ICT Mentorship Core Content - Month 08 - Essentials To ICT Daytrading | Summary and Q&A

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October 2, 2022
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The Inner Circle Trader
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ICT Mentorship Core Content - Month 08 - Essentials To ICT Daytrading

TL;DR

Learn the essentials of ICT day trading to capitalize on the movement within a 24-hour period and aim for 65-70% of the daily range.

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Questions & Answers

Q: How does the ICT day trading model differ from everyday trading?

The ICT day trading model focuses on capturing intraday movements within a 24-hour period, rather than trading every day. It aims to capitalize on the majority of the daily range, typically around 65-70%.

Q: What role does directional bias play in day trade setups?

Directional bias is crucial in day trading setups. Traders look for specific criteria to align themselves with institutional order flow and aim to day trade in the direction of the weekly time frame. Finding higher time frame ideas that support the day trade increases the odds of success.

Q: How can day trades limit stop losses on all trades?

Day trading allows traders to limit stop losses on all trades. By using day trade entries and the small stop losses permitted in this time frame, traders can lower their initial risk for long-term position trades or swing trades. This discipline also helps reduce risk and increase profitability.

Q: What are the ideal times and days for day trading?

The ideal times for day trading are the London session open, the New York session open, the Asian session open, and London close. However, it's important to consider the specific times of day for optimal trading opportunities within these sessions. Certain days of the week, such as Tuesday and Wednesday, tend to have higher probability setups.

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