ICT Mentorship 2022 Introduction

Introduction

This tutorial serves as an introduction to the ICT Mentorship 2022 by The Inner Circle Trader. It outlines the key principles and strategies that will be taught over the course of the mentorship, focusing on simplifying trading concepts and enhancing your understanding of price action in both demo and live trading environments.

Step 1: Understand the Mentorship Structure

• The mentorship will guide you through three stages:

  • Yearner: Beginners who are eager to learn how to trade.
  • Learner: Individuals actively studying and applying trading concepts.
  • Earner: Those who develop the ability to trade profitably.

• Expect the mentorship to last approximately three to four months, with a break in March 2022 for personal time.

Step 2: Focus on Simplification

• The aim is to strip down complex trading theories to make them more accessible.
• Emphasize practical, straightforward trading models that can be easily understood and applied.
• Avoid analysis paralysis by minimizing unnecessary information and distractions.

Step 3: Select the Right Trading Platform

• Transition from MT4 (MetaTrader 4) to TradingView for teaching purposes, as it provides a more reputable and regulated environment.
• Use TD Ameritrade as a recommended broker for live trading due to its regulation by the Commodity Futures Trading Commission.

Step 4: Learn Price Action Analysis

• Focus on understanding how price behaves in the market.
• Study common setups that repeat over time, recognizing that they may share similarities without being identical.
• Practice identifying these setups and chart patterns.

Step 5: Trading Strategies to Implement

• Begin with trading indices, specifically E-mini S&P futures.

• Learn how to execute trades based on price action, including:

  • Setting limits and market orders.
  • Identifying entry and exit points based on price movements.

• Example setup:

  • Entry at a specific price level with a target for exiting the trade.

Step 6: Develop Personal Responsibility

• Acknowledge that trading success relies heavily on individual discipline and responsibility.
• Understand that losses and failures are part of the learning process, and it’s crucial to take ownership of your trading decisions.

Step 7: Stay Engaged and Committed

• Participate actively in assignments and drills provided throughout the mentorship.
• Engage with the community to foster a supportive learning environment.
• Be patient and dedicated to mastering the skills taught.

Conclusion

The ICT Mentorship 2022 focuses on simplifying trading concepts, enhancing your understanding of price action, and fostering a disciplined trading mindset. By following the structured approach outlined, you can transition from a novice trader to someone capable of making informed trading decisions. Look forward to engaging with the mentorship content and applying these principles to enhance your trading journey. Prepare for upcoming lessons and stay committed to your learning process!