How To Build Your Own Profitable Trading Model - By ICT Himself

Summary

The speaker emphasizes the importance of mastering one trading model and sticking to it, rather than constantly searching for new strategies. Success or failure in trading comes down to individual responsibility, with time-specific market patterns like the New York session offering key opportunities. The speaker warns against distractions and procrastination, urging traders to focus and put in the effort before facing upcoming challenges. Consistency, discipline, and a solid foundation through models like the 2022 model or Silver Bullet are critical for long-term success.

Takeaways

• 📊 Focus on mastering one trading model rather than constantly seeking new ones to build a solid foundation.
• 🔍 Backtest and analyze market patterns to understand when specific trading behaviors occur, ensuring evidence-based decisions.
• 💪 Your personal accountability is crucial; your success or failure in trading largely depends on your actions and mindset.
• ⏰ Timing is essential in trading; be aware of specific times when the market tends to form highs and lows.
• 🚫 Avoid being a 'professional student'—apply what you've learned instead of waiting for more information.
• 🔑 The 'final puzzle piece' in trading success is often your own mindset and approach to learning.
• 📅 Recognize that different models and strategies can be applied across various markets (Forex, futures, crypto) during specific sessions.
• 🧠 Eliminate distractions and procrastination to focus entirely on developing your trading skills.
• 📈 The speaker stresses the importance of having a baseline experience to effectively navigate market conditions.
• ⚠️ Be prepared for significant market changes and ensure you're focused on your trading education to adapt effectively.

Q & A

What is the main message of the speaker in this script?

The main message is that individuals should focus on mastering one proven model or system, avoid constantly searching for new methods, and take personal responsibility for their success.

What does the speaker mean by having a 'baseline'?

A baseline refers to a solid foundation or starting point, such as a specific model or method, that a person can consistently rely on. This helps establish a sense of direction and reduces confusion from constantly changing approaches.

What does the speaker imply by calling someone a 'professional student'?

A 'professional student' is someone who continuously seeks new knowledge but never applies what they've already learned. The speaker warns that this mindset can lead to stagnation rather than progress.

Why does the speaker stress the importance of sticking to a specific time of day for trading?

The speaker emphasizes trading during specific times because market patterns tend to form at predictable intervals, like during the New York or London sessions. Consistency in timing helps traders focus on high-probability setups and avoid wasting time on unpredictable market movements.

What does the speaker mean by 'Pick Your Weapon'?

'Pick Your Weapon' refers to the idea that the speaker has provided multiple models or approaches for learning or trading. It’s up to the individual to choose the one that resonates best with their style, but no model will work unless it is mastered and consistently applied.

How does the speaker suggest overcoming procrastination?

The speaker advises against procrastination by urging individuals to put distractions aside, such as social media or entertainment, and focus solely on developing their skills. Dedication and discipline are necessary to succeed.

Why does the speaker refer to some challenges as a 'shitstorm'?

The speaker uses the term 'shitstorm' to warn of upcoming difficult times. This serves as a reminder that the road to success will be tough, but being well-prepared and focused will help navigate through these challenges.

What is the role of personal responsibility in the speaker’s message?

Personal responsibility is central to the speaker's message. The individual must take ownership of their learning process, avoid blaming external factors, and consistently apply what they’ve learned to achieve success.

What does the speaker mean by 'trading blindly'?

'Trading blindly' means making decisions in the market without a clear, structured plan or model to guide actions. The speaker encourages traders to avoid this by sticking to proven strategies and recognizing patterns at the right times.

How does the speaker suggest using the models provided for trading?

The speaker suggests using the models as a baseline, allowing traders to focus on learning the specific times and patterns where the market tends to behave predictably. Mastery of these models, rather than jumping to new ones, is key to long-term success.