Summary of "ICT Mentorship 2023 Ep 01"

Summary of “ICT Mentorship 2023 Ep 01”

This video serves as an introductory mentorship session by the creator of Smart Money Concepts (ICT), outlining the roadmap for learning and trading index futures and Forex in 2023. The mentor emphasizes a disciplined, algorithmic approach to price action trading, focusing on liquidity pools, fair value gaps, and market structure rather than traditional retail trading patterns.

Main Ideas and Concepts

Introduction & Housekeeping

The video is the first mentorship session of 2023.
New students are advised on where to start learning via playlists on the YouTube channel.
Recommended learning path:
1. Market Maker Primer Course
2. Market Maker Series
3. Pattern Recognition Series
4. Geometry High Probability Scalping
5. Scout Sniper Basic Field Guide
6. Core content lessons (monthly progression)

Focus for 2023

Primary focus on Index Futures Trading (ES and NQ) with daily commentary Monday-Friday.
Forex coverage includes Dollar Index, Euro Dollar, British Pound.
Two weekly live streams analyzing real-time price feeds (not a signal service, no live trading).
Videos will be uploaded for those who cannot attend live.
Twitter will be the main alert system for live sessions, schedule changes, and market updates.

Social Media & Communication

No Telegram, Instagram, Discord, or direct messaging.
All mentorship content is free except for upcoming books (1 fiction, 3 educational).
Twitter is critical for timely alerts and updates.

Market Analysis & Trading Methodology

Emphasis on understanding liquidity pools (buy-side and sell-side liquidity).
Use of fair value gaps (FVG), liquidity voids, imbalances, and price inefficiencies.
Market moves algorithmically to seek liquidity, not driven by “buying pressure.”
Importance of recognizing inside days, balanced price ranges, and market narratives (not bias).
Use of multiple timeframes (4-hour, hourly, 15-minute, 5-minute, 1-minute) to analyze nested fair value gaps and liquidity zones.
Time settings on TradingView must be set to New York time for alignment with analysis.

Trade Execution Insights

Entries are based on precise price action around liquidity pools and fair value gaps.
Stop losses placed just outside key fair value gaps or liquidity zones.
Focus on capturing moves of about 5 handles (points) as a practical and consistent target.
Avoid reversing trades impulsively; if analysis fails, wait for the next session.
PM session (3-4 PM NY time) often provides clear, high-probability setups.
The market acts like a living organism, requiring adaptability and discipline.

Philosophy and Warnings

The market is algorithmic, not emotional or driven by retail traders’ psychology.
Many retail trading concepts (patterns, harmonic analysis, trend lines) are less relevant.
The mentor claims proprietary knowledge and warns against copying or teaching these concepts without full understanding.
Discourages impulsive live trading and urges students to develop discipline and patience.
Emphasizes paper trading/demo accounts for learning and compliance reasons.
The mentor will not provide signals or live trade recommendations to avoid conflicts of interest or accusations of manipulation.

Future Plans

More frequent and detailed live sessions starting February 7, 2023.
Until then, weekly videos to prepare students.
Encouragement to review past mentorship videos (2022) to build foundational knowledge.
Upcoming books will consolidate and formalize the teachings.

Methodology / Instructions for Students

Learning Path:
- Start with foundational courses in the playlist.
- Progress through monthly core lessons sequentially.
- Watch live streams twice weekly for real-time market analysis (starting February).
- Follow Twitter for alerts and updates.
- Use TradingView with New York time settings.
- Study multiple timeframes to identify liquidity pools, fair value gaps, and imbalances.
- Take notes diligently and show up daily for consistent learning.
- Use demo/paper trading accounts to practice before considering live trading.
- Focus on capturing 5-handle moves as realistic profit targets.
- Avoid impulsive trade reversals; wait for confirmation or next session.
- Understand market narrative vs. bias: narrative is the expected market behavior, bias is directional trading preference.
- Respect algorithmic market behavior; do not rely on traditional retail patterns.
Live Session Structure (future):
- Dual screen with 5-minute and 1-minute charts.
- Annotate key levels top-down.
- Minimal talking; focus on salient points.
- No live trading or button pressing; purely market observation and commentary.

Key Terms Explained

Liquidity Pools: Areas where stop orders cluster (buy stops above highs, sell stops below lows).
Fair Value Gap (FVG): Price inefficiencies where the market moves too quickly, leaving gaps likely to be revisited or respected.
Liquidity Void: Actual gaps between candles where no trading occurred.
Balanced Price Range: Price areas where buying and selling are in equilibrium.
Inside Day: A trading day where price remains within the previous day’s high and low.
Algorithmic Market: Market moves driven by programmed order flow and liquidity seeking, not by human emotion.
Handles: Price increments; in ES futures, 1 handle = 1 point.

Speakers / Sources

ICT Mentor / Smart Money Concepts Creator (main and sole speaker) The video features a single speaker, the creator and mentor behind the ICT (Inner Circle Trader) methodology and Smart Money Concepts, who provides detailed market analysis, teaching, and mentorship guidance.

End of Summary