VIDEO
HIGHLIGHT
Log InSign up
ICT Mentorship Core Content - Month 05 - Limit Order Entry Techniques For Long Term Traders
SummaryTranscriptChat

ICT Mentorship Core Content - Month 05 - Limit Order Entry Techniques For Long Term Traders

Introduction

This lesson is about using limit entry techniques for long-term traders.

Buying with a Limit Order

  • Use buy stops on monthly or weekly charts to suggest institutional order flow will be seeking a PD array above daily market price.
  • The daily chart should post a bearish candle and close the candle with a down close.
  • Place the buy limit at the bearish candle's close, which is the daily high, low, open, and close.
  • Enter a buy limit order at the close of the daily candle that has a down close while the market is bullish.
  • Expect higher price moves in the asset class being traded.

Selling with Limit Orders

  • Use sell stops on monthly or weekly charts to suggest institutional order flow will be seeking PD arrays below daily market price.
  • The daily chart should post a bullish candle and close the candle with an up-close.
  • Place the sell limit at the bullish candle's close, which is also represented by the daily high, low, open, and close.
  • Sell short in an overvalued or overbought condition in a market that's predisposed to go lower based on monthly and/or weekly PD arrays that will draw prices lower.
  • Look for bearish order blocks if there's a gap that it's traded into if it's filled in void if it's traded above recent highs.

Conclusion

This lesson focuses on how you don't necessarily need big turning points at tops or bottoms; you just need to meet in between and be a long-term trader still. Capitalize on many pips/points by doing these types of trades.

Trading with Limit Orders

In this section, the speaker discusses how to use limit orders to enter trades at low risk and high probability entry patterns.

Selling Short on a Limit Above Candle Close

  • By selling short on a limit above the candle's close, you can get the last little piece of market movement above.
  • This is an amazing entry pattern that provides really low-risk and high-probability opportunities.

Using Close as Limit Order to Buy

  • You can use the close of a down candle as your limit order to be a buyer.
  • Each down candle's close becomes your limit order, and if it trades down below it, you would be filled.
  • This strategy works well for day trades and swing trades.

Using Weekly PD Array or Bearish Order Block

In this section, the speaker explains how to use weekly PD array or bearish order block in trading.

Importance of Weekly Chart

  • The weekly chart shows how price moves away from certain levels.
  • There was a bearish order block up around 118/119 level and that was the weekly premium PD array that would draw price up to that level long-term.
  • We saw a bullish order block down in the discount level at 100 so you saw the willingness to want to bounce off that level.

Daily Chart Example

  • In November during Donald Trump's election rally in the US, price stabbed one more time down into that weekly bullish order block prior.
  • Using the down candle, buying below its close gave an amazing fill.
  • From there all the way up to the weekly PD array or bearish order block is 1800 pips for that particular low.

Other Examples

  • There are several other examples where buying below candles' close on a limit resulted in significant pip moves (785, 600, 500, and 360 pips).
  • These types of numbers are respectable and show that there are plenty of opportunities in long-term trends.

Do You Still Need Intraday Trading to Make Pips?

In this section, the speaker questions whether intraday trading is necessary to make pips.

Opportunities on Higher Time Frames

  • Daily time frames provide many opportunities for traders.
  • When you're in long-term trends and they have a clear indication of moving higher to a monthly or weekly level, there are many opportunities to get positioned without having to get the high.
  • Respectable pip moves can be made even if you're not a day trader or scalper.

Trading Ideas Framework

In this section, the speaker discusses a framework for trading ideas to be successful.

Focus on One Pair

  • The speaker suggests focusing on one pair.
  • This allows for a deeper understanding of the pair's behavior and patterns.

Timeframe Analysis

  • The speaker recommends analyzing the pair on a weekly and monthly basis.
  • This provides a broader perspective of the pair's behavior and trends.

Conclusion

  • The speaker concludes by wishing good luck and good trading.
Playlists: 2017 ICT Private Mentorship Core Content Month 05
Video description

2017 Premium ICT Mentorship Core Content Video Lectures Audio and visuals are exactly as they were distributed in January 2017. CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN Trading performance displayed herein is hypothetical. Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance trading results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results. U.S. Government Required Disclaimer – Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. Trade at your own risk. The information provided here is of the nature of a general comment only and neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person’s investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. You should seek appropriate advice from your broker, or licensed investment advisor, before taking any action. Past performance does not guarantee future results. Simulated performance results contain inherent limitations. Unlike actual performance records the results may under or over compensate for such factors such as lack of liquidity. No representation is being made that any account will or is likely to achieve profits or losses to those shown. The risk of loss in trading can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. If you purchase or sell Equities, Futures, Currencies or Options you may sustain a total loss of the initial margin funds and any additional funds that you deposit with your broker to establish or maintain your position. If the market moves against your position, you may be called upon by your broker to deposit a substantial amount of additional margin funds, on short notice in order to maintain your position. If you do not provide the required funds within the prescribed time, your position may be liquidated at a loss, and you may be liable for any resulting deficit in your account. Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example, when the market makes a “limit move.” The placement of contingent orders by you, such as a “stop-loss” or “stop-limit” order, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders.