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ICT Mentorship Core Content - Month 09 - 20 Pips Per Day
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ICT Mentorship Core Content - Month 09 - 20 Pips Per Day

Lesson 3: Trading 20 Pips per Day

In this lesson, the instructor teaches two methods to scalp and aim for 20 pips per day. The trader needs to do their homework and determine the current market environment.

Targeting 20 Pips per Day

  • The objective is to hunt for 20 pips as a daily objective.
  • Not every trading day is like all others, so some days may have more opportunity than others.
  • Ideally, bank 20 pips in any day trade that you take.
  • There are techniques one can use to fade out the 20 pip scalp almost every day.

Method One: Trading the Asian Session

  • This method is good for Yen all Z and kiwi crosses.
  • Buy setup during Asian session up to 12 a.m New York time by scouting short-term lows formed in New York session.
  • Sell setup during Asian session up to 12 a.m New York time by scouting short-term highs formed in New York session.
  • Timing off of a five-minute chart targeting fixed 20 pips stop loss and target.

Method Two: Turtle Soup Long Selling Setup

  • Scouting short-term highs formed in New York session trading short after Asia probes the highs.
  • Timing off of a five-minute chart targeting fixed 20 pips stop loss and target.

Conclusion

The lesson teaches two methods that traders can use to scalp and aim for twenty pips per day. The first method involves trading during the Asian session while the second method involves selling setups using turtle soup long selling setups. Traders need to do their homework and determine what the current market environment is before using these methods.

Trading the Asian Range

In this section, the speaker discusses how to trade inside of the Asian range by anticipating consolidation and using short-term highs and lows as entry points.

Trading Inside the Asian Range

  • The setup usually occurs before New York midnight.
  • Anticipate consolidation during the Asian range.
  • Fade a short-term high or low to take it in the opposite direction for 20 pips profit.
  • The potential for downside is often greater than just 20 pips.

Examples of Trading Inside the Asian Range

  • Dollar yen: Short-term high price trades above it during the Asian session, fade that for 20 pips before midnight during the Asian range.
  • Kiwi dollar: Short-term low price trades down below that short term low just probes it takes out liquidity below that short-term low and then rallies up for 20 pips profit.

Foreign Scalping

In this section, the speaker discusses foreign scalping and how to trade during New York expansion.

Foreign Scalping

  • Trade between 8 pm and midnight New York time.
  • Use all PD array matrix ideas in terms of premium discount to reach for them on lower time frames.

Trading During New York Expansion

  • Buy setup is during New York session up to 10 am New York time or scout short-term lows formed in the New York open.

Trading Strategies

In this section, the speaker discusses trading strategies for short-term highs and lows during the New York and London sessions.

Short-Term Low Strategy

  • When price trades below a five-minute short-term low, buy long in anticipation of a turtle soup pattern.
  • Look for expansion towards the five-day average daily range.
  • Fixed target of 20 pips with a stop loss at 20 pips.

Short-Term High Strategy

  • During the New York session up to 10 am EST, scout for short-term highs formed in the New York open session.
  • Trade short after New York probes the highs while London session posted the daily high and the five-day average daily range for that particular day is yet to be fulfilled or pending.
  • Fixed target of 20 pips with a stop loss at 20 pips.

Examples

AUD/USD

  • Price makes a low in London, has some expansion, retraces, and violates a five-minute short-term low.
  • Trades back down into an order block and expands well beyond 20 pips.

EUR/USD

  • The high of the day is formed during London's opening.
  • Price trades down then retraces above a five-minute short-term high for buy stops that had been trailed down.
  • Fixed target of 20 pips with a stop loss at 20 pips.

USD/CAD

  • Multiple opportunities can arise when trading off of a five-minute chart.
  • Look for price to break down below a five-minute low before taking action.
  • Fixed target of 20 pips with a stop loss at 20 pips.

Conclusion

In this section, the speaker concludes by stating that this pattern is a good guideline for trading in the Forex market and other markets such as S&P trading, Dow futures, triple cues, and stock trading.

Short-term Intraday Opportunities

The instructor discusses how to apply universal patterns to commodities, bonds, and other areas. They provide two concepts that can help traders find short-term intraday opportunities.

Concepts for Finding Short-Term Intraday Opportunities

  • Universal patterns can be applied to commodities, bonds, and other areas.
  • Look across a lot of pairs to find short-term scalping opportunities.
  • With 10 or 15 pairs, you'll find something like this panning out every single trading day.

Practice Makes Perfect

  • Short-term scalping is something you can practice on every day.
  • Don't try to get 20 Pips every single day.
  • Practicing on a great number of pairs will help you find opportunities more consistently.

Conclusion

  • Short-term intraday opportunities are not always there but generally available if you look across a lot of pairs.
Playlists: 2017 ICT Private Mentorship Core Content Month 09
Video description

2017 Premium ICT Mentorship Core Content Video Lectures Audio and visuals are exactly as they were distributed in May 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.