ICT Forexmas 2014 / Market Maker Series

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SLT said:
The psychological aspect of this career is the biggest tool you need to learn how to use, your brain! Know yourself better than you know the market, because the market will see you first!
This is why I think 99% of traders fail. They try to blame the "system", "world events", "Mentors", "( >:D insert your own demon >:D)". It is easy to justify and blame something or someone else rather then look in the mirror at the real reason for lack of success! It has taken me over 5 years to even start to get to know myself better. Patience has been the hardest struggle. This forum should be for the like minded traders :) to support each other not argue all the time :). If you don't like the teachings of ICT turn off you computer and move on to something else :durr:.
 
Drop the emotions guys... I have only 1 thing to offer (not advertising):

http://www.amazon.com/One-Good-Trade-Competitive-Proprietary/dp/0470529407/ref=sr_1_1?ie=UTF8&qid=1419767705&sr=8-1&keywords=one+good+trade

It's just a good read about the kind of traits that succeeds in trading, pun intended. :) :)
 
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My opinion: the delay is unintentional...he is OCD after all lol. Whether intentional or not, ICT is doing a great job at weeding out the impatient...the village hecklers lol. What I really don't understand is people who put so much negative energy out against someone they claim they don't like/follow/agree with, making a childish scene on the internet about it, you can easily put that energy towards something productive. No one's asking you to agree, follow or use his methods. ICT has also stated many times he did not create/discover all the methods he teaches. So many posts in this thread and others that can easily be refuted but aint nobody got time fo dat

btw...live session after live session...not hindsight
 
Who can not wait for the moment the videos are ready for download, as a trader, you can not expect the the price go into an OB.
Learn, is not his will, is when you can.
 
Peterma said:
So which will it be do you think?.
Not really guessing. Trade what you see. I'm sure in all that mumbo jumbo theres a concrete trade. I just have trouble of seeing it. :)
Watching the funny mentals is for losers. The news has nothing to do with it. It is an excuse to run price , jam up the retail traders, open the spread and blow those out running short on the edge of their margin.

Peterma said:
Could I just add to the mix, 24 hrs later we have the CNY manufacturing PMI (non HSBC) - so what happens if it is negative also - in a thin market. You know how the market has a liking, or not, for these numbers.

Then of course the week will close on a high - the respected ISM data.

Lol, don't even know why I'm engaging, must be this Christmas high.

Piper, keep it simple, just buy the S&P, it may fall back a little, if so then simply add, if it's USD/JPY then buy at 119.55 if it (likely) pulls back - either way in a thin market no SL - that's how the cookie crumbles.

As you rightly say, put up or shut up.
Get your head wrapped around this: The forex market and indice news has absolutely nothing to do with the direction of the game. There is a 5 day plan that starts to execute on Sunday night open and runs for the entire week. DT and DB setups will trump everything else in forex. Catch these and you get to win. Support and resistance rules this game. They test and retest the price to the "left side of the hard right edge..."

-P
 
Piper said:
Not really guessing. Trade what you see. I'm sure in all that mumbo jumbo theres a concrete trade. I just have trouble of seeing it. :)
Watching the funny mentals is for losers. The news has nothing to do with it. It is an excuse to run price , jam up the retail traders, open the spread and blow those out running short on the edge of their margin.

Lol, I love the "mumbo jumbo" part, I'm guessing jamming up means forcing retail into dd, margin calls for retail are set up by the bookies (sorry, some call them brokers).

Last time I recall institutional margin calls, man I hate even thinking about it, was the dot com bust.

It's often wise to not discount any market discipline, but hey, it's a free market, well it's supposed to be.

The reference to the China data in my post was the fact that HSBC data is accepted by the market as bona fide, the Govt data is often disregarded - case in point actually occurred this morning:
http://www.forexlive.com/blog/2014/12/28/the-mystery-of-the-disappearing-chinese-2014-trade-growth-data/

The quote at the bottom about head wrapping, I don't agree with the addition of the two words "and indice" from the older quote back in 2011, but maybe Shopster has changed it to include those.

Anyways, wrong topic, wrong thread, apologies to thread starter, I'm away back to my mumbo jumbo Lol :)
 
Peterma said:
Lol, I love the "mumbo jumbo" part, I'm guessing jamming up means forcing retail into dd, margin calls for retail are set up by the bookies (sorry, some call them brokers).

Last time I recall institutional margin calls, man I hate even thinking about it, was the dot com bust.

It's often wise to not discount any market discipline, but hey, it's a free market, well it's supposed to be.

The reference to the China data in my post was the fact that HSBC data is accepted by the market as bona fide, the Govt data is often disregarded - case in point actually occurred this morning:
http://www.forexlive.com/blog/2014/12/28/the-mystery-of-the-disappearing-chinese-2014-trade-growth-data/

The quote at the bottom about head wrapping, I don't agree with the addition of the two words "and indice" from the older quote back in 2011, but maybe Shopster has changed it to include those.

Anyways, wrong topic, wrong thread, apologies to thread starter, I'm away back to my mumbo jumbo Lol :)

Don't take the mumbo jumbo personally.. Its just made my head swirl. ;) And i'm defiantly not discounting your point of market view, i just rather assume the mentorings about the SP500 from an original gunman who was trading it even back in the pits(all markets trade the same) with some damn magical results(i think you can find here a few threads about 'em). But what does he know.. Right? :p Anyways. Good point, wrong time wrong thread. Have a happy new year.

As to you hanger,if you ever decide to return to the arena i would suggest to you to work on your mental skills.A few points that might be of interest to you:

1. Recognize your repetitive patterns of trading. Be aware of your life
principles and preconceptions and how much they may be behind
your trading decisions. At the very least, these principles provide a
frame of reference from which emerge your marketing decisions.
2. Let go of the defenses of denial and rationalization that minimize
mistakes. Begin to recognize the value of reviewing the previous
day's trading. This can help you discern patterns of trading that may
reflect an underlying perspective which, though reassuring, demonstrates
that you aren't trading to win.
3. Read the market, and follow it rather than your ego, needs, life principles,
and notions about what you deserve or don't deserve. Notice
how long-standing beliefs about yourself and the world come into
play in the middle of action. Notice how they trigger old attitudes,
resistance, and automatic responses—such that you are in the grip
of what others are doing.
4. Develop purpose to your trading—commit to playing to win. Play at
a committed level of responsibility in terms of producing specific results,
doing what it takes to reach objectives, developing self-mastery,
and following trading and money management rules.

-Trading to win

May we all have a better new year then the last one!!!!
Happy New Year Evrybody!!!! :cashjump: :party: :pbnj: :drinking:
Cheers
-P
 
@ PH - May I add to Piper's excellent advices.

I speak from experience, numbers much larger than GG talks about, I mentioned earlier, you are stepping back which is good. The next step is to recognize that the word GG used "encounter" is the correct one, you have not suffered a loss, merely encountered one.

The final step, when you become ready, is to agree with yourself that any loss is no longer your loss, you do not own it, it is left behind, gone, not to be learned from, not detailed in any journal, not thought about, mulled over, even remembered - it is past, finished - dead.

There will likely be a chorus saying it must be learned from etc etc, wait until those guys really encounter negative numbers, then let them tell you how to handle it.

Do these things and your future trading will be ruled, not by fear, but with confidence. The learning part will take care of itself. Gains will be your encounter.

@ Piper, I learned a long time ago to take nothing in the market personally, I enjoyed your post immensely. FX can indeed be a game, one that many lose especially retail.

Manipulators, as referred to by Richard Wyckoff, play by different rules than us retail, I mentioned USD/JPY in my first post, and the level 119.50, I see those guys took that level with little difficulty even though it was over 100 pips away, they took most the stops below that number but didn't quite manage below the 119.00

Happy New Year to all you guys, let it be prosperous.
 
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