Beginner to ICT

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jenniferochoa

New Member
Hello everyone! :D

Because of all the lovely people here, I found out about ICT. A few months ago, I started going through his catalog of videos. I'm still new, so maybe I might be wrong, but I hope you all don't mind some questions for clarification? :)

  • A bullish order block is a down candle before a strong move up and a bearish order block is an up candle before a strong move down. When I draw a rectangle for either of these, do I include the highs and lows? In some videos I saw that the entire candle was highlighted with a rectangle and in other videos, for bullish order blocks, only the open to the high was. Also, in those other videos, for bearish order blocks, only the open to the low was.
  • Sometimes a move looks like it is a stop run before a reversal, but other times, the move only strengthens after running through where I think stops might be. How do I know where to draw the line? When I look at the charts, I seem to only know for sure whether it was a reversal or not a lot after the fact. :-[
  • When an order block is violated, it doesn't always mean that it won't be useful again in the future, right? How often have you all noticed "support turns into resistance" or "resistance turns into support"?
I have a chart if anyone would be so kind as to help me understand how to get better. :))

42lPO76.png


The two thumbs up are the ones I think I'm supposed to use. Is that wrong? ???

Thank you everyone! :D
 
Piper 2.0 said:
Toss Mental Mikey and stay away from him as far as possible. Then you might have a chance.

Cheers,
-P

yeah i think she'd be better off with a moving average and a coin to flip 8)
 
Jennifer, I'm not sure what order blocks are, but if you are using them then good stuff.

All that down and up candle stuff equally confuses me, so I cannot comment.

The one thing that I have a tiny piece of experience, it's tiny, but it's there, most guys call it risk.

Your chart, this is a guess, is a daily, it is Usd/Yen, forget all the candle stuff, you have chosen a chart of risk, there is some shit, panic, whatever happening on stocks atm, mostly our friends in China are getting the blame, but the thing with risk is - in risk off (panic) times, run like hell for the Yen, order blocks or no order blocks - it really is that simple.

Now if you want to go to sleep I'll do a youtube on the reasons why the Yen, but think about this, you have worked hard all you life, your culture causes you to be a saver and not a credit card whizz, so you invest your money, you are feeling a little adventurous, so in a USD product - then in a time of panic, take your money home - whether that is what actually happens is not important, it's what the market has traditionally perceived happens that counts.
 
One other wee thing, you ask about s/r and how often they are respected. This is a good question, a good trader will ask him/herself that question every time price arrives at that point.

The only way to answer yourself is on the right side of the chart, over there everything is in context, so upcoming is such a scenario, it is on Eur/Gbp, so hit the weekly and enjoin with the fat cats (apologies to gg's cat), can you see the level?

This is where context comes in, are the mm's racing up there to what I hear guys call 'reject', whatever that means, or will price actually stop there, fall back a little because of some profits to be made, and then push through because Gbp is on the back foot and Euro is not.
 
Welcome jenniferochoa. I “found” ICT about 18 months ago sand have studied most of his material and understand some of it. I have found many useful concepts and techniques and added them to my style of trading. Your statement ; “ When I look at the charts, I seem to only know for sure whether it was a reversal or not a lot after the fact. “ is the crux and dilemma of technical analysis and price action. As shopster uses as his signature “ " trading is the art of drawing sufficient conclusions from insufficient premises." .

As my mentor Forest Grump says – Strong money is as trong money does – What ever they want, when ever they want to everyone if possible.

I agree with your explanation of order blocks. Let me share some resources that may assist with ICT material.
Straight Line Trader, SLT a forum regular has a website and videos that may be useful. There are also some people on twitter that use ICT techniques, some are professionals. One of these is Dragonfly@MidgeGault who has a blog that explains ICT based setups. Another is TraderSZ@trader1sz who host live sessions and tweets regularly.

Let me share a bit of wisdom TeaderSZ tweeted one afternoon. I wish I had heard this years ago,

“to anyone learning i would advise, master 1 setup, and take that only. forget the money, u aint making shit off a small acc to start

once youve mastered it and can see and take it without thinking twice, then u have ur niche, u dont need anything else

find atleast 30 examples of that setup, screenshot, annotate...keep doing till ur bored shitless

then trade it, demo, for a few months weeks or use a small live acc, build confidence forward testing it

once you have that then thats it, its just experience and time u submit to, ur acc will grow, ul be in a far better position than most

look around you, how many are at trading for years on end and get no where, why is that?

they try dabbling into so much diff stuff that they dont know what they looking for. more frustration...

....they live with that hope that one day they will make it. they need a reality check, its been years and they got nowhere..

..they will remain in that position for years to come. Unless they change their ways do the hard graft required and take it from there

watch ict stuff, use what works for you, what resonates with you and test it in a risk free environment. practice practice practice “

Hope this helps
 
Forget ict or any of his followers none of them make money from it ,forget orderblocks ,depending on t/frame s/r changes all the time
https://www.youtube.com/watch?v=ZIf28eUY4MY
https://www.youtube.com/watch?v=iLkeiDoPmNg
you can keep it simple and learn in a hour just by watching the above vids ,no fluff or bullshit
https://www.youtube.com/watch?v=mqWdm-NOAmo
this one will explain s/r and supply demand
 
ICT quote 2015: " i would be talking endlessly and never arriving at anything useful. "

lol

s
 
shopster said:
ICT quote 2015: " i would be talking endlessly and never arriving at anything useful. "

lol

s
useless is what he spits out all for his own ego trip guys a sad lost soul pitiful
 
A contributing factor to the removal of myself from Gears was the the cult of ICT....

Good luck to all, on the quest that is trading.
 
Alpha-Bet said:
A contributing factor to the removal of myself from Gears was the the cult of ICT....

Good luck to all, on the quest that is trading.

You'll find that not as present here anymore... or at least, people are more leveled out and opinions are more varied.
 
Alpha-Bet said:
A contributing factor to the removal of myself from Gears was the the cult of ICT....

Good luck to all, on the quest that is trading.

They mostly gone kinda(except a desperate soul or two), guess they blew out along their cult leader.. >:D
Time to come back.. ;)

-P
 
Jack said:
You'll find that not as present here anymore... or at least, people are more leveled out and opinions are more varied.

Okay, that's a positive in my opinion.

Trading definitely attracts a wide and varied crew.
 
Piper 2.0 said:
They mostly gone kinda(except a desperate soul or two), guess they blew out along their cult leader.. >:D
Time to come back.. ;)

-P

Piper, piper, piper...
A quick perusal of some of your posts.... Lol

ab
 
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