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

[apmonster]

Hi Alan,

      Thanks for the prompt reply. To be frank I'm still kinda confuse when people refer to market flow on a certain time frame, do u guys determine it by comparing the most recent fractal and the previous fractal that was in the same direction (for eg, recent fractal is low but the previous fractal low was a lower-low, thus market is bullish) or do u guys compare the latest fractal with the previous one (for eg, latest fractal is low, previous fractal is high, thus market flow is going down/bearish)

Regards,
p0w

Hey p0w,
Check this video out: YouTube - Top_Down_Analysis.avi
Explanation starts at 7:36.

If that doesn’t clear things up, let me know.

[Manta]

Hi Alan,

      Thanks for the prompt reply. To be frank I'm still kinda confuse when people refer to market flow on a certain time frame, do u guys determine it by comparing the most recent fractal and the previous fractal that was in the same direction (for eg, recent fractal is low but the previous fractal low was a lower-low, thus market is bullish) or do u guys compare the latest fractal with the previous one (for eg, latest fractal is low, previous fractal is high, thus market flow is going down/bearish)

Regards,
p0w

Market flow is defined (hope it is the same as ICT ) as the most recent broken fractal. Look only at the most recent upper and lower fractal. If the price breaks this level, then market flow is either long or short.

Hope it is clear. My English is worse and worse…

[p0w3rL3s5]

Hi Alan,

       Thanks lots for the video, it really served as a reminder that i should be revisiting the basic videos more often as i tend to forget them easily once i know deeper stuff.

On a side note, as i was looking at the fractals on the chart, i saw these:

h-t-t-p://img846.imageshack.us/i/031611lo.gif/

Sell Zone and market flow was down. I didn’t take the trade, but its really exciting to see one of ICT’s concept panning out real-time. It sorta serve as a mini confidence booster

Regards,
p0w

P.S Thats still a good 60 pips for anyone who traded that set-up even if price do bounce up after that.

[Manta]

Hi p0w3rL3s5,

Don’t worry about being slow, it’s not a race. I’ve been at this for years and am still a complete newbie

Regarding my fiber short, indeed it was in the buy zone, but given that the market flow on the 4 hour timeframe was down, I was content to take a less than optimal setup. A big reason for this was the fairly convincing bounce from the central pivot earlier during asian trade, and the fact that we had retraced back “close enough” to the CPP (in my judgement).

ICT has mentioned in an earlier post, that we are best advised to trade the S/R levels of the pivot, rather than the central pivot itself. This is good advice, and indeed I find my best trades come at those levels. However, I will - from time to time - take less than optimal setups if I feel other factors are in favour strongly enough.

Basically, the long and short of it is: This was not a “textbook” ICT setup, but it happened to pay off for me today.
Hope that helps mate

Good point apmonster, this is not a race. This thread and ICT’s work is really cool, I just hope that it stays as it is and not become poor competition who is better and smarter trader and man, like I saw in some other forums before.

I’m trying to trade FX really intensively for about 3.5 years now and more I know about this market, more I feel like newbie The last year was my first profitable year, but still have some problems with consistency.

[ClarkFX]

Hey ICT,
Just wanted to say thanks for all your lessons, it’s really helped me out a lot in my trading =) And may have saved myself years of hard work, and money.

I’m really excited about your London Close plan! I don’t see very many opportunities during London Close, so I’m very curious as to what you have planned.

May I ask when the London Close lessons will be ready and released?

Regards,
Clark.

[Manta]

I could not find any good kill zone indi, so decided to write another small tool based on ICT concepts. Just simple indi which shows small rectangles (similar like in ICT’s videos) during opening hours of London and NY session and during closing hours of London.

Just want to make sure that I have the right time windows (kill zones):

London: Open 2am-4am EST, Close 10.30am - 12.30 EST
NY: Open 8.30am - 10.30am EST, Close 3pm - 5pm EST

Am I right?

[Aarnog]

Well that’s just rude.

I took the OTE at MR1 on the GU today during London open. Entry at 1.6108 (roughly). Stop loss was at 1.6130 (a little bit higher to include spread), which was 10 pips past the recent swing high of 1.6120.

Price traded up to 1.61303 before trading down, JUST taking out my stop.

There is only one time when being stopped out is frustrating - and it is this exact scenario.

[Hordane]

I could not find any good kill zone indi, so decided to write another small tool based on ICT concepts. Just simple indi which shows small rectangles (similar like in ICT’s videos) during opening hours of London and NY session and during closing hours of London.

Just want to make sure that I have the right time windows (kill zones):

London: Open 2am-4am EST, Close 10.30am - 12.30 EST
NY: Open 8.30am - 10.30am EST, Close 3pm - 5pm EST

Am I right?

Yes and No, currency EST is only 4 hrs behind GMT until the 27th of this month when GMT returns to daylight time and the time difference is again 5 hrs.

[Manta]

Yes and No, currency EST is only 4 hrs behind GMT until the 27th of this month when GMT returns to daylight time and the time difference is again 5 hrs.

Thanks for confirmation. Yeah, I know that about this week time difference. Just wasn’t really sure whether it was exactly like this: 1 hour before - opening time - 1 hour after.

[Hordane]

Thanks for confirmation. Yeah, I know that about this week time difference. Just wasn’t really sure whether it was exactly like this: 1 hour before - opening time - 1 hour after.

Ah, yes generally it is the time before and after the opening. Not necessarily 1 hr exactly but typically it is the 1hr before and after that setups occur but you can watch longer. Like today a EU short signal at 8am GMT (1hr after London open) and again at 13:30 (2 hrs after NY open) again at 16:30 and 17:30 which is the London close (these two are sell in buy zone though).

[ClarkFX]

Just a quick suggestion Manta, could you do it so could have a built in period separator to separate days? My broker is GMT time and it becomes a hassle for separating by NY Midnights.

Also the ability to disable certain “kill zones” would be really nice since I only monitor London Open and New York Open. It would be really great! I hope I’m not asking too much.

Regards,
Clark.

[system]

The JPY is melting down.

-1.7% on avg. incl. JPY Crosses in 15 minutes.

The Aussie Dollar is going down with it.

[Hordane]

Just wanted to put this out there for trade ideas. GJ is again retesting last week’s low and is only a few pips above it. I don’t know if this is a risk-off move from Japan, but it could be a significant point to find a long entry. Any thoughts

[flabberdous]

Hey Manta,

You can try this attachment (Kill Zones ex4, mq4)

Works for me.

You can adjust the time windows and colors to whatever you like.

~Brian

[system]

Just wanted to put this out there for trade ideas. GJ is again retesting last week’s low and is only a few pips above it. I don’t know if this is a risk-off move from Japan, but it could be a significant point to find a long entry. Any thoughts

Watch GBPUSD…if GBPJPY starts moving UP…GBPUSD has to follow OR lead.

That means GBP is the driver and the move UP is genuine.

[system]

Hey ICT,
Just wanted to say thanks for all your lessons, it’s really helped me out a lot in my trading =) And may have saved myself years of hard work, and money.

I’m really excited about your London Close plan! I don’t see very many opportunities during London Close, so I’m very curious as to what you have planned.

May I ask when the London Close lessons will be ready and released?

Regards,
Clark.

Same here! I can’t trade anymore during london so I would love to see more N.Y. open , London Close, and any Asian session tips and tricks too!!!

[akeakamai]

okay here’s my update. Done for the week with +37 pips banked. thanks for chatroom tips ICT, I’ve been using the dual GMTpivot/new york pivot perspective and it really feels like I have an edge now. I got 2 asian session scalps this week based on GMT pivots, and it’s what put me over my 20 pips! Great stuff all around.

Next week, I might not take any trades because the daylight savings has pushed london open ahead one hour and it’s screwing up my sleep schedule. The asian scalps were nice, but I’d still like my focus to be on london open swings.

[MCAWally]

okay here’s my update. Done for the week with +37 pips banked. thanks for chatroom tips ICT, I’ve been using the dual GMTpivot/new york pivot perspective and it really feels like I have an edge now. I got 2 asian session scalps this week based on GMT pivots, and it’s what put me over my 20 pips! Great stuff all around.

Next week, I might not take any trades because the daylight savings has pushed london open ahead one hour and it’s screwing up my sleep schedule. The asian scalps were nice, but I’d still like my focus to be on london open swings.

Do you mean London midnight/NY midnight?

[akeakamai]

Gmt 00:00
est 00:00

[Alishijo]

okay here’s my update. Done for the week with +37 pips banked. thanks for chatroom tips ICT, I’ve been using the dual GMTpivot/new york pivot perspective and it really feels like I have an edge now. I got 2 asian session scalps this week based on GMT pivots, and it’s what put me over my 20 pips! Great stuff all around.

Did you write up those trades on previous pages? I have been away from the forum this last week and not trading due to developments here in Japan, but I’d like to see your entries and exits. GMT pivots, but trading off tight asian resistance and support channels? Early asian session entry?

Regards