ICT Forexmas 2014 / Market Maker Series

FTMO Trader Scouting
Tansen said:
4:22 PM [Tansen] So what is it I need to know that would require you to charge me for?
4:23 PM [Tansen] That I can't get anywhere else?
User Rednamalas has entered this room.
4:25 PM [Kitaab] Tansen, the fact that you can get it anywhere else negates the question, so please be my guest and get it somewhere else.
4:27 PM [Tansen] Well I'm about the path of least resistance so if I were to get it anywhere else it would require more searching on my part but if it leads back to you wouldn't it be simpler and a lot more time saving if the end result was to get an answer from you?
4:28 PM [Tansen] Like you said you assist where you can and if you can assist, why is it that you're not keeping your word upon this?
4:29 PM [Kitaab] I assisted, I directed you to the thread to see the charts.


I love how this guy loops his personality and questions with one move.... DODGEEEEEE........ and the best part is where he tries to throw my own logic back at me.
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He's like a spider waiting in his web of lies and bullshit, waiting for a weak-minded victim.

I think he's wise enough to know you're baiting him, and he's playing down the "paid" version. When I came in the first time playing dumb, he thought he had me I think...
 
2:42 PM [quick pipslip] we missed out on the secrets behind that nest of trendlines
2:42 PM [quick pipslip] Red... did his live calls blow you away?
User Rednamalas has signed out.
User Rednamalas has entered this room.
2:43 PM [Rednamalas] no
2:43 PM [quick pipslip] salamander
2:43 PM [Rednamalas] i owe you an apology
2:43 PM [quick pipslip] i just got it
2:44 PM [Rednamalas] haha
2:44 PM [quick pipslip] not too quick am i, after all
2:44 PM [Rednamalas]
2:44 PM [quick pipslip] apologize to who for what?
2:44 PM [Rednamalas] you were probably right about kitaab
2:44 PM [Rednamalas] so im sorry for not backing you up
2:45 PM [quick pipslip] i was just looking for one shred of evidence that he knew anything about profitable trading, and i never got that one shred
2:45 PM [quick pipslip] it was pathetic
2:46 PM [quick pipslip] no apologies needed, this was a good time for me
2:46 PM [Rednamalas] k
2:47 PM [quick pipslip] want directions to my mentor? he'll put you lightyears ahead of the rest, and won't cost you a penny. Ever.
2:47 PM [Rednamalas] what does he teach?
2:47 PM [quick pipslip] price action trading
2:48 PM [Rednamalas] sure
2:49 PM [quick pipslip] he has put out a lot of material over the years, so it can be daunting, i'll give you a link to his video tutorials and his twitter
2:49 PM [Rednamalas] whats his name maybe i've heard of him
2:49 PM [quick pipslip] and want to say again, it is FREE. nobody ever pays, there aren't different levels of access
2:49 PM [quick pipslip] ICT :D
2:49 PM [Rednamalas] okay never heard i think
2:50 PM [quick pipslip] http://theinnercircletra ··· ials.htm
2:50 PM [quick pipslip] https://twitter.com/ICT_ ··· ddleston
2:50 PM [quick pipslip] you seem like a good guy, you deserve to make money without all the bullshit
2:51 PM [Rednamalas] haha thanks man. i'm ready to put in the hours
2:52 PM [Rednamalas] i'l definitely check it out
2:52 PM [Rednamalas] thanks

woohoo, chalk one up for the good guys! :thumbsup:
 
Mike, you have me reviewing my charts from last year and feeling like a moron for not seeing the COT and USDX correlations for all the pairs I traded. Then I went back and overlaid the 10 year bond yield curves and I could see a LOT of missed opportunity. The last vid on institutional stop running is similar to a strategy I pieced together myself but this newfound insight into market direction really has me trading with expectation....and attitude even. Can it really be this simple? And if so, for how long? Market efficiency rules dictate that if too many of us get good at this, the game will change.
 
I wonder about that from time to time as well, and while the Scout Sniper series is great and helped me understand many new things, I'm almost leaning towards shorter term....almost scalping sometimes. But I have no idea, johnnycab said to me it's just a way of reading the market so it's not really possible for the game to change because everyone approaches it differently meaning it's not a trading plan.

edit: missed a word
 
$erenityNow said:
Mike, you have me reviewing my charts from last year and feeling like a moron for not seeing the COT and USDX correlations for all the pairs I traded. Then I went back and overlaid the 10 year bond yield curves and I could see a LOT of missed opportunity. The last vid on institutional stop running is similar to a strategy I pieced together myself but this newfound insight into market direction really has me trading with expectation....and attitude even. Can it really be this simple? And if so, for how long? Market efficiency rules dictate that if too many of us get good at this, the game will change.
Click to expand...

"Can it really be this simple"

well what have you done, in reality? Picked winning trades out in hindsight?

I can show you 100s of pips per week, every week, in hindsight.

That's what I did on my Cable&Fiber setups thread. Looked easy didn't it? That was the point...

Thing is... all the trades I showed were possible (some were even real)... but the truth is I don't find this easy at all. I have very little confidence taking live trades, even after years of study. Things just simply don't work how you expect them to a lot of the time...

also, it really sucks hearing people trading pocket change accounts telling me how it's done...

Load up $25K and then tell me how fucking easy it is :eek:
 
the golden gun said:
the truth is I don't find this easy at all. I have very little confidence taking live trades, even after years of study. Things just simply don't work how you expect them to a lot of the time...
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What's your average holding time? Do you 'time' the trades for LO, NYO?

I'm just curious - you have my experience than me, therefor you know more than me, so I'd love to hear the why behind your thoughts.
 
outthislife said:
What's your average holding time? Do you 'time' the trades for LO, NYO?

I'm just curious - you have my experience than me, therefor you know more than me, so I'd love to hear the why behind your thoughts.
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I try to make winning trades.

Good luck making money following every ICT rule. Check out ICT's big Fiber short.. check the time when he entered it... was it during NYO or LO? lol
 
the golden gun said:
I try to make winning trades.

Good luck making money following every ICT rule. Check out ICT's big Fiber short.. check the time when he entered it... was it during NYO or LO? lol
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Lol but what does that pertain within your system, TGG?

Good luck making money following every ICT rule.
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I'd never follow every rule every day - they're, as he's put it, situational and flexible.
 
outthislife said:
Lol but what does that pertain within your system, TGG?

I'd never follow every rule every day - they're, as he's put it, situational and flexible.
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care to share your Net $ profits from Forex?

Full respect if you say No, but really hoping you lay it out for us.
 
the golden gun said:
care to share your Net $ profits from Forex?

Full respect if you say No, but really hoping you lay it out for us.
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Sorry, no, still learning/practicing and - while I'm doing well so far, it's too early to rely on. I'm just taking it seriously as if everything depended on me to do so.

I've been learning about trading and the financial markets in general for 5 years, but only the past year have I had the time to try it out (and fail). I was relying on 'guts', common patterns, fib levels, et al plebian techniques up until recently. Broke even for too long until ICT - which, has made trading very, very clear to me.

So while I'd love to post something - and I will in the future, absolutely - I can't atm.

I feel like you have a world of insight you could share and I'm trying to get at it, though. Don't think I'm trying to offend you or anything, please. ICT's concepts have clarified many things and I just want to know what I'm missing that you've seen.
 
outthislife said:
Sorry, no, still learning/practicing and - while I'm doing well so far, it's too early to rely on. I'm just taking it seriously as if everything depended on me to do so.

I've been learning about trading and the financial markets in general for 5 years, but only the past year have I had the time to try it out (and fail). I was relying on 'guts', common patterns, fib levels, et al plebian techniques up until recently. Broke even for too long until ICT - which, has made trading very, very clear to me.

So while I'd love to post something - and I will in the future, absolutely - I can't atm.

I feel like you have a world of insight you could share and I'm trying to get at it, though. Don't think I'm trying to offend you or anything, please. ICT's concepts have clarified many things and I just want to know what I'm missing that you've seen.
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I'll tell you the secret, you won't like it though...

All you need is a Horizontal Line, Tight Stops, and a lot of Guts.

Now get to work ;)
 
the golden gun said:
I'll tell you the secret, you won't like it though...

All you need is a Horizontal Line, Tight Stops, and a lot of Guts.

Now get to work ;)
Click to expand...

Lol.

I don't want your secrets - just your experience that powers your fear of trading. Or, rather, the fear of uncertainty.

That's more important than anything else.
 
Both are outstanding points. The psychological difficulties, the day to day grind, the human need for confidence, day to day differences in concentration levels, and all the other hidden things, like some people don't feel like they deserve to win so they self destruct, etc etc. When I demo trade in real time I can make 1k a day trading a variety of Oil, forex, stocks, etc easily. This week I've banged out real dollars of only $500 so far with a real goal of 1500-2000 per week.

I took some losses in Oil last October (going long as the market started to drop and letting my losses run, because of course Oil can't drop that much), one day last September I left the house without a Stop loss in G/U and that afternoon got spanked by the market. All of this after spending a good deal of the prior three years on BP, and knowing better. Late last Oct/Nov I was holding a short in Oil, and was down a good bit as Oil was up for the day, and just as I took my loss at 430 est, the market dropped down to where my TP had been. All of this was being away from ICT's teachings. Why was I even trading Oil to begin with at that point. Focus on Cable, Fiber with an eye on DX. I should have got that down first and then started integrating other things. But human beings make errors for lots of reasons that can really bite you.

I stopped trading in November and went back to the ICT methodologies. I re-watched the videos series, compiled a book of printouts and starting testing again in Forex Tester 2. I've looked at most of my losses and many of them were poor trades - gambles. In my mind, the closest thing to the trading truth is what's been shared by ICT. Off to an OK start for 2015. I'm controlling risk, not really over-trading, I just need to exploit profits more.

The two biggest lessons I've learned so far: 1) learn that its OK to be wrong and take a loss as long as I am controlling risk in accordance with a plan, because I'm right more often. Don't take account crippling losses, take regular trading business losses. 2) ICT principles are best applied together. Time theory, OB's Stops being run, divergence, are great together. I guess number three would be to let wins run. Take profit, lock in BE, and exploit wins in accordance with ICT teachings.



the golden gun said:
"Can it really be this simple"

well what have you done, in reality? Picked winning trades out in hindsight?

I can show you 100s of pips per week, every week, in hindsight.

That's what I did on my Cable&Fiber setups thread. Looked easy didn't it? That was the point...

Thing is... all the trades I showed were possible (some were even real)... but the truth is I don't find this easy at all. I have very little confidence taking live trades, even after years of study. Things just simply don't work how you expect them to a lot of the time...

also, it really sucks hearing people trading pocket change accounts telling me how it's done...

Load up $25K and then tell me how fucking easy it is :eek:
Click to expand...
 
the golden gun said:
"Can it really be this simple"

well what have you done, in reality? Picked winning trades out in hindsight?
Click to expand...

My confidence comes from the live trades I've placed since implementing a few ICT concepts in combination with my own parameters. I'm one of those people that doesn't function well with a demo account. Its gotta be real cash on the line or my war psychology won't be the same. Some can play by hard rules, but the market doesn't play by hard rules. It changes with the economic landscape and risk becomes more dynamic based on those factors, therefore I tend to be dynamic as well. I view Mike's teachings as "plays", but they aren't the entire game. If you are a math geek, his plays definitely throw higher probabilities into your corner though.
 
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