83-ICT Mentorship Core Content - Month 9 - 20 Pips Per Day

Last modified by Drunk Monkey on 2022-10-17 10:10
1 00:00:17,670 --> 00:00:27,930 ICT: Welcome back, folks, this is lesson three of the mesa 2017 ICT mentorship, ICT amplified day trading and scalping this lesson is teaching 20 pips per day
2 00:00:33,480 --> 00:00:45,210 targeting 20 pips per day, before we get into it, let me preface it by saying, You will not make 20 pips every day period. I can't promise you that no one can
3 00:00:45,210 --> 00:00:54,690 promise you that. Okay, but there are certain things we're going to cover here today that give us a potential to hunt for this as a daily objective. Not every
4 00:00:54,690 --> 00:01:04,800 trading day is obviously like all the others. So one day may have a lot more opportunity than in another day. Other days may not have any opportunity at all,
5 00:01:04,830 --> 00:01:13,230 despite what it may be showing you in your charts. You have to be mindful that obviously we all know that there's been many times where I've looked at things
6 00:01:13,230 --> 00:01:22,950 and called certain things to happen and didn't happen at all. Now ideally, you will want to bank 20 pips in any day trade that you take. So every trade that
7 00:01:22,950 --> 00:01:31,260 you get into you have profits at least take something off at 20 pips, that's the surest way of banking 20 pips per day so if you're in you're trying to trade
8 00:01:31,260 --> 00:01:42,990 every single day, not that I'm advocating that or in typing you to do that. If you do, and you get 20 pips, always try to bank something at 20 pips. However,
9 00:01:43,200 --> 00:01:54,300 there are a few techniques one can use to ferret out a 20 Pip scalp almost every day. Now again, the emphasis there is almost the trader still needs to do their
10 00:01:54,300 --> 00:02:05,220 homework and determine what the current market environment is consolidation, reversing, expanding. It's all about market profiling. This lesson, I'm going to
11 00:02:05,220 --> 00:02:08,940 teach you two methods that I like to scalp with an aim for 20 pips.
12 00:02:15,180 --> 00:02:22,860 Okay, I get a lot of questions about how can I trade the Asian session now, obviously, you know, I don't like to trade that that much. But when I was active
13 00:02:22,890 --> 00:02:35,610 trading Asia, this is one of the ways I did it. This is a good approach or technique Method Pattern way we want to call it it's kind of like a complete
14 00:02:35,610 --> 00:02:47,760 system, if you will, here. We're bringing doing is trading the 15 Minute New York session stops, this pattern is good for yen, Aussie and kiwi crosses. In
15 00:02:47,760 --> 00:02:57,090 the buy setup is during Asian session, up to 12am New York time you're gonna scout short term lows formed in New York session. Now it's gonna be very, very
16 00:02:57,090 --> 00:03:10,320 late New York session get ready to go into the beginning of the New York crossover into Asia. Obviously, one, I'm skipping over palsy in New Zealand, but
17 00:03:11,100 --> 00:03:22,830 it's my way of thinking. It's from New York only in Asia. I know I'm maybe this respectful to the folks in New Zealand or oz. But that's just the way I view it.
18 00:03:22,830 --> 00:03:37,950 Sorry. So late New York, for me, is basically going into the New Zealand and all the open. Okay, so that's something like that, say it like that. But the way I
19 00:03:37,950 --> 00:03:46,950 interpret it is when New York closes, we're going in Asia, this is the way I interpret it. And so I'm sure some of you that are very highly critical are
20 00:03:46,950 --> 00:03:55,080 going to want to correct me and say, Well, this is not really what that is. But I'm just telling you, this is how I do it. Okay. And if it means anything else
21 00:03:55,080 --> 00:04:05,130 to you, I don't trade it that much, because I think all the volume should be done in London and New York, but for completeness sake, for those that are desk
22 00:04:05,130 --> 00:04:13,830 jockeys in the North American continent, and they just cannot participate for whatever reason, because of sleep, jobs, businesses, whatever life
23 00:04:13,860 --> 00:04:23,160 circumstances, if you want to trade the Asian session, this is one sure way of doing it. So the BI setup again, repeat it is during the Asian session up to
24 00:04:23,160 --> 00:04:33,420 12am New York time we're gonna be scalping short term lows formed in the New York session. Trading long after Asia probes the low in other words, basically
25 00:04:33,420 --> 00:04:44,220 what we're looking for is a turtle soup long. Selling setup is during Asian session, up to 12am New York time. We're gonna be scouting short term highs
26 00:04:44,220 --> 00:04:54,570 formed in the New York session trading short after Asia probes the highs were timing off of a five minute chart. We're targeting 20 pips and it's a fixed
27 00:04:54,840 --> 00:05:07,470 target. We are not graduating it we're not you trying to turn into a huge mountainous pile of pips, it's straight 20 for 2020 stops 20 target. That's it.
28 00:05:10,200 --> 00:05:20,970 So what does it look like? Well, we have here an example of it. As indicated in the chart here, you can see that there is a short term high formed prior to the
29 00:05:20,970 --> 00:05:30,780 Asian session start. And that short term high is going to have a very small pocket of stops resting above it. And it's delineated here by late New York
30 00:05:30,780 --> 00:05:48,150 stops. Now, when I look at this, I interpret this as very, very low volume liquidity run. Essentially, what we're doing is is we're starting the Asian
31 00:05:48,150 --> 00:06:02,130 range. So what we're doing is is interpreting the Asian range high forming. When we take a move above that short term high prior to the Asian session, start on a
32 00:06:02,130 --> 00:06:14,370 five minute basis. If it trades above that high, we can look to go short. And take 20 pips. The blue ranges you're gonna see in this video, are all
33 00:06:14,370 --> 00:06:25,800 delineating What 20 pips looks like. Now obviously, all these go, sometimes many pips beyond 20 pips. But just for the sake of knowing what it looks like, and
34 00:06:25,800 --> 00:06:36,570 how much of an opportunity there is, I show it to you just in a 20 Pip spectrum. The setup usually occurs before New York midnight, so what we're doing is
35 00:06:36,570 --> 00:06:50,310 they're actually trading inside of the Asian range. By expecting the Asian range to be what it typically is a consolidation. Many times that Asian high will form
36 00:06:50,340 --> 00:06:59,250 after a short term highlight this has been delineated in your chart. Once that's taken out, they fade that and take it the other way down, and making the Asian
37 00:06:59,250 --> 00:07:14,490 range low. Many times the Asian range is a lot larger than 20 3040 pips, but many times it's at least enough to get 20 pips out of it. Here's another example
38 00:07:14,490 --> 00:07:16,710 here. This is the dollar yen.
39 00:07:18,000 --> 00:07:31,380 Another short term high price trades above it during the Asian session, fade that 20 pips is seen before midnight during the Asians Asian range as we define
40 00:07:31,380 --> 00:07:43,020 it. So between eight o'clock at night, New York time, we see a small little rally up, they fade that in price trades down 20 pips allows you to bank now
41 00:07:43,410 --> 00:07:53,850 look over towards the far extreme left of the chart, and you'll see that there's a fair value gap there. That's what ultimately price was reaching down for. So
42 00:07:53,850 --> 00:08:03,840 there's a lot more potential for downside besides that 20 pips, that's what makes these trades, in my opinion, favorable. If you're gonna be trading Asia,
43 00:08:04,140 --> 00:08:12,600 you're not trying to get rich on you're not trying to make 100 pips, but you use all of the pdra matrix ideas have given you in terms of premium and discount to
44 00:08:12,600 --> 00:08:15,390 reach for them as well on these lower timeframe.
45 00:08:23,310 --> 00:08:33,840 Another example here, this is the dollar yen. Price trades above a short term high, right at the Asian session. Again, we're anticipating consolidation, so
46 00:08:33,840 --> 00:08:44,820 there's nothing to fear. We're looking for general, sideways environment that Asian session creates. Now initially, you're gonna say, Well, what happens if it
47 00:08:44,820 --> 00:08:56,010 keeps running up? Then you get stopped out your stops at 20 pips. Just like any other trade, you have to have a filter for keeping advanced losses from
48 00:08:56,010 --> 00:09:05,730 occurring, so your stop loss is fixed at 20 pips. When you trade above the short term high, soon as it trades above it. You're looking to sell short, how many
49 00:09:05,730 --> 00:09:15,030 pips above it, Michael, I don't know five. Five is a good number. Some of you would be really aggressive and want to sell it just one or two pips above it.
50 00:09:15,570 --> 00:09:23,550 Preferably like five pips above the short term highs. If I can get that in great. If I can't get it, then I miss it. It's fine.
51 00:09:29,040 --> 00:09:41,430 To another example here, short term high price rallies above it in the Asian session, creating the Asian range high price feeds that the blue box delineates
52 00:09:41,430 --> 00:09:51,420 the 20 pips that will be there for potential payout. And you can see it clearly moves a lot more than just that. So again, the thing is that you're prone,
53 00:09:51,450 --> 00:10:04,050 you're probably being overly critical, because it seems like where's the definition behind the trades? Well look at your higher timeframe, even if these
54 00:10:04,050 --> 00:10:14,640 trades are looking to continue on the upside or downside. All we're looking for is that initial with above a short term high or below short term low.
55 00:10:16,080 --> 00:10:27,750 Preferably. We can see in market continuations if we're bullish, we can see the selling above a short term highlight this many times they actually work out
56 00:10:27,750 --> 00:10:37,110 better because what you're doing is you're pricing in the Asian range high and what do we look for, for upside movement that Judas swing down, so we're already
57 00:10:37,110 --> 00:10:47,790 anticipating Asian range that's probably going to want to trade lower or if the move starts a little bit sooner than midnight, it could trade down make the
58 00:10:47,790 --> 00:10:56,220 Judas swing there and give you your 20 pips before it starts to go higher and make the higher close on the day without really requiring London sessions due to
59 00:10:56,220 --> 00:11:11,520 swing another example here, this is the Kiwi dollar beginning the Asian session we have short term low price trades down below that short term low just probes
60 00:11:11,520 --> 00:11:21,180 it takes out liquidity below that short term low and then rallies up the box represents 20 pips again. You can see it continues even further. But again, all
61 00:11:21,180 --> 00:11:27,090 we're doing is looking for opportunity to trade between eight o'clock and midnight New York time.
62 00:11:34,200 --> 00:11:47,820 Okay, our second way of scalping 20 pips, we're gonna be trading the New York expansion. And this is a pattern that's good for all pairs. It's no special you.
63 00:11:48,870 --> 00:11:59,760 Favorite pair for this it's universal application. In the buy setup is during the New York session, up to 10am New York time, or scalping short term lows
64 00:11:59,760 --> 00:12:09,660 formed in the New York open. Trading long after New York probes the lows while london session posted the Daily low in the five day average daily range is still
65 00:12:09,660 --> 00:12:18,030 pending. In other words, the five day average daily range has not been filled for the day. London has made the low of the day so far, we've rallied from
66 00:12:18,060 --> 00:12:30,000 London prices retracing in New York and it's trading down below a five minute short term low. When it does that we buy long below that short term low in the
67 00:12:30,540 --> 00:12:38,580 in the mindset that it's a turtle soup. It's coming back for short term, sell stops, and we're gonna be looking for expanding going towards the five day
68 00:12:38,580 --> 00:12:47,940 average daily range. The sell setup is just the opposite. During New York session up to 10am New York time, we're gonna be scouting short term highs
69 00:12:47,940 --> 00:12:57,990 formed in the New York open session. Trading short after New York probes the highs while london session posted a daily high in the five day average daily
70 00:12:57,990 --> 00:13:08,460 range for that particular day is yet to be fulfilled or pending. Again, same scenario here just reversed. We're looking for a day that London has already
71 00:13:08,460 --> 00:13:19,320 posted the daily high or highly favorable of being the daily high New York sessions having a little bit of a retracement higher. It's trading above a short
72 00:13:19,320 --> 00:13:31,290 term, five minutes short term high. It's taking out by stops above the short term five minute swing high and average daily range for the last five days. Low
73 00:13:31,320 --> 00:13:40,200 has not been met yet. That's the condition we're looking to trade in. We're timing off of a five minute chart again we're targeting 20 pips it's fixed with
74 00:13:40,200 --> 00:13:54,090 a stop loss at 20 pips so what does that look like? Well, we have a Aussie dollar here five minute chart. Price has made a low in London has had some
75 00:13:54,090 --> 00:14:05,700 expansion retraced and on a five minute chart we can see a short term low violated and also trades back down into what can you see it a five minute fair
76 00:14:05,700 --> 00:14:16,290 value gap back down into an order block as well. Price expands 20 pips well beyond 20 pips actually but nonetheless, this is actually the reason why I
77 00:14:16,290 --> 00:14:26,340 expected that Aussie dollar to trade up and make a higher high during the live session on New York. This past Friday during our live sessions. This was the
78 00:14:26,340 --> 00:14:38,970 actual pattern I saw and why I said we're gonna see a higher, higher high and here it as you can see it another example here again, London creating the
79 00:14:39,150 --> 00:14:51,360 potential low the day expansion on the upside down in New York session. price comes down below a five minute short term low price goes below the short term
80 00:14:51,360 --> 00:14:59,970 low it quickly rejects out of there and goes up much more than 20 pips but 20 pips ish shaded in blue so you can see the scalp that will be available to you
81 00:15:03,420 --> 00:15:13,560 Okay, this is the euro dollar. same premise, we have the London Open. Creating a high the day price trades down. We have a retracement into New York session
82 00:15:13,770 --> 00:15:23,820 comes back above a five minute short term high for buy stuff that had been trailed down. Once that short term high has been violated selling short above
83 00:15:23,820 --> 00:15:35,580 that, looking for 20 pips, you can see the 20 pips is easily taken in this example here, but nonetheless, not going to pay like that. But 20 pips is very
84 00:15:35,580 --> 00:15:50,610 easily seen here. And sometimes, in this example here for the dollar CAD, sometimes you can get more than one example or one setup in the same trading
85 00:15:50,610 --> 00:15:59,190 day. Nor as you can get multiple setups, you're trading off of a five minute charts. So therefore, here's a lot of potential for it to come back down below
86 00:15:59,190 --> 00:16:10,320 short term lows if it's going to be in a rather choppy day with an expansion later in the afternoon. Here we have a London low formed and prices expanded,
87 00:16:10,920 --> 00:16:22,890 taken out the high that was formed in early Frankfurt price trades down makes the low in London trades up violates it in the New York open and trades all way
88 00:16:22,890 --> 00:16:32,070 back down below a five minute short term low stops have been taken price easily rallies 20 pips from that low, giving profitability.
89 00:16:33,330 --> 00:16:43,950 And we have a later opportunity where another five minute low is violated and price trades, it's expanded well beyond 20 pips again. So there's two opposite
90 00:16:44,040 --> 00:16:54,300 two opportunities in this particular currency. And it's $1 CAD of all pairs, it's a really low balled volatility pair generally. And but you can see how even
91 00:16:54,300 --> 00:17:03,960 in this type of environment, you can scalp out 20 pips. But the premise is, is you have to have the strong conviction about what London has already done. And
92 00:17:03,960 --> 00:17:12,990 we're looking for that continuation in the New York session. The ideal scenario is look for a five minute low, let them break down below that five minute low.
93 00:17:13,890 --> 00:17:21,360 Because what they're doing is is they're trying to entice short sellers, and breakout artists, and also knock out these individual individuals that are
94 00:17:21,360 --> 00:17:34,620 already long, that would stand to profit by the next leg up in price. This pattern is a wonderful pattern for just a real strict guideline about how you
95 00:17:34,620 --> 00:17:43,170 want to go into the forex market and trade it, it's actually a really good pattern for s&p trading too. So if you're an ES trader, you can do this same
96 00:17:43,170 --> 00:17:53,340 pattern, it's very, very good on es it's good for Dow futures and triple Q's. It's good for stock trading, too. If you're a day trader on stocks, you can pull
97 00:17:53,340 --> 00:18:01,530 up a five minute chart and this is a really good pattern to use there as well. I don't advocate day trading stocks because the volume usually isn't enough to
98 00:18:01,530 --> 00:18:09,030 push it around. But you can look in there and you'll see that this pattern is it's one that works out very, very well. It's really one of those universal
99 00:18:09,030 --> 00:18:20,760 patterns you can apply to everything commodities, bonds and all that business. But hopefully these two concepts have given you more focused approach about how
100 00:18:20,760 --> 00:18:30,990 you can go in and look for short term intraday opportunities. They're not always there. But generally if you look across a lot of pairs, and you're just going to
101 00:18:30,990 --> 00:18:39,780 be introduced short term scalping. If you really push it hard, there's something you can practice on every day and notice I said practice because I don't want
102 00:18:39,780 --> 00:18:47,100 you to think you can go in every single day day trading and trying to get 20 pips. But if you look at a great number of pairs need 10 or 15 pairs, you'll
103 00:18:47,100 --> 00:18:54,360 find something like this painting out every single trading day. So until next lesson, I wish you good luck and good trading