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Summary
Core Theme
This content introduces the ICT Scout Sniper enlisting module, a comprehensive, hands-on approach to understanding and applying price action concepts in trading, emphasizing practical application through specific drills and a structured learning process.
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[Music]
alright folks we are looking at the
scout sniper enlisting module for the
ICT scout sniper field guide ok what are
we going to covering in this
presentation well obviously it's
designed for those individuals that are
not familiar with my concepts it's going
to be a broad range comprehensive
approach to using the concepts that are
hands-on in the trenches type of
application for years I've been on the
internet teaching conceptually the
things that I do and the apps the actual
employment or step-by-step approach to
utilizing the concepts has evaded most
individuals because simply they didn't
put in the work and the exercises that
were meant by taking the concepts and
implementing them modularly
through teaching videos and what do I
mean by that well for those participants
to have been following my work on
YouTube my own website I had a blog
years ago and some threads that I put on
some unknown forums
they failed to utilize the concepts in a
demo account and use the concepts on a
daily basis to familiarize themselves
with price action concepts that are
rather generic and each video if used
properly in the library that I've
presented over the last few years they
were meant really to focus your
attention on one specific component to
understanding price action and the
application of the ICT tools what we're
gonna have in this eight part series in
this episode once there's gonna be a
whole lot of dry stuff in the beginning
this so prepare yourself for it guys
it's like anything else there you go if
you go to you know sniper school you're
gonna learn a lot of theory first you
learn a lot of you know trajectory you
wind all those things that are gonna
affect you taking a shot before you ever
put yourself in front of a you know a
rifle and scope up your target you got
to learn a lot of the boring stuff okay
but I promise we're gonna get to that
good stuff that you're all looking
forward charts and get me and get me an
types of situations that it's all gonna
be in this course but again you got to
go through the boring stuff first guys
so we're going to what are we gonna be
covering let's look at that now
obviously you know we're gonna be
looking at briefly I'm gonna be
introducing you what trading platform
that I use in my teachings and then the
practice drills it's going to be
employing in this course
and I'm going to give you a general
overview of the type called unquote of
trades this approach specializes in and
what you should adopt as realistic expectations
and we're to introduce you to the mo and
usual targets and I'll give you an
assignment for homework and it's going
I will trading platform are we going to
be utilizing in these teachings and what
do I use for my own analysis in my
videos that you see on YouTube and on
the unit circle trader.com website well
I use for XCOM Ltd now it's very simple
you guys can go to Google and Google
that just as you see it here on the
screen and it will give you a
opportunity to download the mt4 that's a
letter M is in Michael T isn't Tom for Metatrader
Metatrader
platform it'll be it's a free download
now before we get into all the debates
as to what platforms useful and you know
which ones better blah blah blah I'm not
gonna argue which ones better
okay I'm more or less gathering everyone
to one pool it's up to you whether you
want to drink from it or not okay so a
lot of the tools that I shared that are
for free I don't sell anything I also
advise I don't give signals or anything
I got I give resources tools and
concepts for you to employ and use in a
demo account setting I do not advocate
you using live funds so everything you
learn here is just for your development
on a personal scale I'm just gonna hint
in point in direction and it's up to you
to walk there and find it on your own
okay so now with forex.com ltd again
it's simply for the utilization of their
demo account i do not trade live funds
through forex.com ltd okay i simply use
it for a demo account only and because
it's a free resource it allows me to
share a universal medium that everyone
can employ you can trade through your
own individual platform if you choose to
but for the the concepts that we're
gonna be covering in here the tools that
I'm gonna be sharing and the indicators
that you will be using or plug in play
with mt4 okay so just so you know that
you you're not locked into using this
but there's gonna be some tools that are
rather unique to the mt4 platform and
it's just a plug and play type scenario
now I do not recommend you trade flight
trade live funds with Forex comm Ltd
okay because I'm not an introducing
broker I'm not acting as an introducing
broker and I'm not a trade advisor and I
have no affiliation with Forex comm Ltd
I have no affiliation really with any
brokerage firm whatsoever so please
don't ask me which one I recommend if
you choose to trade live funds
don't do that it's up to you there's
plenty of brokers out there that you can
choose from I advise the viewer to use a
demo account for practice purposes ok so
again I can't stress it enough forex.com
Ltd is simply being utilized in my
capacity as a mentor in the demo account
setting only and ideally you want to use
it demo account balance when you open up
your demo account with forex.com Ltd or
if you choose to do something else
outside of the tools that I shared for
platform and purposes it choose a
account balance that you would be
actually you realistically employing if
all right what trades are classified as
sniper setups
well precision point entry prices that
are applicable for use of limit order
entry now if you're not accustomed to
what a the limit order is we're going to
cover that in later modules and we're
going to actually give you live examples
of when you would utilize that in your
demo account and how that works in favor
of getting you the best possible entry
price and limiting your your risk in
terms of your stop-loss it's very useful
in terms of controlling your overall
risk and exposure to the market but it
doesn't completely eliminate the risk it
just helps you determine is precise as
you possibly be in terms of your actual
entry price versus what you may get if
you did a market order and the slippage
utilization of specific time of day
criteria so we're gonna be talking about
specific times of the day that the forex
market sets up rather routinely in terms
of specific price swings and how we can
utilize that so by coupling precision
point entry prices and utilizing time of
day that between those two right there
that really classifies it as a sniper
setup because we know exactly what we're
looking for in advance and we wait for
that to unfold now we also will have an
advanced knowledge of target prices for
positive exit points in other words we
anticipate where price may be reaching
to and based on that understanding what
specific price levels we may be looking
to exit at in our demo trades and the
employment of strict risk management
protocols in other words how much money
are we risking and how we quickly
removing the risk and controlling the
and calm and focused disciplinary
trading without emotions and impatience
that last one right there is a doozy
it's very very difficult for majority of
traders out there to obtain this level
of trading but I can assure you it comes
with time and it comes with a strict
adherence to the process of trading and
that means finding what niche you're
best suited for as a trader and it may
be a specific time frame like you know
you may be a good short term intraday
scalper you could be a you know a swing
trader it could be a short term trader
you know in and out in a day or two or
you could be a position trader okay
we'll give you some tools and concepts
to help discern what that is for you on
all right what realistic expectations
should you hold
well let's first start off with the
realistic as you can get you will lose
money live and/or demo money with these
concepts I cannot guarantee 100% trading
no one can no one ever will and just
don't expect it you will not profit on
every setup as much as the setup may
look like textbook conditions you're
gonna still lose eventually on what may
be the best-looking cherry setup you can
possibly have and you still will see it
fail okay because there's nothing
perfect and in trading and you just
can't obtain that level of trading
obviously and you're obviously gonna
miss opportunities so you may sleep
during a particular time of day or you
may be taken away you know by either
attention or physically away from the
charts and so you can't take an
opportunity maybe you were stalking
expecting it to set up and you
unfortunately missed it you're gonna
have to expect that in all levels of
your trading I mean I have been trading
for almost twenty years and there's a
lot of setups that I see coming but I
just I miss it by a number of things and
it's no reason for me to beat myself up
over it I just know that that trade
wasn't mine the next one's gonna come
around it's just like buses they'll come
by if you wait around long enough you'll
see the next one come
I promise no wealth or easy journey to
riches now this is gonna require you
work okay I'm gonna give you some
specific criteria if you stick to it I
promise you your understanding of the
market will greatly increase and you'll
be lightyears ahead of everyone else
now theoretically the concepts will lead
to a better understanding of trading for
you every individual trader or
developing trader that are watching this
video series will not have identical
results okay so if you guys talk in chat
rooms or if you share forms do not
compare notes in such a way where okay
how much money did you make on that
demet rate versus what I made it's
completely unique and that's one of the
beauty of trading because you don't have
to limit yourself to what everyone else
is doing just simply because the tools
I'm sharing right now are being
universally shared you may develop
another level of understanding on a
personal level with these tools and
you'll make them your own
and by subtly blending what you're
comfortable with as a trader someone
that may be a 30-minute chart trader it
will make significantly far less than
someone that is utilizing a 4-hour chart
in the setups that setup on that time
frame are going to be much larger in
terms of magnitude so it's very
difficult for one to reasonably
realistically expect your results to met
everyone else doing it okay so think
about it there's so many other guys and
mentors and teachers out there and
authors of books why aren't we all
having the same results because it's a
unique experience okay and that's what
makes this so difficult because it's not
a team effort it's not a team sport and
you're not gonna win by everybody else
doing you know doing it with you okay
now that we can cultivate a learning
environment like we're doing here and in
forums and such but actually getting in
the trenches clicking the mouse and
getting into trades and and and
suffering the drawdown and/or the riches
that come with profitable execution
that's all on a personal
and no one can share that it's
completely and uniquely yours
and you have to more or less accept that
okay so going into this understand that
you're leading yourself to a better
understanding of trading but you're
always going to be theoretically a
and always focus on success being
measured in small incremental steps and
you're going to have to really submit
the time because while these concepts
we're gonna be really really
concentrated in later portions of this
series it doesn't take away the work
portion and the time that's needed for
you to warm up to the concepts simply
seeing in one or two examples in the
video format is not going to be enough
you're gonna have to be in the charts
hunting looking at it up studying it in
hindsight and anticipating it in the
future so you got to submit the time now
realistically what am I talking about in
terms of time if you're not willing to
put six months into these concepts turn
it off now you're wasting your time and
you're really you're doing me no service
at all because I'm putting a lot of
effort into this so you should be doing
the same thing invest the time is needed
all right what ammo will you use and
what targets
well the methodology that were sharing
here is based on a principle I learned
in 1994 yes I was trading way back then
now the principle is triple screen and
it's found in a book titled trading for
a livin now this was one of those little
gems that I was in Columbia Maryland and
I reside in in Baltimore Maryland it's
in the United States in case you were
wondering where that's at
and we had a traders library it was a
store that really was mainly mail-order
over the internet type deal but it just
happened to be in Maryland so I was
fortunate to be able to drive there and
go through their bookshelves and find
some you know really interesting books
but because I was a fledgling technical
analyst and I didn't have a whole lot of
money to start with I was I was very
shocked to see how much these books were
being sold as and trading for a living
that title was exactly what I was
looking for and think about it if you
want to be getting into this industry as
a trader you know with no understanding
whatsoever except for the desire to want
to make money and to sit home doing it
that you couldn't find a better title
book than that in trading further and
that's exactly it personifies what
traders do this for you know they want
to sustain themselves with just this as
their means of income so
I purchased the book and I'll be honest
when I first read I was like man this is
ridiculous I can I can't I can't get
anything out of this
so I basically wasted like $40 and at
the time I thought that and later on
when I got a little bit more mature in
terms of what I was expecting out of
price charts and such
I found that latter chapters in his book
I think if my memory serves me its page
2 you want an 85 or there abouts it's
his concept of utilizing multiple time
frames and I framed the concepts on
Alexander elder which is the author of
trading for a living so ideas and maybe
made subtle changes really but if you
really study these concepts you're gonna
find the fingerprint of elder all
through this okay and if one could claim
authors of books as mentors you know
obviously he was my my first one if you will
will
majority of my other work comes from
Larry Williams
now the premise is really to determine
the likely direction of the market and
then enter in that direction only now in
case you're wondering if it was just
that one chapter that was useful I'm
gonna recommend to you now that read the
entire book because it was my first
trading text but it was my first aah ha
manual because there's so many gems
tucked inside the texts it's it's it's
really rich just the first few chapters
dealing with psychology you know being a
young guy and just impatient and I have
OCD and I have attention deficit
disorder and I have a very difficult
time focusing and a lot of that stuff
because I grew up in an environment that
when you read this you'll understand I
had a lot of similarities and the type
of people that elder was describing as
problematic people in terms of trading
and how they have to overcome
adversities psychologically and how more
or less it's a loser's mentality that
they have and what you're gonna have to
do to get beyond that and I think it's
an excellent read so don't just take the
chapter on triple screen as the only
real nugget in that book it's it's it's
chock-full of all kinds of wonderful you
know insights but really the crowning
jewel is the triple screen chapter and
then obviously all of the psychological
write up that he does earlier in the book
okay we are going to give a homework
assignment okay and it's going to be the
mark now every sniper knows there is a
target out there that he has to acquire
scope up and in takedown no we're not
going into a large list of technical
things but I'm going to give you an
assignment for you to study now I'm not
going to limit you to any particular
pair you can use this assignment on any
currency pair you want but in this
example I'm going to share with you and
we're going to be utilizing the fiber
which is the eur/usd pair okay hello
folks we are now looking at the mt4
platform and we're gonna open up a chart
I'm gonna use the eur/usd pair and we're
gonna double tap the header of the chart
and it'll maximize it
and we're gonna change it to a
candlestick chart and we remove the grid
by hitting our right mouse button go
down the grid where you can hold down
the control button hit G and a remove
your grid in the background and we're
gonna set this to a more friendly to the
eye color scheme and I right clicked on
the mouse button and it gives me this
menu where I put the properties in and
our in this little toggle box I'm gonna
click on black on white that sets the
chart to this our viewing setting and I
hit the shift key here which sends the
chart back away from the right edge now
I like to have a little bit of open
space over here the amount of open space
that you may or may not want is up to
you but you can slide that little
triangle here by clicking on it with
your left mouse button and then just
moving it along where you want it
wherever you drop it that's where the
chart will end okay so now what we're
going to talk about here is I'm going to
show you a 15 minute chart and I'm gonna
ask you to look at this chart okay and I
want you to study it and tell me what
you see
after a period of time now I'm not
send it obviously you and me might like
that I want you to send it to the thread
at FX dears comms forum thread and it's
the thread that's soft titled with this
video series very easy to find what
we're looking at here is a specific
price model that we're going to cover a
great detail during this eight part
video series and I promise when you're
done studying this you're going to have
far greater understanding and price
action than any other resource available
on the internet or on book you're
talking about something that is so
generic it's going to be always seen in
the marketplace and on any timeframe
okay but for real world purposes okay
for you to study I want you to use this
example here okay and start with August
2013 and right now at the time of this recording
recording
August 14th okay and what I'm looking
for is in terms of a repeating theme of
what price is doing and how it could be
anticipated going in the future and I
criteria that you see repeating in the
way price is moving from one swing point
to the next okay and what is a swing
point swing points are like this here
just low with higher lows when you
decide of it here's a low with higher
lows on either side of it every turning
point here okay these are all swing
points now if you don't understand what
a swing point is and you're if it's
going a little too fast for you the
easiest way for you to learn to see what
the swing part swing points are rather
on mt4 if you go up to their little
insert tab click on that go to
indicators and go over to Bill Williams
section in the top of the list it'll say
fractals okay if you click on that it'll
give you a little box here now I'm going
to keep it red and if you use this over
here this will tell you how big you want
these fractal arrows errors to appear on
your chart now I'm going to use this
setting here and I'm gonna click OK and
what that's done is it creates all these
little arrowheads okay the arrowhead
just delineate a point at which when one
candle is surrounded by two higher load
candles for our swing low in this case
it would be here and for a swing high it
would be a candle that has two lower
highs on either side of it now I'll zoom
in a moment to give you a better view of
what that looks like for now
you're not gonna utilize every single
one of these obviously okay but what I
want you to do is I want you to train
your eye okay and zoom in just for a
little bit you can't I'll give you an
example of what this is delineating here
the fractal arrow to take the toggle off
so it doesn't move around as I'm talking
we'll use this one here this fractal hi
has a lower candle to the left of it and
to the left of that it's a lower candle
okay and you know what's this candle
here has a lower hide candle and a lower
high candle
so both these candles on the right have
highs that's the lower than the high of
this candle and these candles here on
the left of it have lower highs in this
candle high so then the mt4 platform
will mark this as a fractal high okay
now as we all learn in later video
modules in this series I do not require
waiting until two candles after the
highest form okay it's many times you'll
see that you'll miss the optimal entry
point in terms of taking the trade okay
and vice versa and looking at the low
here if you see a low with two higher
load candles on the left of it and two
higher load candles on the right of it
that would be a marker for a fractal low
or swing low now look at this chart for
a second before we take the fractal
and now we're just gonna take this
indicator off and now I want you to look
at the chart again can you see those the
same reference points without having
that tool applied to the chart because
that's what you're gonna have to learn
to do okay because you need to see these
forming in real time and right now I'll
give you an example we have one forming here
here
this is a live price chart it's not
recorded I'm not dubbing over something
in the hindsight this is really
happening right now and we have a low
with a higher low here and a higher low
here that in itself is a swing low so
this could be a short-term load that may
see price move higher from now we can't
just base that simply on that alone
there's got to be other things another
criteria to add to it but that's what
you'd be looking for as a potential
turning point if you look at every
turning point or swing in the
marketplace you can see that that
pattern exists it's very generic it's
there all the time you have a high with
two lower highs surrounding okay
every high and low swinging up down up
down that natural ebb and flow in the
marketplace is seen with this
characteristic and price action now
and we're gonna go and look at another
sample size of price action and we're
gonna look at the beginning of July
we're gonna look at the first week of July
yeah this is good right here
okay and I want you to study this sample
size India as well okay so we're looking
at July first to say July 9th okay and
let's hold down the control key on your
mouse I mean I'm sorry on your keyboard
and hit the letter Y as in the word yes
and that'll give you your vertical
delineating bars okay and what this is
doing is the double lines is a Sunday
this Mondays trading this is Tuesdays
trading in between the two vertical lines
lines
here's Wednesday's Thursday and Friday's
trading and then we start a new week on
Sunday I want you to study June 1st to
June 5th okay in other words this whole
this right here okay so when you have
your platform downloaded and set up
at the default settings on to change
anything yet we're going to talk about
all those changes and then all the
little cool indicators along the way as
we go through each video I promise you
this is gonna be the most boring one but
if you put the work in now well I'm
asking you look for here my promise when
you look at the last video in this
series these two sample sizes of price
data it's going to be amazing okay and
you're gonna be floored by what you'll
understand by that point okay so now
looking at this sample size and data
okay the questions I want you to focus
on in terms of study is I want you to
look at every swing point in this sample
size I also want you to look at the time
of day that those turning points occurred
occurred
and I want you to look at the direction
of which made the most in terms of pips
obviously you can see it's been in a
Down move but what characteristics were
synonymous with just about every single
one of these turning points and I've
promised if you study it not just simply
on one-hour chart but break it down into
a 15 minute chart basis and if you look
at a 5 minute basis that'll also be more
insightful to you as well don't be
discouraged when we go to part 2 and I
show you some things that you should
glean from the price action with no
understanding whatsoever about technical
analysis you should still understand
time and price ok know there's what time
of day did these particular swings take
place and empty for is generally setup
is a GMT platform so there's all the
time at the bottom of your chart here it
is this is all GMT time ok and I want
you to take notes write it down in a
book ok and get yourself a little
notepad okay and this is your your
workbook for this whole video series
you're gonna have pages of notes by the
time we're done I promise you and the
notes that you collect along the way are
gonna be worth their weight in gold ok
because this is insight so you just
don't get anywhere else and it's nearly
two decades worth of insights that's
coming to you for free ok so I want you
to appreciate that because it takes a
lot for me to you know number one put
these together in terms of a teaching
and also be able to have a sense of
continuity and hopefully get you to an
end result that was in mine from the
beginning which is a greater understand
price action and you as a trader in how
to utilize that insight gleaned in your
own demo trading and development as a trader
trader
so now again key points are what time of
day every turning point in this sample
what price levels did they occur at okay
and it means you need to be marking up
your chart drawing lines okay and make
scribble it up okay I mean don't be
afraid to put notations on your charts I
know why guys you know in the beginning
trying to learn they try to keep the
charts clean when you understand what
you're looking for then it's advisable
I'd like to keep my charts very clean
but in the beginning be messy okay it
make it fun get in there and draw some
notes on this stuff and in fact if you
go to say you have this chart like you
have it here okay go up to file okay and
you want to save as picture and you just
click active workspace and I'll show you
what happens when you do that
by doing that empty four will generate a
image file of the your actual workspace
and by doing that you'll be able to have
a image file that will be in your web
browser and let's move over to that now
okay you can see it created an image
file okay and it's exactly what your
chart showed an empty for platform now a
zoom a live as you can see but it gives
you all the detail and data here and you
scroll up you can see everything here
now it's to me I would advise you to
take this image and print it out print
it out and draw your lines on it with
your own hand with your pencil ruler do
it like that okay and get used to
marking up the charts putting lines in
and support resistance levels and make
notations a time and price and then I
promise you if you do this every single
day for one pair and it doesn't have to
be the fiber eur/usd pair it could be
either capable bridge around USD it
could be the Japanese yen it could be
the Kiwi it could be the Australian
you're again British pound yen any any
of any pair of your choosing it's not
important as to which one you're
choosing but get real close to price
action by studying one pair it could be
the dollar index as well but what's
you're gonna be doing is you're gonna be
building at least 30 days worth of
sample size data okay you want a whole
month's worth okay that means you're
gonna have to explain actually spend a
little bit more than an actual one
calendar month okay because you don't
have 30 trading days in a month okay so
now what you're gonna be doing is you're
going to be collecting at least 30
sample size of actual trading days 30
trading days and I want you to do that
with a five-minute chart and I want you
to do that with a 15 minute chart for
every single day going forward for
whatever particular pair you'd like to
trade and I want you to mark off every
single time the market turns intraday it
makes the higher low of the day I want
you to make a reference of what time it
does it and what time it ends the
opposite end of the range in other words
what time did it make the high of the
day and what time they make the low of
the day and you need to do this for 30
days and I promise you by the time again
we get that exercise you're gonna have
immense not understanding of price
action and what routinely happens in the
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