ICT - Mastering High Probability Scalping Vol. 2 of 3

Summary

This video script discusses mastering high-probability scalping by focusing on daily bias and bank liquidity runs. It explains how to identify optimal trade entry scenarios using daily charts, swing highs, and lows, and emphasizes the importance of waiting for specific criteria to anticipate buying or selling opportunities. The speaker also shares insights on setting realistic trading goals and the potential of achieving consistent profits with a disciplined approach.

Takeaways

• 📊 The video discusses 'Mastering High-Probability Scalping' with a focus on daily bias and bank liquidity runs, using the daily chart for analysis.
• 📈 A bullish stage is identified when a swing high is broken, indicating a future buying opportunity and the need to wait for specific criteria to enter a trade.
• 📉 The criteria for a bullish trade include the formation of a swing low on the daily chart that does not take out a previous recent swing low, followed by a break of the swing high.
• 🔍 Traders should be on alert for a retracement after a swing high is broken, anticipating a buying opportunity when the market finds momentum on the upside.
• 🕊 In a bearish scenario, the strategy involves waiting for a swing low to be broken on the daily chart, setting the stage for a bearish market condition.
• 🔑 Key points for a bearish trade include not breaking a previous swing high immediately before the swing low that has broken a previous swing low.
• 🚀 The importance of waiting for the third candle in a swing high or swing low formation to be traded through on the following day is emphasized for optimal trade entry.
• 🌐 The video mentions that setups may not occur every trading day, but emphasizes the importance of patience and waiting for the market to present opportunities.
• 🎯 The presenter suggests aiming for 25 pips or so per week, which is a realistic and achievable goal for traders, especially when starting out.
• 📉 The concept of 'time and price killzone' is introduced, which involves framing the entry and exit points based on optimal trade entry levels and previous day's highs or lows.
• 📝 The script concludes by highlighting the importance of having a clear strategy and realistic expectations, focusing on consistent returns rather than large, unpredictable gains.

Q & A

What is the main focus of the video 'Mastering High Probability Scalping' volume two?

The main focus of the video is on the concept of 'previous day bank liquidity runs' and how to implement the daily bias strategy on a daily chart for high probability scalping in trading.

What is meant by 'daily bias' in the context of this video?

The 'daily bias' refers to a trading strategy where the trader waits for a swing high or swing low to form and be broken on a daily chart, signaling a potential bullish or bearish market condition respectively.

How is a swing high identified in the context of the daily bias strategy?

A swing high is identified as a candlestick pattern on the daily chart with a lower high to its left and right, and when it is broken, it signals a potential bullish stage.

What criteria should be met for a swing low to be considered in the daily bias strategy?

A swing low should have a higher low compared to the candlesticks to its left and right, and it should not take out a previous recent swing low, indicating a potential optimal trade entry scenario.

What does the video suggest to do after identifying a swing high or swing low on the daily chart?

After identifying a swing high or swing low, the video suggests waiting for a retracement and then looking for the third candle to form. The trader should anticipate the high or low of this third candle to be traded through on the very next day.

What is the significance of the third candle in the context of the daily bias strategy?

The third candle is significant as it completes the swing high or swing low pattern. The trader should anticipate the high of a bullish swing low or the low of a bearish swing high to be traded through on the next trading day.

What is the recommended approach for setting up trades based on the daily bias strategy?

The recommended approach is to wait for a setup that aligns with the daily bias, focusing on the retracement levels and the optimal trade entry price. The trader should aim for a specific number of pips per week and not force trades.

How does the video address the concern of not getting a setup every single trading day?

The video acknowledges that not every trading day will have a setup and emphasizes that it's not necessary to trade every day. It suggests focusing on major currency pairs against the dollar, which can provide about three to four solid setups per week.

What is the suggested weekly target for traders using the daily bias strategy?

The video suggests a realistic target of about 25 pips per week, which is achievable with one or two good setups. It emphasizes the importance of consistency and gradual growth rather than seeking large, unrealistic gains.

How does the video explain the importance of patience and discipline in the daily bias strategy?

The video emphasizes the need for patience by explaining that setups may not present themselves every day and the importance of discipline by sticking to the strategy's criteria without forcing trades or deviating from the plan.

What is the role of 'kill zones' in the daily bias strategy as discussed in the video?

The 'kill zones' refer to specific price levels that the trader should aim for when entering a trade. The video suggests using these zones to set realistic expectations for the potential profit from each setup.