ICT Mentorship Core Content - Month 2 - The Secrets To Selecting High Reward Setups

ICTShark · March 27, 2024, 6:02pm

Notes

This lesson is a micro version of the Trading Plan Development series.
Michael uses only some things from the Trading Plan Development series.
A narrative has to be binary and very defined. If you don’t have a plan, this will lead to impulsive emotional trading.
Stop looking to do something right now. Professional traders are not in a rush. They sit back and wait for a scenario that makes sense.
When your big picture, intermediate, and short-term perspectives agree, that’s what makes a high-reward trading setup.
Not all four components of the big picture perspective have to agree. Two of them are enough.
For the intermediate perspective, only two of the three components must agree.
The least important component is market sentiment.
Monthly, weekly, and daily time frames are what stand behind the price movements.
Hedge funds (smart money) perform most of their analysis on monthly and weekly charts and execute trades on daily charts.
In the case of the short-term perspective, we need all three components to be in agreement.
Michael only needs a short-term perspective for his way of trading.
Michael claims that his win rate is around 90%.
The big perspective and intermediate perspective will be set on the weekend before the next trading week.
The short-term perspective can change daily.
In total, at least seven components must agree to generate a high-probability trade.

The Secrets To Selecting High Reward Trading Setups

The Secrets To Selecting High Reward Trading Setups - Steps

The Secrets To Selecting High Reward Trading Setups - Big Picture Perspective

The Secrets To Selecting High Reward Trading Setups - Intermediate Perspective

The Secrets To Selecting High Reward Trading Setups - Short-Term Perspective