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

In your dreams guys…in your dreams :stuck_out_tongue:

Well, it beats dreaming about support and resistance!:smiley:

Well, you started it :smiley:

That’s it, now I can get to it. For some reason the site wouldn’t come up for me for a while.

Thanks again ICT :smiley:

P.S. I’ll try to get a bigger picture so you can see it better :stuck_out_tongue:


Thanks for that lol, I was on my way out the door when I posted that.

Another successful trade, short GBPUSD @ 1.55700 thanks ICT.

Now some questions.

You mentioned you take partial profits at around +30, move stop to BE, and continue aiming for the ultimate profit objective. Is the +30 variable, or is it always at +30?

Also, which pairs do you trade? I see you trade GBPUSD often and I also saw that you’ve trade USDJPY. Are there any others you like to trade?

Kudos on your posted trade results… way to go! How did you select the trades?

The Cable [GBP/USD] is my personal focus pair… I monitor the Fiber as well [EUR/USD]… I have been known to trade any pair with solid swing setups… but I mainly stick to my eurozone pairs… helps narrow the focus and I’m very comfortable with the characteristics these two exhibit.

I look to take something at +30 pips always… what % is subjective and there is no real cut and dry way of explaining that… but I atleast take 30% minimum off at +30 pips… then breakeven stop when its prudent… I might take +30 off in percentage of the total position… but still have a negative stop on the remaining position… its all going to be explained in the later videos… I know that phrase again. lol :wink:

GLGT!

Most of the trades are taken near the daily pivot combined with a daily fib drawn from the high to low. Yesterdays trade I believe was taken at the convergence of the previous months low, daily pivot, and the .382 fib. retracement drawn from high to low of the previous day. The last few days I’ve seen convergence of the daily fibs and the daily pivot point so I’ve been taken shorts from those areas.

outstanding… Total pips gained in those trades?

GLGT

254.4 pips combined including last night/today’s trade

How does this compare to your routine pip returns? Is this an average or below or higher than your normal trade results?

Was using the tools and methods difficult for you and did it require much time to determine what signals you will take… more importantly did you see it setting up before, thus allowing you to “anticipate” the setups?

Very, very good trading again I’m stoked! :cool:

GLGT

This is above aver pip returns and definitely better trade results.
The tools/methods are really easy to use and each trade was set with a pending order :p. Once the new pivots/fibs were calculated I was able to set pending orders. Can’t get much easier than that, just finished setting my pending order on GU again. A little iffy about this trade as it is a pending long in a recent downtrend.

Buy limit was missed by literally a pip or 2 lol. Would’ve been close to taking partial profits already too. Maybe it will retest the area and trigger my order?

do you think that’s a head and shoulders pattern formed on the H1 chart and that GU might potentially reverse?

Nope, havnt even touched that 1h. Using the 5m,15m and daily. The risk is under 1% so not like I’m losing much if the trade doesn’t go as planned and it is a valid set up. We’ll see what happens.

Trade wasn’t triggered but would have hit +30 and stop moved to BE so I’m just canceling the order. Next time I’ll remember to add an extra pip lol.

Was right about retesting the support but had already deleted the buy limit. Looks like it would have hit +30, close out half, and been stopped out at BE before hitting the ultimate profit objective. Oh well, more trades coming up today/tomorrow:D

Bagged a couple today (01/12) on GBPUSD.

Short @ 1.5646 (10.20 GMT). Previous high (two days ago) + near institutional 1.5650. Wasn’t too sure about this one as no other s/r indications. Closed at 40 pip gain when price started bouncing around previous day’s high.

Then a beaut… Long @ 1.55520 (15:30 GMT). Convergence of: daily pivot + Fib 38.2 off yesterday’s low to high + institutional level. Bounced to a 70 pip gain.

Like you, I set the trades up with a pending order once the s/r levels were set on the chart and I could see the price moving towards the anticipated level.

Many thanks for posting your trade info. It’s really helped me focus on looking for areas of confluence.

And thanks again ICT :slight_smile:

Ha, you took the exact same long I was looking to take only mine was missed by nearly a pip… at least some one got it:p

Edit:

What did you set your buy limit at? Mine was at 1.55538 and was untriggered due to the spread

Oooh had that happen. Had a trade on last week missed t/p by 0.2 pips, retraced and hit s/l. I was away from the damn PC at the time.

My buy limit was actually set at 1.55520, triggered at 15:33 GMT by a low of 1.55497. Lucky. Guess you set your order after this?

Same long here :), it’s great to see we’re starting to have similar views on the pair with ICT concepts. I don’t have the nerve to set pending orders yet though. :rolleyes:

Nah, once I saw price racing away from my entry I just canceled the order. It retested my entry 2 times throughout the day but I had already canceled the order. Now I know to move my entry about 1 pip more lol