Beginner to ICT

Discussion in 'Development and Psychology' started by jenniferochoa, Jan 15, 2016.

  1. jenniferochoa

    jenniferochoa New Member

    Joined:
    Jan 15, 2016
    Messages:
    4
    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. :))

    [​IMG]

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

    Thank you everyone! :D
     
  2. Golden Bull

    Golden Bull We got cookies

    Joined:
    Jan 13, 2015
    Messages:
    462
    Toss Mental Mikey and stay away from him as far as possible. Then you might have a chance.

    Cheers,
    -P
     
  3. the golden gun

    the golden gun RINSE & REPEAT

    Joined:
    Jan 26, 2014
    Messages:
    2,328
    yeah i think she'd be better off with a moving average and a coin to flip 8)
     
  4. shopster

    shopster Well-Known Member

    Joined:
    Jun 17, 2013
    Messages:
    557
    close the thread.

    s
     
  5. Peterma

    Peterma Well-Known Member

    Joined:
    Jul 15, 2013
    Messages:
    868
    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.
     
  6. Peterma

    Peterma Well-Known Member

    Joined:
    Jul 15, 2013
    Messages:
    868
    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.
     
  7. Computater707

    Computater707 Well-Known Member

    Joined:
    Sep 15, 2014
    Messages:
    305
    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
     
  8. garry

    garry the art of war

    Joined:
    May 4, 2014
    Messages:
    710
    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
     
  9. shopster

    shopster Well-Known Member

    Joined:
    Jun 17, 2013
    Messages:
    557
    ICT quote 2015: " i would be talking endlessly and never arriving at anything useful. "

    lol

    s
     
  10. garry

    garry the art of war

    Joined:
    May 4, 2014
    Messages:
    710
    useless is what he spits out all for his own ego trip guys a sad lost soul pitiful
     
  11. Alpha-Bet

    Alpha-Bet Well-Known Member

    Joined:
    Jun 18, 2013
    Messages:
    891
    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.
     
  12. jack

    jack Administrator Staff Member

    Joined:
    Mar 29, 2013
    Messages:
    2,399
    You'll find that not as present here anymore... or at least, people are more leveled out and opinions are more varied.
     
  13. Golden Bull

    Golden Bull We got cookies

    Joined:
    Jan 13, 2015
    Messages:
    462
    They mostly gone kinda(except a desperate soul or two), guess they blew out along their cult leader.. >:D
    Time to come back.. ;)

    -P
     
  14. the golden gun

    the golden gun RINSE & REPEAT

    Joined:
    Jan 26, 2014
    Messages:
    2,328
    Didn't even notice you were gone.

    Who are you again, and why should I care?
     
  15. Alpha-Bet

    Alpha-Bet Well-Known Member

    Joined:
    Jun 18, 2013
    Messages:
    891
    Okay, that's a positive in my opinion.

    Trading definitely attracts a wide and varied crew.
     
  16. Alpha-Bet

    Alpha-Bet Well-Known Member

    Joined:
    Jun 18, 2013
    Messages:
    891
    Piper, piper, piper...
    A quick perusal of some of your posts.... Lol

    ab
     
  17. jenniferochoa

    jenniferochoa New Member

    Joined:
    Jan 15, 2016
    Messages:
    4
    Wow, so many replies. ;D

    Thanks everyone. I have a lot to think about now! :D
     

Share This Page