2022 ICT Mentorship Episode 14

Trading Strategy Execution

In this section, the speaker explains his trading strategy and execution plan for the day.

Trading Plan

• The speaker plans to go long on 12 micros of the mini Nasdaq futures contract.

• He is looking for a gap fill from Friday's close and expects price to drop down into that fair value gap before running above 14,160.

• His initial interest is at 14,180 and he anticipates a possible run up to 14,220.

Watching Price Movement

In this section, the speaker discusses how he watches price movement and what he looks for in order to make decisions.

Monitoring Price Movement

• The speaker watches candlesticks instead of just focusing on profit numbers.

• He wants to see price constantly moving towards the small fair value gap around 14,122 - 14,138.

• He anticipates a consolidation in that area before reaccumulating for new longs.

Taking Profits and Adjusting Entry Points

In this section, the speaker talks about taking profits and adjusting entry points based on market movements.

Profit-Taking Strategy

• The speaker plans to take six contracts off if price runs up to his target of 14,180.

• He will then roll stops to even and try to get a limit order at 14,220 with smaller consolidation around that fair value gap level.

Adjusting Entry Points

• The speaker changes his mind about closing at 14,180 due to proximity of closure of the gap.

• Instead he closes at current level (141.60) with an eye on reaching 142.20 as doable.

Reaching Into Order Block

In this section, the speaker discusses reaching into an order block and how it gives him confidence in his trading strategy.

Reaching Into Order Block

• The speaker is looking at E-mini S&P micro to get a feel for the market.

• He sees that it wants to run as high as well, which gives him confidence in his trading strategy.

Conclusion

In this section, the speaker concludes by showing the business limit order filled and providing a final summary of his example.

Final Summary

• The speaker's limit order was filled at 141.60.

• He hopes that viewers found his example insightful and wishes them safety until next time.