ICT Actual Case Study

FTMO Trader Scouting
radim said:
USD/CAD is strong, crude oil is falling (OPEC). Have anyone recorded ICT session on tuersday night? Thanks

USDCAD reached a nice Daily OB and has been respecting the other consolidations too as per the video.

Currently reaching a nice consolidation at the top too. We could see some easying of the recent rally. Perhaps a correction into the lower consolidation.
 
jupiter_peak said:
It has also reached an untested bullish consolidation and the 79.0 retracemet level. For those who tend to take counter trend trades, there is a nice opportunity to be a buyer there.

A nice ~60pip rally using .50 mid figure, consolidation and OTE.
 

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jupiter_peak said:
USDCAD reached a nice Daily OB and has been respecting the other consolidations too as per the video.

Currently reaching a nice consolidation at the top too. We could see some easying of the recent rally. Perhaps a correction into the lower consolidation.

Quite possibly we will see a turtle soup (fake break) of the 1.1400 highs (too clean) into that bear OB residing above.
 
GBPUSD cleaning out all lower consolidations. And I read someone here mentioning there was no fake breakout of the highs... ;-)
 
jupiter_peak said:
GBPUSD cleaning out all lower consolidations. And I read someone here mentioning there was no fake breakout of the highs... ;-)

It was false breakout, twice :thumbsup:
It depends on what timeframe you watch the chart :)

My trades of the week on GU...
 

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Hi Guys,

First time poster here ... Just discovered ICT a month ago and went through all of the videos in rapido fashion; have also watched most of his recent work posted on You Tube and links to videos tweeted over the last couple of weeks.

I got a little confused along the way as there are so many videos (a number of different series) to go through, various topics covered, and you could say I'm suffering from a severe case of information overload. Thought I'd drop in here and get some friendly advice from the ICT pros as I haven't heard back from Michael despite emailing him a couple of weeks ago.

I actually tried trading live this week and results have been rather poor ... 5 losers in a row including the CADUSD yesterday (I shorted and it and it immediately exploded the other way!).

Guess the main issues I'm having are getting the directional bias right (in the direction of the 9 & 18 EMAs) as well as identifying the key levels of S&R (do we use fractals, series of highs and/ or lows, or order blocks as in more recent videos??). Would appreciate it if any wise owls could steer me along the right path.

Tony
 
tmancini said:
Hi Guys,

First time poster here ... Just discovered ICT a month ago and went through all of the videos in rapido fashion; have also watched most of his recent work posted on You Tube and links to videos tweeted over the last couple of weeks.

I got a little confused along the way as there are so many videos (a number of different series) to go through, various topics covered, and you could say I'm suffering from a severe case of information overload. Thought I'd drop in here and get some friendly advice from the ICT pros as I haven't heard back from Michael despite emailing him a couple of weeks ago.

I actually tried trading live this week and results have been rather poor ... 5 losers in a row including the CADUSD yesterday (I shorted and it and it immediately exploded the other way!).

Guess the main issues I'm having are getting the directional bias right (in the direction of the 9 & 18 EMAs) as well as identifying the key levels of S&R (do we use fractals, series of highs and/ or lows, or order blocks as in more recent videos??). Would appreciate it if any wise owls could steer me along the right path.

Tony

Follow USDX & Fiber for a start... watch all the videos while studying price action on a demo account, then watch all the videos again. it requires a long time to get a grasp of what is going on in the market place. have an educational program in place for yourself, before your business plan

this is why i was looking at sells only late this week
http://fxgears.com/forum/index.php/topic,402.msg10298.html#msg10298

to me, a market structure break, would be this months high possibly

and welcome to the forum
 

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GdayFx - thanks for the sound advice mate ;)
Plan to review some of the videos from the Scout Sniper series this weekend. So much to learn and so much to take in yet so little time. Will study Cable & Fibre for now - not sure how to get the USDX chart on my MT4 yet, and will keep an eye on that other thread too.
Have watched a few early videos on this thread which have been very helpful and interesting to see others trading using the ICT concepts / strategy.
 
tmancini said:
Hi Guys,

First time poster here ... Just discovered ICT a month ago and went through all of the videos in rapido fashion; have also watched most of his recent work posted on You Tube and links to videos tweeted over the last couple of weeks.

I got a little confused along the way as there are so many videos (a number of different series) to go through, various topics covered, and you could say I'm suffering from a severe case of information overload. Thought I'd drop in here and get some friendly advice from the ICT pros as I haven't heard back from Michael despite emailing him a couple of weeks ago.

I actually tried trading live this week and results have been rather poor ... 5 losers in a row including the CADUSD yesterday (I shorted and it and it immediately exploded the other way!).

Guess the main issues I'm having are getting the directional bias right (in the direction of the 9 & 18 EMAs) as well as identifying the key levels of S&R (do we use fractals, series of highs and/ or lows, or order blocks as in more recent videos??). Would appreciate it if any wise owls could steer me along the right path.

Tony

Tony, I recommend you start here!
http://fxgears.com/forum/index.php/topic,410.msg7213.html#msg7213
 
tmancini said:
Hi Guys,

First time poster here ... Just discovered ICT a month ago and went through all of the videos in rapido fashion; have also watched most of his recent work posted on You Tube and links to videos tweeted over the last couple of weeks.

I got a little confused along the way as there are so many videos (a number of different series) to go through, various topics covered, and you could say I'm suffering from a severe case of information overload. Thought I'd drop in here and get some friendly advice from the ICT pros as I haven't heard back from Michael despite emailing him a couple of weeks ago.

I actually tried trading live this week and results have been rather poor ... 5 losers in a row including the CADUSD yesterday (I shorted and it and it immediately exploded the other way!).

Guess the main issues I'm having are getting the directional bias right (in the direction of the 9 & 18 EMAs) as well as identifying the key levels of S&R (do we use fractals, series of highs and/ or lows, or order blocks as in more recent videos??). Would appreciate it if any wise owls could steer me along the right path.

Tony

A whole chain of problems:

1) You, very likely, haven't "gotten" the Key Points to ICT Style. It's in the first 6 videos, but Risk Management & Handling Trading Psychology are going to be your first issues.

2) Why are you trading live funds? This isn't a "Get Rich Quick" scheme nor skill. It's going to take TIME. Stop trading Live Funds with it.

3) If you made it through all of the videos, that quickly, then you've missed a significant portion of the work necessary to trade ICT Style. Go back through the First 6 videos and take Notes. If you've rushed through it that quickly, you're going to get blown up by your inability to handle Risk Downscaling properly.

4) 9/18 EMAs for D1 & H4 Filter on the current day; 18/40 EMA for the current Trend (only if expanding; crossover is meaningless). Those are simply filters. Actual "Daily Bias" is eventually learned from current Price Action and previous Price Action. That will take work. But the EMAs + Market Structure will keep you in the proper direction far more likely.
 
ovidiux said:
It was false breakout, twice :thumbsup:
It depends on what timeframe you watch the chart :)

My trades of the week on GU...

The first break out would have stopped you out if you were thinking to a turtle soup, plus the high/low of the week is on Thursday/Friday, completely the opposite in respect to the assumed rule (high/low before Wednesday morning). I woulnd't take everything for granted, it can miserably fail. Obviously the analysis has to be deep and well experienced, hence no holy grail. You can still have very long losing streaks, so watch out your risk.
 
sqa & syzygus009 - thank you for replying.

Looks like I have a lot more homework to do than I thought ...

1) Possibly and going back over the videos.
2) Been trading part-time for a couple of years ... I'm trading £1 per point with 30 pt stop loss, so risk was managed. I prefer learning this way rather than simply putting on demo trades.
3) Filtered using the EMA approach but think I lost the plot when I drilled into the 15M and 5M charts.

Thanks again for your help and advice ... still have lots of learning to do.

Tony
 
tmancini said:
sqa & syzygus009 - thank you for replying.

Looks like I have a lot more homework to do than I thought ...

1) Possibly and going back over the videos.
2) Been trading part-time for a couple of years ... I'm trading £1 per point with 30 pt stop loss, so risk was managed. I prefer learning this way rather than simply putting on demo trades.
3) Filtered using the EMA approach but think I lost the plot when I drilled into the 15M and 5M charts.

Thanks again for your help and advice ... still have lots of learning to do.

Tony

If you've already been trading Live Funds previously, it'll probably take a year. Even with the incoming Market Maker Series. Most seem to need 2-4 years of experience to finally "get" it. The style is total different and, eventually, you need to be trading with no aids but your skills. That's the hard part.

Which is why it takes so much time to unwind the assumptions & practices that make your previous trading far less profitable than you would hope.
 
marzullo63 said:
The first break out would have stopped you out if you were thinking to a turtle soup, plus the high/low of the week is on Thursday/Friday, completely the opposite in respect to the assumed rule (high/low before Wednesday morning). I woulnd't take everything for granted, it can miserably fail. Obviously the analysis has to be deep and well experienced, hence no holy grail. You can still have very long losing streaks, so watch out your risk.
It took almost a year for me to be able to not be so rigid when it comes to understanding ICT teachings, understanding that there are several kinds of tourtle soup (among other things) :) I still have difficulties, but I'm focusing on what I understand now.
After almost any consolidation (in a bearish trend) I sell short after a breakout above into a bearish order block noticed before. In this case I've waited the price to take the stops at 1.5735 and then reach the H1 OB at 1.5800-20. Also I don't expect price to stop if it hasn't traded much above in the recent past.
I sold at 1.5800, but later I got out with a loss of 1 pip because in the consolidation formed at that level, I saw the clues in the wicks that Michael was talking about in the last webinar, and then waited for another breakout wich happened.

We must have our own alalisys first, and then "NOT take everything for granted".
I want to thank Michael and Mauro for sharing their great insights! I see how my laziness brings me 7 consecutive losses (last week), and how using my head and questioning others ideas brings me bigger profits. :)
 
ovidiux said:
It took almost a year for me to be able to not be so rigid when it comes to understanding ICT teachings, understanding that there are several kinds of tourtle soup (among other things) :) I still have difficulties, but I'm focusing on what I understand now.
After almost any consolidation (in a bearish trend) I sell short after a breakout above into a bearish order block noticed before. In this case I've waited the price to take the stops at 1.5735 and then reach the H1 OB at 1.5800-20. Also I don't expect price to stop if it hasn't traded much above in the recent past.
I sold at 1.5800, but later I got out with a loss of 1 pip because in the consolidation formed at that level, I saw the clues in the wicks that Michael was talking about in the last webinar, and then waited for another breakout wich happened.

We must have our own alalisys first, and then "NOT take everything for granted".
I want to thank Michael and Mauro for sharing their great insights! I see how my laziness brings me 7 consecutive losses (last week), and how using my head and questioning others ideas brings me bigger profits. :)

There was an order block much earlier, at 1.5759 which could have been considered a sell, if you sold there, loss.
 
marzullo63 said:
There was an order block much earlier, at 1.5759 which could have been considered a sell, if you sold there, loss.

they worked that block pretty heavily on the way down. but I understand your frustration. I think price was really motivated to clear above 5800, due to that old low @ 5790
 
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