ICT Forex Scout Sniper Basic Field Guide - Vol. 6

Summary

本视频是ICT狙击手系列的第六部分，主要探讨了交易中风险控制的重要性。视频中讲解了如何通过设定风险百分比、有效止损以及在不同情况下如何管理风险。同时，通过欧元/美元等货币对的实例，展示了如何使用斐波那契投影来预测市场动向，并强调了在市场不利时如何通过时间止损来保护资本。视频还提供了关于如何设定多个盈利目标和在不同时间框架下交易的原则，旨在帮助交易者建立一套完整的交易策略。

Takeaways

• 📈 交易风险管理是交易成功的关键，不能完全消除风险，但可以通过策略来控制和减轻风险的影响。
• 🎯 通过观察之前的交易作业和预测摆动目标，可以更好地理解市场行为并为未来的交易做准备。
• 🚫 不要将止损放置得太紧，以免市场的正常波动导致提前退出有利可图的交易。
• 💰 交易时应限制每笔交易的风险在账户权益的1%到2%之间，以降低单笔交易可能造成的重大损失。
• 📉 在面对亏损时，应该减少接下来的交易风险，而不是试图立即通过加大风险来弥补损失。
• 🕒 使用时间止损策略，如果交易在一定时间内（如日线图上的3天）没有按照预期方向移动，应考虑减少风险或退出交易。
• 📊 利用15分钟时间框架来管理止损，根据最近的摆动低点或高点来调整止损位置，以适应市场的变动。
• 🔄 在交易中实现利润后，应逐步将止损移动至盈亏平衡点或更低，以保护已获得的利润。
• 🌐 在不同的时间框架上交易时，要考虑时间因素和市场结构，以及支撑和阻力水平。
• 📈 交易者应该学会接受市场不总是能达到预期的目标，并且在达到一定利润后应该考虑部分平仓。
• 📝 保持交易日志和进行回测是提高交易技能和理解市场动态的重要手段。

Q & A

在交易中如何控制风险？

在交易中控制风险的方法包括减少风险和控制风险的时间。尽管无法完全消除风险，但可以通过设定止损、合理分配资金、遵循风险管理原则等手段来尽可能地控制风险。

什么是行业标准的风险百分比？

行业标准的风险百分比通常是每笔交易风险不超过账户总资金的2%。然而，更保守的做法是将风险控制在1%或更少。

如何设定止损来控制风险？

设定止损可以通过观察市场结构、支持和阻力水平以及时间因素来确定。例如，可以在关键的支撑或阻力水平下方或上方设定止损，或者使用斐波那契扩展水平来设定目标和止损。

如何使用斐波那契工具来设定交易目标？

斐波那契工具可以用来识别潜在的支撑和阻力水平，从而设定交易目标。例如，可以测量从一个高点到一个低点的价格波动，并在斐波那契的127%、162%和200%水平上设定买入或卖出的目标。

什么是市场对称性，它如何影响交易？

市场对称性是指市场价格行为的平衡和对称。当价格从高点下跌一定幅度后，理论上应该至少尝试上涨相同的幅度。这种对称性可以使得交易模式变得更加清晰和高概率。

为什么在交易中不应该追求最大化利润？

追求最大化利润可能会导致过度贪婪和不切实际的期望，这可能会使交易者忽视市场的真实动态和潜在风险。更重要的是保护资本，通过接受一部分利润并让剩余的交易继续，可以减少风险并提高长期的盈利能力。

如何使用时间止损来管理交易？

时间止损是一种在特定时间内如果市场没有按照预期方向移动就退出交易的策略。例如，如果基于日线图进行交易，可以在3天内没有看到预期移动的情况下减少风险或退出交易。

在交易中，为什么要避免在看到一些利润后立即退出交易？

立即退出交易可能会导致错过更大的市场移动，因为有利可图的交易往往不会在批发价格水平停留很长时间。此外，过早退出可能会受到市场波动的影响，导致在交易真正成熟之前就被止损。

在交易中，为什么要逐渐减少风险？

逐渐减少风险可以帮助保护已经获得的利润，并且减少因市场突然反转而造成的损失。这种方法还可以帮助交易者保持耐心，避免因急于恢复损失而做出冲动的决策。

如何使用15分钟图表来管理止损？

在15分钟图表上，可以找到最近的两个摆动低点（对于多头交易）或摆动高点（对于空头交易），并将止损设置在这些水平以下或以上10到15个点的位置。这样可以在保护利润的同时，给予市场一定的波动空间。

Outlines

00:00

📈 风险控制与交易策略

本段讨论了交易中风险控制的重要性，强调了即使无法完全消除风险，也可以通过策略来减少和控制风险。介绍了如何回顾之前的交易课程，包括如何预测摆动目标，并通过实例展示了如何在欧元/美元的牛市和熊市情况下控制风险和有效设置止损。此外，还探讨了交易者应该如何限制自己的交易风险百分比，以及如何在开放头寸中追踪止损。

05:02

📊 深入分析市场波动与斐波那契投影

这一段深入分析了市场波动，特别是如何使用斐波那契投影来预测市场动向。通过不同的时间框架，例如15分钟和4小时图表，展示了如何识别关键支撑和阻力水平，并利用斐波那契扩展来设定交易目标。同时，讨论了市场对称性和交易模式的识别，以及如何在不同的货币对中应用这些概念，如加拿大元和英镑美元。

10:03

🔄 市场结构与交易策略

本段内容继续探讨市场结构和交易策略，特别是如何在市场下跌时寻找买入机会，并使用斐波那契水平来确定潜在的目标价位。讨论了如何在市场结构中交易，并结合实际的市场行为例子，说明了如何在市场变动中寻找交易机会，以及如何在市场达到预期目标后调整交易策略。

15:04

🚀 交易心理与风险管理

这一段强调了交易心理和风险管理的重要性。讨论了交易者在面对盈利时的心理状态，以及如何通过设定止损和止盈来管理风险。提出了在交易中保持纪律和耐心的重要性，并建议交易者在连续亏损后减少风险暴露，以避免情绪化交易。

20:05

📉 应对市场波动的策略

本段内容讨论了在市场波动时的应对策略，包括如何设定止损以保护交易免受不利市场变动的影响。介绍了时间止损的概念，即如果市场在一定时间内没有按照预期方向移动，则应减少或关闭头寸。此外，还讨论了如何根据市场行为调整止损，以及如何在市场变动中保持警觉和灵活。

25:08

🌐 多目标选择与时间框架交易

这一段介绍了如何选择多个交易目标，并在不同的时间框架内进行交易。讨论了如何使用斐波那契投影来设定交易目标，并强调了在达到第一个目标后如何调整止损以保护利润。同时，提出了在交易中使用15分钟图表来管理止损的概念，并解释了如何根据市场行为调整止损位置。

Keywords

💡风险控制

风险控制是指在交易中采取措施来减少潜在损失的可能性。在视频中，提到了通过设定止损点和合理的风险百分比来控制风险，以及在市场不利时及时减少风险暴露。

💡止损点

止损点是交易者设定的一个价格点，当市场价格达到这个点时，会自动卖出以避免进一步的损失。在视频中，讲解了如何根据市场情况和个人风险承受能力来设定和调整止损点。

💡盈利目标

盈利目标是交易者期望从交易中获得的利润水平。视频中讨论了如何通过斐波那契扩展和其他市场结构工具来设定盈利目标，并强调了在达到这些目标时逐步减少风险的重要性。

💡市场结构

市场结构是指价格行为的模式，包括支撑和阻力水平、趋势线和图表形态等。视频中提到了如何利用市场结构来识别交易机会和风险管理点。

💡斐波那契扩展

斐波那契扩展是一种技术分析工具，用于预测价格可能的反转或目标水平。它基于斐波那契数列，并在图表上画出从低点到高点的扩展线。

💡时间止损

时间止损是指交易者在特定时间内如果没有达到预期的盈利目标或市场没有按照预期方向移动，就会选择退出交易的一种风险管理策略。

💡多头市场

多头市场是指市场价格上涨的趋势，交易者预期价格将继续上升并进行买入操作。

💡空头市场

空头市场是指市场价格下跌的趋势，交易者预期价格将继续下降并进行卖出操作。

💡交易心理

交易心理涉及交易者在交易过程中的情绪和心理状态，包括对风险的态度、盈利和亏损的反应等。视频中强调了控制情绪和遵循交易计划的重要性。

💡多时间框架交易

多时间框架交易是指交易者同时考虑不同时间周期的图表和信号来做出交易决策。这可以帮助交易者更好地理解市场动态并制定策略。

Highlights

本集将探讨交易中的风险控制，以及如何减少和控制风险。

将回顾前几集的内容，包括预测摆动目标和一些实例演示。

介绍了如何使用斐波那契扩展来预测价格目标。

讨论了交易时应限制在资本的一定风险百分比内。

解释了止损的概念以及如何根据风险每笔交易设定止损点。

强调了风险减少与紧急避险的重要性，并提出了另一个家庭作业任务。

通过实例展示了如何在不同的时间框架下使用斐波那契水平来确定市场转折点。

讨论了如何在市场对称性出现时识别高概率交易模式和设置。

介绍了如何在英镑美元等其他货币对中应用所学知识。

强调了在交易中使用时间止损的概念，以及如何根据市场动态调整止损。

讨论了如何根据市场结构和关键水平进行交易决策。

分享了个人交易经验，包括如何处理盈利和亏损的心态。

提出了在连续亏损后如何减少风险的策略。

强调了交易中耐心的重要性，以及如何逐步提高资本。

讨论了如何通过时间止损来管理交易中的风险。

介绍了如何使用15分钟时间框架来管理止损和追踪市场。

强调了在交易中不要试图获取市场的所有利润，而是要满足于获得一部分利润。

预告下一集将讨论如何选择多个目标，设置合理的退出价格水平，并介绍ICT利润分割比率。

Transcripts

okay guys welcome to the sixth

installment of the ICT sniper series and

we're gonna be looking at a few things

in this topic this is probably gonna be

one of the most brief out of the series

but I promise you were gonna have a

gangbusters the last two episodes in

this series this one's kind of important

because it it really focuses on the risk

aspect of trading and the element of

reducing risk and controlling risk while

we essentially can't remove entirely

every aspect of the risk we can do our

best to try to control it as best we can

and or mitigate the effects of risk over

a period of time in this episode we're

going to obviously look at every view of

the previous episodes assignment

projecting swing targets and I'm gonna

be looking at some examples and

projections an illustrative form and

we're going to be giving a euro USD

bullish example a euro USD bearish

example controlling risk and effective

stop loss placement okay we are we

looking at the concept of limiting your

trading to a defined risk percent of

equity what is the industry standard

what is ideal for most speculators and

when you're hot how high is high and

we're gonna get stop-loss concepts and

how many pips per risk per trade I get

this a lot in email and how to remove

risk in open positions trailing your

stop-loss and watching your six okay

we're looking at Risk Reduction vs.

bailout and we'll have another homework

assignment we're going to be studying

the average number of pips intraday

okay folks real quick just give you a

quick example for a bush

upside objective swing projection we

have this high here down that is slow

you see how we have this price swing

here now it's comprised of smaller price

swings this is a daily chart but the

overall swing is from this high down to

this low and the 200 extension which we

didn't give the actual level when I fib

in this series what we did talk about

the 200 being the pretty much the

maximum level that we like to see which

is a basically a measure move type of

price phenomena from this high to this

low that same range is the same thing

from that high up to this fib level you

can see it pretty much nailed the high

if we break this down you can go down

into a 4-hour chart

okay and what we're gonna look at here

is that market moving lower here we have

this swing up okay so there's going to

be a fall chrome point right here okay

and I'm gonna do I'm going to give you

fib projection right here and the two

hundred levels down here now we did wick

through it a couple times getting a

small little reaction here now but this

is the overall price swing and then

broke down here is D 127 easily reached

162 easily reached and then went down

below these market structure lows over

here okay so you can see the complete

fruition of the market maker cell model

here we have the consolidation the

breakout of it the first little pause in

here and rally up failure swing and then

subsequent optimal entries which we

called this advance right here on

Twitter and then slammed it down okay we

were calling in advance this level here

in this level in here as well you can

find that on Twitter again it's all time

and date stamped

now you could take this even further and

go down to a 15-minute time frame okay

and just simply looking at the fifth of

them ever you can see that we have this

swing here when it breaks this low here

okay it's going to be a focal point

right there

so anything moving down in price will

most likely be a fib level for downside

objectives

okay here's the 127 extension from this

low to high

it's 127 and 162 and then 200 extension

here and as a result prices up here okay

you can see just take these other fibs

off starting to blend well price is

moving lower you can see this rally up

once it takes the low that we're

anchoring the Fed from out okay this

being the fulcrum point you have your

127 your 162 and just fell short of that

you want an extension here and again

that's the reason why I don't really

marry the idea that the 200 is always

going to get hit I really like to 162

and I like going 127 obviously but we'll

break it down further in the next video

as to the other targets and other means

of looking for additional targets and

multiple targeting and that'll be in

part 7 and I know we've been dealing you

know or at least attempting to move

exclusively with the euro/usd pair for

this teaching series but just for you

know the sake of argument let's take a

look at two other pairs we'll look at

the Canadian dollar okay here's the

Canadian dollar and let's go down to a

chart okay and zoom out slope it

all right we have the market trading

lower into a level of support which I'm

not going to outline here but if you go

out to your higher time frames you can

find the order block where this reacted

to but if you use this high here market

structure shifts right there said this

becomes a focal point right there trades

up Kings bike comes back down fine

support that same level if you pull a

fifth from that point down to the lowest

low okay you have your 127 easily

reached 162 easily reached and then 200

very easily reached okay if you take

your FID level here's the 50% level or

fulcrum or equilibrium okay you can see

the 100 which is basically what you're

getting with that 200% Fed level okay

but I'm trying to teach you everything

is based on like a 50% basis okay so

it's like a 50% rule if it moves down

this many pips once it breaks that high

it should at least try to move this him

number of pips up okay and when it does

that we have what's referred to as

market symmetry and trading patterns and

setups become very very clean and very

high probability when that occurs okay

since we've taken out this low I'm sorry

this high rather here okay one could do

this when high down this low

you have 127 up here and you 162 up here

which incidentally is an old high back

here you zoom in you can see that is the

case over here and again it's assuming

we do have traction and continue to move

to higher the next pair we're going to

look at is the British Pound USD and you

guys a nice order block and then a

reaction of it this is put on the charts

in advance and you can see the reaction

of price afterwards but we're gonna look

at taking this fit off and we'll take

the rectangle office

see me a little bit okay now we have the

same scenario here we have price moving

down nice price leg here comes and

rejects this low okay there's several of

them in here that you can use obviously

we will use this one here this swing

when this high here we're anchoring gets

broke to the upside

you'll see the Fibonacci levels come

into play here's the 127 easily reached

162 and then 200 extension here okay

going back to this higher market

structure high here using that same

reference low this is how you trade

within a market structure so once this

high is violated right here we would be

looking for upside objectives 127 easily

reached 162 easily reached 200 level

easily reached okay let's go out to an

hourly chart same pair okay

it's scrolling a little bit and now

as soon as I can get this fib okay we'll

use this high here and price just

reached the 127 extension here in the up

side would be 162 and if you use this

high here all we're doing is moving out

to the next successive market height so

each one of these is a price swing you

have a high down that low you have a

high that same low okay these are all

reference points for reactions okay you

have 127 now here and you have this one

here and there's a lot of liquidity

sitting right above that these are all

our early candles unable to make a

higher high in here and we're about to

blow that out right now while recording

and then the 127 resides up there now

with these levels in mind okay

we're gonna highlight that 162

to 127 and

now while it is I'm going to reference

this larger price swing because remember

markets are fractal okay you have the

high down to the lowest low you see what

resides here here here's the 62% sweet

spot in Senate Senate race my level

there's a high probability the cable

will reach up to these levels in here

okay and it is Newt that

right in there okay and that would be a

good area to to hunt some scenarios we

have a little Block in here that could

be a factor if we get through this area

in here because this is a nice support

level never been retested so we may come

out to a 62% right

retracing all around that 160 125 level

160 130 so we could tap up into that but

any young calm blending a couple things

here but the Fibonacci price projections

but you hopefully got a few examples

here you can see how useful they are and

from the time we did our recording the

last time let's just give a cell

scenario we have this price rally up

when this low is violated as it is here

just low becomes a fulcrum point and any

price action from that point from that

low up here once it's violated lower

here's the 127 easily met 162 easily met

200% extension easily met okay

and you could probably see Keo actually

do that while recording this kind of

tempted I like to keep it on there just

to shake what it does but anyway you

just watch on your charts and in

retrospect but you can see obviously you

know the fibs when you have it in the

right direction they're very strong in

terms of looking for a high level upside

and downside objectives we have this low

made here from this high I'll just give

you a Polish scenario on the cable I'm

dragging in there as you can see the

levels the reactions to the high it's a

high down to that low 127 easily met

once if you too easily met do you want

an extension bang swept through it it's

a few times in here again this is why we

do not try to get all that we don't care

that it does this okay if one is able to

just get a piece that you got it in here

hang up to the 162 that's 210 pips

nothing wrong with that and who cares

about the remaining portion okay let the

Cubs eat all right so hopefully it's

been insightful to you guys

okay guys we're going to be looking at

how a stoploss plane placement is

utilized in your trading we're gonna be

looking at how risk percentage is an

important factor to your trading but

before we get into all that we're gonna

be looking at how obviously looking at a

bullish scenario here everything we

talked about in this example can be

flipped 180 degrees okay and you'll see

the opposite for selling scenarios okay

so every roll you see here just reverse

it and you'll get the understanding for

selling short in the market and in how

that control your stops and and such

okay we're going to assume that we have

a key level and our institutional order

block identified on our charts and again

we're gonna be looking at a daily chart

for this example and the market has been

showing in this crude example and

hypothetical terms that price would be

more or less trading down to our line

here of anticipation and as price starts

to move aggressively down to that level

we would be hopefully if we're not in

front of our charts we would have our

platform for trading alert us to the

fact that prices getting to our specific

higher timeframe price level as price

trades to that level again because we

are flexible we are not limiting our

perspective simply to one line therefore

it has to stop on that line turn on a

dime okay

there is a gray area in trading that we

identified earlier in the series and we

come to hopefully by now terms with the

fact that we can't get the perfection in

the market place in terms of turning

points okay we have rough ideas where

price should turn but even the highest

level key levels and support levels and

institution order blocks have a little

bit of gray areas where it could deviate

just a little bit but more specifically

we're gonna be highlighting obviously

all of our trades around key levels

round numbers institutional levels and a

confluence of support and resist

as factors with time of day okay so you

having time and price theory combined so

as price goes down into this level

that's when we are on the prowl for a

buy scenario okay we're trying to buy

during that event we don't want to be

buying after the move has already turned

around and everybody sees that it's a

swing low and it's moved out for three

or four days we want to be buying in a

suppressed market environment we're

going to be looking at bargain prices

okay and we don't want to be buying at

retail prices we want to be buying whole

sales okay so assuming that we used

information we talked about earlier in

this series in terms of framing a

reactionary level to a trade we're going

to assume that we anticipated at that

key level that the market had turned

okay and maybe retested and gave us an

optimal trade entry on a lower timeframe

now we're going to assume for this

example that we were fortunate enough to

catch a long position at that key level

okay and it's not important that we have

a specific price level in this example

because really what we're going to be

looking at is how traders are always in

my experience okay even when I was at

earlier developing trader I felt the

need to want to exit the trade

immediately as soon as I saw some gains

I had you know this overwhelming feeling

that I had to hurry up and get out and

close the trade if I was up several

hundred dollars I wouldn't you know

think wow this is good you know I've

taken losses and a series of losses this

feels good and I just would rather not

leave the market with another loss after

seeing these gains when you have a sound

entry many times those are the scariest

trades to hold on to okay because the

good trades don't spend their time very

long at wholesale prices they

immediately start to move to retail

level pricing okay in other words if

you're able to catch a very low price

point and you're long in the market

place you anticipate as a professional

trader prices moving rather aggressively

a

away from that level okay and that's

what we talked about earlier in our

series that the more conviction that we

see behind price moving away from from a

specific level that we hopefully

predetermined in advance that is what we

would anticipate seeing in our trades

once we've entered it we don't want to

see the market dragon its heels and and

lethargically moving around because

we're gonna be mentioning time stops in

this in this episode - I'm not gonna

beat it to the desk but I do use a time

stop and I'll explain it as we get to

that point but as the market starts to

move in our favor okay we would be

reaching for our predetermined price

points like we discussed in part 5 of

this series where we looked at the fib

to give the 127 and 162 extensions as

possible upside objectives now again

those with the confluence of supporting

factors with support resistance maybe

even pivot points something like an old

high or low - to frame those upper level

objectives not simply because the fib

calls that level we want to be looking

for other things as well again factoring

the time and day of week phenomenon as

well

now again getting back to this crude

example as we have here when the market

is now moving away from your entry point

okay one of the closest things to

insanity is when you have this

environment you know unfolding for you

profitably okay it's amazing how traders

and I know this firsthand okay when I

first began trading I would hold a

losing trade forever and forever and

forever

and I'm sure you probably felt that same

thing - and your trading because you

really want to see it turn around you

know it hope springs eternal not in

forex not in speculation and certainly

not in trading okay so the market

doesn't have to go back to your price

point okay if you look at the Dow just

look at anything from you know seven

months ago it's been a while since

impact there's levels okay so if you've

been waiting for the market to get back

to those levels

you just gonna grind these pieces okay

so don't do that have a predetermined

area where you would expect to cut your

losses short okay what is the industry

standard for risk okay you commonly hear

and I hear myself say it all the time in

these videos because I want a more or

less segue into the majority of

everyone's expectations and analysis but

really what I try to do is say okay look

everybody says 2% of your equity per

trade okay and if you're a really really

solid trader there's nothing wrong with

that

okay now I suggest that traders should

work within the realm of 1% of their

equity per trade now the reason for that

is assuming that you had a ten thousand

dollar trading account and you were

risking 1% how much money would be at

risk per trade 100 dollars against the

standard 2% which would be 200 hours per

trade total risk the way you determine

your pip size is you take that $200 if

it's 2% or 1% at $100 total risk of

assuming that you have a $10,000 trading

account if it's a $1,000 trading account

then it would be a $10 for 1% or $20 for

2% total equity risk per trade whatever

that dollar amount is percentage-wise

whether it be 1% or 2% ideally 1% or

less I can then I know that probably

sounds like wait and I can't make a lot

of money with that that's right because

if you're just starting out you need to

forget about making a whole lot of money

because you guys a whole lot of learning

to do so assuming that you did have a

$10,000 account okay and you've worked

with smaller accounts you've proven to

yourself that you could be disciplined

you have a track record of being

consistent you control your risk you

limit your losses

you let your profits run and your

targets started getting hit on a more

consistent basis you have a risk of 100

hours per trade which is 1%

$10,000 you take that $100 and you

divide that by the total pips okay

needed to justify your trade okay and

with the assumption that this is a daily

chart here it could be very easily in

the realm of 100 pips or more okay which

would put you at very very low leverage

for the trade which really in a way

isn't that bad but I know a lot of you

folks watching this really want to have

a little bit more bang for your buck so

using the concepts we used in the

earlier videos if you move down to a

lower timeframe you can reduce your you

do reduce your risk to less than you

know 50 pips anywhere between you know

30 40 is about ideal I in my opinion

because it allows the developing trader

to have a little bit of a fudge factor

where they're not expected to be so

precise with their stops okay and gives

you a little bit of flexibility because

I know

inherently that traders will rush the

entry or they will look for confirmation

in their eyes quote unquote confirmation

by letting the trade start to move a

little bit in their favorite and then

chase it but very close to their entry

price but still within the you know the

the risk parameters is permitted by

their method or this concept so if you

had that in mind okay you could have

basically three dollars and thirty cents

roughly per pip if you're treating a

$10,000 account with one percent risk

using a 30 pip stop okay

the reason why the industry standard is

2% sometimes you hear in certain circles

you could risk more than 2% okay because

that's what the real traders and the

real professionals are doing I can tell

you the real professional traders aren't

doing that okay they're not risking a

whole lot of their money for disclosures

sake I do risk as much as much as three

and a half percent that means I'm

trading with the higher time frame

weekly daily and for our all in the same

direction

things lined up with those three time

frames and I have a weekly bias that's

you know in the same direction and that

will allow me based on my abilities and

and experience trading I will risk up to

and it's not a whole lot that it happens

but up to three and a half percent of my

equity for one trade typically it'll be

anywhere between one and one and a half

percent because the time frames aren't

always lined up like that you'll have a

counter trend move going against one of

the primary higher time frame time zone

not time zones but time frame you know

weekly daily and four hour so if I'm

trading against that on a lower

timeframe obviously one one and a half

percent is a maximum for sure if I'm

trading with a daily and four hour in

the same direction I be as much as two

percent risk now how high is high okay I

think if anybody's risking more than you

know obviously three percent unless

you're really really proficient you

really know what you're doing and you

know how to turn your equity losing

string around because it's not just one

trade that you lose on guys sometimes

you get a couple of them in a row and

even the best traders out there will

suffer that and have suffer that

regardless of what they tell you so

assuming that's the case for you and

you're human like everyone else you have

to have an idea of how to control that

and the best way to do it is reducing

your overall exposure as you take losses

okay and I'll give you an example let's

assume from it you settled in on the

idea of taking 2% per trade if you take

a loss

you've lost 2% of you equity okay now if

you dressed 2% on the next trade again

thinking that well if I make the same

amount of money I lost on my previous

trade I'll get back to even that's where

the cycle begins okay you want to get

back to that previous

equity level that milestone net marker

okay that comfort-zone internally as a

trader and that's not a good game to

play okay and what happens is is you're

actually inviting more emotional

response and triggers into your trading

then you should have okay and by

systematically and methodically reducing

your risk in half okay for instance if

you took a loss at two percent you only

risk one percent on the next trade it

may take you two or three trades to get

back to that previous mile marker but it

guess what it's doing it's removing the

rush factor to get back to that point

and it's honing your patience with the

added benefit of lowering your overall

special exposure to the marketplace now

think about it you're in a losing

environment where you've had suffered a

loss for developing trader that is very

very hard to swallow regardless if it's

a demo account or not because you are

still working within the realm of

psychological and emotional barriers

that you just simply don't understand it

until you've traded through it or you've

experienced it and said this isn't for

me and I you know leave the market

altogether and there's nothing wrong

with that because trading is not for

everyone and it would be irresponsible

of me as a mentor to not at least

suggest that to some of you because if

you can't wrap your mind around doing

this and assuming some level of risk

this is absolutely not your cup of tea

okay and that's one thing you can

guarantee coming from me as you the

gospel not everyone and on the planet

isn't meant to do this and it takes a

certain level of commitment and tenacity

to stick within a realm of rules and

humans are typically very good rule

breakers we don't like to you know

follow the rules and you just think

about if you walk down the street in a

well groomed neighborhood and you see a

sign says don't step on the grass what's

the first thing you want to do step on

the grass just look at a kid that's what

they're going to do you know I had I

made so many jokes as my children

growing up that they were like heat

sinking missiles okay we would get new

carpet in the home and my wife or guests

would come over and he'd invariably have

their their drink with them and in our

dining area or a living room or a family

room and our children would come in and

being kids they would roughhouse you

know just for a second and they won't

fall away from the tables or fall away

from the person the only person in the

room with the drink they fall and land

either on the drink or into the person

that drops and goes all over the you

know white carpet or at the time you

know we had a very light-colored

tan carpet and you know they drink you

caused havoc on it we had to get it

cleaned so those things are going to

happen so you have to prepare for it so

you're gonna have that in your trading

with wanting to do something you

shouldn't do and you're gonna have that

Murphy's Law scenario as well what can

go wrong probably will go wrong okay so

you have to have that that shield up in

your defense and that's only going to

come in the form of you controlling your

equity okay and if you take a loss don't

be afraid to cut your risk on the next

trade and if you had to do that

continuously down to a half percent

total risk of your equity that's fine

there's nothing wrong with that okay

remove from your mind right now that you

want to make millions of dollars right

now okay because that is the wrong

perspective going in there's nothing

wrong with having goals of doing that

but initially you have to take the bite

first okay and chew the elephant one

bite at the time you just can't go in

there and try to swallow it all at once

because you'll choke so with that in

mind okay once these moves start to move

in your favor

okay you you obviously want to be able

to remove the risk okay and at least

during the move

you know trading in your favor you want

to be removing a little bit of the risk

methodically until you get to the point

where you have zero risk or quote

unquote no risk exposure okay obviously

anything that happen marketplace and you

so

can happen the market could gap because

of a you know a terrorist event or

something unexpected and in the set or

whatever and there'll be a massive

movement and your your stop-loss

you know experiences of slippage these

are all things we understood when we

signed up for this game so bottom line

is is you know it can happen prepare

yourself for it because you're gonna

take losses and if you trade of any

length of time you're gonna have a lot

of losses okay and there's certainly

nothing wrong with it it's a cost of

doing business

every successful business out there

takes a loss of some sort but you don't

see those businesses collectively going

out of business okay they they trim they

put things you know up for sale just to

get rid of inventories moving real fast

and they bring in you the better movers

okay and that's what you do for your

trading if your trades aren't really

panning out yeah

cut the losses short okay or the mules

that aren't really moving you know just

get rid of them and then you keep your

powder dry waiting for the next set up

if you do that okay if you do that I

think you'll see a more streamlined

increase in your equity and I think

you'll remove a lot of that whipsaw you

possibly have been seen in your equity

curve when you're beginning balance and

where you're at now time stops okay I

have a premise that if the move doesn't

start if I'm if I'm trading off of a

daily timeframe and it really doesn't

start to move in my favorite after three

days okay I'm aggressively either

removing the risk if possible or I'm

taking half the position off okay and

I'm watching my six

the military has an expression that you

know wherever you're pointing your rifle

okay or a firearm in front of you that's

12 o'clock you're six is behind you okay

or watch your ass okay what you're

looking at in the marketplace when you

see trade it isn't moving in your favor

right away and I think three days is

enough time if it's still consolidating

or still him hauling around not really

moving I'm looking to either take half

the position off and move my remaining

position to either a break even or

aggressively take it to half the initial

risk or even a quarter of the initial

risk okay so I mean like the overall set

up that still might be there but it

could be iffy you know just watch your

six

take your in your position and cut it in

half remove aggressively half the

initial risk if possible or at least

reduce it down to a quarter of the

initial risk on the remaining half

positions you leave on or simply bail

out just collapse the trade okay and if

you're underwater just by a few pips so

what you know if you're risking thirty

and you're down 19 and you just see that

it's really not moving and you've gone

until Friday perhaps that's the worst

scenario for me I will collapse it and

just take whatever that is as a you know

it's a modest loss you know you didn't

get stopped out no you didn't get any

air targets but you're getting rid

getting rid of the dog or you getting

rid of the slow-moving inventory and you

want to get another hopefully more

opportune set up with your equity behind

it so that way you can recoup that and

if you do that you systematically I find

that it all of those little tiny

scratches it immediately gets smoothed

out quickly with you moving my equity

into a better more sound setup so time

stops is something that you to me I

think is beneficial there's a little bit

of an art to it but I break it down like

this if it's gonna be a trade that's

based off with daily setup I give it

about three days and if I'm trading off

a four hour I'm really giving it about

one day and one hour chart is I'm giving

it two sessions tops okay ideal either

little London or New York session if it

hasn't moved by then you know and so on

an hourly basis I'm really looking to

reduce the risk indoor collapse it and

anything less than that I really have a

time stopped for on outside of the

intraday timeframes of London - London

close blend open to London close rather

so assuming obviously that we have our

scenario that unfolded here

hypothetically and we

we bought long in this market whatever

that market may be we'll just say this

is the euro and the market starts to

move in our favor so we have some some

paper profits right now our stops are

still at an initial 30% I'm sorry 30

pips and we have not yet made our first

profit objective so what do we do well

you want to be systematically reducing

your risk if you started with a 30 pips

top move it down to only 20 pips and as

the market moves and takes out your

first target take your stop-loss move it

to only 10% risk okay and as it moves it

starts approaching your second target

that's when you go to break-even okay

you do not rush your stop trailing okay

this is one of the biggest mistakes

traders make because of the natural

volatility in the forex market it's so

easy for just common volatility nothing

behind it new market makers sneaking to

get you it's normal volatility okay

illiquid volatility okay where Marcus

come down Phil Phil's market

inefficiencies and they take the market

down to a specific level to gather up

any orders and then go the other way

okay we're not talking about stop raise

rates looking for common little intraday

retracements okay if you rapidly move

your stop-loss up behind market pricing

you're asking to get taken out of trade

before it comes to fruition okay once

you have the set up what you're doing is

you're anticipating the market to start

to move in your favor but this is a gray

area because you don't know for sure

it's going to do that okay yes the

market could potentially can even

continue to move in your favour or it

could turn around and stop you out or

could stay in this small little

consolidation area for days and make no

money for you but a small private profit

but you'll hold on to it thinking it's

going to go to the moon I know you

because everybody's the same way when

they're developing we all think the

markets are going to go like a rocket

either up or crash down

okay to the ground like I'm you know a

meteor just plummeting to the earth it's

they don't move in straight lines guys

okay so while we would anticipate okay

higher prices and we expect that

hopefully okay hopefully that we see

that again keeping in mind that's a gray

area

we're expecting those price levels be

reached on the upper side but they're

not promised okay

so inside of that that the gray area of

anticipation we have an expected outcome

and price action but we can effectively

manage our stops within that move okay

and there's a way that I do it but once

you have your set up the way I manage my

stop losses is I use a fifteen minute

time frame okay and the 15 minute

because this set up in this whole series

have been really developed on finding

one solid weekly setup where you can

take a really good setup for a weekly

opportunity to make a consistent realm

of pips anywhere between 30 to 60 pips I

think is an ideal scenario for someone

to you know try to carve out a

consistent living and if you are

consistently doing that there's

certainly no reason why you can't you

take a very handsome you know living out

of this market place and not try to a

whole lot of pairs either so why do I

use the 15-minute time frame well there

is very clear discernible dealing ranges

and support resistance levels okay that

are clearly discernible on that time

frame and it allows you to look at a

whole weekly perspective perspective

from Sunday to Friday's close perfect

example pick any pair of your choosing

load up a 15-minute chart

condense your chart so it shows Sunday

through Fridays close and you'll see how

that time frame gives you all of this

session highs and lows it even gives you

a very clear snapshot of all of the the

volatility for those particular sessions

London New York Asia and you can

actually see where the range highs and

lows are very clearly and then you

see the small little quiet points of the

marketplace in between those sessions

also the notion of find the weekly high

by Tuesday are no later than Wednesday

is alone and open having that in mind ok

expecting a specific outcome based on

hard time frame direction on premise but

that assumption here being bullish we

will be looking for the Monday Tuesday

or Wednesday London open session low

making it for the weekly low by that

time okay notice Bob Wednesday's London

open to fair ladies typically got about

70 percent likelihood that the low is

usually formed by Tuesday's long and

open just reverse that obviously

forebears conditions but you know the

way I manage my stops once they've moved

to break-even I use a 15-minute time

frame and I find the most recent swing

low on a 15-minute basis and note that

one and then I go back to the previous

swing low prior to that one that swing

lows where I take my stop and I just

place it just on in bullish environments

just beneath it by 10 to 15 pips okay 10

to 15 pips below this second most recent

swing low I want a 15-minute time frame

and I trail the market like that

I'm getting my market doing a little bit

of opportunity okay to retrace but not

come all the way back down if it comes

back down that far I'm accepting the

fact that you know the move is probably

done I missed it ideal opportunity to

get out or the markets reverse and my

analysis was wrong and there's certainly

nothing wrong with admitting that but by

using the previous two swing lows okay

what it's doing is its allowing

successive 79 percent retracement levels

okay and when we look at an example so

you'll see what I mean by that but it

just it builds in a allowance for market

structure to continue to make higher

highs and higher lows okay plus it keeps

it away from just the pure static

volatility coming down and tagging you

okay that's the reason why you want to

be taking some profits

okay initially okay it may be 20 pips

maybe 30 pips and maybe getting one for

one and let the remaining portion of

your trade unwind okay and then reach

for hard objectives there's nothing

wrong with that but there's gonna be a

camp out there that listens to this and

says well yeah you're risking 30 pips

but then when you cut the position in

half at 20 or 30 pips you're really not

making you know any headway with doing

it well I beg to differ okay if you have

consistency on your side you are

shielding yourself from the inevitable

market turnaround while you're in the

trade where it does have a small profit

okay and there's nothing guaranteeing

it's gonna even get to your first target

objective or a second or move in your

favor at all

okay that camp that believes that taking

some partial profits has a fixation to

thinking that they're always going to be

right so therefore their trade should

hold on to the maximum lots that were

assumed at the beginning a trade for the

full duration of the trade with the

expectation of making maximum profit my

goal was a professional trader and it

should be yours as well

your goal is to have the maximum

protection from losing your money

because the likelihood of you doing that

is almost guaranteed versus the

likelihood of you making money

consistently okay think about that for a

moment if you didn't listen to it

closely rewind this video for a second

couple minutes and then go back and

listen that person part again because it

is worth its weight in gold it's so easy

for us to think that we're gonna make

more money if we hold more reach for

higher price objectives or lower price

ejections if we're short there's no

guarantee it's getting there no

guarantee and there's been so many times

where I've been so close to the actual

highs and lows of the particular market

I was trading okay and I'm talking

weekly highs where the market turned

around and then went months the other

direction okay I have been so close

where I've just been a partial I mean a

piece of a pip not even a full pip and I

didn't get my exit okay and to me I hate

that feeling a lot of folks would say

yeah that's that's cool

crazy accuracy yeah but I didn't get out

at that point so how accurate is it it's

just cuz I said it was gonna go there or

I had an order to get out and it only

trades a half a pip to that point and it

doesn't activate you know the order that

doesn't make me smart it doesn't make me

an excellent trader it makes me a person

that missed that move okay I didn't get

my trade off like I wanted to and

initially as a commodity trader I you

know I would make that mistake and it

would it would get close to my orders

and I'm saying this when I started

getting consistent that when I first

started because I wasn't that accurate I

didn't know anything I was just fine you

know flying but I see my pants the the

notion of holding on to moves to get the

last piece of the pie is you know it's a

losers mentality you don't want to do

that you just need a big portion of the

move and I just think like a line you

know to me I think he's you know he's it

on the ona you know the terrain of you

know the outback or you know not out

back I guess the Africa's plane I guess

as well I think you know but uh you when

they when they eat okay they eat a large

portion of whatever was taken down by a

lioness okay but they're not consuming

everything and those are what the lion

does okay he lets the lionesses do the

work they chase down the prey they take

it down they kill it okay they made me

get in the nib or two okay but he comes

over there and says okay look it's

obvious this thing's dead I'm not

wasting any effort okay gonna go over

there and I'm gonna run them off I'm

gonna eat what I want and I ain't gonna

consume it all I'll leave a you know a

portion of 72 but he's getting the

lion's share every move has a lion's

share all you need is a portion of that

are the lionesses starving no are the

Cubs starving no everybody's gonna get

their piece at a pie but you don't have

to rush in there trying to get to very

very low and get to very very high in

other words you don't need to make the

kill and it turns the market around and

you don't have to make

the apex you know hi okay you don't have

to find a very lowest point of the low

okay you leave a little bit on there

okay let those other traders try to

chase all that stuff you don't need that

and the same thing applies and it's

applicable to your stops give it some

room don't be afraid to have the market

come back against you in some of the

exercises that you need to be doing is

to have a demo account and put your

trades on and let them come all the way

down to your stop okay don't think about

targets just think okay I'm gonna be

buying today at you know eight GMT

regards to wherever the prices going up

at 30 pips top one and just watch what

price does okay and just assume what

you'd be feeling if you were in the

market place at that time how the market

trades down to your stop what it does

after it hits it okay and then start

applying it with your tools that we

learned in these videos

okay applying the price action study

then using a 30 pip stop below the entry

point at where you enter that okay and

watch the market move once it takes the

first profit target that we could

discuss that 127 extension or an old

high did you pull your own fib from when

you see that first target hit

don't move your stop up okay

do a couple trades like I do about 20

trades or so like that where you just go

to break-even once the first targets hit

and then wait for the second target if

that be fulfilled do not move the stop

either you get the second target or you

get stopped out do that for twenty

trades okay and it's obviously easier

and faster to do it on intraday basis

like doing you know five minutes 15

minutes setups but some of you traitors

and can't do that because you're you

have jobs or whatever but and that's

fine but they eventually then graduate

to moving your stop-loss

in the form that we just discussed now

by having a 15-minute time frame use the

most two recent swing lows for bullish

scenarios 10 to 15 pips below the lowest

or the most recent to swing lows okay

and obviously just for clarity for those

that are selling short using your demo

account

yeah I got a pet in here I'm not trying

to tell you do anything about the real

money guys I'm not licensed to do that

it's just ideas to stimulate you your

decision-making the selling scenario you

would just use the 15-minute most recent

to swing highs and the highest of the

two you would use your stop-loss

10 to 15 pips above it and you would

trail that accordingly until it hits

your ultimate target that's really the

essential you know element to having

stop-loss management there's nothing you

much deeper than that it's very simple I

try not to complicate it I used to have

all kinds of intricate ways of doing

this and doing that and I found that you

know just simply by taking a 15-minute

chart use the most recent swing lows and

highs whatever - whatever those two are

whatever the lowest one is that's where

I'm gonna have my stop you in

relationship to where price is now

okay guys in episode 7 we're looking at

selecting multiple targets are we

talking about setting limit orders at

logical price levels for exits and we're

gonna be talking about the ICT split

gains ratio leaving some for the just in

case scenario principles for multiple

time frame trading and we'll have the

foundation to success that will be given

to you in blue point format in the final

episode in this series part 8 and I

think you'll have a pretty good idea

what should be done from the beginning

to end stages and I'm using in a flow

chart format for the part 8 series where

you know if the condition is X then you

go to this next condition once that

condition is met you go to the next so I

mean I'm look I'm a computer programmer

and I guess anyone that has computer

programming experience you would

understand that it's if then you know

scenarios that we learned in computer

programming if if you can't really build

a mindset of trading after part eight

I'm gonna readily admit that I've failed

in in sharing some insight on how you

could become more consistent trader I've

put a lot of work and it may seem like

there's been a lot of time between these

individual videos but it's actually been

a whole lot of work on that last one

because I've tried to give the blanket

scenarios for in the common setups that

we see you over and over and over again

this very generic in the marketplace and

it won't catch every single move guys

and don't expect out of anything but I

think you'll be pleasantly surprised how

many opportunities it will give you and

what to do and why and once you do it

for a few months you won't need the flow

chart

format you'll just simply know you know

by habit of what you should be doing

next in and what to do you know while

the setups are you know you developing

so hopefully this has been insightful to

you guys and until the next time we

should be looking to trading