ICT Homework thread

Discussion in 'Interactive Trading' started by proximitymines, Mar 20, 2015.

  1. proximitymines

    proximitymines Well-Known Member

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    OTE needs to be at the 62-79 retracement level. I see that you're using the 21-38 level for simplicity's sake but you're neglecting the idea of a retracement. When you're drawing from high to low, you can only short. When you draw for low to high, you can only long. You drew from high to low and you're longing. I hope that made sense. I'm good at understanding things but not so great at explaining them.

    I think ICT took the trade because of USDX only. See my pic for details. He saw what I indicated on my picture and put in 2 trades consecutively one after another on the demo. I can't say which one would be a better pick. I think I would personally pick EUR over GBP because of its bullish structure.
     

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  2. proximitymines

    proximitymines Well-Known Member

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    Why are we still following him then?
    I believe what he teaches is useful. I'm just not applying it "right." He is a bit sketchy at times with release dates and promises, but bottom line is we're not paying for anything and at the very least we all enjoy price charts. It's a hobby of mine and I'll probably stick with it for awhile. It'd be nice to make money but looking at it and playing it like a game is fun for me. I've lost quite a bit on forex but I'm definitely learning. My biggest mistake is STILL chasing price and trying to double my account each week. I've caught price very precisely many times capturing the majority of the range and guessed what would happen ahead of time. If I can correct myself and curb my greed, I think I can win at this. The thing you gotta know about this is that winners are exponentially more wealthy. If you're 1% better, you'll win 100% more. The slightest mistake will make you break even. Somehow in my trusting nature, I do believe our mentor is a true winner. And if not, I'll debunk the myth that no one wins at forex myself... eventually! :)
     
  3. Computater707

    Computater707 Well-Known Member

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    Proximitymines- Thanks for the feed back. I understand your explanation. My understanding and use of fibs has been influenced by Bobokus and Simone Guy. My fibs are set up to always be drawn from high to low. I drew the fibs across the swing that preceded ICT's entry to see how I would have evaluated that trade opportunity. My directional bias would have been short not long because of preceding price action and particularly so since the retracement on both pairs was only to the pivot. I can understand why it appeared incorrect to you.

    Your point of the trade being based on the USDX is a good one.
     
  4. the golden gun

    the golden gun RINSE & REPEAT

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    the answer is no, but it has nothing to do with ICT.
    anyone that is a "follower" in this business has already lost. independence is the name of the game, and while there's nothing wrong with watching his videos and learning his perspective on price movements, there is something seriously damaging about hanging on his every word and worrying about following every little rule that you think he has. get in the charts, trade when the markets are moving, and keep your stops tight... and you will make money. adapt and learn as you go, and you'll make more money.
     
  5. TopFroxx

    TopFroxx Well-Known Member

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    good post.


    p.s. where is the like button jack? dont want to reply to every bit i agree with on the forums
     
  6. sqa

    sqa Village Scribe

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    Froxx lives!
     
  7. the golden gun

    the golden gun RINSE & REPEAT

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    thx froxx, what is that wolf saying??
     
  8. TopFroxx

    TopFroxx Well-Known Member

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    just away from chat, and also twitter and forums mostly. focusing and putting in the work.

     

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  9. six3six

    six3six Active Member

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    yea, I'd like to like this comment but had to quote it instead =\
     
  10. gatetrader@gmail.com

    gatetrader@gmail.com New Member

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    ICT posted entries appear to be all London Open placed, Fiber entry occurs after order block test of move created by FOMC notes. This created a liquidity void on the rapid rise to 1.10 area top then retracement to OB. the London open was higher low of a possible market structure buying model. This again occuring in LO. use of SMT tool from ICT showing relative strength based to Cable. Target in area of high for ADR. Cable similar market structure inclusingtest of OB of previous days low. Exit will wait for ICTs cover. Other ICT tools mentioned prevously. 1997 to 2003 not yet discussed in this series would have given very bullish bias to cable and fiber at LO, or more accurate a bearish bias to dollar. All stated great tool use as ICT has shared in his mentorship. Thanks Gate
     
  11. sqa

    sqa Village Scribe

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    While I agree, he put in the Demo entries the day before, so I think he was trolling us a little with the Demo side of things. Those were going to be the sensitive levels the next day. I think he was having some fun at our expense.
     
  12. garry

    garry the art of war

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    yes you could be right :eek:
     
  13. pipmart

    pipmart Well-Known Member

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    Is anyone here following ICT's myfxbook link? He used to have it linked to his twitter account but I couldn't seem to find it...
     
  14. Computater707

    Computater707 Well-Known Member

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    http://www.myfxbook.com/members/AverageJoeToPro/ict-simtrader/1349825
     
  15. pipmart

    pipmart Well-Known Member

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    Thanks Computater. I check in every once in a while...

    Ict's fxbook isn't look to great... :(
     
  16. jack

    jack Administrator Staff Member

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    Did he ever end up posting it?
     
  17. jonnycab

    jonnycab Well-Known Member

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    its the link above

    some bullshit demo account

    its one of the most pathetic things ive ever seen :))

    the dog and pony show continues...
     
  18. Golden Bull

    Golden Bull We got cookies

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    It's all on purpose! :p As always.. :D
    [​IMG]

    -P
     
  19. rod178

    rod178 Well-Known Member

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    Piper, are you still Fibbing?
     
  20. Golden Bull

    Golden Bull We got cookies

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    Rod,are you still fapping on ICT..? 8)

    -P
     

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