Changes for page ICT YT - 2024-05-06 - Micro-Scalping Without Bias - NQ May 06 2024-summary

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10	10
11	11	[ ] Review last week's annotated charts with ICT on the weekend
12	12
	13	+
13	13	== Outline ==
14	14
15		-**Audio volume issues during live stream.**
	16	+### Audio volume issues during live stream.
16	16	- The speaker is frustrated with comments about the audio volume, insisting they have good equipment and are using it properly.
17	17	- The speaker blocks text messages from unknown senders due to privacy concerns, mentioning their phone number and address are publicly available.
18	18
19		-**Market analysis and trading strategies.**
	20	+### Market analysis and trading strategies.
20	20	- ICT explains the importance of journaling and logging for traders.
21	21	- The speaker discussed their preference for pre-recorded lectures over live streaming due to their perfectionism and human frailties.
22	22	- The speaker introduced new concepts and visual aids to help viewers understand market behavior and observe charts without forcing predictions.
23	23
24		-**Technical analysis and trading with a mentorship approach.**
	25	+### Technical analysis and trading with a mentorship approach.
25	25	- Caleb wants to see a swing low followed by a long trade, with a reminder to check audio quality.
26	26	- The speaker is teaching their son how to trade and wants to show proper technique.
27	27	- The speaker emphasizes the importance of being present in the market and having a job.
28	28
29		-**Trading strategies and journaling for personal growth.**
	30	+### Trading strategies and journaling for personal growth.
30	30	- ICT explains the price continuum theory, using 15-minute time frames for intraday trading.
31	31	- New Zealand lawmakers passed a law allowing arrest for not receiving the arm ticket from Mr. 19.
32	32	- ICT emphasizes the importance of slowing down in the initial stages of trading to avoid making mistakes.
...	...	@@ -34,17 +34,17 @@
34	34	- The speaker emphasizes the importance of journaling and logging market observations and decisions made, even on non-trading days.
35	35	- The speaker encourages self-reflection and identifying opportunities for improvement through journaling, rather than dwelling on past mistakes.
36	36
37		-**Journaling for self-improvement, avoiding toxic opinions.**
	38	+### Journaling for self-improvement, avoiding toxic opinions.
38	38	- ICT advises filtering out toxic opinions and journaling for self-improvement.
39	39	- ICT emphasizes the importance of maintaining a positive mindset in journaling.
40	40
41		-**Importance of journaling and self-reflection in personal growth and mentorship.**
	42	+### Importance of journaling and self-reflection in personal growth and mentorship.
42	42	- ICT advises against engaging with toxic people or those who try to flatter (ICT, 0:23:51)
43	43	- ICT emphasizes the importance of balance in self-coaching and encouragement (ICT, 0:23:51)
44	44	- The speaker emphasizes the importance of personal contribution in the initial stages of a mentorship experience.
45	45	- The speaker wants to see if the person can stick to a process of studying charts and journaling their findings.
46	46
47		-**Trading with precision and flexibility.**
	48	+### Trading with precision and flexibility.
48	48	- ICT emphasizes the importance of understanding price action and overcoming fear of missing moves.
49	49	- ICT clarifies confusion around references to time, stating that he meant to look for directional moves before 7am, not avoid looking before that time.
50	50	- The speaker advises against relying solely on a smartphone for trading, suggesting a laptop with at least 15 inches of surface space is necessary for proper analysis.
...	...	@@ -52,22 +52,22 @@
52	52	- ICT emphasizes the importance of precision in trading, but acknowledges that it's unrealistic to demand perfection.
53	53	- ICT encourages traders to be flexible and adaptable, rather than getting upset when things don't go as planned.
54	54
55		-**Using 15-second charts for trading, with emphasis on reducing risk and increasing opportunities.**
	56	+### Using 15-second charts for trading, with emphasis on reducing risk and increasing opportunities.
56	56	- Trader emphasizes importance of focusing on one time frame, the 15-second chart.
57	57	- The speaker emphasizes the importance of taking action and reducing risk in trading, particularly with the 15-second time frame.
58	58	- The speaker's use of the 15-second time frame has led to responses from some listeners, including those who feel they have been given a "shortcut" or "golden ticket."
59	59
60		-**Using TradingView for market analysis and avoiding fake brokers.**
	61	+### Using TradingView for market analysis and avoiding fake brokers.
61	61	- ICT explains why son doesn't have live data, despite watching delayed videos.
62	62	- ICT rejects affiliation with brokers, emphasizes honesty and integrity in trading.
63	63
64		-**Trading view charting and real-time data for a unique learning experience.**
	65	+### Trading view charting and real-time data for a unique learning experience.
65	65	- Caleb learns trading through real-time data analysis with his father, who provides insights and executes trades live on the chart.
66	66	- Caleb gains unique perspective by seeing his father's real-time data analysis and trade execution, with the ability to stalk the chart and learn from his father's decisions.
67	67	- The speaker has faced challenges in the past and has learned to anticipate market movements through real-time data and charting.
68	68	- The speaker's student, Caleb, will not spend money on trading view charting or real-time data until the third Friday of November.
69	69
70		-**Trading London session and New York session, focusing on relative equal highs and lows.**
	71	+### Trading London session and New York session, focusing on relative equal highs and lows.
71	71	- ICT explains that prior to 7am New York time, London session price data and profile should be observed, not market profile making higher low of the day.
72	72	- Confusion about start time is clarified, with ICT emphasizing 7am New York time as the earliest reference point for price observation.
73	73	- ICT teaches day of week and time of day London session trading.
...	...	@@ -75,16 +75,16 @@
75	75	- ICT explains that before 7am New York time, traders should focus on relative equal highs and lows, not actual highs and lows.
76	76	- ICT uses the 5-minute chart to identify potential relative equal lows, making mental notes for future trading decisions.
77	77
78		-**Patience and dedication in trading, with emphasis on repetition and experience.**
	79	+### Patience and dedication in trading, with emphasis on repetition and experience.
79	79	- The speaker emphasizes the importance of patience and repetition in trading, as it takes time and effort to develop skills and gain experience.
80	80	- The speaker encourages listeners to submit themselves to the process of learning and improving, rather than rushing to be significant with no talent or understanding.
81	81
82		-**Identifying price action and liquidity in the forex market using the 15-minute, 5-minute, and 1**
	83	+### Identifying price action and liquidity in the forex market using the 15-minute, 5-minute, and 1
83	83	- Observe liquidity engagement on charts to identify potential relative equal lows.
84	84	- ICT identifies relative equal highs and lows on 15-5-1 min charts to encapsulate price action.
85	85	- Retail traders look for support and resistance, while ICT seeks liquidity and inefficiencies.
86	86
87		-**Identifying fair value gaps and using them for trading.**
	88	+### Identifying fair value gaps and using them for trading.
88	88	- ICT explains the concept of fair value gaps and how they can be used to identify potential trading opportunities.
89	89	- ICT highlights several inefficiencies in the market, including small gaps and imbalances, and shows how to use these to enter trades with minimal risk.
90	90	- The speaker emphasizes the importance of fair value gaps in analyzing price action, as they can be used to identify potential areas of support or resistance.
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92	92	- The speaker discusses the importance of identifying fair value gaps in candlestick patterns, which can indicate potential price movements.
93	93	- The speaker demonstrates how to identify fair value gaps by analyzing the volume imbalance in a candle, and how to ignore any wicks that are below the halfway point of the candle.
94	94
95		-**Technical analysis and chart patterns.**
	96	+### Technical analysis and chart patterns.
96	96	- Trader explains market manipulation through algorithm-induced buying pressure.
97	97	- ICT explains inversion fair value gaps in his book, emphasizing their importance in identifying potential turning points.
98	98
99		-**Trading with breaker inversion fair value gaps.**
	100	+### Trading with breaker inversion fair value gaps.
100	100	- Inversion, fair value gaps, and breaker trading strategies discussed.
101	101	- ICT identifies reversal patterns in fair value gaps.
102	102
103		-**Trading strategies using chart analysis.**
	104	+### Trading strategies using chart analysis.
104	104	- ICT emphasizes importance of relative equal highs and lows in trading.
105	105	- Trader identifies optimal trade entry point based on inversion and fair value gap.
106	106
107		-**Identifying and trading fair value gaps in price action.**
	108	+### Identifying and trading fair value gaps in price action.
108	108	- ICT identifies areas of price action where stops can be placed and reversals can occur.
109	109	- ICT uses inefficiencies in price action to identify support and resistance levels.
110	110	- ICT identifies efficient price action by focusing on fair value gaps and sell side imbalances.
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112	112	- ICT explains the importance of experience in trading, emphasizing the need for hands-on practice and hindsight.
113	113	- ICT highlights the significance of the first fair value gap prior to a stop run, using a red or pink color code to distinguish it from other gaps.
114	114
115		-**Identifying trading opportunities through analysis of sell side imbalances and buy side efficiencies.**
	116	+### Identifying trading opportunities through analysis of sell side imbalances and buy side efficiencies.
116	116	- ICT discusses stop management and identifies potential entry points based on sell side imbalances and buy side efficiencies.
117	117	- ICT analyzes price action, identifying potential reversals and trading opportunities.
118	118
119		-**Analyzing stock market trends and identifying potential price movements based on pre-market range.**
	120	+### Analyzing stock market trends and identifying potential price movements based on pre-market range.
120	120	- ICT explains Judah swing, manipulation of price action against expected direction.
121	121	- ICT explains how to anticipate price movements by analyzing pre-market range.
122	122
123		-**Trading strategies and market structure analysis.**
	124	+### Trading strategies and market structure analysis.
124	124	- ICT explains the optimal trade entry pattern, using a 60-72% retracement level and 70.5 level.
125	125	- ICT emphasizes the importance of waiting for relative equal highs or lows during the morning session.
126	126	- The speaker discusses the importance of anticipating manipulation in the market, using the example of a gap and a city.
...	...	@@ -127,19 +127,19 @@
127	127	- The speaker highlights the role of bodies in the market, including the use of stops and the creation of inefficiencies.
128	128	- ICT emphasizes the importance of relative equal highs and lows in trading.
129	129
130		-**Technical analysis and trading strategies.**
	131	+### Technical analysis and trading strategies.
131	131	- ICT wants to see market action align with fair value gaps, with a focus on London session low or high.
132	132	- ICT warns of low-probability trade setup due to overlapping patterns.
133	133
134		-**Annotating charts and retaining memories.**
	135	+### Annotating charts and retaining memories.
135	135	- I annotate charts to retain significant price action memories subconsciously.
136	136
137		-**Using technical analysis to manage emotions and make informed trading decisions.**
	138	+### Using technical analysis to manage emotions and make informed trading decisions.
138	138	- ICT emphasizes logging useful information to manage regret and fear.
139	139	- The speaker emphasizes the importance of managing emotions and expectations in trading, using a journal and role-based ideas to develop skill sets.
140	140	- The speaker identifies specific times of day (7-9 am) and price levels (highs/lows) to watch for potential manipulation, with a focus on waiting for a breakdown before entering a trade.
141	141
142		-**Using Fibonacci levels to identify potential price movements.**
	143	+### Using Fibonacci levels to identify potential price movements.
143	143	- Analyzes price swings after the fact to teach range finding.
144	144	- Ict uses a model to identify convergence of levels in agreement with old highs or lows.
145	145	- Eye is drawn to sell side and balance by side efficiencies, including down, close, big range candles.
...	...	@@ -146,62 +146,62 @@
146	146	- The speaker emphasizes the importance of sticking with a trading idea and process, even when faced with opposition or uncertainty.
147	147	- The speaker warns against entering trades too quickly or without proper setup, leading to potential losses and emotional distress.
148	148
149		-**Identifying trading opportunities using technical analysis and entry models.**
	150	+### Identifying trading opportunities using technical analysis and entry models.
150	150	- ICT explains how to identify potential entry points in the market by analyzing price action and identifying patterns such as breakers and inversion fair value gaps.
151	151	- ICT emphasizes the importance of studying price action in hindsight to develop an entry model that resonates with your observations.
152	152
153		-**Trading psychology and self-awareness.**
	154	+### Trading psychology and self-awareness.
154	154	- Trader seeks to manage risk and find contentment in trading with minimal activity.
155	155	- The speaker emphasizes the importance of filtering out negativity and managing exuberance to avoid failure.
156	156	- The speaker advises against becoming emotionally stimulated by one's own abilities, and instead focuses on keeping a positive mindset.
157	157
158		-**Trading and investing with a focus on simplicity and understanding market odds.**
	159	+### Trading and investing with a focus on simplicity and understanding market odds.
159	159	- ICT emphasizes the importance of a business-like approach to trading, prioritizing routine and monotony over emotions and excitement.
160	160	- ICT warns against seeking advice from unproven and unreliable sources, as they may try to use others for their own significance.
161	161	- The speaker emphasizes the importance of understanding the logic behind trading decisions and trusting one's own experience over proprietary algorithms.
162	162	- The speaker advises against blindly following any trading strategy without proper understanding and risk management, even if it seems simple or obvious.
163	163
164		-**Using social media sentiment for trading, with a focus on opposing opinions and their impact on decision-making.**
	165	+### Using social media sentiment for trading, with a focus on opposing opinions and their impact on decision-making.
165	165	- ICT uses social media as a sentiment gauge for trading ideas and validates them by observing the reactions of his followers.
166	166	- ICT shares his trading ideas publicly and observes how the market reacts, using the reactions to confirm or disprove his ideas.
167	167	- ICT prioritizes accuracy over speed, valuing honesty and transparency in trading.
168	168
169		-**Trading and emotional control.**
	170	+### Trading and emotional control.
170	170	- The speaker emphasizes the importance of saving and consistently doubling income before quitting a job.
171	171	- The speaker warns against trying to quit a job without sufficient savings and trading proficiency.
172	172	- ICT warns of emotional manipulation in trading, risking physical and mental health.
173	173
174		-**Trading mindset and strategies for success.**
	175	+### Trading mindset and strategies for success.
175	175	- ICT emphasizes the importance of managing trades soberly and avoiding unfulfilled delivery of price.
176	176	- Trader prioritizes consistency and self-awareness over aggressive trading.
177	177
178		-**Technical analysis and trading strategies using candlestick charts.**
	179	+### Technical analysis and trading strategies using candlestick charts.
179	179	- ICT discusses technical analysis techniques for identifying trade opportunities.
180	180	- The mentor emphasizes the importance of real-time chart analysis and forward testing for consistent profitability in trading.
181	181	- By studying repeating price patterns at specific times of the day, traders can set realistic expectations and improve their chances of success.
182	182
183		-**Trading, humility, and contentment.**
	184	+### Trading, humility, and contentment.
184	184	- ICT warns against young men's desire for validation through risky trades.
185	185	- The speaker advises against comparing oneself to others in the industry, instead focusing on personal growth and contentment.
186	186	- The speaker encourages the listener to prioritize their own journey and not worry about being faster or better than others.
187	187
188		-**Trading strategies and analysis of a price run.**
	189	+### Trading strategies and analysis of a price run.
189	189	- ICT highlights a price run on the 5-minute chart, annotating key levels and a potential immediate rebalance.
190	190	- ICT emphasizes the importance of identifying disruptions and trading accordingly, avoiding afternoon trading.
191	191
192		-**Trading strategies using price delivery continuum theory.**
	193	+### Trading strategies using price delivery continuum theory.
193	193	- The speaker discusses the price delivery continuum theory, which provides a continuous opportunity for traders to participate in the market.
194	194	- The speaker emphasizes the importance of being consistent with small trades in the beginning to build the mindset and skill set for trading.
195	195	- Algorithm identifies key price points to rebalance inefficient markets.
196	196
197		-**Algorithmic trading and market dynamics.**
	198	+### Algorithmic trading and market dynamics.
198	198	- ICT explains how algorithmic trading works, using examples from the audio.
199	199	- The algorithm constantly offers higher prices, regardless of buying or selling pressure.
200	200
201		-**Trading inefficiencies and potential buying opportunities in a stock.**
	202	+### Trading inefficiencies and potential buying opportunities in a stock.
202	202	- ICT identifies a price drop opportunity despite limited move due to time and price inefficiency.
203	203
204		-**Using 15-second charts for trading and identifying high-probability setups.**
	205	+### Using 15-second charts for trading and identifying high-probability setups.
205	205	- The speaker emphasizes the importance of aligning with the market's movements and avoiding emotional trading decisions.
206	206	- The speaker believes that live streamers on YouTube often miss out on significant price movements due to their limited perspective and emotional decision-making.
207	207	- ICT explains how to use 15-second charts for trading, highlighting the importance of reference points and algorithmic trading.