How to Execute a 30 Pip Intraday Trade Plan

TL;DR

The video outlines a 30 pip intraday trade plan using ICT's Price Action Model 11. It emphasizes preparation, opportunity discovery, trade planning, execution, and management. Traders are advised to focus on medium and high impact market events, and to use a 60-minute chart for identifying optimal trade entries, while managing risk and profits effectively.

Transcript

welcome back folks this is price action model number 11 30 Pips intraday trade model day trading model trade plan that's a bit of a tongue twister almost wasn't it all right I price action model number 11 30 Pips intraday trade plan day trading model now before we get into it model number 11 and model number 12 are are considered by my definition a... Read More

Key Insights

• Model 11 is designed for frequent setups with a higher strike rate.
• Preparation involves noting medium and high impact market events.
• The dealing range is determined by the highest high and lowest low of the last 20 trading days.
• Opportunity discovery focuses on identifying 30 pip ranges on a 60-minute chart.
• Trade planning requires aligning with economic calendar events for volatility injections.
• Trade execution involves using 15 or 5-minute charts for optimal entries during key market sessions.
• Risk management includes a 20 pip stop-loss, adjusted as trades move in profit.
• Profit-taking involves capturing 30 pips per trade, with partial exits at strategic price levels.

Questions & Answers

Q: How to determine the dealing range for Model 11?

The dealing range for Model 11 is determined by noting the highest high and the lowest low in the past 20 trading days. This range helps in identifying the current market structure and potential draw on liquidity, which are crucial for planning trades and aligning them with the weekly range bias.

Q: What is the significance of 30 pip ranges in this model?

30 pip ranges are significant as they represent the expected price movement that traders aim to capture. By focusing on these ranges, traders can plan entries and exits that align with institutional order flow, using a 60-minute chart to identify potential expansions that provide favorable entry and exit points.

Q: When should traders execute trades in Model 11?

Trades should be executed when the market is poised for a move, aligning with economic calendar events that suggest a volatility injection. Traders should use 15 or 5-minute charts for precise entries during the London or New York open kill zones, focusing on either premium or discount optimal trade entry setups.

Q: What is the trade management strategy for short positions?

For short positions, traders should place a sell limit order to take a 30 pip objective on a single position. If the objective is met, the order should be closed via a buy limit order, and traders should wait for another opportunity. Stop-loss management involves an initial 20 pip risk, adjusted as the trade moves in profit.

Q: How should traders manage risk with this trading model?

Risk management involves an initial 20 pip stop-loss, which can be reduced as the trade moves in profit. Traders should calculate position size based on account equity and risk percentage, ensuring that leverage is appropriately managed. The model advises reducing risk after a series of losses and leveling equity after consecutive wins.

Q: What factors contribute to determining weekly range expansion?

Weekly range expansion is determined by analyzing medium and high impact market events, current market structure, and calendar events. Traders should anticipate whether the weekly range will expand bullishly or bearishly, using this bias as a filter to guide trade direction and identify setups that align with expected market movements.

Q: How does the model adapt to different markets?

The model is adaptable across various markets, including futures, commodities, bonds, and forex. It relies on identifying liquidity runs and exploiting volatility injections, making it suitable for any market where these conditions are present. Traders can use the model to find profitable setups by focusing on key price levels and market sessions.

Q: Why is it important to take partial profits in this model?

Taking partial profits is important as it ensures that traders lock in gains at strategic price levels, reducing the risk of losing profits if the market reverses. By capturing profits at increments above key price levels, traders can maintain a positive equity curve and reduce the emotional impact of market fluctuations on their trading decisions.

Summary & Key Takeaways

• Price Action Model 11 focuses on a 30 pip intraday trading plan, stressing the importance of preparation and opportunity discovery. Traders should identify high and low impact events, and use a 60-minute chart to find optimal trade entries. Effective risk management and profit-taking strategies are crucial for success.

• The model involves five stages: preparation, opportunity discovery, trade planning, execution, and management. Traders should focus on the last 20 trading days to determine the dealing range and align trades with economic calendar events for volatility injections.

• Risk management is emphasized with a 20 pip stop-loss, adjusted as trades progress. Profit-taking targets 30 pips per trade, with partial exits at key price levels to ensure consistent profitability. The model is adaptable across various markets, including futures, commodities, and forex.