2022 ICT Mentorship - Bridge Builder: ICT Concepts Overview

ICTShark · July 7, 2024, 6:33am

Notes

In this lecture, Michael teaches how to build a trade idea, using the bridge metaphor.
The goal is to teach students the concept of bridging the gap between where the market is currently and where it might go.
He also explains many ICT concepts such as Breakaway Gap, Measuring Gap, Balanced Price Range, or Measured Move (Swing Projection).
We should be prepared to mitigate risk by taking partial profits and adjusting stop losses as a trade moves in our favor. This helps lock in gains while reducing exposure.
Success in trading requires patience and realistic expectations. Michael stresses that new traders should not expect to make quick profits. Trading is a skill that takes time to master, and the journey requires consistent practice and backtesting.
If someone is impatient or expecting quick results, they are likely not ready for live trading. The goal is to become comfortable with our strategy and disciplined enough that trading becomes a repetitive, almost boring task that no longer excites the trader.
Trading is not for everyone, especially if the individual is not prepared to put in the necessary time to backtest and practice.
Impatience and rushing into live trading can lead to significant losses. The process of becoming a successful trader involves not just technical skills but also discipline.
Experience is key. By studying historical price data, observing market patterns, and conducting backtesting, traders learn to build a framework for understanding future market behavior.
Breakaway gaps and Measurig gaps tend to remain unfilled.

ES - Dealing Range High And Low