Perfect 1:3 ICT Strategy If You HATE Your Day Job...
3 min read
6 months ago
Published on Apr 23, 2024
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Table of Contents
Step-by-Step Tutorial: Perfect 1:3 ICT Strategy for Trading While Working a Full-Time Job
Overview:
This strategy, called the Power of Two, is designed for traders who work a nine-to-five job and have limited time to analyze lower time frames. It focuses on using the four-hour and 15-minute time frames for directional bias and entry signals.
Step 1: Understand the Strategy
- The strategy utilizes the four-hour time frame for directional bias and the 15-minute time frame for entry signals.
- The key components include identifying fractal highs and lows on the four-hour chart and using the Kill Zone indicator on the 15-minute chart for entry opportunities.
Step 2: Setting Up the Four-Hour Chart
- Look at the current price and identify the horizontal array for the highest point and the most recent fractal low.
- Determine if the most recent fractal high has been breached, indicating a potential reversal.
- Wait for a bullish candle close to confirm a buy signal or a bearish candle close for a sell signal.
Step 3: Analyzing the 15-Minute Chart for Entry
- Focus on premium versus discount levels on the 15-minute chart.
- Look for entry signals during the London or New York Kill Zone.
- Wait for price to liquidate and provide an entry opportunity within the Kill Zone.
Step 4: Executing Trades
- Set alerts for potential entry signals on the 15-minute chart.
- Place buy stops above candles that indicate liquidity sweeps for buy signals.
- Monitor the trade without moving stops to break even and manage risk effectively.
Step 5: Managing Trades and Timing
- Be patient and wait for setups during active trading sessions.
- Avoid trading during dead zones to maintain discipline and routine.
- Monitor the charts periodically throughout the day for potential trade opportunities.
Step 6: Reviewing and Exiting Trades
- Evaluate the trade setups based on the strategy's criteria.
- Consider exiting trades at break-even if necessary.
- Aim for a consistent strike rate to achieve profitability over time.
Step 7: Further Learning and Support
- Join the robot Builders club for automated trading solutions.
- Explore additional resources and courses to enhance your trading skills.
- Connect with the Trading Nut community for support and guidance.
Conclusion:
By following the Power of Two strategy and incorporating the recommended practices, you can effectively trade while managing a full-time job. Remember to prioritize risk management, patience, and consistency in your trading approach to achieve long-term success.