something that is a disaster!
So if I had any advice for traders looking to make sense of the tools, it would be to just put in the time. Chart time. Get in there and analyze the markets, in hindsight if neccessary. Look back and see how you COULD have applied the tools. And of course try to apply them in real time. If you take a trade, and say “I got confluence of X, Y, and Z, but the trade still lost, what did I do wrong?” you aren’t approaching this with the right mindset. There is no right or wrong. Nobody can tell you that. You have to put in the time to gain the experience, and the INTUITION, to know yourself what is right and wrong… for YOU.
Michael isn’t telling you “This is how you make money”. It does seem like it, but there’s a subtle difference. He’s actually saying “This is how I make money” and he’s doing his best to communicate that process to us.
You have to go beyond Applying the tools and concepts… you have to internalize them.
As a real-world and honest example, I’ll share with you guys my “trading checklist” that encompasses the majority of my decision making process. There are patterns (like candle prints) that I also utilize but don’t include on here simply because there are purely visual concepts, and writing them out doesn’t benefit my trading.
In months of reading comments on the threads, I think this is one of the better comments (of this type) I’ve read. Really well said Ake. Comments like this are why there is a thread for us to all banter back and forth about.
I agree with you 100% AK… Everyone really needs to come to there own conclusion as to what their best fit trading style is… I think I will forever be stylistically different from the next guy as to how I apply the tools presented here. My personal preference is to start with the simplistic approach and master it before adding a new layer of complexity. The way my brain is wired it doesn’t work for me any other way… “Success always follow those that persevere but hardly ever follows those that lack will”. I don’t know if anyone ever said this but it sounds like a cool motivational quote.
Cheers
It’s volume distribution in each bar. I use marketdelta terminal to trade Euro futures on CME.
There is more transparency on central exchanges like CME, NYSE, NYMEX etc., because of real volume.
check how easily forex ‘brokers’ manipulate Манипуляции ДЦ в МТ4, кухня - YouTube
“Labor Omnia Vicit” meaning “Work Conquers Everything” or, “Perseverence Brings Success”
It was my old school moto and something I have always remembered.
