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

Hi ICT,

      Awesome trade! Just checking, are those GMT Pivots u are using? If it is, is there any particular reason i might have missed to have used it instead of the usual EST Midnight one?

Regards,
p0w

Snap!!

My reasoning was daily frac high broken, 4H price was holding above 1.4000 indicating higher run, higher than usual Asia range (reaching down to buy zone was proberbly too far away) ,GMT MR1 + 38% fib + s&r highs.

Unfortunately after I took 30pips off the cable drop spooked me and I moved my stop 10 pips above entry, if I had left SL at -30 I would have got the same as ICT but still walked away +40 :).

Got to learn to disengage brain after entry.

Wally

P.S. Entry was a limit order set an hour before London open thatā€™s why I was watching GMT pivots and fiber has been respecting gmt pivots in Asia quite well the last few weeks.

Copy cat. ICT can you post where you exited? I wanna see if Iā€™m exiting correctly. I notice that some of my trades, despite being winners, only yield 1.5-2% profit while risking 1.5% and some yield 2-3%. After losing 1 trade (-1.5%) this week and winning one trade (+1.5%) I should be net .5-1.5% for the week but Iā€™m only at BE. Cant complain with BE though lol

Also my pivots are a little off from yours, what settings are you using?

Hey everyone. Well I was +3o pips for last week. I got to my goal on tuesday and watched the rest of the week as more great trade set ups formed but i didnā€™t take any of them ( i wrote one down to see if it would do what i thought, does that count?). But I am happy i got my 30 pips early on and was able to hang on to them by just staying flat :smiley:

I hope everyone has a great weekend

Mike

Hello ICT, Great Stuff!!
I have hope for further explaination of ā€˜dealing rangeā€¦ā€™ I have pics showing shaded areas on 2 TFā€™s I would call ranges. the 5980 level is obvious but the 6100 Iā€™m at a loss. It appears to me your 5980/6100 clips the bottom of the range.

Not sure if I am yet authorized to post but will try, and add broken links just in case (hehe).
The first is a longer view, next is last couple of weeks.
http://i1116.photobucket (dot) com/albums/k568/NeedyNotshy/gu-d1range.jpg
http://i1116.photobucket (dot) com/albums/k568/NeedyNotshy/gu-range2.jpg


I very much appreciate any comment :slight_smile:

Itā€™s saturday and itā€™s time for an accountability check!

I want to start getting at the levels of accountability that Iā€™d be facing if I were trading for a large investment bank or something like that, and that involves making public the actual $gains/losses on the account. I want to focus on professionalism and I think this will help me.

So hereā€™s the last 3 weeks of trading I did, and the real account values, as well as pip/dollar gains. The pip count is on a standardized basis of 30 pips = 1% of my account balance at weekā€™s open.


assuming I execute my plan properly of not trading next week, this will show a 4-week example of ā€œoverall consistencyā€ without having to win EVERY week. This is a huge breakthrough for me in my level of consistency. Iā€™m seeing that even though Iā€™m not coming out with gains every single week, Iā€™m still averaging good pip counts. For those 4 weeks, the average is 25pips! I have faltered many times in those 3 weeks, but my focus was ALWAYS on trying to improve my technique with the methods taught by ICT.

so even if you are new like me, if you really do your best to stay consistent with these methods, you should see a very tangible form of success right in front of your eyes.

and I really hope the folks here understand that Iā€™m doing this to help me and potentially help someone else with their accountability. If I lose 500 pips one week, Iā€™ll be here to share that, this isnā€™t about ego, itā€™s more about getting rid of it.

last but not least, THANKS ICT, never couldā€™ve battened down these levels of consistency without your help :slight_smile:

In regards to my previous post, a couple back, I have narrowed my focus and show a chart that does more closely fit the ā€˜dealing rangeā€™ you suggested. It is a M15 chart showing just the period from about when you made the post to about a week prior. After dropping into the range, price made one major excursion outside of it. No doubt this is more relevant to our purposes just now. I may have answered my own questionā€¦

A bonus of that one excursion is that the level reached confirmed a prior S/R level, at an institutional level, and was respected later on. :slight_smile:

Hi eveybody I just want to tell everybody I have had really good success with Euro these two weeks past. I have 60 pips pne week and 76 this week. My demo is up 8 % in this month. That is the good news the great news is I only had one loser in the hole bunch. ha ha yes I did it! Thank you guys this is so good

Sorry if been covered using ICT Pivot macro i am uk based and my broker is gmt +1 do i need to change the shift and or mode to get the pivots to calculate correctly

cheers mark

Hey Mark,
I have a lot trouble getting this pivot indicator to work.
The Only way I can get the correct daily pivots is to change EST to GMT and then shift 12 (not sure why 12 works but it seems to).

Here are the ones I use SDX-TzPivots.mq4 called SDX-TzPivots change DestTimeZone" to -6.
And another Pivot Points - Daily (Shifted).mq4 called Pivot Points - Daily (Shifted) change ā€œShiftHrsā€ to -6.
Change both of the settings to -1 to give you London midnight or GMT time pivots.

Also hereā€™s a handy world clock P4L Clock.mq4.

Wally
p.s. Jacks right it is -5 now.

I thought that because EST is DST the difference bw GMT and EST is -4 and another hour because the broker is GMT +1, so the shift in hours is -5 rather than - 6 to get midnight to midnight EST. Could be wrong thoā€™, have been before. Sorry if I have confused things.

Hi All
Thought I would introduce myself as a one-time lurker who has been watching this thread for a while.Iā€™ve been sort of trading for 3 years now and found the material that ICT has introduced to be a revelation.I now feel far more confident in my choice of trades and ā€˜readingā€™ the price action.
So thanks ICT for all your efforts and ā€˜more power to your elbow sirā€™.

Hi Mark
I am also in the UK and my broker is also on GMT+1 (ie Western Europe).
I use both ICT Pivot Macro and SDX-TzPivots - the latter because it gives you the mid pivots, so saves having to use fibs on the ICT Pivot to find the mid points.
Bear in mind that time zones are a bit odd at the moment because EST went on to DST a week ago,while UK and Europe donā€™t go to DST until next Sunday.
So for this coming week I have the following settings:
ICT Pivot Macro - ShiftHours = -5 ā€¦and from next Sunday will be -6

SDX-TzPivots - Local Timezone = 1 (ie Trading platform time which is always 1 hour ahead of UK)
- Dest Timezone = -4 ā€¦and from next Sunday will be -5

If you are at all unsure the safest thing to do is calculate the pivots manually using your charts and a pivot calculator.
Hope that helps.

Hi Dess,iā€™m in the same boat so thanks for the post,Iā€™m a little behind you guys in that iā€™ve been trying to load up the"pivot daily macro indicator"onto the mt4 platform,iā€™ve converted it but canā€™t find the folder to paste it into or iā€™m going about it completely the wrong way!!Anyone a walk through would be great.
Many thanks
Jeff

folder: Program files/metatrader/experts/indicators

and restart Metatrader.

Then in Metatrader Navigator window click on Custom indicators, find the indi and drag it to the chart.

Cable daily flows are bullish.
Market Flow Bullish.
Monitored 1.62 Figure - 1.6180 for setup.
Asian Low retested OTE utilized.
Long 1.6210 trailed stop ultratight at 1.6275 triggered - Net Gain 65 pips.

Scalp Review- Previous Day [Friday] High was retested for a small 10-15 pip bounce for the action hounds. ADR 1.6309 unfullfilled at the time of this postā€¦ still likely on the day.

Sidelined until London Open.

Nice start to a fresh Forex Weekā€¦ Be careful out there.

GLGT :57:

~

Looked for a long opportunity on the Cable this morning during London Open, couldnā€™t find an OTE near the CPP so I am sidelined until next London Open. Looks like todayā€™s going to be a smaller ranged dayā€¦ Hopefully tomorow we can get some more significant moves.

Regards,
Clark.

Hi ICT,

Should it be normal that my ADR is reading 1.6370, a full 60 pips more than yours, at London close? I can understand why all of my ADRs are higher than usual, given the big swings last week, but it worries me that something might be out of whack with my indy. Can you advise?

Best regards

Hey Alishijo,
What are your current settings for the ADR?

Hey Clark,

Thanks for any help you can give. I am using default settingsā€¦current readings are 1.6369 (High) and 1.6128 (Low)