Scout Sniper Basic Field Guide - InnerCircleTrader

Sage1

Active Member
Hi all,

I'm a long time trader that started following ICT 2 years ago. Let's just say things didn't go too well because I let emotions get in the way which resulted in my account going from 100% to 10% of my initial amount.

However, initially (before I let stupidity get in the way), I was up 5% of my first month trading real money (which was alright for a newbie). Before going live, I traded 2 months solely ICT principles on Demo. The results were 24% on Month #1 and 39% on Month #2.

So what am I doing now? D-E-M-O!!! I decided not to give up because I believe that with enough knowledge, practice and patience, anyone can do anything.

In any case, enough with the intro. I'm looking at this:

EMA's are bearish for eur/usd on daily
Fib showing OTE (went up to 79% retracement - so far)
Order block located at 1.3413 to 1.3433
Big fig. 1.3400
Trade has moved away from Asian range up, in line with Short Bias
Of course not to mention, Market flow & structure is bearish
Killzone: NY/LC
Stochastic divergence (on chart)

Therefore, short? - I am in at 1.3400 on demo account.

*I use Bloomberg at work (I'm a professional of the industry), MT4 at home
 

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dougl1965

Well-Known Member
I'd like to hear what people think (long or short from here on the EURUSD)...I'm looking short based off the 4hr chart and I could be wrong?
 

Sage1

Active Member
walshman said:
I drew a fib on the daily chart from Sept 6 low to Oct 25 high. We are in the sweet zone right now. Anyone think we could see this trend back up? :ponder: :ponder:
Only thing is market structure is bearish... I'm no pro but I am looking for shorts right now.
 

Tansen

Well-Known Member
Sage1 said:
Hi all,

I'm a long time trader that started following ICT 2 years ago. Let's just say things didn't go too well because I let emotions get in the way which resulted in my account going from 100% to 10% of my initial amount.

However, initially (before I let stupidity get in the way), I was up 5% of my first month trading real money (which was alright for a newbie). Before going live, I traded 2 months solely ICT principles on Demo. The results were 24% on Month #1 and 39% on Month #2.

So what am I doing now? D-E-M-O!!! I decided not to give up because I believe that with enough knowledge, practice and patience, anyone can do anything.

In any case, enough with the intro. I'm looking at this:

EMA's are bearish for eur/usd on daily
Fib showing OTE (went up to 79% retracement - so far)
Order block located at 1.3413 to 1.3433
Big fig. 1.3400
Trade has moved away from Asian range up, in line with Short Bias
Of course not to mention, Market flow & structure is bearish
Killzone: NY/LC
Stochastic divergence (on chart)

Therefore, short? - I am in at 1.3400 on demo account.

*I use Bloomberg at work (I'm a professional of the industry), MT4 at home

I'm short based on two major reasons, 1. I saw some alleviation of Shorts on the EUR shorts, which would mean distribution, or intended (could be or could just be I'm over stepping my guessing), and secondly bonds with that sharp whip that should cause the dollar to rise which it did last week. So As of now I am looking for shorts as well.
 

dougl1965

Well-Known Member
Sage,
Nice summary...sorry I just spotted your post.
We're all waiting for that lightbulb to go on. With me its back and forth... we'll get there.
dougl

Sage1 said:
Hi all,

I'm a long time trader that started following ICT 2 years ago. Let's just say things didn't go too well because I let emotions get in the way which resulted in my account going from 100% to 10% of my initial amount.

However, initially (before I let stupidity get in the way), I was up 5% of my first month trading real money (which was alright for a newbie). Before going live, I traded 2 months solely ICT principles on Demo. The results were 24% on Month #1 and 39% on Month #2.

So what am I doing now? D-E-M-O!!! I decided not to give up because I believe that with enough knowledge, practice and patience, anyone can do anything.

In any case, enough with the intro. I'm looking at this:

EMA's are bearish for eur/usd on daily
Fib showing OTE (went up to 79% retracement - so far)
Order block located at 1.3413 to 1.3433
Big fig. 1.3400
Trade has moved away from Asian range up, in line with Short Bias
Of course not to mention, Market flow & structure is bearish
Killzone: NY/LC
Stochastic divergence (on chart)

Therefore, short? - I am in at 1.3400 on demo account.

*I use Bloomberg at work (I'm a professional of the industry), MT4 at home
 

Tansen

Well-Known Member
Sage1 said:
What do you mean? Where did you see this?
EURO FX - CHICAGO MERCANTILE EXCHANGE Code-099741
FUTURES ONLY POSITIONS AS OF 11/05/13 |
--------------------------------------------------------------| NONREPORTABLE
NON-COMMERCIAL | COMMERCIAL | TOTAL | POSITIONS
--------------------------|-----------------|-----------------|-----------------
LONG | SHORT |SPREADS | LONG | SHORT | LONG | SHORT | LONG | SHORT
--------------------------------------------------------------------------------
(CONTRACTS OF EUR 125,000) OPEN INTEREST: 252,554
COMMITMENTS
103,333 70,190 6,975 93,269 124,922 203,577 202,087 48,977 50,467

CHANGES FROM 10/29/13 (CHANGE IN OPEN INTEREST: -30,369)
-32,721 4,753 1,167 5,807 -31,418 -25,747 -25,498 -4,622 -4,871


The week before this it was almost 1:2 for longs to shorts. It's equalized right now but, something's gotta give. Either their releasing the shorts since we see a huge chunk being taken off on the short side or were collecting for both sides to see what happens.
 

Sage1

Active Member
Ok didn't realize you were referring to the COT report. I am pulling it up on Bloomberg as we speak...

Also, note the bearish divergence on the Yields! We have a lot of confluences for a down move.

P.S. how long until my posts aren't going to be reviewed by a moderator?
 

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Tansen

Well-Known Member
Sage1 said:
Ok didn't realize you were referring to the COT report. I am pulling it up on Bloomberg as we speak...

Also, note the bearish divergence on the Yields! We have a lot of confluences for a down move.

P.S. how long until my posts aren't going to be reviewed by a moderator?
Your 1 away lol. It's 5
 

Sage1

Active Member
I was going through some of my ICT files from back in the day and found this.

It could be helpful for understanding divergence. I actually printed it and looked at it at first (now my eye sees this right away).
 

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Tansen

Well-Known Member
Sage1 said:
I was going through some of my ICT files from back in the day and found this.

It could be helpful for understanding divergence. I actually printed it and looked at it at first (now my eye sees this right away).
Thank you lol, saves me from having to do the work
 

Sage1

Active Member
Tansen said:
Thank you lol, saves me from having to do the work
I also have most of his 25 days of ForexMas video series, session trading series (LO, NY, LC, Asian), core concepts videos, trading plan series, pre-flight checklist.. I won't post any of that since I don't want to confuse people (myself included) and it's not my thread (I'm a bad student - why let me confuse you).

Right now I have to look at it realistically, I live in the NY time zone and have a job. I can't trade LO because then I just won't be rested. I work in Capital Markets so I do a lot of hours/week. However, on the bright side, I can look and manage the trade at work. The kill zones I can look at are NY, LC and Asian (which I hope will make up for it).

So therefore, I will attempt at making a 1 shot 1 kill, weekly range type of trade. So basically 1-2 trades/week. Hopefully, I can crawl out of the doo-doo I stepped into.

As we speak, I have 1 trade open (on demo only for now).
Short EUR/USD @ 1.3410 (I originally posted 1.3400 (I closed that at BE+2 and got back in at 1.3410 since that was approx. the .79% retracement level if we look at Friday's range).

My SL is 40 pips (giving it slightly more room to breathe) @ 1.3450
My TP is 150 pips (1.62% retracement level taken from Friday's low to today's high - rounded off) - this is also lower than the low on Thursday (which could be a good stop sweep)

We will see how this pans out for the week. I will set limits (entries, SLs and TPs) to run during LO since I will be sleeping.

I still haven't decided how I will manage profit taking and ICT touched on that during the latest Scout Sniper video. Back in the day I used to take 1/2 at 30 and put SL to BE+1, then let rest run until my final profit target. This time around we will see.*

I hope I can finally develop the discipline this time.

Good luck out there everyone. +15 pips so far :)

*Hardest part for me: letting profits run!
 

Tansen

Well-Known Member
Sage1 said:
As we speak, I have 1 trade open (on demo only for now).
Short EUR/USD @ 1.3410 (I originally posted 1.3400 (I closed that at BE+2 and got back in at 1.3410 since that was approx. the .79% retracement level if we look at Friday's range).

My SL is 40 pips (giving it slightly more room to breathe) @ 1.3450
My TP is 150 pips (1.62% retracement level taken from Friday's low to today's high - rounded off) - this is also lower than the low on Thursday (which could be a good stop sweep)

*Hardest part for me: letting profits run!
What a coincidence lol... I'm sitting at 1.3411 with a 12 pip stop but im waiting for another 520 pip.
 

Skipper

Demo trader - Learning everyday
Tansen said:
What a coincidence lol... I'm sitting at 1.3411 with a 12 pip stop but im waiting for another 520 pip.
I've shorted yesterday just a bit lower than 1.134. Maybe got in too early, but it was a bendin order so what can you do? ... Tick, tick :)
 

kongzz

Well-Known Member
my setup for the week.
short eur at around 1.3470
1) previous monthly S/R
2) daily order block
3) bearish flow/structure
4) OTE
will be watching for pivots/stochs div intra day
 

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dougl1965

Well-Known Member
Kongzz,
I think that's definitely a viable setup. I'm trying to go short one more time on the 4hr fib but if it makes it up to the daily fib entry, I'll be shorting there.
dougl
 

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