ICT FOR DUMMIES | Time EP. 6 transcript

welcome to ICT for dummies episode yeah um anyways guys oh yeah oh we're flexing [ __ ] time this is going to be a pretty simple session this is foundational knowledge that you should 100% know and it's going to help you with trading a lot today we're going to be going over the five most significant sessions Blake okay so what I have here is kill zones so what kill zones are are going to be the best times to be trading in the market since we are trading the NASDAQ we we are trading Nasdaq futures and we also trading es in the S&P 500 futures this is all going to be in Eastern Standard time now for Forex kill zones are different so please note that if you're going to be trading Forex there are different times but since we are just trading es Futures and NQ Futures these are the times that we want to be paying attention to now we have five different sessions here all are very important we have Asia session which starts at 8:00 p.m.

Eastern to 12:00 a.m. we then have London session and Asia session does tend to be a lot less volatile and choppier because not a lot of new York Traders are trading during this time same thing goes for London session you're going to get a little bit more volatility from 2:00 a.m. to 5:00 a.m. and then New York am. session is going to be when the market has the most volatility and it's also going to have the cleanest price action because this is when the New York Traders are trading dur during this time now 8:30 a.m. is going to be when news is released so 8:30 is also still technically pre-market and 9:30 a.m. is actually when the Stock Market opens so when the New York Stock Exchange opens is at 9:30 a.m. that is that opening Bell and that is going to be when a lot a lot of volatility kicks in but 8:30 a.m. still is part of the Kill Zone time you also have New York lunch hour and New York PM session New York lunch hour obviously is not going to have a lot of volatility there's not going to be a lot of people trading during this time and just like the name and Tails like people are typically on lunch breaks there's not a lot of Traders during this time directly correlating to the fact that there's not going to be a lot of volatility or volume then you have New York PM session this typically does have a bit more volatility in volume but not as significant as New York am session for the most part on some days New York PM session might have more volatility than New York a session but most days New York am session is going to be your best bet at finding just the best opportunities in the market since the most amount of Traders are going to be trading during New York a session this is going to have the most consistent price action and it's going to generate the most consistent results with our strategy and with ICT Concepts in general yeah guys for beginner Traders I highly highly suggest just focusing on New York am session you should not be Trad during AIA session London session lunch hour now these times are significant because they are going to be really high probable liquidity pools which we get into later so still knowing these times is very very important and despite the five prominent sessions we have marked out in front of us I can't emphasize it enough focus on mastering one that is the most effective way to becoming profitable that is the most effective way of mastering a strategy because the thing is people are heavily mistaken a lot of beginner Traders often think that they need to trade every single session but that will negatively affect your results please please take my word for this and other Traders will tell you the same thing Master one session that is how you will understand your strategy best that is how you will master your strategy best that is how you will consistently see the best results in the market some of you may have some sort of inconvenience that is just overlapping with New York am session whether it is work school or whatever it may be and therefore you can't trade New York am session and maybe your only option is London session or New York PM session uh that's fine just know that obvious New York game session is going to be the best in general but if your only option is for example London session just make sure you're mastering London session and not going and not experimenting with every other session cuz it's going to screw you over like Patrick was saying more trading does not equal more money getting made in the market I always see beginner Traders also like asking us like why don't you trade like every second of the day does that mean you can just like make the most amount of money no by focusing on only one session not only are you going to be getting the cleanest trades the cleanest price action the best volatility you're also going to build yourself a lot of discipline by only taking you know one or two trades and then closing your charts for the day because in reality that's what the best Traders do they take one two trades a day and they are done you guys do not need to be trading every single session you not be need to be looking at every single session also screen time in general does not equate to looking at the charts all the time that doesn't equate to Good hours for screen time yeah you need to understand that it gets to a point where you start seeing diminishing returns um with your your screen time right if you're just spending your entire day looking at every single session you know you trade New York game session you take a couple trades and you look at New York lunch hour and then you look at New York PM session like you're not really learning as much as you think despite the fact that it may feel like you're learning by looking at all these different sessions the reality is that it is not as effective as you may think like you don't want to be a slave to the charts you don't want to spend your entire day looking at them and if you want to just practice mastering a session then you can go ahead and back test go over 30 days of New York am session price action stuff like that is what actually helps you improve just some general knowledge is that since Asia session and London session are typically far less volatile than am session that is because it is typically saving most of volatility for New York am session however there are times where you will see Asia session dump or pump hundreds of points and when you see this it's typically sign not to trade am session right these overnight moves that are extremely large usually will generate bad price action for am session this doesn't happen too often but you should be able to identify when it does and it should be an easy sign for you to tell yourself okay I probably shouldn't trade today because we had a huge overnight move and this pretty much goes for every single session for example let's say New York am session is super super clean right like we get a really large move taking out some prominent buy side or sell-side liquidity well then you can expect that New York lunch hour to then be a lot choppier and a lot slower now we're going to go over some examples of how sessions move and how it may impact a different session okay guys guys so I use this indicator called ICT kill zones and pivots you can go up here you click indicators and I do not use a lot of indicators this one is super useful it's by trade for op and it basically marks out every single session as you can see here marks out Agia session from 8:00 to 12:00 a.m. then marks out London session from 2:00 a.m. to 5:00 a.m. and then New York a.m. from 8:30 to 11: now you guys can pause the video screenshot if you want these exact indicator settings also the reason you're seeing that in the indicator settings 8:30 is not included in New York game session is just because because we don't typically trade pre-market um so we just started at 9:30 but if you want to include pre-market you absolutely can we just like to start off the New York am. when the New York Stock Exchange actually opens so as you guys can see here when is price action the most volatile when do we get the best movement well it's obviously going to be during New York a.m. session right and that's going to be from 9:30 a.m. to 11:00 a.m. and then after that we typically have a lot choppier a lot slower price action and it's not the best as you can see you have also Asia session and London session the market it sure is moving but is not nearly as significant as what you're seeing in New York am session now since these are kill zones times we still will have pretty significant moves for example we did go for around 200 points in the overnight session but the moves just aren't going to be as clean and they're not going to happen as fast like when you're trading New York amp session your take profits are most likely going to hit a lot faster versus when you're trading London session you're going to have to wait a lot longer uh and here we have one final example just for good measure as you can see on the left you have Asia session right the range is not really that big London session once again also just not that big and then as soon as you get that New York am session at 8:30 we also have newo here so you can see that extremely volatile candle we're going to show you how to identify news real quick but then you can see new y ex session opens up and we have a lot of volatility getting pumped into the markets that's at 930 candle and yeah it's a lot of movement that's a lot of [ __ ] movement if you're new to trading you're probably wondering what was that candle and like Patrick is saying it's a news candle so we're going to get into news and how to know when this news is going to be released okay so this website is called forexfactory.com so forexfactory is going to tell you when news is released you're going to want to go over to the top right of this bar right here this is your filters so pretty much the only two folders that you want to be focusing on is red folder and orange folder News yellow folder does not really do anything orange folder also really does not do anything but there's times when orange folder could so it's always good to be just aware of that and the currency you just want to click USD if you're just training indices and if you're trading Forex then well you want to be clicking all of these but since we're just trading indices just focus on USD and then event types you select all I want to change this for them cuz oh you're right Chihuahua time what the [ __ ] is that what the [ __ ] is Chihuahua time okay so this is all of the news for this week of February as you can see we have news today at 10:00 a.m. so Powell is going to be speaking you do not want to be trading when news is released okay I would give yourself like a 5 minute time frame window for from when news is released I would wait about 5 minutes um after news is released before you start executing trades just because even though that news candle may be at 8:30 or maybe at 10:00 a.m. right those couple minutes right after that news candle are also going to be super super volatile what and before it's going to be really really choppy like Blake said so usually like the five minutes before news gets released are going to be like super choppy and price will just Wick around everywhere news gets released huge freaking candle pumps into the market you you typically don't know which direction it's going to go so avoid being in a trade before that and then of course a couple minutes after news you're still going to be there's still going to be a lot of volatility in the market just kind of finishing off that news candle so wait about 5 10ish minutes before you execute this will just help you avoid getting chopped out of a trade so really the main news events that you guys want to be focusing on is CPI so CPI and PPI it's typically on a Wednesday or Thursday or Thursday or Friday this is happens once a month and it always happens at 8:30 a.m. eastern you again you do not want to be trading during this time you want to be trading after that news is released and I want you guys to know also that it is okay to be trading on days when there is red folder News it's actually going to be a lot better and a lot more volatility in the market a lot cleaner price action when news is released because a lot of Traders are going to be trading there's going to be more volume now for these days you might want to be sizing down because the candles are going to be a lot bigger versus you know Days Like Mondays where we typically don't have any news the candles are going to be a lot smaller so you're going to be able to put on more lot size put on more risk also note that one of these super volatile news days is going to be NFP non-farm employment change and that's going to release on the first Friday of every month I this is considerably like one of the most volatile days so definitely make sure you're risking down on a day like NFP and also know that before a day like NFP price action typically won't be as good think back about how we were talking about with sessions when we were saying a lot of the volatility saved for New York am session and therefore Asian London won't be as volatile think about that sort of with news right if you have NFP releasing on Friday Thursday typically won't have a lot of volatility in the market because most Traders are waiting for NFP to be released before going about the markets and once again to reiterate how what Blake was saying before your two most significant things to look at are just red and orange folder News orange folder typically doesn't do much but it is still really important to be worried about it because uh sometimes it can generate like a 100 Point candle um so just definitely something to pay attention to we also said make sure your currency is on USD right uh you can see that in the currency spot right there since you are trading the NQ Andes which is the NASDAQ futures and S&P 500 futures you really only care about USD fomc you also want to be paying attention to so fomc happens from 2:30 to 2:30 p.m. how will come on stage and there will be a statement and there will also be come on stage like that's just mad weird he will he will come on stage I got so many H texting that's crazy so po will speak and then there will be a statement and then there will be a press conference going over basically what he just said and that is again from 2: to 2:30 p.m. so typically on fomc the New York am session will be not very good price action so you typically don't want to be trading really at all on fomc it's going to be pretty hard I do not suggest trading fomc days for beginners at all and just avoiding that day in general but on these days it is actually okay to be trading like up until 400 p.m. because there's going to be a lot of volatility in the market and again am session won't be that clean PM session will be clean now going back to our liquidity video we will have a lot of liquidity but it just won't get taken during am session and that's basically just bad price action right because for example here like we were saying if there's going to be the News That's released and this day was NFP as you can see we just left a lot of liquidity we weren't taking it we were just leaving these swing highs leaving these swing lows until finally news is released and then it just takes out all that liquidity new released you know how to speak English I didn't say it like that like news is released so guys just remember the most important ref holders to look out for is going to be CPI PPI fomc NFP anytime Powell speaks and that's pretty much it I mean those are definitely the most significant ones but any red folder you know just avoid being in a trade before then uh and just give it a bit of time after releasees a trade but yeah thank you guys so much for watching ICT for dummies episode 6 um and yeah if there's one thing you're going to take away from this is that your job should be to master one session screen time does not mean trading every single [ __ ] session on the planet yeah make sure to like subscribe comment let me know what country you're in drop that in the comments let us know and um yeah Boys Follow the socials much love peace out boys