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ICT YT - 2022-03-25 - ICT Mentorship 2022 Episode 15.srt

Last modified by Drunk Monkey on 2022-04-03 19:48
1 00:00:06,390 --> 00:00:16,860 ICT: Alright, so this is going to be an update to the YouTube channel, because there's a lot of people freaking out thinking I'm missing and gone. I'm on
2 00:00:16,860 --> 00:00:28,650 vacation, folks, but took the opportunity to sit down here this morning with you and try to hopefully make a mile marker on the equity on the slide account.
3 00:00:29,370 --> 00:00:40,830 Don't try to hit 50,000. So I'm watching this potential Mako fair value gap. I want to see that swing high broken. I'll see if we get out here.
4 00:00:48,240 --> 00:00:59,610 Again, this count is really meant to show like averaging like 20% a month. I get questions all the time like you What do I think a student that has gone through
5 00:00:59,610 --> 00:01:10,350 all the teachings have worked out a model? You know, what could they reasonably expect to see? And what can be done without really pushing the envelope? And
6 00:01:10,350 --> 00:01:21,720 this is kind of like my answer to that. Also to kind of like, remind everybody, I'm not just finding cherry pick trades in a demo account. I can trade with live
7 00:01:21,720 --> 00:01:32,550 funds to. Alright, so we're about to break that swing high. If it does, that'll be bullish market structure. I'm thinking we can trade back to one of the daily
8 00:01:32,550 --> 00:01:45,720 chart back to like 14,000 But that's a little bit of a stretch so far intraday. Okay, we have the market structure bullish now. So there's a fair value gap.
9 00:01:47,130 --> 00:02:02,400 I'll highlight that. I'll go into the chart here. Watching this candle, see how it closes because that will complete our imbalance. You can see that great
10 00:02:02,820 --> 00:02:05,940 there. Okay, and give me another
11 00:02:12,300 --> 00:02:26,190 right there, that's the low end of the fairway got. This thing's always tricky. Alright, so now we have the close of that candle. So now I can go off on that
12 00:02:26,190 --> 00:02:27,420 because I'm clumsy with
13 00:02:33,270 --> 00:02:43,050 Think or Swim, change the color here as you can see a little bit better. Now it's technically the open. So it's a little bit of volatility that comes in here
14 00:02:43,050 --> 00:02:49,530 can overshoot that low, I don't care if it does. If it goes back up into the fair value gap, I will bite
15 00:02:58,770 --> 00:03:08,460 Okay, now when you're entering on, like the opening, like 930, equities opening, you could take a long entry here, but you don't know how far it's gonna whip
16 00:03:08,460 --> 00:03:16,380 below that low. And you could be wrong and painfully wrong. So what I'm watching is, does it want to go below that short term low that's already created moments
17 00:03:16,380 --> 00:03:26,640 ago, which will be outside and below the fair value gap. And it does not negate the fair value gap. Because using narrative narrative is as I expect people to
18 00:03:26,640 --> 00:03:32,850 look at that and say, Okay, it's going to go up and they're already trying to buy right now. But their stop loss is going to be below that swing low.
19 00:03:41,670 --> 00:03:53,640 So sell stocks are resting at 13,006 14. They just took those now. Now this is a high risk entry long there. But I'm watching price now entering that same fair
20 00:03:53,640 --> 00:04:06,630 value gap. So one more time to see if it wants to poke a little bit lower. And again, my daily bias is bullish, so I'm looking for higher prices. So I'm going
21 00:04:06,630 --> 00:04:16,980 to go and aim for the 80 level. That'll give me a nice figure to run to 50,000 on equity. I do believe something go higher, but I'm on vacation. So I want to
22 00:04:17,040 --> 00:04:37,500 kind of like let me take this long entry. And there we go. Alright, so now I'm watching price. I want to see expand up now, because it's the opening. And I
23 00:04:37,500 --> 00:04:49,200 don't know where if we whip below that low. I'll give it a chance to go below it just by a little bit and I'll close it at market. Generally I like to trade with
24 00:04:49,200 --> 00:04:57,510 a stop loss. But if I'm trading open like this stops can be taken really really easily and in reverse and then never get the chance to be in it. So I'm allowing
25 00:04:57,510 --> 00:05:06,390 myself a little bit of flexibility I'm not trying to encourage you to try to stop off bleeding, I'm right here ready to click and close it if it trades below
26 00:05:06,390 --> 00:05:11,550 it and wants you to expand up
27 00:05:17,850 --> 00:05:31,440 now I want to see an energetic run above the swing high that was formed just to the left of where we are right now. There is a fair value gap at the 680 level,
28 00:05:32,070 --> 00:05:43,050 and it's above equilibrium, so it'd be a premium market. So that's why I'm gonna be targeting the ad level. Plus it's around 50 handles so that gives me about
29 00:05:43,050 --> 00:05:54,870 $1,000 or more. Alright, so now right now at this moment, I want to see the Expand aggressively, not dilly dally around I want to see it really try to
30 00:05:54,870 --> 00:05:57,270 spread its wings and take off and start moving
31 00:06:09,390 --> 00:06:18,180 there's a small little fear of a gap in the last three candles up, I don't think it needs to fill that in or even revisit it. But if it were to, I wouldn't
32 00:06:18,180 --> 00:06:25,980 expect price to be supported by that. So we're not going below the 630 level
33 00:06:35,520 --> 00:06:36,000 okay
34 00:06:43,710 --> 00:06:53,670 now at this moment, I could put the stop loss one at my entry. And if it takes me out, then I would basically move to the sidelines and wouldn't take any more
35 00:06:53,670 --> 00:07:11,520 trades today because it's FOMC and FOMC, you can trade in the morning, but you got to be done early. If you're trading equities it's important to be aware of
36 00:07:11,520 --> 00:07:20,310 the economic calendar because we're probably gonna have a lot of volatility later on today. I still think I'll push it higher with that. So here's my limit
37 00:07:20,310 --> 00:07:29,160 order and I'll place it there and we'll see if we can get this puppy to reach up here and grab it. I mean, I feel confidence gonna go way beyond that. But for a
38 00:07:29,160 --> 00:07:42,690 little scout, very little drawdown, about three handles of drawdown if that from the entry. Or the cut the candle I entered on and say that like the love from my
39 00:07:42,690 --> 00:07:51,690 entry was only like three animals below. I have to have to go watch the video and see what the actual drawdown was from the point of entry. I'm not sure if I
40 00:07:51,690 --> 00:07:59,880 had any fur did and that's what it was 90 to 60 bucks or so. Not bad if you're trying to make $1,000
41 00:08:06,150 --> 00:08:08,070 small little scout early in the morning
42 00:08:16,320 --> 00:08:33,750 and now this is where neophyte traders are newbies, they get nervous in the wrong thing here, I always thank them on the other platforms I use TradeStation
43 00:08:33,750 --> 00:08:45,960 I use trading view and it's different settings different things you can look for. Alright, so there's my fill on the limit we're rounding out the day and the
44 00:08:45,960 --> 00:08:55,530 month of March I won't be taking any more trades this month. So $1,255 on two trades, about $15 or so in commissions so take that off of there that will be
45 00:08:55,530 --> 00:09:04,710 the net for the day. I'll take you over to the monitor tab here after a scratch yourself show you the the run on right now I think it's gonna go higher but
46 00:09:04,710 --> 00:09:13,830 here's the Monitor tab showing the actual trades today. And you can see the profit and loss since I started this account and the Commission's which are high
47 00:09:13,830 --> 00:09:21,360 because I did a lot of latency tests and I've done a lot of things that would kind of like mimic what a new trader would do once they get into life on
48 00:09:21,360 --> 00:09:21,720 trading.