ICT Forexmas 2014 / Market Maker Series

FTMO Trader Scouting
marzullo63 said:
Who is doing "very well" with ICT stuff?
I am following him since long enough and all it did for now is to put me at break even.
Consistency is another level I need to acquire I guess...

Marzullo, you'll not get to that level by following anyone else - you already know enough, follow your good self :)
 
marzullo63 said:
Who is doing "very well" with ICT stuff?
I am following him since long enough and all it did for now is to put me at break even.
Consistency is another level I need to acquire I guess...

What are you trying? What risk rules do you follow?
 
ICT or someone else in the know: Regarding SMT divergence, does the USDX have to lead or can one of the dollar crosses lead? For example, at the moment USD/JPY seems to have broken daily bullish structure and appears bearish. USDX is still strong bull. Cable and Fiber seem to be inline with USDX as well as USD/CAD and USD/CHF. AUD/USD has made a "three little indians" pattern and is close to breaking bearish structure. Could UJ and AU be leading the way or is the fact that USDX is still strong mean that they could re-align with the dollar strength?

Another question I have is regarding UJ and AU as far as "True Day" goes. Since they are Asian pairs and can see good moves in Asian session, do they get treated the same way as EU and GU do as far as the day starting at midnight?
 
wow golden gun went crazy and us insulting christians here including ICT. take him down! Ķeep satan for yourself away from here. this is about trading. cant believe people who serve somebody who is nothing compared to Jesus.
 
bronxterp said:
Another question I have is regarding UJ and AU as far as "True Day" goes. Since they are Asian pairs and can see good moves in Asian session, do they get treated the same way as EU and GU do as far as the day starting at midnight?

Hi Bronxterp, I believe ICT answered this question in his twitter post:

Richard Grissom ‏@RichGrissom Jan 7
@ICT_MHuddleston @slugfx thanks, what is kill zone for Aussie/USD?

TheInnerCircleTrader
‏@ICT_MHuddleston
@RichGrissom @slugfx

Asia is good for Aussie and the others. LO/NYO
 
AnDDe said:
Hi Bronxterp, I believe ICT answered this question in his twitter post:

Richard Grissom ‏@RichGrissom Jan 7
@ICT_MHuddleston @slugfx thanks, what is kill zone for Aussie/USD?

TheInnerCircleTrader
‏@ICT_MHuddleston
@RichGrissom @slugfx

Asia is good for Aussie and the others. LO/NYO

Thanks. He posted A LOT that day and I must have missed it
 
Aussie, Kiwi and Yen all "tend" to setup their moves out of Asia. Functionally, 9 am Tokyo Time. (Also end of the CDR period)

Also works well for US-based traders that want to trade in the evening. Though your TPs have to managed a bit differently.
 
hektor said:
wow golden gun went crazy and us insulting christians here including ICT. take him down! Ķeep satan for yourself away from here. this is about trading. cant believe people who serve somebody who is nothing compared to Jesus.

Welcome Hektor I hope you find FXGears as helpful as I am.

GG is a "senior member" and one must allow for his senior moments :eek:

He just changed his avatar and I believe his brief flurry of satanic posts are to run his post count up to 666. He has been unusually quiet since then. Perhaps he is waiting for someone to notice and acknowledge his now even more exalted senior member status. >:D

He is usually a great source of infotainment.
 
I saw a comment on Twitter from Rod. He''s saying that there is no centralized exchange so therefore volume has less value as a tool. I get the point but have another question. The spot instruments come close to mirroring their futures brothers, such as Cable / 6B, Fiber / 6E, etc. I know there is some minor divergence, but I've never understood how this mirroring can occur. Regardless, does this not make volume from the Futures exchanges something that could be helpful. If ICT does not mess with it, then I'm good with that, but it's an interesting question I think.
 
The futures price is arrived at by the 'now' price, i.e. spot. That's the purpose of the futures, a commercial can sell or buy at the current price for execution in the future, all doubt is removed or 'hedged' for the commercial.

The banks usually package it as a 'forward buy/sell' contract guaranteeing their customer to exchange the currency at today's price (spot). The bank has thus become the speculator on the exchange rate in the future.

There have been a number of studies on volume in the futures vs volume in spot (Steve Briese mentions a few), the reality is it is difficult to tie down volume in spot, a single contract in spot can have an exaggerated reflection in volume, the bigger the numbers in the contract the more the risk is hedged, thus the greater the volume.

ICT has read Briese and despite reservations on the book's title he recommended it as a read.

Page 127/128 he addresses this very subject, in my own notes I entitled those pages " Futures vs Spot in Volume".

http://ftp.ny.frb.org/research/epr/04v10n1/0405klit.pdf

http://commitmentsoftraders.org/


@ Kektor,

Pass little remarks on GG and his devil thing, I remember Aaron doing something similar a couple of years ago on BP, I really suspect it was around this time of year as well - maybe studying WD Gann and the planets or something, who knows.
 
Anybody understand open interest and COT data? I'm finding it hard to understand. For example, when there's a 15% drop in open interest, it's supposed to mean that commercials are net long. I scanned over a few 15% drops and price would go the both directions. Same with COT. I can't get a reliable conclusion based on COT extremes or open interest.
 
outthislife said:
What are you trying? What risk rules do you follow?

My risk rules are what he states for risk control, 0.5%-2%, halving after losses, and raising risk again upon 50% drawdown recovery etc... My accuracy in choosing the setups does not allow me to go beyond break even yet. He himself is 90% accurate as he states.
You can buy/sell the low/high of the day at the beginning of the day, unfortunately the high/low of the day is not defined till the end of the day eheh, in hindsight will make perfect sense.
I think that after learning most of ICT tactics it still requires loads of analysis and experience around these concepts to reach good profitability.
Also your psychology needs to develop from demo, to real money and from penny account to big account..., it's a long long long road.
What fascinates me a lot about his methodology is the way risk can be fine tuned to reach very high risk/reward ratios (this mega trades he talks about) and I am looking forward to get this clarified in the MM series.
 
quick question: I'm looking to open a demo account. what site allows you to run charts on USDX (the dollar)? I can do it in barcharts but want to find a home that lets me do that and eventually in a live forex account?
 
dougl1965 said:
quick question: I'm looking to open a demo account. what site allows you to run charts on USDX (the dollar)? I can do it in barcharts but want to find a home that lets me do that and eventually in a live forex account?

FOREXLTD

http://forexltd.co.uk/trade/contrspec/usdx/
 
If its funny for people here what GG did and nobody is offended - hey GG have another one. Nobody gonna tell you what to write or do. He dont give a s. econd anyways. "Do what thou wilt..." But "they" 100% did not want you to pray to Jesus. Everything Flawed from foundations.
Let me Leave it forever cause people here want one thing.
If we have laser focus on learning and trading we would have been professionall traders for a living much earlier. But we are distracting ourselves too much. At least me.
I m not goona learn 10 years and still work for somebody else. Don't lower your expectations to meet your performance. Raise your level of performance to meet your expectations. Expect the best of yourself, and then do what is necessary to make it a reality.
As one time Ralph said. Lets raise our bar higher.
Thanks Peterma for info. I use volume all the time even tick is more helpful than nothing.
 
proximitymines said:
Anybody understand open interest and COT data? I'm finding it hard to understand. For example, when there's a 15% drop in open interest, it's supposed to mean that commercials are net long. I scanned over a few 15% drops and price would go the both directions. Same with COT. I can't get a reliable conclusion based on COT extremes or open interest.

The open interest rise/drop is only useful when price is in a consolidation. So if OI drops while price is in consolidation, that means to expect a bullish move. OI increases while price is in consolidation, expect a bearish move. Just keep in mind that COT and OI is not a short term accuracy tool
 
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