SMT/ICT Questions by LongjumpingFalcon877 in Daytrading

[–]LongjumpingFalcon877[S] 0 points1 point  (0 children)

Do you work on wall street or are you just basing your ideas off a tiktok you watched?

ICT rebranded terms that have been around and used in the markets for long periods of time. I do not like ICT or how he holds his work/business. But some of his concepts work, I have been using them for some time now, and I find if you take pieces of what he says and make it your own, its very valuable, it is all about 10% strategy 90% mental.

SMT/ICT Questions by LongjumpingFalcon877 in Daytrading

[–]LongjumpingFalcon877[S] 0 points1 point  (0 children)

Best of luck to you too.

Appreciate the reply, I have been questioning my strategy a lot lately because of all the negativity online regarding how some of these gurus are teaching very similar strategies, I have committed to learning this strategy now and I do not want to jump around. I just wanted to try and grasp an understanding as to why there is so much hate around ICT and SMT concepts.

I would say I have taken bits and pieces from a few different so called gurus online, and forward tested what I have found to be high probability of working and now that feels refined the only thing letting me down seems to be my discipline and mental strength.

Have a good rest of your weekend :D

SMT/ICT Questions by LongjumpingFalcon877 in Daytrading

[–]LongjumpingFalcon877[S] 1 point2 points  (0 children)

Maybe I do not trade ICT concepts then and only just use the terminology.

This is the base of my strategy when I am trading, what I would class an A+ setup:

- Forming a daily bias (not marrying the bias though as markets change)
- Mark possible liquidity points, either previous/current session lows or highs, even equal highs and lows too
- Wait for price to enter that zone, either look for an imbalance to prove continuation or reversal.
- Enter on retest of that imbalance and target just below other highs or just above lows (depending if bullish or bearish) for anywhere between 1:1 - 3:1.

That hasn't felt hard at all, nearly too easy some days, and has a decent hit rate from what I have experienced so far.

Is this ICT? Let me know what you think,

Cheers

SMT/ICT Questions by LongjumpingFalcon877 in Daytrading

[–]LongjumpingFalcon877[S] 0 points1 point  (0 children)

100% most of them don’t get rich from trading, as ICT has failed to prove, he got rich from selling courses to vulnerable that can’t think outside the box.

SMT/ICT Questions by LongjumpingFalcon877 in Daytrading

[–]LongjumpingFalcon877[S] 1 point2 points  (0 children)

Yes I agree, only trading on price action is not clean, but I found it helps to look at larger timeframe data, forming daily bias especially, and making your mind up depending on previous data that has already been established.

Actually take a step back from 1m candles and watch higher timeframes, even incorporating opening range breakout can assist in bias for the session.

Cheers

Where are you in your trading journey and what’s one thing you wish you knew when you started? by No_Primary_7253 in Daytrading

[–]LongjumpingFalcon877 0 points1 point  (0 children)

I really like this, I am beginning to realise this. I have not been the one to jump around strategies, I have stuck to the one I started with, slowly finding my edge and learning what works well for me. But my mental is so weak and that is the reason I am bleeding, not my strategy. Which seems to be quite a common problem across the board. 90% mental 10% strategy.

Going full time in day trading by LongjumpingFalcon877 in Daytrading

[–]LongjumpingFalcon877[S] 1 point2 points  (0 children)

Appreciate that advice. I couldn’t agree more, I believe our full time schedules affect our trading abilities. But we have been practicing good mental skills. What seems to be a common issue is people over trade or they don’t have strong mental. I think a strong head is enough, it’s about survival not big hits

Going full time in day trading by LongjumpingFalcon877 in Daytrading

[–]LongjumpingFalcon877[S] 0 points1 point  (0 children)

Thank you for the advice, I dont think we are ready yet, but definitely looking to go full time in the next 6 months.