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

Mine is crashing too, some problem with Java

Iā€™m begining to take this personal lol :wink:

How often do you guys meet on the chat room? Iā€™d like to attend :wink:

I second that, sir.

Hello - for the last few days ICT has hosted a ā€œWebinarā€ around the time of the NY Open - just log into the ICT chat room around NY open time - (dont know what timezone youā€™re in). Worth a visit definitely. cheers.

Masā€¦Scroll down to post #540 on the following link. This is the post from last year where ICT outlines the Smart Money Tool.

http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-54.html#post180327

Just entered short on the Cable, for a LC trade. Iā€™ll just C&P my journal entry here to save me some time. =)

Date: Thursday, April 21, 2011
Time (GMT): 15:18
Live Account

Pre-Trade:
Currency Pair: GBP/USD

Market Bias (Long Term): Long bias, price broke through 1.6450 during London Open session by over 120pips. USDX is still bearish, slight divergence on the bond yields, COT is still bearish at this time (but is not updated until Friday). Open interest dropped signalling buying power.
Market Flow (Daily, 4H, 1H): Long on all three timeframes
Position Taken (Long/Short): Short
Trade Style (Swing, Scalp, etc): London Close Scalp

Risked Percentage (%): 1%
Lot Size: 0.07 mini lots
Stop Loss (in pips): 30 pips
Take Profit (in pips): 60 pips

Entry Price: 1.6582

Notes & Comments:
Took this trade as a general London Close Scalp trade. Cable was past ADR High of 1.64889 (over by 108 pips at high). A pullback seemed likely, took fib of a recent downtrend and entered on the 79% retracement level. Stop loss was placed 10 pips above the high of the day, also the high in over a year.

Entry Screenshot:

Will keep you posted as to the results. =) Was also monitoring EUR/GBP as a correlated pair and it seems to bounced pretty well from the 79% retracement level as well.

Regards,
Clark.

I took the same trade with target 1.6455 (my entry was 6580)

Wow, thatā€™s a large TP, Iā€™m not sure if the LC has the momentum to push it that far, but Iā€™m hoping for you/us!
I set my SL at +30pips. Price seems to have found some support at the R2 level, hoping it breaks that.
If price does reach my 60 pip goal, Iā€™ll most likely set a 10pip trailing stop to see how far I can ride this.

Regards,
Clark.

Post Trade:
Exit Date: Thursday, April 21, 2011
Exit Time: 18:53
Closing Price: 1.6517
[B]+65 Pips[/B]

Notes & Comments:
Trade went smoothly in the beginning, as it reached the New York R2 level, it started to stall, eventually broke through. When I was up 45 pips into the trade, I put my stop loss for breakeven, later changed it to +30 pips. With 3 pipettes from reaching my TP, I decided to remove the TP and let the trade run with a 10 pip trailing stop loss. Seeing a pin bar formation, I tightened my stop by another 5 pips. Price hit SL and netting 65 pips. Good trade overall. 2.16:1 reward to risk ratio. Was a good trade overall.

Closing Screenshot:

Regards,
Clark.

Nicely doneā€¦ handsomely indeed! :wink:

Nice trade. Took the same one. Entry at 1.6576, exit at 1.6510, just below the reaction low and just shy of the 1.27 extension.

Pretty bummed I missed all the action in the chat room the last couple days. Been working 12 hour shifts so havenā€™t been able to trade at all this week. This will most likely be my one and only trade. 2.25R gained on the account.

My trading week is over, just to recap, I took 3 trades - all winners - this week. This is somewhat of a rarity I must say though, it hasnā€™t happened. I took two LC trades (+18 pips, +65 pips), and one LO trade (+60 pips). Overall, I made 143 pips this week. And I must say, it makes me feel that much closer to reaching a point of consistency that I can grow my account. =)

Regards,
Clark.

I do believe I have a conferencing software that can accomplish what I hoped forā€¦ 250 people limit per session and with audioā€¦ I do not know what the quality is on the screen resolution and audioā€¦ but Iā€™d like to test it at 7pm EST if anyone can make it

7pm EST today? So in 43 minutes?
Count me in =)

AnyMeeting.com/ICTForex1 Guest Pin: 3450662

Itā€™s just giving me a 404 Error page.

try the edited link above

Nope, still doesnā€™t work.
I think you have to somehow invite the people you want in? Or make the webinar public?
I found this in the support section on AnyMeeting

YouTube - Setting Up a Registration Form for Your Webinar

test - AnyMeeting | Free Web Conferencing, Webcast and Webinar Service