Ok guys I am going to show yet another trade using these concepts. The trade I was in last week since the gap was pretty big coming into this weeks open. Knowing ICT and experience gaps like to close but not guaranteed I set my stop at 50% of the gap coming into the open. That way If the gap closed I got out at a decent price and if it didnt I survived to ride it out. Well it closed so I got stopped +120 pips. Not bad but have had better. There was 2 reasons for this tightening of my stop. 1 gap like to close and since it was a wide gap why ride it out just get stopped and look for new setup. 2 if the gap closed it sets up OTE from friday so why not get stopped and not take the draw down and just get in then. Well again stop closed and OTE set up. Not only that daily trinity sell zone almost a pivot and my favorite pin bar setup. I will show the trade since a lot of folks seem to think its a gamble to have stops as small as mine using these concepts I will have to show that there wrong again and you can do it in a bull market (shorting). So off of whats above I will post some charts. Again trade from last week got stopped. To do so had to set me up in OTE for a short.
Here is the 4hr where my trade was based on my trading plattform.
More to verify I had a little bigger than normal stop since it was off the 4 hr (20 pips). Because of that I went 2 lots. This is where me and ICT differ a little he states take some profit at 25 pips I use a 1:1 ratio. Meaning I entered 2 lots at 20 pip stop. So I am looking for 40 pips to cash 1 lot and set stop to BE (now dont get me wrong a little wider I will just set stop to BE). Let the other run till stopped out.
As you can see in the sell portion of the daily trinity mid pivot and OTE along with the 50% mark of the pin bar on the 4hr (as you can see I was late as always and it went back up higher but failed to break the pin bar happens but I lived). There it is. Now keep in mind I had a strat comming into this thread and was profitable so I will not fix whats not broke however ICT concepts work> they have fine tuned my strat in ways I never expected coming into this thread. Thats what I want to say here and have said before. I see you al using the same tools over and over every day. I am here to say he gave you so many more tools than that. Use them all. Its up to you to break out the tools you need when and where. Thats why he has tried to tone down you alls trades. All you need is 1 a week. Look at mine if I get stoped what does it matter. If I did before what does it matter. Hell I could quit trading for the rest of the year (almost) and hit all targets. Keep in mind guys this is one pair one direction. Simple easy and works. Dpes not matter what markets want to do ICT gave you the tools to do what you do no matter what. Last year I went long and short this year I read what ever post he has with happy faces on it saying that it does not matter what the market does. I am here to tell you it is one of the first videos but is true from the very beginning. Its all how you look at the ammo you have been given.
Times have not been good recently especially for the Euro since it came under heavy selling pressure following the reports from the recent Elections in the Greece.:o
Trade finally got stopped at +152 pips out for the rest of the week. Again 1 shot 1 kill. Another great week in the books. I might look for another short but I dont quite thinks is done going south on this push and will have to ride out the bounce off the 1.0000 figure. Highly doubt price will smash it first try. I will wait and try to break it next week. Happy trading to all. Thats a total of 270 pips on the week for me with 30 pips total of risk. 9:1 R:R looks good to me.
I still havent figured out this. I try to follow the tools but i keep getting tripped out regardless what tool i use.
It’s getting to the point I use one tool and then the other one works and I get tripped out, then I use the previous tool and the others wonk me out.
Monday i got stopped out following market flows on GBP/USD. Now today i got stopped out following stochastics with traders trinity and pivot points when i decided to go long. This is very frustrating and Im not sure what im doing wrong. Im looking at the charts now to see if for sells but there hasnt been any asian range broken either for such precipitous moves.
What am i doing wrong?
EDIT: Disregard my whining, in the end, it’s my fault, not the market’s nor tools. I just need to apply better and learn more soundly when to use what.
A lot of tools & concepts were presented here and while I found every single one useful, I have a chosen only a few for my own trading. What has helped me, was writing a summary of all tools & concepts and picking the ones that I felt will be most useful for me. Go through them and ask yourself - why should I use it? How should I use it? When should I use it? Do your analysis so that you feel comfortable with the tools and exactly know what you are looking for when you enter the market.
Example:
Bias - H4 Market Flow
Buy Zone - Below Central Pivot Point
Sell Zone - Above CentralPivot Point
Entry - OTE (LO Killzone, NYO Killzone, LC Killzone)
Supporting: SMT Divergence, Accumulation/Distribution Indicator Divergence
Again, that is just an example, you have to choose what fits yourself the best.
Also, if you have followed your own rules and got stopped out, you should take the day off or wait for new opportunities following your trading plan and not switch bias just because you lost.
Yeah, im just torn on wanting to be right and so and I have lots of inner trade demons to get rid off. I think im thankful for these losses to show what Im doing wrong and it’s time to go and refresh the material again before I do something more stupid than what I just did today out of rage.
Look at ICT’s search and destroy video. He recently put one on live stream. Mark the Stop levels as he does in that video. Then watch price. It has given me a very clear picture where price is trying to go. This method kept me out of going long this morning at the 6100 level on the cable. I could see price trying to reach for stops resting below 60748. Look what happened to price at that level:) I went long at that level grabbed 40 pips and got out because I was trading against the trend. This is in my opinion one of the greatest lessons I am learning from ICT.
I got to agree with FXTC. I think your issue lies in trying everything randomly (so to speak I am sure its not just radom). My advise would be to figure out what tools to like best and stick with them. Master them and then try to pick up new tools. Trying to use them all every time is over whelming so remeber to have to crawl before you walk. You have to walk before you can run. Baby steps at your own pace.