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

[system]

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

That is awesome!!! This is really encouraging to see you making it your own. Very nice trading.

GLGT

[system]

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:

this is how you develop trust in the tools… keep at it!!!

I am so very pleased to see the fruits starting to show. So cool!

GLGT

[hellogoodbye4201]

Anyone else looking to go short?

My short kicked in under the .786 retracement from the previous day’s high to low. I dont think the trade will go past the .886.

Short at 1.56207

[ukdave]

Anyone else looking to go short?

My short kicked in under the .786 retracement from the previous day’s high to low. I dont think the trade will go past the .886.

Short at 1.56207

Nope… fast asleep at that point!

Very volatile today… stayed out of it pretty much. Right from London opening, it was flying up and down like a tart’s knickers. Did get one 30 pip win early on with gbpusd, then a loss. Looked at a couple of other pairs, took a couple more losses and got out for the day. Felt I was starting to chase trades. Been spending a lot of time looking at charts this week so time for a break I think!

[hellogoodbye4201]

Nope… fast asleep at that point!

Very volatile today… stayed out of it pretty much. Right from London opening, it was flying up and down like a tart’s knickers. Did get one 30 pip win early on with gbpusd, then a loss. Looked at a couple of other pairs, took a couple more losses and got out for the day. Felt I was starting to chase trades. Been spending a lot of time looking at charts this week so time for a break I think!

Ya I know what you mean. My short hit +30 and I closed 1/3 and set the stop to BE+1 which ended up getting hit. Still profit is profit and more importantly not a loss lol

[hellogoodbye4201]

ICT do you avoid trading on fridays or during major news?

[hellogoodbye4201]

That is pretty cool lol, making money is fun:cool:

[system]

ICT do you avoid trading on fridays or during major news?

I rarely trade Fridays and I do not trade on NFP days. My trades are so generic I have the patience to sit on my hands and wait for the setups to unfold, no reason to get all worked up feeling like I missed the party.

I do not look to trade every day. I do not look to chase every possible opportunity. I stop trading if I meet or hopefully exceed my “goal” for the week or month. It’s really that simple… and it translates into something very special.

PS: New video uploads Sunday evening.

GLGT

[mozdef]

PS: New video uploads Sunday evening.

GLGT

Can’t wait!

[samys]

Where’s the new vid Mr. ICT??

[mozdef]

Where’s the new vid Mr. ICT??

He has posted a schedule for his video releases on his blog: The Inner Circle Trader™

[samys]

He has posted a schedule for his video releases on his blog: The Inner Circle Trader™

Thanks mate.

[akeakamai]

A release schedule, is this for real??? This is starting to feel like a university class with a really good prof, except instead of paying 1000s of dollars, you’re making 1000s of dollars

[Sweet_Pip]

A release schedule, is this for real??? This is starting to feel like a university class with a really good prof, except instead of paying 1000s of dollars, you’re making 1000s of dollars

As Martha Stewart would say…“It’s a good thing”…

[TalonD]

didn’t she spend time in jail for insider trading ? LOL

[PipBandit]

Yup, what she should have done was use an “expert network” and pay them large sums of money. They then would’ve provided her with all sorts of great information that she could have legally made a pile of money of. These expert networks in no way deal in inside information at all. No siree. Clean as a whistle. Just another example of the running joke the stock markets currently are.

[erikskenne]

Thanks for all shared valuable info, I have now spent 4 weeks looking at s/r lines (areas) no trade just make studie. It feels great, looking forward to the next lesson.
Have a nice weekend and a less stressful x-mas.

Happy trading

[vonner]

Hi Guys,

I’m so happy to have found this thread at the beginning of my forex journey. I think this will help accelerate my learning and I love all the lessons here.

I just have one stupid question. I was watching ICT’s demo trade on the Cable (YouTube - cable_11_02_10.avi) and I saw some lines marked M1, M2, etc. I understand the S/R lines coming from pivot lines but I was wondering where the M lines came from? Are these coming from previous week highs/lows and previous day high/lows? I’m so sorry for the stupid question. Total newbie here.

Thanks!

[cubanpip]

@vonner

I was watching ICT’s demo trade on the Cable (YouTube - cable_11_02_10.avi) and I saw some lines marked M1, M2, etc. I understand the S/R lines coming from pivot lines but I was wondering where the M lines came from? Are these coming from previous week highs/lows and previous day high/lows?

Best regards

---

“Me quedaré, me quedaré, siempre cubano me quedaré…”

[vonner]

I see! Now it makes more sense. Thanks!