Brief Summary
The Inner Circle Trader (ICT) introduces a new YouTube mentorship program designed to simplify trading concepts and improve understanding of price action. ICT aims to guide learners from being novices to structured learners and potentially earners, focusing on consistent setups rather than perfection. The mentorship will use index futures as an example, but the concepts are applicable to Forex as well. ICT promises to show how these concepts work outside of a demo account using TD Ameritrade, emphasizing that while success requires personal responsibility and discipline, the goal is to inspire viewers to achieve financial goals through trading.
- The mentorship program is designed to simplify trading concepts.
- It aims to guide learners through three stages: yearning, learning, and earning.
- ICT will demonstrate trading concepts using a live account with TD Ameritrade.
- The focus is on finding consistent setups and understanding price action.
- Personal responsibility and discipline are crucial for success.
Introduction to the Mentorship
ICT addresses the perception that his teachings, often demonstrated on demo accounts, may not be applicable to live trading. He emphasizes that the mentorship is designed for those eager to learn, simplifying his concepts to make them accessible. ICT aims to provide a trading model that is easy to understand and implement, even for beginners. He acknowledges that while advanced analysis can be effective, it often leads to analysis paralysis for many students.
Mentorship Approach and Promises
ICT outlines his approach to teaching a simplified version of his trading concepts through a mentorship style. He will focus on a specific trading model, primarily using index futures, though the concepts can be applied to Forex. ICT shares his background in commodity and futures trading, explaining his preference for short-term intraday trading. He promises to teach how to apply these concepts across different time frames, improving the understanding of price action. The goal is not perfection, but to identify repeating setups with common characteristics.
Three Stages of Learning
ICT details the three stages of the YouTube mentorship: yearning, learning, and earning. He emphasizes that many beginners may become frustrated and not complete the mentorship. ICT will not provide specific trade setups but will highlight areas on the chart for study, encouraging independent analysis. The intention is to guide learners through a structured process, transitioning from novices to structured learners and, eventually, to profitable traders.
Live Account and Platform
ICT addresses his promise to demonstrate trading concepts outside of a demo account in 2022. He explains his choice of TD Ameritrade as a reputable, regulated broker, moving away from MT4 due to its potential for fraud. While he uses TradingView for teaching, TD Ameritrade will be used to show live account results. ICT notes that he cannot manipulate trades on this platform, ensuring transparency.
Challenges and Personal Responsibility
ICT acknowledges that some individuals will not succeed, regardless of the quality of instruction. He stresses the importance of personal responsibility, discipline, and following instructions. While he offers guidance and homework, he cannot force students to comply. ICT also mentions that he will not adjust the mentorship to suit everyone's schedules, as he is doing this out of passion, not necessity.
Rationale for Showing Live Account
ICT explains his reluctance to show live account results, fearing it could either discourage beginners or create unrealistic expectations. He emphasizes that trading success is highly personal and can be both easy and incredibly difficult. The psychological impact of trading with real money is significant, and he will address issues like over-trading and over-leveraging in the mentorship.
Broker Choice and Strategy
ICT elaborates on his choice of TD Ameritrade, highlighting its wide range of tradable assets. He clarifies that he is not endorsing the broker but using it to demonstrate real account trading. He mentions that while he has only taken a few trades, the fills and confirmations have been solid. ICT keeps his trading simple, using limits and markets to enter trades and targeting specific profit levels.
Trading Examples and Simplicity
ICT provides examples of trades taken on the E-mini S&P March delivery contract, emphasizing the simplicity of his strategy. He aims to teach forgiving entries and the importance of understanding directional bias. The mentorship will focus on conceptually providing setups, encouraging students to find them independently. ICT suggests that even with limited margin, traders can start with micro contracts or CFDs.
Financial Goals and Mentorship Schedule
ICT shares his inspiration for the mentorship, aiming to help individuals supplement their income through trading. He believes that with the right approach, it is possible to achieve financial goals. ICT will coach viewers, helping them anticipate market movements and improve their price reading skills. The mentorship will last approximately four months, including a break in March. The schedule includes uploads on Fridays, Tuesdays, and Thursdays, with assignments and PDF files available on the community tab.
