2023 ICT Mentorship - ICT Silver Bullet Time Based Trading Model

Summary

The video script discusses an ICT Silver Bullet trade setup, a time-based algorithmic trading model applicable to all asset classes. It emphasizes the importance of ticks, points, and pips in relation to Forex and futures, outlining minimum trade frameworks for high probability setups. The presenter introduces various types of ICT Silver Bullet setups, focusing on specific time intervals and price action patterns. The aim is to teach traders to identify high-probability trades without needing precise entry or exit points, ultimately empowering them to make independent trading decisions.

Takeaways

• 📈 The ICT Silver Bullet trade setup is a time-based algorithmic trading model applicable to all asset classes.
• ⏱️ The minimum trade framework for index futures should be 10 points or 40 ticks, and for Forex pairs, it should be 15 pips.
• 🌟 The framework represents the best-case price movement expected, not the exact trade entry to exit range.
• 🔄 The model emphasizes a forgiving approach, allowing for less precision in entry and exit points over time.
• 📉 Types of ICT Silver Bullet setups include previous day high/low, previous session high/low, previous weekly high/low, and fair value gaps.
• 🕒 Specific time frames are crucial, with key setups forming between 3 AM to 4 AM, 10 AM to 11 AM, and 2 PM to 3 PM New York local time.
• 📊 The model uses time and price to identify high probability trading opportunities, focusing on specific 60-minute intervals each trading day.
• 📋 The emphasis is on determining the most likely next draw in price action, which is more important than the exact entries and exits.
• 💡 The presenter advises focusing on one market to become a specialist and to rely on the ICT Silver Bullet setups for consistent trading opportunities.
• 🌐 The model is designed to be self-sufficient, allowing traders to become independently minded and trust their own analysis.

Q & A

What is the ICT Silver Bullet trade setup mentioned in the script?

The ICT Silver Bullet trade setup is a time-based algorithmic trading model designed for all asset classes, focusing on specific time intervals and price movements to identify high probability trading opportunities.

What are the minimum trade frameworks for index futures and Forex pairs according to the script?

For index futures, the minimum trade framework should be 10 points or 40 ticks, while for Forex pairs, it should be 15 Pips.

How does the script define the relationship between points, ticks, and Pips in different trading assets?

In the script, 10 points or 10 handles for index futures are considered equivalent to 40 ticks, and 5 handles for indices are equivalent to 10 Pips in Forex, providing a conversion between the metrics used in different markets.

What are the different types of ICT Silver Bullet setups discussed in the script?

The script discusses various setups including previous day high or low, previous session highs and lows, previous weekly high or low, returning to a current or old new week opening Gap, and a confluence of inefficiencies above or below the market.

What is the significance of the 3 A.M to 4 A.M time frame in the ICT Silver Bullet setup?

The 3 A.M to 4 A.M time frame is significant as it is when the London open Silver Bullet setup forms, which is a high probability trading opportunity based on the creation of a fair value Gap.

How does the script suggest traders determine the next most likely draw in price action?

The script suggests that traders should focus on determining the next most likely draw in price action by identifying the next significant liquidity draw or inefficiency in the market.

What is the role of time in the ICT Silver Bullet trading model as described in the script?

Time plays a crucial role in the ICT Silver Bullet trading model, as the setups are linked to specific 16-minute intervals or windows during the trading day, providing a time-based framework for identifying trades.

How does the script advise traders to approach the learning and application of the ICT Silver Bullet setups?

The script advises traders to start by focusing on one or two markets, learn to read price action, and determine liquidity draws. It also suggests starting with one market to become a specialist and eventually becoming independent in analysis.

What is the importance of the 10 A.M to 11 A.M and 2 P.M to 3 P.M time frames in the ICT Silver Bullet setups?

These time frames are important as they represent specific windows when certain ICT Silver Bullet setups are likely to form, offering traders opportunities to enter trades with a high probability of success.

How does the script differentiate between the optimal trade entry and the actual trade execution?

The script differentiates by stating that the optimal trade entry is identified within a specific time frame, but the trade execution can extend beyond that time frame, emphasizing that the setup provides an entry point within a window, not a strict in-and-out trade.