Discussion in 'Systems and Methods' started by jupiter_peak, Aug 14, 2014.
ICT NOW KILLING THE MARKETS ...IS A MAGICIAN NOW HEY
I guess MH isn't too popular here.
Crossposting from BabyPips.
I wasn't familiar with Huddleston or ICT until recently; I haven't watched any of his old material or read his threads here on BP.
I did watch all his 'new' videos - the ones he recorded in 2010-2014 and republished on his website. I took notes.
My verdict? Some interesting concepts, but not very deep. I think I’d classify MH as a ‘delusional guru’. That is, someone who believes his own theories, but is fooled by randomness (Taleb) and is skilled at spinning out shallow material into hours of videos with which he uses as a springboard to attract clients to his paid mentorships.
I condensed everything that was clear, concrete and testable to 11 points that I'll post here, and leave my 20 pages of notes (mostly wasted effort I fear) [strikethrough]so you can make your own determination[/strikethrough] sounds like you've already made up your minds.
ICT Cheat Sheet
Just the facts with none of the chat.
Look for past 3 bar swings high and low where a break of a level might act as support/resistance
Use fib retracements as per the chart at the top of this document.
Place fibs on candle bodies, not wicks
ICT London killzone is a period of time between 2-4 am NY time, where the high or low of the daily range will likely start.
The daily range will likely reach its apex/nadir around 10-12 NY time (London close).
Watch DXY to gauge risk-on/risk-off sentiment. Watch cable and fiber to react to this.
When the USD goes up, foreign currencies go down.
Look for a ‘Judas Swing’, a temporary retracement/dip/rally against the overall price trend to occur around the London Killzone time. It should go above the open price.
Use the fib anchored at any likely spots to guesstimate the OTE (optimal trade entry)
Take profits at scaling level, target 1, target 2.
For macro analysis watch COT data, and mark out likely S&R levels on MN, W1, D1
Look for tops/bottoms that are too ‘clean’ (neat, flat) to get taken out
MH has proved one thing -
He Cannot Trade Profitably
He's a Trading God on the demo..
Who or what is ICT?
i was going to ask the same thing.
Hopefully at some point we will get an answer lol
Not holding my breath though......
i don't think anybody's reading this though....
We can just keep this convo up between us LOL
someone might just notice us. writing nothing. LOL
How has your trading been recently?
i've been trading fine. what about you? how long have you been trading?
About 18 months, but consistently last 3/4 months.
hey man! was busy lately.
and you're trading forex or anything else?
I traded the recent Bitcoin fall(with JAFX mt4) and did well!!
Information and communications technology (ICT) is an extensional term for information technology (IT) that stresses the role of unified communications and the integration of telecommunications (telephone lines and wireless signals) and computers.
lol.. that's not what ICT means in this forum.
ICT = I Can't Trade
Separate names with a comma.