Deciphering ICT's Untold Secrets

FTMO Trader Scouting
Whish some of you would grow up a bit. yeah? Or maybe i should have put this in bold letters, hmmm, not sure.... Yay, i am 8 again all over...

Excuse my bad english again dear sir.
 
Good stuff Big, if you ever come to read Schwartz you will see the importance of the better half, in his instance Audrey.

He often tells the story of one of his biggest losses, Audrey was out buying a coat and he kept selling into a bull market, he is adamant that had she been at his side it would never have happened.

Take care.
 
big7887 said:
Thank you for your kind words Peter.

Your insight about time when to enter was most helpful...
Now i truly know what i am looking for every morning when i start my trading day.
Not to mention Shopsters old divergence thread... I read it whole like 10 times after i found it about one year ago. I was finding something new every single re-read. I slowly started to get it piece by piece... I can honestly say that this is the stuff you need to learn...

Now i need a break for the weekend, because my fiancee also needs some attention. Haha. And i am sitting in front of the charts all day long even in saturday... Time to relax a little before monday. I will try to input something useful to this thread. I am still in the need of experience, so lets see how the next week goes.

Thanks again.
B
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Please could some kind folk point me in the direction of shopsters old divergence thread.

I'm a relatively new trader and need to get some good eduction so I don't get eaten by the Sharks.

Thanks
 
One last thing, thinking about Audrey's advice to the pit bull - when he confessed his predicament and lamented 'where were you?' her first reaction was to seek the size.

'You have to get smaller Buzzy' - no sense of panic, he figured well over 1m loss, Audrey's response was control, get smaller.

Next day he exited slowly, mitigating the loss as much as possible, sure it was around 800k, but the number was not so important, it took maybe around 8 weeks to make that back, the important thing was that had that sense of control, instigated by Audrey, been not there, then Marty may just have been another loser.

In a loss situation, always follow Audrey's advice - get smaller.
 
Peterma said:
One last thing, thinking about Audrey's advice to the pit bull - when he confessed his predicament and lamented 'where were you?' her first reaction was to seek the size.

'You have to get smaller Buzzy' - no sense of panic, he figured well over 1m loss, Audrey's response was control, get smaller.

Next day he exited slowly, mitigating the loss as much as possible, sure it was around 800k, but the number was not so important, it took maybe around 8 weeks to make that back, the important thing was that had that sense of control, instigated by Audrey, been not there, then Marty may just have been another loser.

In a loss situation, always follow Audrey's advice - get smaller.
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Guy needs to go back and learn the basics, forget about Audrey.
 
Chrisrocs said:
Guy needs to go back and learn the basics, forget about Audrey.
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Lol, only two possibilities, first having never encountered selling into the bulls...the second...

Learn the basics, yeah, probably right... young guys know so much...

The basics start with the S&P.

My guess is he has forgotten most of whatever it is we think we have learned, but also my guess is he will never forget about Audrey ;)
 
Peterma said:
Lol, only two possibilities, first having never encountered selling into the bulls...the second...

Learn the basics, yeah, probably right... young guys know so much...

The basics start with the S&P.

My guess is he has forgotten most of whatever it is we think we have learned, but also my guess is he will never forget about Audrey ;)
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Next time you see him at the bingo hall, pass along this link

http://www.babypips.com/school/undergraduate/senior-year/risk-management/what-is-risk-management.html

Let him know his clown shoes will be arriving via mail also

-c
 
I know you are only kidding Chris, but I have no idea what twin peaks mean, probably something on telly?

I suppose I must get a life.

Anyways, the story re Audrey has a relevance, trading they say is a lonely place. Very often a trader needs to step back, easier said than done when the juices are flowing.

Ever get in the flow of things, when you just know you are right, everything you have ever learned is screaming at you that you are right, you look at price, here is where you hit the sell again, same number of lots, you are so right.

I have done this countless times, like I say, must learn this twin stuff, most times I get out ok ... but then, when I am bloody wrong, then I need Audrey's advice .... get small and gulp.

Btw you never asked what the coat cost.
 
JohnWooly said:
Please could some kind folk point me in the direction of shopsters old divergence thread.

I'm a relatively new trader and need to get some good eduction so I don't get eaten by the Sharks.

Thanks
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John, just seeing your post.

Most the guys here seem to encourage thought, though often you wouldn't believe it at first glance.

In the business world we call it R&D - research and development, apparently if a person indulges in the first the second follows.

So in that spirit I will offer a guide - first look at his internet name. Then figure how you would describe his approach, would you apply a word such as 'shit', 'abysmal' 'average' or 'elite' maybe.

Then having figured all that, decide what best describes his daytime activity, 'snoozer', 'twin peak'(what ever that is)'TV Viewer' or maybe 'trader'

Then note that he is not fresh out of college, so likely a chance he was posting say back maybe four or so years.

Put that all together and feed it into our good friend google and see what comes up :)
 
Peterma said:
John, just seeing your post.

Most the guys here seem to encourage thought, though often you wouldn't believe it at first glance.

In the business world we call it R&D - research and development, apparently if a person indulges in the first the second follows.

So in that spirit I will offer a guide - first look at his internet name. Then figure how you would describe his approach, would you apply a word such as 'shit', 'abysmal' 'average' or 'elite' maybe.

Then having figured all that, decide what best describes his daytime activity, 'snoozer', 'twin peak'(what ever that is)'TV Viewer' or maybe 'trader'

Then note that he is not fresh out of college, so likely a chance he was posting say back maybe four or so years.

Put that all together and feed it into our good friend google and see what comes up :)
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I get that you are trading home all by your lonesome but are you just another retard living of his pension fund and pretending to be, or are you atually making a living of FOREX?

Manny thks dear sir
 
Yes, but coputator confucius says: ashagalla ala gallla daa asha glada da da. ashalage da! I am confused dear sir.

Many thks
 
Jeronimo said:
Yes, but coputator confucius says: ashagalla ala gallla daa asha glada da da. ashalage da! I am confused dear sir.

Many thks
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Join the club- club "confused r us" > I can't get Google to translate your confuscius saying.

If I can't cut and paste a phrase into the Google search field and find info on it on the first search page it probably doesn't exist. I guess thats another of ICT's untold secrets that can finnaly be revealed ;)

When I do find what I'm looking for I will often poke about to see if there is more good stuff to be learned. Here is another little gem from the Hall of fame threads at Elite trader
http://www.elitetrader.com/et/index.php?threads/3-1.27379/
"One of the basics taught to pro traders. Why? Because it allows you to use a position management technique that works like magic."

ICT teaches scaling out- this is scaling in. With this you can turn an initial 2:1 trade into 5:1 reward to risk
 
Jeronimo said:
Yes, but coputator confucius says: ashagalla ala gallla daa asha glada da da. ashalage da! I am confused dear sir.

Many thks
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What Confucius is trying to express in the above quote, is that price is the name of the game...

Or as he puts it, "Pin um out and let it rip" 8)

sU8uJ30.jpg
 
i am sorta piing my pants right now LOL wll be back later LOL. Feels good to laugh ones in while!!!

Manny thks dear sirs!

Will leave you with this confusios saying: abalabla blabla bla ..da!

think i might be a bit tired...
 
lemme tell u folks one secret, and lemme assure u its cuz im drunk. ONLY. will delete when im done.

when u know what ur doing, and u got the ballz to do it on a daily basis with REAL money. all the retail clown show fucks are seriously and honestly a consistent source of entertainment. YOU ARE OUR ENTERTAINMENT. if you got a problem with that just shutup. EZ PZ
 
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