ICT YT - 2020-08-12 - ICT Forex Price Action Lesson - EurUsd MRP.srt
Last modified by Drunk Monkey on 2021-06-12 06:32
| 1 | 00:00:16,049 --> 00:00:27,929 | ICT: Hell do, folks. Alright, so we're looking at the euro dollar, I gave you guys a trade example yesterday managing it through trading views. paper trading |
| 2 | 00:00:28,109 --> 00:00:38,039 | application right down here. Alright, so for some of you that are new, the question is going to be, well, if you're teaching, why are you teaching with |
| 3 | 00:00:38,189 --> 00:00:46,619 | paper trades? Well, because in the United States, I'm not licensed to get trade advice. So that's what we're doing here. We're giving out paper trade |
| 4 | 00:00:46,619 --> 00:00:55,349 | hypothetical examples and proving that I can see price before it moves. Alright. One of the things I want you to consider, before we get into this video, and I'm |
| 5 | 00:00:55,349 --> 00:01:04,919 | trying to keep it very, very short, I promise it will be a brief one. But I have a lot of people that try to send comments to me, and my comments are filtered. |
| 6 | 00:01:05,339 --> 00:01:14,729 | Because a lot of crap that comes, by my way, so I try to keep that to a minimum. But the number one complaint is, as I talked too much, so I'm going to try to |
| 7 | 00:01:14,759 --> 00:01:25,619 | give you great concise videos, where you're gonna see the difference between not talking about the real reasons what's going on, and how you work towards |
| 8 | 00:01:25,619 --> 00:01:33,629 | developing as a consistent trader, which is what you get in my tutorial videos on this YouTube channel. Versus me just saying, okay, here's me doing it. And |
| 9 | 00:01:33,629 --> 00:01:39,929 | here's me saying, This is what happened. And that's it. And you're gonna see that there's a distinct difference between that and really learning under |
| 10 | 00:01:39,929 --> 00:01:49,859 | someone that has experienced like myself. So. Right, anyway, have you heard this before? You see this a lot on YouTube. I'm going to show you this trade that I |
| 11 | 00:01:49,859 --> 00:02:02,639 | took, but I'm going to use the replay button, because just work with me. Just doesn't feel right does it? And all this is the trade I took. And they don't |
| 12 | 00:02:02,639 --> 00:02:11,729 | have anything like this on the chart. They don't show any kind of trade, history, none. Okay, they have no proof that they can manage a trade or an idea. |
| 13 | 00:02:12,599 --> 00:02:23,309 | That's what's going on right now on YouTube. And it's rampid. They all talk about fair value gaps, breakers, bullish order blocks, bearish order blocks, |
| 14 | 00:02:23,309 --> 00:02:32,939 | mitigation blocks, and they're all mislabeled. cb busy. These are all my terms, these are all things that I understand how to use, clearly. And I'm giving you |
| 15 | 00:02:32,939 --> 00:02:42,509 | examples of it here. And I'm gonna try to give you an example once a week, that way you guys can see, number one, it's not a facade. It's not a rented empty for |
| 16 | 00:02:42,509 --> 00:02:53,549 | server, okay? I'm only teaching even when my mentorship through trading view. And I don't use the replay button up here. You guys can watch the video I did |
| 17 | 00:02:53,549 --> 00:03:03,389 | yesterday, managing this tire position here. Okay, I had a guy send me an email saying, I'm adding arrows to the chart. That's okay, well, I'll just do another |
| 18 | 00:03:03,389 --> 00:03:13,109 | trade. And you can see it, I'll manage it the entire day. And that's what I did yesterday. So everything all the way down to the actual getting stopped out here |
| 19 | 00:03:13,169 --> 00:03:25,979 | on the final balance. And I want to kind of go over in short fashion, why it's important to have someone that can do it, and prove they can do it, not just |
| 20 | 00:03:25,979 --> 00:03:36,929 | once in a while, but consistently. And this is the kind of stuff I do every single week. And for a large part, it's been unseen by YouTube. I mean, I've |
| 21 | 00:03:36,929 --> 00:03:48,719 | done some examples last year took a small camera and that really big. And that's fine at all. But I want you to appreciate seeing what it's like following the |
| 22 | 00:03:48,719 --> 00:03:59,219 | progress of what would be reasonable in terms of expectations. Now, I'm not saying that you should be starting as a trader trading with $750,000 in leverage |
| 23 | 00:03:59,279 --> 00:04:08,459 | with a short, okay, I'm not I'm not saying that, you should be doing that. But what I'm showing you is how you as a developing trader should learn to take |
| 24 | 00:04:08,459 --> 00:04:20,969 | profits, and pay yourself along the way. I can take that trade here and hold for the entire rundown here and get out I can do that. But when I show examples, I |
| 25 | 00:04:20,969 --> 00:04:33,779 | want you to learn from the visual approach to me doing it. That way you can see it's beneficial to do so you as a developing trader aren't going to know if this |
| 26 | 00:04:33,779 --> 00:04:42,059 | is a good entry point to hold to get out below here. That's unreasonable. So while you grow in your understanding, you want to take partial profits along the |
| 27 | 00:04:42,059 --> 00:04:50,399 | way and then when it does get to your objective, then it feels much better because you've managed the risk. You've managed the uncertainty and the |
| 28 | 00:04:50,429 --> 00:04:58,559 | psychological warfare that's going on the entire time you're in the trade. So I just tossed that in there as the only jawboning you're gonna get. Alright, so |
| 29 | 00:04:58,559 --> 00:05:08,429 | what actually took place yesterday. Put the annotations on the chart. What was going on in my mind was we had a market run up, initially up to the big figure |
| 30 | 00:05:08,429 --> 00:05:09,029 | 118. |
| 31 | 00:05:09,690 --> 00:05:19,470 | So 118 to traded through at once, twice, three times, and then broke down, clearing this short term low here, when it broke down below that it started |
| 32 | 00:05:19,470 --> 00:05:27,600 | consolidating sideways. And then when we entered the London close, after running the big figure, which is something I teach actually on this YouTube channel, so |
| 33 | 00:05:27,600 --> 00:05:36,300 | if you go and search through my videos, trading the big figure, or trading figures or something like that, I can't exactly what the title is. But the video |
| 34 | 00:05:36,300 --> 00:05:46,260 | goes over with some of the details that you can ferret out of the price action here. But this high to this low, you get an optimal trade entry in here, and |
| 35 | 00:05:46,290 --> 00:05:55,320 | trades up into it again here. And all I did was use a small little optimal trade entry right there during London close. What is London close 10 o'clock in the |
| 36 | 00:05:55,320 --> 00:06:05,970 | morning to noon, New York time. It's not always the opposite end of the range. And when you know you're doing and you understand the algorithm, and real |
| 37 | 00:06:05,970 --> 00:06:15,990 | institutional trading is a big buzzword right now on YouTube, isn't it institutional trading? like, Okay, show me institutional trading, show me that |
| 38 | 00:06:15,990 --> 00:06:24,060 | you can read price before it happens. Sadly, I don't see that happening. But if they can, you got somebody that you know, that's doing it improves it every |
| 39 | 00:06:24,060 --> 00:06:32,610 | single day or every single week, send me their link, I'd love to be able to watch them. Because right now, it's just me. So the optimal trade entry right in |
| 40 | 00:06:32,610 --> 00:06:40,080 | here, trades up into a bearish order block, you guys can watch that video yesterday and see actually an execution right there as it happens. And the first |
| 41 | 00:06:40,080 --> 00:06:48,510 | draw on liquidity, which is do well here after this little abbreviation and it's an expired little magnet I put on there to draw your attention to if you're |
| 42 | 00:06:48,510 --> 00:06:57,720 | watching the chart or looking at the chart, just like this one was down here. First profit was taken there. And partial was taken here, as we entered into an |
| 43 | 00:06:57,720 --> 00:07:08,100 | order block another order block down here ahead of this log because it could very easily retrace, and come back up here and wipe out these equal highs. See, |
| 44 | 00:07:08,100 --> 00:07:18,630 | as a developing trader, you're not going to know if that's likely to happen or not. I have things that I can see. But I like to teach and preach at the same |
| 45 | 00:07:18,630 --> 00:07:28,830 | time. So if you can't follow the logic of why you take partial profits along the way, if you're the type of person who says Well, it's one and done, you know, |
| 46 | 00:07:28,830 --> 00:07:35,820 | I'm going to get in and get out with my full profit, or nothing or take a loss, well, you're not going to be around in this business very long, especially if |
| 47 | 00:07:35,820 --> 00:07:44,700 | you're developing student because the markets gonna eat you alive. But once it gets below the low over here, okay, as it was approaching, rather, let me say it |
| 48 | 00:07:44,700 --> 00:07:53,070 | that way, I offered the opportunity for the market to limit me out below the 117 big figure. And you can see that in the recording. It wasn't having any of that |
| 49 | 00:07:53,100 --> 00:08:00,900 | it went down below the low, it allowed me to get out below the low this low here. But then I put a stop loss, tighten it up, because I didn't want to have |
| 50 | 00:08:00,930 --> 00:08:10,770 | any kind of retracement up on the position after taking that low out because that could happen. And I don't want to give up a good profit. hypothetical |
| 51 | 00:08:10,770 --> 00:08:21,840 | nonetheless. But all these points in here referenced in here, you can see all the business here. So this is what I'm referring to when you when you see these |
| 52 | 00:08:21,840 --> 00:08:29,400 | guys online. It's all the multi level marketing guys in IML. Guys that claim they know how to do institutional trading, but you don't see them doing |
| 53 | 00:08:29,400 --> 00:08:38,190 | anything. They have a lot to say about the left side of the chart. Show me the right side of the chart. But anyway, looking at the New York session, I'm |
| 54 | 00:08:38,190 --> 00:08:46,230 | getting a lot of thumbs down on this video because of that comment. It's okay. It's okay. It still helps the algorithm pump up monitor us. So we have the New |
| 55 | 00:08:46,230 --> 00:08:55,740 | York session today. This is what happened to that person on the community tab on my YouTube channel. Focus on the 15 minute timeframe. On a 50 minute time frame |
| 56 | 00:08:55,740 --> 00:09:04,350 | we'll look at in a moment, because it's the 118 07 level. Okay, we'll look at that in a minute. But on the five minute chart, we can see what I taught you all |
| 57 | 00:09:04,350 --> 00:09:13,680 | free, no charge whatsoever. The optimal trade entry trading model using the 830 in the morning until 11 o'clock in the morning timeframe. And we have one |
| 58 | 00:09:13,680 --> 00:09:21,450 | optimal trade entry there. bullish order block, you have one optimal trade entry their bullish order block inside of the time window and trading up above the |
| 59 | 00:09:21,450 --> 00:09:32,100 | winning team they figure and above that red line. What does that red line? Well, I counseled you all to go to the 15 minute time frame. And had you done that you |
| 60 | 00:09:32,100 --> 00:09:41,550 | would have seen these relative equal highs. So above that is where the market is likely to draw to. And it popped right above that, just like I taught you on |
| 61 | 00:09:41,550 --> 00:09:52,650 | this YouTube channel didn't cost you anything but the time that study it and it delivers every single day. There is not one single quote unquote mentor out |
| 62 | 00:09:52,650 --> 00:09:54,810 | there that you're going to have to pay for that will |
| 63 | 00:09:54,810 --> 00:10:05,490 | give you something better than that consistent pattern. It delivers every single Day. And truth be told, when I started on baby pips in 2010. That was the actual |
| 64 | 00:10:05,490 --> 00:10:13,950 | model I was doing when I was recapping majority of all the trades I was showing you at that time. So it's got longevity, and it was working for me in the 90s as |
| 65 | 00:10:13,950 --> 00:10:25,140 | well. It's in the 1990s. Folks, Millennials didn't aren't used to seeing things before 2000. But that's the business on the eurodollar and what took place and |
| 66 | 00:10:25,140 --> 00:10:31,980 | if you'd like these kinds of videos, if you'd like to see things like this more frequently, I'd be happy to do it. Just give me some support with a thumbs up |
| 67 | 00:10:32,280 --> 00:10:35,880 | and share the video. And I'll talk to you next time which Good luck and good trading |