ICT 2022 Mentorship Model: ክፍል 10 – New York AM Session Live Trade #2 Execution

Introduction

This tutorial is designed to guide you through the live trade execution process as demonstrated in the ICT 2022 Mentorship Model session. The insights shared in this video are particularly relevant for those interested in Forex trading strategies and aims to enhance your understanding of market execution techniques.

Step 1: Understand the Market Conditions

• Begin by evaluating the current market conditions. This includes:
  • Analyzing economic indicators that might affect currency pairs.
  • Checking news releases and market sentiment.
• Use charts to identify trends and key support/resistance levels.

Step 2: Set Up Your Trading Environment

• Ensure your trading platform is ready for execution:
  • Open necessary charts for the currencies you will trade.
  • Set up indicators that help you make informed decisions, such as moving averages or RSI.
• Keep a notepad handy to jot down observations and strategies.

Step 3: Identify Entry Points

• Look for specific conditions that signal a good entry point:
  • Wait for price to reach a significant support or resistance level.
  • Use candlestick patterns to confirm potential reversals or continuations.
• Set alerts for these levels to ensure you don’t miss your entry.

Step 4: Execute the Trade

• Once you've identified a suitable entry point:
  • Decide on the size of your trade based on your risk management strategy.
  • Use limit or market orders depending on your strategy and market conditions.
• Make sure to monitor the trade closely after execution.

Step 5: Manage Your Trade

• Implement stop-loss and take-profit levels:
  • Set your stop-loss to minimize potential losses if the trade goes against you.
  • Define take-profit levels to secure profits when the target is reached.
• Continuously assess the trade and adjust stop-loss and take-profit as necessary.

Step 6: Reflect and Learn

• After the trade is closed:
  • Review the trade to understand what went well and what could have been improved.
  • Document your findings for future reference.
• Engage with the trading community to gain additional perspectives.

Conclusion

This tutorial provides a structured approach to executing trades effectively in live market conditions. By understanding market dynamics, setting up your environment, and managing trades wisely, you can enhance your trading skills. Remember to continuously reflect on your trades, as learning from each experience is key to becoming a successful trader. Consider joining trading communities or mentorship programs for further learning and support.