ICT YT - 2024-08-29 - ICT 2024 Mentorship - Lecture 20-summary

# Summary

ICT YT - 2024-08-29 - ICT 2024 Mentorship - Lecture 20

The meeting covered various trading strategies and market analysis techniques. ICT discussed the importance of understanding market conditions, particularly the impact of high and low resistance liquidity runs. He emphasized the need for structured trading approaches, such as identifying fair value gaps and using stop losses. ICT highlighted the significance of not overtrading and the importance of patience and discipline. He also mentioned the influence of market sentiment and the potential for manipulation, especially during election years. The session concluded with a detailed analysis of specific market movements and the importance of managing risk and emotions in trading.

 Action Items

[ ] Study price action in high vs low resistance market conditions.

[ ] Screenshot technical setups outlined like a fair value gap entry at [01:15:00] to review later.

[ ] Develop the ability to identify favorable vs adverse market conditions before trading.

[ ] Manage risk by moving stop losses to breakeven or cover commissions after partial profits.

 Outline

# Technical Difficulties and Stream Setup
- ICT discusses the presence of landscapers outside, causing early noise and potential latency issues.
- ICT mentions the use of the lowest latency setting on the live stream, which prevents the addition of subtitles.
- ICT explains that subtitles will appear in recordings but not in real-time due to latency constraints.
- ICT notes that most viewers are watching recordings, and the live stream is set to normal latency to avoid delays.

# Introduction to Trading Concepts
- ICT addresses questions from students about trading, specifically the use of a TD Ameritrade account.
- ICT explains the importance of learning to trail stop losses to avoid premature exits from trades.
- ICT introduces the concept of grading inefficiencies or price swings, which is covered in core content lessons.
- ICT mentions the use of Fibs and quadrants to handle price swings and provides a link to previous lessons for further study.

# Market Analysis and Trading Strategies
- ICT discusses the opening at 6pm the previous evening and the concept of grading inefficiencies.
- ICT explains the rally up to the fair value gap and the consolidation of lows.
- ICT describes a smart money reversal and the importance of relative equal highs.
- ICT shares the process of entering trades and managing stop losses, emphasizing the need for flexibility and patience.

# Detailed Market Analysis and Execution
- ICT provides a detailed analysis of the market, including the use of order blocks and the change in state of delivery.
- ICT explains the importance of understanding the market maker sell model and the need for redistribution.
- ICT shares the process of entering trades and managing stop losses, emphasizing the need for flexibility and patience.
- ICT discusses the importance of understanding the market's behavior and the need for a structured approach to trading.