I am trading for more than 10 years now. I came across ICT 7-8 months ago. I was hooked and went through all of 2022 mentorship in YT. I also went through his market maker model and rest materials in his YouTube channel. It didn't take me more than 2/3 days to study the ICT techniques. Here' the Pros and Cons of ICT for me:
PROS:
- ICT makes you discipline. Trust me if you didn't already know about FVG, Order Block, Inefficiency, volume imbalance, Discount, Premium. You will find ICT overwhelmingly detailed and a lot to take in and an eye opener.
- ICT is a time precise model works because There will always be Manipulators in the financial market. Big banks, institutions therefore bound to leave footprints through FVG-inefficiencies-imbalances.
CONS:
- Top-down approach can be very confusing.
- Works best on 1-minute timeframe. Mostly because I think it's a very foolish idea to trust that your decision on price prediction will be right for several hours, days or week. Best approach is to take the extremely viable phase that occurs almost every day and close the position as soon as you see a slight confusion.
- You can't use ICT as it is presented by Michale. You need to do your own fine tuning. Without your fitting fixing, you are trying others personality as in others strategy. So, you need to know yourself and your personality. Not an easy task.
Now about if Michael is a fraud, I don't think so. I believe you can't be a perfectionist when it comes to Trading Financial market. You have to accept the drawbacks and develop a system that works on an avg.
The hedge fund manager, founded by former Pentagon codebreaker and mathematician James Simons has a yearly avg growth of 66%. During 2008 housing market crash he managed 80% growth. He can predict the market like a weather system forecast weather and tells if you need to take an umbrella with you when you go out for a walk today. This didn't happen overnight. He failed to generate profit during his initial years.
Lesson, there is of course some short of patterns to take advantage of. Challenge is the vastness of data. Therefore, Simon recruited mathematician and scientist not professionals from finance background. Lesson 2, if you are using your valuable time on gauging if someone is fraud or legit, you are wasting your time. You need to focus on yourself, on your goals, on if there's anything you can take from a particular explanation and add it to your arsenal.
Joined Nov 2022
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Status: Nothing beats cake
|179 Posts
Not sure why any one would trust a convicted fraudster for one... moreover a 'trader' who claims to have a 96% win rate but is only making money from selling 'mentorships' and lastly, this ICT con artist did not create a thing, its all a rip-off of people like Steve Mauro and others.
To add some colour and light to army of Youtubers Fraudster that claim ICT works: How a Fake Guru Ruined His Life in 2 days by Livestreaming (ICT "Inner Circle Trader" Exposed)
Not sure why any one would trust a convicted fraudster for one... moreover a 'trader' who claims to have a 96% win rate but is only making money from selling 'mentorships' and lastly, this ICT con artist did not create a thing, its all a rip-off of people like Steve Mauro and others. To add some colour and light to army of Youtubers Fraudster that claim ICT works: How a Fake Guru Ruined His Life in 2 days by Livestreaming (ICT "Inner Circle Trader" Exposed) https://www.youtube.com/watch?v=qbA54WkBBs4&t=1s
Ignored
ICT is the best. You can find multiple high probability setups daily on all asset classes using his concepts. You can't learn his concepts in 2/3 days time. But once you do your eyes will open. in 2/3 days time you can't learn anything, but just what you posted here. Dude go learn ICT properly, do few months of trading, make notes on how you execute trades and then share an honest review.
