2022 ICT Mentorship Episode 15

Update on YouTube Channel and Trading Live Account

In this section, the speaker provides an update on his YouTube channel and explains that he is on vacation. He also discusses his live trading account and aims to hit $50,000.

Aiming for $50,000

• The speaker aims to hit $50,000 in his live trading account.

• He is watching a potential fair value gap and wants to see the swing high broken.

• If the market structure becomes bullish, he thinks they can trade back to 14,000 on the daily chart.

Trading with Live Funds

• The speaker's live trading account is meant to show how averaging around 20% per month can be done without pushing the envelope.

• He reminds viewers that he can trade with live funds too.

Watching Price Movement

• The speaker watches price movement closely and highlights any fair value gaps.

• He waits for candles to close before making decisions about entering or exiting trades.

• When entering at market open (9:30 am), he waits to see if prices will whip below short-term lows before taking long entries.

Flexible Trading Strategies

• The speaker allows himself some flexibility when trading at market open because stops can be taken easily in volatile markets.

• He encourages viewers not to trade without stop losses but emphasizes that he is ready to click and close positions if necessary.

Targeting Higher Prices

• The speaker has a bullish daily bias and targets higher prices, aiming for the 80 level which would give him a nice figure of $50,000 on equity.

• He watches for an energetic run above the swing high and targets the 680 level, which is above equilibrium.

Analysis of Trading Activity

In this section, the speaker discusses their trading activity and strategy for the day.

Trading Strategy

• The speaker notes a small gap in the last three candles but does not expect it to be filled or revisited. If it were to happen, they expect price to be supported at 630 level.

• The speaker considers putting a stop loss on their entry and moving to the sidelines if they are taken out due to FOMC volatility. They advise being aware of economic calendars when trading equities.

• The speaker places a limit order and expects the price to go higher with little drawdown from their entry point. They mention having made a small scalp earlier in the morning.

Trading Results

• The speaker fills their limit order and ends trading for the day and month of March with two trades resulting in $1255 profit after commissions. They show their monitor tab displaying profit/loss since starting their account, which includes high commissions due to latency tests and mimicking new trader behavior.