Episode 1

Page Title

ICT Mentorship 2022 Introduction

Source URL

https://www.youtube.com/watch?v=kt6V4ai60fI&list=PLVgHx4Z63paYiFGQ56PjTF1PGePL3r69s

Summary

- 00:20 Preparation for upcoming event in two days.

- 00:25 Important information on the YouTube channel.

- 00:27 Emphasis on understanding for future sessions.

- 00:34 The speaker is known as the 'demo baller' and prefers using a demo account for safety.

- 00:43 Students have questioned if the approach works in live accounts due to their own struggles.

- 00:55 Some students struggle due to a lack of commitment or rushing through instructions.

- 01:11 The speaker provides mentoring but acknowledges a small faction of challenges.

- 01:19 Teaching and testing methods challenged on live accounts.

- 02:02 Focus on consistency over perfection and accuracy.

- 02:07 Mentoring approach tailored for aspiring traders.

- 02:31 Acknowledgment of diverse trading experiences.

- 02:38 Simplified teaching approach for accessibility.

- 02:56 Emphasis on simplicity over complex theories.

- 03:12 Introduction of a straightforward trading model.

- 03:25 Preference for practical analysis concepts.

- 03:31 The mentorship focuses on teaching personal trading skills.

- 03:43 Students often struggle with information overload, leading to analysis paralysis.

- 03:59 Discipline and personal responsibility are emphasized for success.

- 04:26 Proper training and caution are highlighted to avoid potential harm.

- 04:31 The mentor will teach a simplified version of trading concepts.

- 04:43 The focus is on learning a specific trading model.

- 05:06 The speaker started trading in 1992 as a commodity and futures trader.

- 05:19 Transitioned from trading in various markets to focusing on the bond market.

- 05:30 Shifted to intraday trading and moved away from long-term position trading.

- 05:49 Discovered that position trading did not work well for the speaker.

- 05:54 Prefers short-term and intraday trading for making quick decisions.

- 06:04 Will teach how to apply trading concepts on a YouTube channel.

- 06:10 Encourages applying the information to any time frame for better understanding.

- 06:15 Promises to provide a learning experience to the audience.

- 06:39 The mentor aims to enhance understanding of price action and bias analysis.

- 06:47 Identifying repeating setups with common characteristics is emphasized.

- 06:59 Recognizing familiar setups and building trust in them is crucial.

- 07:08 Participants are eager to learn and progress through the mentorship stages.

- 07:14 The mentorship program consists of three stages for aspiring traders.

- 07:24 Completion rates for the mentorship program may be impacted by challenges.

- 07:28 In the mentorship, the instructor emphasizes teaching in a specific way without considering
alternative methods.

- 07:43 The instructor focuses on guiding students to analyze price movements and make their own
decisions.

- 08:09 The goal is to transition students from yearning to structured learning, eventually becoming
earners.

- 09:16 The instructor plans to demonstrate concepts outside a demo account, aiming for a practical
understanding.

- 11:03 Past mentorship experiences show varying results among students, highlighting individual
learning journeys.

- 11:46 Students are encouraged to actively participate in drills and homework to enhance learning.

- 12:27 The instructor emphasizes the importance of developing an independent mindset for decision-
making.

- 13:21 Lessons will be conducted using the TradingView platform for transparency and credibility.

- 13:37 For live trading, the instructor opts for TD Ameritrade due to its regulation and credibility.

- 14:17 Students are advised not to let margin limitations hinder their trading progress.
- 14:24 The speaker discusses using platforms other than MT4 for teaching and trading live funds.

- 14:35 Despite moving away from MT4 and MT5 due to potential fraud, the speaker believes students
can still use various platforms.

- 14:59 The speaker highlights the limitations of using replay features for trade entries and emphasizes
the importance of live trading experiences.

- 15:24 The speaker explains their reluctance to show live account results immediately to avoid
discouraging developing students.

- 16:41 Transitioning from demo to live trading is described as a significant shift in mindset, where losses
have real consequences.

- 17:40 The speaker acknowledges the challenges of overtrading and overleveraging in live trading and
emphasizes personal responsibility.

- 18:36 The speaker shares personal struggles and emphasizes the need for students to overcome
mental barriers to succeed in trading.

- 19:20 The speaker discusses using TD Ameritrade for trading various asset classes and the importance
of choosing a broker that suits individual trading needs.

- 20:17 The speaker mentions using TD Ameritrade for live trading and highlights the immediate fills and
solid confirmations experienced with the broker.

- 21:27 The speaker emphasizes the learning process and simplicity in trading.

- 21:31 Using limits and markets for trade entries and exits.

- 21:50 The strategies discussed are applicable in practical scenarios.

- 22:09 The speaker aims to teach a hypothetical income-based strategy.

- 22:28 The focus is on teaching trading concepts rather than competing.

- 22:47 Encouraging viewers to attempt trading given upcoming financial challenges.

- 23:03 Discussion on trading the e-mini S&P March delivery contract.

- 23:31 Reviewing trade entries and exits in the presented examples.

- 23:51 Introduction to setups that will be covered in the mentorship program.

- 24:27 Emphasis on a simple and forgiving trading strategy for optimal trade entry.

- 24:54 Encouraging viewers to explore trading setups conceptually.

- 25:13 Highlighting the potential of finding multiple trading setups over time.

- 25:49 Discussion on trading the micros and building up trading capital over time.

- 26:02 Explaining the legality of trading the U.S. 500 market for U.S. traders.

- 26:40 Simplifying trading concepts and strategies for easy understanding.

- 28:20 Emphasizing the importance of financial planning for expenses like car payments and insurance

- 28:34 Belief in the possibility of financial success through a outlined process

- 28:50 Promising to guide and coach individuals in financial decision-making

- 29:17 Expressing confidence in improving individuals' ability to analyze price trends

- 29:21 Outlining plans for a four-month YouTube internship and mentorship program

- 29:40 Detailing the schedule for the mentorship program, including episode release days and
assignments

- 30:22 Encouraging commitment to the program for improved financial understanding

- 30:46 Closing remarks and well wishes

Context

A seasoned commodity and futures trader with a rich history dating back to 1992 has recently shifted
focus towards intraday trading, particularly in the bond market. This transition underscores the
evolution of trading strategies from long-term position holding to quick decision-making approaches.
Emphasizing simplicity and practicality, the trader now advocates for individualized mentorship tailored
to aspiring traders' needs, stressing personal development, mindset cultivation, and responsibility as key
pillars for success in financial markets. The recent launch of a mentorship program on a popular
YouTube channel aims to bridge the gap between theoretical learning and practical application in
trading by guiding students through transitioning from demo to live accounts on platforms like TD
Ameritrade.

In this educational initiative, participants are encouraged to actively engage in continuous learning while
building trust in their trading setups through structured decision-making processes. The program not
only covers basic trading concepts such as price action analysis, bias assessment, and trade entries/exits
but also delves into advanced strategies like incorporating fundamental analysis alongside technical
indicators or diversifying into options, forex, or cryptocurrency markets. Looking ahead, there is a strong
emphasis on integrating new technologies like automated trading systems for efficiency while
maintaining a focus on real-time simulations and practical experiences to enhance aspiring traders' skills
and knowledge base further.

Learn More

- https://www.youtube.com/@Demo_Baller

Demo Baller - YouTube

- https://opinicusholdings.com/options-trading-blog/the-best-trading-mentorship-in-2024

The Best Trading Mentorship in 2024 - Opinicus

Opinicus offers a comprehensive 1-on-1 trading mentorship program designed to help traders succeed
in the world of trading, specifically geared towards futures and options. Program Overview. Opinicus's 1-
on-1 trading mentorship program takes an interactive approach, providing traders with a hands-on
learning experience.

- https://www.reddit.com/r/Forex/comments/14w5yga/is_ict_worth/

IS ICT WORTH ? : r/Forex - Reddit

Welcome to FXGears.com's Reddit Forex Trading Community! Here you can converse about trading
ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the
largest forex chatrooms online! ---- /r/Forex is the official subreddit of FXGears.com, a trading forum run
by professional traders.

Counterarguments

While emphasizing the importance of using demo accounts for safety reasons in trading mentorship
programs is a common practice, an overreliance on demo trading may fail to adequately prepare
students for the emotional and psychological challenges inherent in live trading environments.
Transitioning students from demo to live trading earlier in the program could better equip them to
handle real-world trading dynamics such as fear, greed, and decision-making under pressure.
Additionally, a rigid focus on teaching in a specific manner without considering alternative methods may
limit the learning potential of students with diverse learning styles. A more flexible approach that
accommodates various learning preferences could enhance the effectiveness of mentorship programs
by catering to individual needs.

Furthermore, while promoting short-term and intraday trading strategies can be beneficial for making
quick decisions, it is essential to acknowledge that different traders have varying preferences and risk
tolerances when it comes to trading styles. Biases towards specific trading approaches may
inadvertently overlook the potential benefits of long-term position trading for certain individuals.
Encouraging students to explore a range of strategies and platforms based on their unique goals and
preferences could provide a more comprehensive learning experience that aligns with their individual
needs and aspirations in the financial markets.
Shortform Summaries

- https://www.shortform.com/app/book/trading-in-the-zone/preview

Trading in the Zone

Mark Douglas