ICT Charter Price Action Model 4 \ Trade Plan & Algorithmic Theory
The Inner Circle Trader
37 min, 9 sec
An in-depth guide to position trading with the goal of securing 500+ pips per trade.
Summary
- The trade plan begins with preparation, notably by consulting the economic calendar for upcoming high impact events.
- Determines the high and low from the last 20, 40, and 60 trading days for trade range analysis.
- Emphasizes the importance of seasonal tendencies and how they can suggest potential bullishness or bearishness.
- Outlines a detailed approach for trade execution, including where to place entry orders, stop losses, and take profits.
- Advocates for the use of correlated pairs, SMT divergence, and offset distribution for refined entry and exit points.
Chapter 1
Introduction to the position trading trade plan targeting 500+ pips per trade.
- The position trading trade plan is part of a series of ICT price action models.
- It consistently starts with preparation, opportunity discovery, trade planning, trade execution, and trade management.
- The same protocols and procedures are refined and applied to each model.
Chapter 2
Economic calendar consultation and determining the trading range for position trading.
- Consult the economic calendar for medium and high impact events.
- Study market structure and events to suggest a weekly range profile.
- Focus on monthly charts and seasonal tendencies for position trading.
Chapter 3
Identifying next draw on liquidity and seasonal tendencies for position trading.
- Look for the next draw on liquidity, aiming for a minimum of 500 pips.
- Review seasonal tendencies and core content for guidance on potential moves.
- Anticipate price movement in conjunction with economic events.
Chapter 4
Detailed explanation of trade execution, including entry and exit strategies.
- Seek convergence of manipulation and price opposite to the trade bias during volatility injections.
- Implement scalping protocols for further risk reduction.
- Target liquidity pools and fair value gaps as initial objectives.
Chapter 5
Strategies for managing an active trade and adjusting stop losses.
- Adjust stop losses as the trade progresses toward the expected objective.
- Take partial profits to manage exposure and reduce risk.
- Re-enter trades if necessary; multiple attempts at a solid entry are common.
Chapter 6
Approaches to managing risk when position trading.
- Use a 25 pip stop loss for entries, adjusting trade size based on risk percentage.
- Reduce risk percentage after a loss and increase it gradually after winning trades.
- Maintain a smooth equity curve by avoiding deep drawdowns.
Chapter 7
Analyzing Euro USD as a case study for position trading using the provided model.
- The case study utilizes seasonal tendencies and ICT concepts such as SMT divergence and offset distribution.
- Showcases an actual trade on Euro USD that fits within the model's parameters.
- Demonstrates the application of the model's theory to secure a high reward-to-risk ratio on a single trade.
More The Inner Circle Trader summaries
ICT Mentorship Core Content - Month 1 - Equilibrium Vs. Premium
The Inner Circle Trader
Detailed explanation of trading strategies using market equilibrium, premium levels, and Fibonacci retracement in the context of an ICT mentorship for September.
What The #1 Day Trader On YouTube Could Do With Funded Accounts & Trade Copier
The Inner Circle Trader
A detailed walkthrough of a live day trading session using the E-mini S&P, including strategy, risk management, and trade annotation.
ICT Forex - What New Traders Should Focus On
The Inner Circle Trader
The video provides a comprehensive guide on effective Forex trading strategies, focusing on identifying high probability setups and managing trades.