My Path to ICT: How I Learned ICT and Overcoming 3 Obstacles

Summary

In this video, the speaker shares their journey into ICT (Inner Circle Trader) concepts and the challenges they faced in their trading education. They detail the initial struggles with other trading courses, finding clarity with mentorship, and eventually transitioning to ICT’s approach, which emphasized concepts like timing and market structure. The speaker highlights common obstacles, such as unrealistic expectations, tight stop losses, and trading on short timeframes, and discusses the importance of self-improvement, avoiding perfectionism, and developing good trading habits for long-term success.

Takeaways

• 😀 Start with simple courses to grasp basic concepts, but be prepared for deeper learning and mentorship.
• 😀 Trading can be challenging, and finding clarity through a mentor is crucial for growth.
• 😀 Unrealistic stop losses and reward-to-risk ratios can lead to frequent losses and setbacks.
• 😀 Avoid the pressure to mimic other traders' success, especially when it’s presented unrealistically on social media.
• 😀 Trading on lower timeframes, like the 1-minute chart, often results in poor decisions and psychological strain.
• 😀 Mentorship can provide personalized feedback and a structured approach to trading, leading to more consistent results.
• 😀 Self-improvement is key, but progress should be measured by your own growth, not comparisons to others.
• 😀 Social media and community chats can create unnecessary pressure; it’s essential to focus on your own trading journey.
• 😀 Recognize that perfection in trading doesn't exist, and the quest for it can hinder progress.
• 😀 Keep refining your strategy through backtesting and forward testing, rather than relying on external opinions or strategies.
• 😀 Developing good trading habits, just like maintaining a fitness routine, requires continuous effort and focus on improvement.

Q & A

What motivated the speaker to start learning about ICT concepts?

The speaker was initially attracted to Forex trading and Excel courses after seeing chart breakdowns shared by Edward on Instagram. However, after realizing the course lacked clarity and personal engagement, the speaker sought out better learning opportunities and discovered ICT concepts.

What challenges did the speaker face with the first course they took?

The main challenges were a lack of clarity in the course material, unanswered questions due to a blocked community chat on Discord, and difficulty in getting personalized support, which led the speaker to search for more guidance.

How did the speaker's friend help them in their learning process?

The speaker's friend introduced them to IPA Trader's courses, which were easier to understand and offered a more structured approach to trading, providing a better foundation for their learning.

What was the key difference between IPA Trader's approach and traditional SMC courses?

IPA Trader emphasized the importance of timing and provided a more comprehensive understanding of trading fundamentals, whereas basic SMC courses primarily focused on concepts like order blocks, supply and demand zones, imbalances, and liquidity.

What did the speaker learn from the ICT mentorship courses?

The speaker gained a deeper understanding of key trading concepts, such as the importance of order blocks, market maker structures, and the power of three. These lessons helped refine their strategy and improve their trading performance.

What were the speaker’s key mistakes that held them back in trading?

The speaker's main mistakes included using tight stop losses (3-5 pips) with unrealistic risk-to-reward ratios (1:15 or 1:20), trading on the one-minute time frame which led to fake market structure breaks, and feeling pressure from social media to perform at a high level.

How did social media influence the speaker’s trading approach?

Social media pressure led the speaker to compare themselves with others who posted large profit ratios, which caused self-doubt. This external pressure eventually hindered their progress, and they realized that social media was negatively impacting their trading mindset.

What was the most significant change the speaker made in their trading journey?

The most significant change was stepping away from trading communities and social media. This allowed the speaker to focus on personal growth, refine their strategy, and avoid being distracted by others' trading results.

What does the speaker say about perfectionism in trading?

The speaker highlights that striving for perfection—such as having perfect entries and exits—can be detrimental. They acknowledge that perfection doesn’t exist in trading and that embracing imperfection and focusing on continuous improvement is essential for long-term success.

What advice does the speaker offer to those facing similar challenges in trading?

The speaker advises against self-sabotaging with unrealistic expectations and emphasizes the importance of developing good trading habits. They suggest focusing on progress rather than perfection and sharing experiences with others to learn from them.