Scout Sniper Basic Field Guide - InnerCircleTrader

cskrishna

Well-Known Member
All,
I could not make it to today's presentation of ICT. Can you please share either the chat or of any information about the presentation.
Thank you so much
 

Tansen

Well-Known Member
cskrishna said:
All,
I could not make it to today's presentation of ICT. Can you please share either the chat or of any information about the presentation.
Thank you so much
I got in late, I was told there's another one tomorrow?

All I learned was that trading can be a career, also depending on your goal, if you make it with focus.
 

cskrishna

Well-Known Member
Thank you, Tansen.
Tansen said:
I got in late, I was told there's another one tomorrow?

All I learned was that trading can be a career, also depending on your goal, if you make it with focus.
 

sqa

Village Scribe
Because it was a "Z-day" or "Seek & Destroy" trading day for the Fiber & Cable, that's mostly what we mapped out.

Really a bit random today, as the market just wasn't up to much, even after the news. Though "Yellen Yellin'" was funny. But sometime this weekend (technically Sunday late Eastern USA), ICT will release all 3 sections of "Advanced Price Action".

It should operate, I think I caught this right, as both an advanced explanation of Price Action but "open" to the neophyte to understand as well. It's also apparently something he's come up with to help teach his son.
 

Hopiplaka

My thanks go out to ICT - the life changer
GdayFx said:
Pop Quiz - Who can tell me what is wrong with this picture?
Fiber made lower low into liquidity pool, fast rejection.
USD failed to make a higher high = SMT divergence.
Can also be seen between EU and GU (GU failed to make lower low)

USD will probably drop in my opinion, EUR and GBP up.
 

Hopiplaka

My thanks go out to ICT - the life changer
Hopiplaka said:
Fiber made lower low into liquidity pool, fast rejection.
USD failed to make a higher high = SMT divergence.
Can also be seen between EU and GU (GU failed to make lower low)

USD will probably drop in my opinion, EUR and GBP up.
Some graphs to clear things up. SMT divergence between GU and EU. Nice reflection pattern to the pip in EU, nice OTE pattern into the sweet spot for GU.
Also see how the GU respected the previous dealer range, and the Buy STD1 and sell STD3 for take profit.

Skyrocket from there.

I'm very new to the dealer range thingy, but we reached STD3 (blew it on EU).
In sqa's notes from the live session, ICT said: when we reach STD3, we have a high probability to see a LC reversal. So I'm sideline now because of FOMC.
 

Attachments

sqa

Village Scribe
The move down was the Reversal Profile setup. It hit 3 Standard Deviations before 10 GMT.

Though I hope ICT gets that Webinar up soon. That Reversal Profile discussion came VERY fast, so I'm not sure my notes are perfect.
 

jack

Administrator
Staff member
FYI, the chat is back online.

Still a day or two away from going official.. but I'd like to stress test the server again now that we're running on the new hardware I was talking about.

Please feel free to use the chat... but I ask you don't spread the link around online just yet. Keep it to ourselves. :)

http://fxgears.com/forum/chat/
 

fred9455

Well-Known Member
they are from the live session when he taught about the dealer ranges. I believe sqa has the links to the downloads posted.
 

slugFX

Well-Known Member
fred9455 said:
they are from the live session when he taught about the dealer ranges. I believe sqa has the links to the downloads posted.
Can I please have those links? Did ICT post them as well or sqa recorded them himself?

Thanks.
 

sqa

Village Scribe
slugFX said:
Can I please have those links? Did ICT post them as well or sqa recorded them himself?

Thanks.
http://fxgears.com/forum/index.php/topic,226.msg4324.html#msg4324

Start there, scroll through, for the links. Also, check ICT's twitter feed.
 

slugFX

Well-Known Member
I'm all over the twitter feed, but hmm I don't recall him talking about standard deviations in the Precision Trading series..
 

fred9455

Well-Known Member
Here are sqa's notes from the session.

Live Stream 2014-04-28 Notes.

Note: this was supposed to be 2 hours. It hit around 4.5 hours. :eek:

Quote
Central Bank Dealer's Range & "Little Known Strategy" for growing a small account quickly.

Dealer's Range lets you look "behind" Price Action.

Pre-analysis HTF helps a lot, but isn't necessary.

All pairs have "fake out" moves, no matter the volatility. Judas Swings.

When looking at Price, where is the Potential Area of "Stop Loss Orders". Cluster or Congregation of Orders. "Clean Levels".

Raids have "speed". When Price trades cleanly and then falls off, it's a sign of Liquidity.

Gauging where a potential large reaction levels with technical analysis.

And how to use the Sunday Range.

Use both Friday & "Sunday"/Monday as your Dealer's Range.

Picture #1, covering in case ICT screws up the recording. :)

Majority of movement is London Open to London Close.

Reversal Patterns during NYO are on Higher Time Frame analysis.

How do we arrive at London giving you High or Low for the Day?

During Dealer's Range, it's a bad idea to take a trade during it.

Don't think that the Next Setup happens in the Dealer's Range.

"When Not to Trade" is incredibly important, which reminds you not to take trades during this Range.

2 Approaches:

1 Standard Deviation: Boxes on Top/Bottom.
Banks are looking for where the Stops & Liquidity?

Got to talk to a Pro Poker Player. The players have a niche for exploiting the Game. They know how to Maximize their Risk:Reward when it's available.

Knowing your Edge, and how to apply it, is how to make it when the Odds are against you. The Game Changer.

This happens every day. 10k challenge still open. :)

He will call the Dealer's Ranges as "Buy Window" or "Sell Window".

No crystal ball for which way it will go first. But Higher Time Frame gives you a higher probability to know which way it will move first.

Thanks Chris Lori for Asian Range, helps set the rest of the day.

Power of Three coverages. Discussing Weekly Order Flow, Blocks, trading against them is risky.

I'm a Buyer: Where is my Stop Loss?
I'm a Seller: Where's my Stop Loss?
I'm trading a Breakout: Where's my Buy Order?
I'm trading a Breakout: Where's my Sell Order?

Ask yourself that daily, will help a lot.

ICT doesn't want you to trust him; he wants you to Trust Yourself. Getting to that level on your own is the point of all of this.

ICT wants to see others do well with this, as he's made his money.

Very lonely work, and, even making money, is actually pretty boring.

If you don't come to the conclusion on your own, you're hurting yourself. If someone else comes up with the Trade, you train yourself to follow, like a dog.

Picture #2 - What Setups you are looking for in each of these.

Asian Range is useful in a lot of ways, but Dealer's Range is where it's at.

ICT London Open: 6 to 10 GMT, then 7:30 to 8:30 GMT.

Picture #3: Do you want to Buy that? But that's where the Fair Price is at. This is HARD to learn. (003.bmp)

Lazy Pays ICT: you want the Lazy to pay you!

Normally an Order Block from NYO.

DO NOT TRY TO TRADE THE DEALER'S RANGE FOR A MONTH! Note it for yourself, and do that for a Month.

Don't make mental mile markers of Defeat. Use it as an exercise.

Large Range Days start with a move away from the Open. Question is "Where"? That's what we're working to learn here.

Price in the Window will still go to a Fib level, through Stops and to Order Blocks.

Be driven by a Process, not by Greed. You don't, however, know how much Money is available. You want to get to be friends with Price Action.

What Price Action doesn't like is more important than what it does Like.

Do not Chase Price. Take the Money out of the exercises until you learn. Study it.

If you have a Bullish Market, You do NOT want to focus on any Short Selling.

If you're making money/pips on Shorts, you convince yourself you're analysis was wrong.

How often have you stuck with the Higher Time Frame Analysis and WAITED for it?

If you have no opportunity for you to be up at London, you can place HTF-trend analysis to place Limit Orders at Midnight GMT. ICT favors -5 to -10 below ADR for an exit. Don't so demanding on exit.

Do NOT watch your equity if you're looking for the ADR. You will convince yourself out of your targets.

In Day Trading, Larry Williams taught to hold for the ADR as much as you can.

Day Trading, 1500-1600 GMT is when you look to take profit.


Parent Price Swing concept. This is why previous day's High & Lows.

We take Profits around Time & Price because it can close back to the Dealer's Range on any day.



Explosive Days/larger ADR days. Use 2 Standard Deviations. That's what we do.

Go back in your charts on the pairs of your choice. Study Days that had massive Ranges. Use 1 STD then 2 STD.


Can be wrong, but there's a set of reasons why it breaks down.

When D1 Chart doesn't give a "good" Order Block, look for it in the H4 Chart in the move after.


Will never "Swing" more than 2 STD, otherwise it's an explosive Pip day.


Always refer to where you are in the Current Trading Range.

Showed it works on GBP-CHF.

Looked also at EURJPY.

Previous Day Low/High is a great location to look for Price to Run to.



-- ICT is combining everything up into an Expert-level, 3 Volume Teaching. In the future. --


Where's Intra-week High, Low?


When you have a "Normal" Market condition. Always be mindful of 2 Standard Deviations, which sets up a "Market Reversal Profile".

If it blows through 2 STDs through London, it's setting up a London Close Reversal Profile (highly likely).

Z-Days are going to cause you to lose money, if you're not careful. They're like Land Mines.

Getting "paid" quickly is the best sign you're in the market properly. If it isn't going anywhere quickly, you're likely wrong.

Being in the Market enough, studying well enough, you see what is likely to happen in those situations. You have to spend time to learn this. Not trading.

Focus on the Process. Find the things that makes sense to YOU. But you have to find what it is you do.



There is a way Small Accounts can really Build up, with little risk & little trading.

"Not doing Something" is a Position, and it Wins every time.

-- Side point about it not being about the Money, but the Freedom. However, you shouldn't be going Full Time untily you have 100k in the bank. 5 years is an ideal Time Frame.

Not going full time... isn't wrong. It takes trust in yourself, either way. --

What to do if you can't get 5k or 10k? How to start with a small amount.

Explaining Ken Robert's 1-2-3 Top (or Bottom), looking at Yearly High/Lows



John Murphy's Technical Analysis on the Financial Markets (title changed?) - suggestion for it.

ICT wanted to figure out how to make Ken Robert's Idea into something on steroids. (Apparently the Feeder Cattle Market is how he got this to work)

-- Measure yourself against... yourself. That's how you develop. --

This is Futures & Options teaching.

-- ICT is a little too obsessive about price Charts --

Looking at Lean Hogs. Picture #4. No joke.

---------------------------

Teaching:

Higher Time Frame -- Weekly Charts -- for the Market.

You have a very limited risk exposure.

- When applied Volatility is Low, Options markets get really quiet.

- You'll purchase "Call Options", if it's going Up.

"Call Up" / "Put Down" for remembering the terms.

Go to the Options change, Out of the Money, that's at least 1/2 of the previous range.

Premium + Cost is your Risk.

Look 12 months out, looking at costs. Go through the "Options Chains".

- If you search, you can get Options that are very, very cheap.

Don't purchase beyond 50% Retracement level, from the 62-79% level.

Looking 6-12 months out.

This is just Price Action for Huge Moves.


When going down, Calls are over valued
When going up, Puts are over valued

It's a "bang for your buck" style of trading.

COT data helps, but we're already at 4 hours.

--------------------------------


If you're trading on pure Dealer's Range intra-day via the "can't be there" method, take 1/2 off at the opposite side of the dealer's range. Move other portion's Stop Loss to +1 pip. Let's you hold out for "near" ADR, without any risk.

_______________________________________________

Here are the settings for the dealer range

- Open an ICT Asian Session Indicator
- Change the settings to: 18:00 GMT & 23:59 GMT (or whatever is the same from your platform)
- Change the Line Color and Line Type

You don't get the vertical bits, but since this is a *daily* activity, you can just place lines yourself.
 

rod178

Well-Known Member
sqa said:
http://fxgears.com/forum/index.php/topic,226.msg4324.html#msg4324

Start there, scroll through, for the links. Also, check ICT's twitter feed.
The links no longer work
 

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