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

How are you reading the seasonal index?

I could have sworn there was a video that solely covered market profiles. If the title changed can someone please point me in the right direction. Thank you.

There’s a video in the archive about Market Profiles (Consolidation Range Profile, Breakout - Valid & False Profile, Trending Profile, Reversal Profile), but it is not availaible anymore on the 1st page. Perhaps there will be something in the Trading Plan series about it, I think this is the reason ICT hasn’t put certain old videos online again, as it will be covered in the upcoming series. :slight_smile:

Hi ICT!

I just wanted to take this time out to thank you, everything in this thread has greatly impacted my trading (in a positive way of course).

I’m amazed at the selflessness of the act, you could have easily decided to keep all this information for yourself or sell it; but yet it is here, for free. And I thank you for that :slight_smile:

As for the second purpose of this post, I wanted to ask you a couple of questions…

[ul]
[li] Are you still using the MT4 platform? There are many brokers already offering the MT5, which in my opinion looks and feels a little more competent. I’m asking this, because it would be great to have the ICT indicators for MT5 aswell :slight_smile:
[/li]

[li] Which broker do you use? Just out of curiosity.
[/li][/ul]

Again, many thanks for your contributions and I’m looking forward for your Trading Plan series.

[I]Benji[/I]

I believe that ICT has at least two different broker accounts. I know he uses GFT (not as his main account though) which allows (in Dealbook 360) a secondary currency overlay, that makes it a little easier to see SMT divergence. I’ve often wondered what he uses as his main account, and if his main account is for Spot or futures. I’ve assumed he doesn’t mention his primary broker to avoid the appearance of endorsing anyone, which could create headaches.

Interesting article on forex4noobs site, they surveyed 400 traders - profitable traders reported no. of hours of trading per day: turns out that the sweet spot is 3 hours or less per day at 38% and 2 hours or less 2nd at 25%
And guess what pairs most successful traders trade? - yep no.1 fiber, no.2 cable (no.3 usd/jpy, eur/jpy = 4 & usd/cad no. 5)
A whopping 93% of successful traders have a trading plan and 84% keep a journal.
In their time frame anaylsis the most losers are those that trade the 5 min charts - the higher tf traders are more profitable.

Women are slightly better than men - it seems that they are more likely to have a money management plan.

Aside from the gender aspect of the results there are no surprises for ICT students :slight_smile:

what Indicstor tells us this, On fxcm there’s an indicator for this but I cant remember.

Hello Everyone,

I am currently working through the ICT Video Course and today I focused on SMT Divergence.

I was looking at the correlated Pair SMT of Fiber and Cable. Generally I try to use new knowledge to try to predict the future instead of backtesting.

Is this a legitimate SMT Divergence in the screenshot I posted? If so, I would assume that both pairs, according to the SMT Divergence- Concept are likely to trade lower. Is that correct?

Any comments and corrections are more than welcome!

Greetings,

regulus


I’m no pro at divergence but if you look at the highs in your picture I think you can see it pretty clearly right before the strong move down. Euro was unable to make higher highs. When this happens in an area of strong resistance it confirms a move down.

Since It is a downward trend I think you are suposed to by the one making a lower -low… im not sure though…

you have to be very careful though…because on your diagram…
lets just focus on the last section you highlighted…
with regard to major peaks on both graphs…you would see that price on euro 2nd peak is higher thatn 1st peak
and the same is seen on the pound…( NO DIVERGENCE)

the third major peak on the euro is lower than the second euro peak
but the third major peak on the pound is higher than the second peak on the pound…(SO THERE IS DIVERGENCE)
if you had sold at this stage you would probably have lost money.

the 4th major peak on the euro is lower than the third major peak
the 4 th major peak on the pound is much higher than the thrid major peak on the pound (SO THERE IS DIVERGENCE)
if you had sold any of the pairs at this point you would have made money.

the thing is it takes more than just divergence to understand what is going on …
you can also look for divergence against other index’s like the s & P 500 and others.
i dont really know much about these things apart from the fact that they exist…

divergence is just another verification and you need at least 3 before putting your money on

plus up until this point both pairs are in a down trend…and so it wasnt hard to pick the right entry.
but the big question is …has the euro bottomed…
personally i think it has …i think it may go a little bit lower but i think we are on for a major upswing very soon.

This is how I have MT4 setup for currency correlations. I want to set something like this up for Bonds, Stocks, and Commodities but MT4 doesn’t have the feeds for them. Can anyone lead me to a good platform that will chart these market instruments like this? Thanks

http://i1203.photobucket.com/albums/bb394/techpro89/6-2-201211-27-07PM.png


…will hit [B]One Million Views[/B] (a very round number, and an all-time Babypips record) [B]by 1800 GMT, Friday, June 8.[/B]

And, as always, I’m betting 100 Trillion Dollars that my prediction is correct.

(Zimbabwean dollars, in case you’re wondering.)

Alpari UK offers on their mt4 more than just FX instruments, all major stock indexes (but not usdx), the biggest stocks world wide, all commodities, etc… but not sure about bonds. Had it installed about 5-6 months ago, so information is not that fresh, but you might want to check 'em out.

:41:

I’ve used AvaFx and it has most of securities mentioned by ICT’s outline on the other thread (minus CRB index). Although i’m not sure about the treasures bond/notes will be useful ( i mostly just use the major market averages ).

View image: Capture

What you highlited there on your image is a smt BULLISH divergence: one makes lower lows while the other is making higher lows.

Well spotted vladul.

Regulus, just as vladul pointed out, you want to be looking for bearish divergence while the trend is going down. On the other hand I do remember ICT demonstrating how to look for the opposite divergence to call major tops and bottoms… but for a start, divergence in the trend’s direction should serve you well.

Cheerz

I didn’t say that :slight_smile:
Tbh, i dont use SMT that much, but if i did, i’d rather look (on higher TF) for bearish divergence in an uptrend and bullish divergence in a downtrend, which would signal a (major) reversal.

Best ICT,

Words escape me, but all I have is THANK YOU.

After watching “Power of Three” and “Trader’s Trinity” it feels like I’ve just won the jackpot. So many paradigm shifts happened at once, I’m still in a state of aftershock.

My eyes have been opened - again. I share with all of you a life-defining moment. It only happened after the 3rd time watching the videos but each at his own pace, eh? :wink:

God bless!!!
Albert

Is there any chance someone can reup this anywhere but the above-mentioned site?

Thanks in advance,

Mike