ICT Actual Case Study

FTMO Trader Scouting
jupiter_peak said:
nice GBPUSD long Turtle Soup entry using wednesday's order block and 79% retracemet level.
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it was a great shot ! thanks man that makes sense to me why you are buying (y)
 
Piper said:
Really? Why? Just curious.. 8) Maybe i'll buy some too.. Or not.

-P
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i saw many times price bounce from daily swing high but it is a bit confusing for me because of order block i didnt found any order block to support this buy from 6157.

full range is more than 200 pips, if a draw fibo full range it shows 62% 6139
one day moving 100 pips for down ! its kind a weird for me to get that 6139 so my exception is 6157
 

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sakib717 said:
...bit confusing for because of order block...
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Just an advice for your fx journey. If you cant see it, don't trade it. Cause probably it'll fail. And if you'll get lucky, you're screwed 5 times as much, since now you have a new random reinforced trading habit.

sakib717 said:
its kind a weird for me to get that 6139 so my exception is 6157
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Now to get into that its problematic. In the market anything can happen any moment. I hope that you'll see that after a while.. :)

All best,
-P
 
Piper said:
And if you'll get lucky, you're screwed 5 times as much, since now you have a new random reinforced trading habit.
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thanks for your word. :thumbsup:
 
One thing I have learned after almost 10 years trading is that whenever you are in the market, you are exposed to risk. Period.

Therefore, if you are hunting for 20 setups on a minute basis, I'd recon this as recipe for absolute disaster. If you are doing this, you are a junkie. Not a trader.

Question yourself about the immediate need to be hunting for setups. What is the market currently doing? Understand that I am not here trying to deviate those that scalp intraday. I am just trying to say that staying on the side lines is also a good option. Especially at a moment like this. It's resounding that the market is currently on hold. Look at your economic/political calendar and you will see why.

We have a saying here in Brazil: "If you are looking for hair on an eggshell, you are probably "crazy"". Same goes for looking for setups that simply don't exist.
 
sakib717 said:
i saw many times price bounce from daily swing high but it is a bit confusing for me because of order block i didnt found any order block to support this buy from 6157.

full range is more than 200 pips, if a draw fibo full range it shows 62% 6139
one day moving 100 pips for down ! its kind a weird for me to get that 6139 so my exception is 6157
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Instead, why not go long on fiber, having 1.29 as basis, with a clear H1 order block price coming in at LO? That one was a clear cut trade.
 
jupiter_peak said:
...

Therefore, if you are hunting for 20 setups on a minute basis, I'd recon this as recipe for absolute disaster. If you are doing this, you are a junkie. Not a trader.
...
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Thats quiet a statement. I'm personally not trading like that. But i do know peeps who make unbelievable ROI from stuff like that. Each to their own. The PnL speaks for itself if you're a trader or a junkie.

-P
 
.. that style of trading makes my brain feel sore.

Seems more like playing Poker Machines - the brain starts to become conditioned to crave instant feedback.

This is not healthy
 
Piper said:
Just an advice for your fx journey. If you cant see it, don't trade it. Cause probably it'll fail. And if you'll get lucky, you're screwed 5 times as much, since now you have a new random reinforced trading habit.

Now to get into that its problematic. In the market anything can happen any moment. I hope that you'll see that after a while.. :)

All best,
-P
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Dear piper maybe you know what i mean at that time :)
 

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@Jupiter_Peak, I have question for you. Recently ICT explained about consolidations. I understand when he explained the fair price and finding the price level which touches most number of candles with open, high, close and low. I also understand when he explains the significance of that price in future, when price returns to that level. My question is what is the impact of that average price in the current consolidation, the consolidation for which we have derived the average price?

Thank you so much for your videos.
 
sakib717 said:
Dear piper maybe you know what i mean at that time :)
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Its not the point mate. If it qualifies by your method trade it. If not, dont.

-p
 
cskrishna said:
@Jupiter_Peak, I have question for you. Recently ICT explained about consolidations. I understand when he explained the fair price and finding the price level which touches most number of candles with open, high, close and low. I also understand when he explains the significance of that price in future, when price returns to that level. My question is what is the impact of that average price in the current consolidation, the consolidation for which we have derived the average price?

Thank you so much for your videos.
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I try to think of fair value as a mean. That been said, price has a tendency to revert to the mean. In other words, revert to the most accurately (fairly) priced for any particular asset.

Therefore, whenever price deviates too much from the mean, expect it to compensante and keep the average (mean/fair value).

So if you are selling, look to sell at a price above the mean. If you are looking to buy, look to buy at a price below the mean.

Makes sense to you?
 
Got it. Thank you so much.
jupiter_peak said:
I try to think of fair value as a mean. That been said, price has a tendency to revert to the mean. In other words, revert to the most accurately (fairly) priced for any particular asset.

Therefore, whenever price deviates too much from the mean, expect it to compensante and keep the average (mean/fair value).

So if you are selling, look to sell at a price above the mean. If you are looking to buy, look to buy at a price below the mean.

Makes sense to you?
Click to expand...
 
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