Currently, watching the 1.6470 level, as it is the 100% of the most recent upswing, and OTE region for the smaller one just prior to London Close, I was going to go long, but was recording my LO trade that I missed out on the massive 60 pip rally up… I’ll make sure not to do that again…
Could be a good long setup if price reaches the 1.6470, it’d be a nice RRR as well.
Regards,
Clark.
you’ll find the links in the first post of this thread
I can’t get that indicator to work properly so I use different ones.
Here’s some other custom Pivot indicators and a world clock.
SDX-TzPivots.mq4
Pivot Points - Daily (Shifted).mq4
P4L Clock.mq4
Wally
Ended up taking this trade on a demo aco****, was up about 20 pips, so I set my SL to BE + 1 pip, woke up from a nap and found myself stopped out. So a net gain of +1 pip of monopoly money. Wasn’t expecting much from it, LC was already over and a bank holiday for Japan.
Regards,
Clark.
Hello folks…
Just a quick note to let you know I’ve run into a bit of a menu bug for the video course so instead of having index menu driven videos… I’m going to have to use the format I have used in the past. I realize this might not be any big deal to most if not all of you… but I wanted it to permit you all to click and go to the areas without having to wade through all of it to review specifics. So look for the upload this week… and later on a Version 2 that will permit index access once I determine what I’m doing wrong with it. Thanks for your patience… trust me… it will be well rewarded. 
GLGT
Cable Trade from today.
I know all of us who were in the chat room watched both the Fiber and Cable rocket higher thinking we missed the boat this morning but I did manage to catch the pullback in the Cable.
Cable Trade:
1HR was Long, 4HR Short, Daily Long
The Cable bounced of significant support at the 1.6480 and made a nice 70 pip swing higher.
Bounce was also where todays MS1 was located.
SMT Bullish Divergence
OTE present
I set a limit at 1.6472 and went back to bed. I realized the London Open time frame would most likely have passed by the time it was hit but all the supporting factors said it was a high probability trade.
My limit was executed at 4:30am, with a SL of 30 pips and a profit target of 90 pips, or just below the 1.618 extension of todays original swing.
When I woke up around 6:30 and saw the Cable had bounced over 60 pips, I trailed my stop up 30 pips to just below a 5 min fractal. Price came down and hit my stop loss before shooting up to my final profit target.
2 good learning points for myself from this.
My analysis was spot on, and if it was my first trade of the week I would be out with 3R. Nice RR ratio.
I followed my trading plan without any hesitation. I moved my stop to 30pips because that would bring my weeks net profit to 2.45R which is above my weekly goal. At that point, I was in a risk free trade, having guaranteed myself my weekly goal. Since the Cable could have easily been rejected at the central pivot and slammed back down, I’ll be content with my 30pips.
I’m done trading for the week.
2 Trades, 2 wins, 65 pips total, 2.45R / 2.45% on the account.
Cheers
I am so excited for this video course, and even better now that it isn’t in index menu format, just means I can bring the videos on the go. 
Regards,
Clark.
Trade #3
Date: May 4, 2011
Time (GMT): 6:33AM GMT
Live
[B]Pre-Trade:[/B]
Currency Pair: EUR/USD
Market Bias (Long Term): Bearish
Market Flow (Daily, 4H, 1H): Bullish on daily, bearish on 4H, 1H
Position Taken (Long/Short): Short
Trade Style (Swing, Scalp, etc): London Open Swing
Risked Percentage (%): 0.5%
Lot Size: 0.04
Stop Loss (in pips): 30
Take Profit (in pips): 80
Entry Price: 1.4826
Notes & Comments:
Entering at CPP and 79% retracement on the most recent downtrend. Price is slowly working itself up there. A confluence of CPP’s for the past 4 days are apparent. SL will be set at breakeven + 1 pip once 30 pips are reached.
Entry Screenshot:
[B]Post Trade:[/B]
Exit Date: May 4, 2011
Exit Time: 7:25am GMT
Exit Price: 1.48563
Net Pips (in pips): -30.7
Net Income (% growth): -0.59%
Net Income ($ amount): -$1.23
Notes & Comments:
Price could not break the support even though sentimentals indicated a bearish move for the Fiber. Have to remember that support and resistance trumps market flow! A lesson learned.
Closing Screenshot:
Sorry this took a while – had exams all day. But took this trade last night, I thought I had it down, but forgot that S&R trumps market flow. Fortunately I didn’t risk much and I’ll take it as a learning experience. =)
Regards,
Clark.
The fiber took my money on the LO but it’s all right, I caught up with it down the dark alley of the LC - got my money back and took its Rolex for good measure.
Gawd I luv kill zones.
Wally
I was in two minds as to whether to post this or not as its totally off thread and I don’t want anyone to take it the wrong way as its meant with the best of intentions!!
I was in the chat room today and didn’t really have anything to say so I kept out,this is just for you university guys an gals with Summer coming up,someone said something that got me thinking and in a nutshell this is it.
Imagine you have on average 60 more occasions to trade forex in your life!
what will you do…?
For sure you’l make the most of every one…right?
Well for those of you in your early twenties(university age more or less)you have on average ONLY 60 more Summers left in your life…
Just a very Humble thought meant with the best of intention,take it or leave it,I just hope for you all, the very best in your lives!!
GLGT
Jeff
P.S ICT great to know your still going strong,I was beginning to think you had another motorcycle moment!!
Hit my first loser in about 7 trades tonight. It was always going to happen. PRICE was too far below the ADR, and I really can’t say why I jumped on it other than confidence probably got the better of me.
EDIT: Not a good night for me. Emotions got in the way and I tried to avenge the loss with another trade that was also a loser (CAD/USD). After only having 3 loses in 21 trades (6 weeks of trading), I just went and had 2 in one night!
Took another losing trade last night for the LO session. I was in a rush to do my analysis (sheesh…women…), I didn’t think carefully. I need to follow my rules; if I do not put in the time to do my analysis pre-trade, I shouldn’t have traded. I’ve taken 3 trades this week and chances are I won’t be doing anymore trading this week. I’m going to save my profits for the week and take to time to work on my trading plan and get my trading routine organized and thorough. I will post the trade as soon I as am able to access my trading journal.
Regards,
Clark. =)
I’m having a bad week after five profitable weeks in a row.
I trade FX using ICTs methods almost exclusively but my trading plan does allow for oppotunistic oil trades based on fundamentals and gold/silver trades based on divergence. After wins on these commodities over the holidays, when I try to avoid the FX market I was badly stung today. RM was poor but thankfully in place or it could have been worse.
My FX trades faired no better, I’m pretty sure Bernake and Trichet have access to my platform and use this information on which to based their statements, fiendish. Or maybe I should be flat during news releases like what my plan says.:43:
THANKS A DOZEN! I found the links to the indicators i needed! (was wondering what the .exe files were for, ^_^)
I had a losing week and I need to stop to reasess what I’m doing wrong. Feet back to earth.
Here’s the thing, during all this time I’ve been trading only the London session with success, but due to health issues I’m no longer able to do that, and instead I have the opportunity to trade the New York session, but it’s been so confusing and the transition has not been smooth at all.
I had planned on going for shorter profit targets (30, 40 pips) and catch the little retracements once the ADR had been completed or surpassed at support/resistance. Well I’ve had three losers out of three trades, this week, and although I’ve had loser weeks before, New York session feels like a strange place to me so far. I know every session has its own personality, but after years of watching (not trading) what happened after London, I felt like I knew exactly what to expect.
Anyway I just wanted to get it off my chest, if New York is my chance to stay in the markets, I’ll take it, and I’m sure I’¡l get to know it better, I’m pretty sure the ICT’s London Close strategy will take me to the fast track, it’s just that it was harder than I thought.
Thanks for reading :20:
Today I’ve made several trades all winners, more than I should be making. I had one loss trade simply because I exited it too early. One hell of a day overall in all currencies and hope nobody was burned out. I’m not trading tomorrow and will wait till after london Monday to see what type of correction occurs. You can’t fall 400+ pips in 2 days iwthout something. BTW GU is at the long term trend line, if it breaks the bias is short.
NFP tomorrow, so I think I’m done for this week. Some crystal clear opportunity would have to show up to force me place some trade.
[B]Only 2 trades this week, both winners, total only +27 pips (although one of them was up around +90 pips), total gain +1%.[/B]
I wanted to short fiber and cable during this week because of that clown Osama, but missed the right place for entry, although I had many pending orders, but they were not filled or I canceled them, because I did not like PA.
But there is another thing I would like to say…ICT’s approach and effort really inspired me and I decided to definitely go for it and switch to full time trading this year. If I see consistent growth in my account till September, I join your million dolars challenge Michael. My goal is not one million, but 50K USD per year.
It is funny how strange decisions can people do based on few videos and posts in crazy internet forum like babypips. I even again started regular running and swimming like years ago, just to get back to shape, clear my head and look more positive at this world. LOL, even my girlfriend is much happier
Atta boy Manta! Looking forward to your 50K goal. And best of luck on you becoming full time!
I’ve got about 3-4 years before I can even think about going full time, due to post-secondary. But if I can trade successfully part time while managing my studies, I will definately look to pursuit a full time trading career. I’m hoping my courses in economics and finance helps me out! Which I’m sure they will! Maybe not for the forex market but other markets as well. Which is something I would like to start. I feel diversifying is the best way to succeed and limit risk, can’t put all your eggs in one basket. =)
Edit: And grats on the whole girlfriend thing as well! Haha, my girlfriend was pretty grumpy when I told her I was gonna put money into trading, and I was losing when I first started, now she’s happier. =P “You’ll always lose money chasing women, but you always get women chasing money.” I read that somewhere online. Hahaha, hope no one is offended by that.
Regards,
Clark
I realized some time ago when I spent some time in very very poor countries like Bangladesh, India, Pakistan etc., that you dont need too much money to be really happy, but you definitely need money. 50k USD a year is maybe small goal for some people here, but it is definitely enough for me to be happy and most important it means absolute freedom for me, although I have very good life.
Yeah, some degree in economics can help (or not ;-)), because you can see some context in fundamentals, but I dont think it has anything to do with trading, especially with daytrading. Of course if I can give you some advice, for sure finish your studies. Markets will always be here waiting for you.
Yes, I agree $50K is a nice amount to live off of. I read somewhere that the top 25 hedge fund managers earned an average of $900million a year with bonuses and commissions included. Haha… Dream job right there, I could live with the fact that the rest of the world hates me for a couple years before I retired! Anyways, all jokes aside, I feel that trading full time also gives you a sense of accomplishment and you’re working for yourself, that, in my opinion is the best benefit.
While trading forex will most likely be a major career of mine in the future, but at the same time I am looking to diversify. Trading is a business and I feel diversification is key. I’ve been looking into intermarket analysis which deals with the currencies, bonds, commodities and stock markets and how they are correlated. I am hoping I can daytrade forex, but also balance that with a slower, more investment type of trading. I feel swing trading or even position trading stocks would be a good addition to an overall trading/business plan. I am still young, so experimenting with these isn’t such a bad thing. I’m hoping a trading plan which involves the trading of spot forex and the stock market will increase growth as well as succeed long-term. Those are my goals, slow and steady gains. =) I am trying to approach trading more as a business and not a hobby, as I once had, even though I may not have noticed back then.
Regards,
Clark.
