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ICT > Romeo Turtle soup A to Z > Flashcards

Romeo Turtle soup A to Z Flashcards

1
Q

Where is learning done?

A

Learning is done off social MEDIA!!!

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2
Q

What are the markets?

A

Markets are a money losing machine, good place to go and lose money (FX, Crypto), stats are that 95% of people lose money

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3
Q

What is more important Technical Edge or Risk to Reward?

A

Risk to reward is more important no mater how good your technical edge is because you are always going to have that 8 trade losing streak, meaning if I have a technical edge (turtle soup, OHLC) it does not matter if I am gambling

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4
Q

What is purpose of Journaling?

A

To correct mistakes as every sickness has a cure and every problem has a solution.

Example: I held to long -> meaning I did not identify the external range liquidity (old high)

To eliminate shit trades (bad trades)

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5
Q

What should I write down after every single trade?

A
  1. Number of the trade, asset
  2. Before (expectation): I anticipate ES to bounce at weekly FCG adn attack teh weekly highs
  3. AFTER: What did happen? Where did happen? How did my expectation play out? What could I do better? For example I did not wait for price to completely trade into the PD array. How could I improve my execution.
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6
Q

When losing a trade are charts wrong or is the operator at fault?

A

It is the humen error and it is correctable as there is solution for every single mistake. Markets are always right, Time and Price are always right I only have to get in sync with it, meaning every error is my error.

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7
Q

First thing when looking at the market what do I ask myself?

A

What is the current Market Profile?

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8
Q

Which market profiles are existing?

A
  • Trending
  • Ranging which also has a sub profile -> chop
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9
Q

What does mean choppy market on HTF on LTF?

A

Choppy market on HTF is Trending Market on LTF. Market will always go from Consolidaiton to Expansion

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10
Q

What tells me if price is in consolidation or expansion?

A

I look at the SIZE of the candles (bodies) that is going to tell me if market profile is consolidation or expansion.

small ranges on HTF -> consolidaiton
big ranges on HTF -> expansion

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11
Q

Price is fractal what does that mean?

A

That means for example if the daily TF is going to have consolidaiton (posting small candles) I can go to the 1h TF meaning price could there be in a range (fractal) and if I even go to a TF lower price is going to be expanding.

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12
Q

Where should I be looking for my “pattern” to occur?

A

I should be looking for the pattern to occur inside of a wick.

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13
Q

When do HTF PD arrays STOP working?

A

When Price reaches a HTF Liqudity POOL,that is when I could anticipate dispalcemnt, and as soon as price disrespects bullish PD arrays (when Buyside Liquidity reached) that is my indication that Institutional Order Flow is changing.

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14
Q

What occurs if the daily bullish PD array fails?

A

If for example daily bullish OB fails (price closes below the MT of the OB) then I can be anticipating price is going to be reaching for the weekly PD array that should be below the price (for example FVG).

if 5min TF support fails -> go to the 15min TF -> if 15min Key support fails -> go to the 1h TF.

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15
Q

Which entries are going to be inside of a expansion leg higher or low?

A

Turtle Soup and deep retracement back into the OTE

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16
Q

What is Smart Money?

A

Smart Money is a small group of people, they are the market makers.

There is small amount of market makers who own the market, previously by hand (AMD), transfering money from highs to below lows (and vice versa).

Now is done algorithmically and electronicaly.

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17
Q

Whos is the Dumb Money?

A

Dumb money are the hedge funds and the Institutions. Hedge Funds do no KNOW what they are doing. Every institution is is getting wrecked by Market Makers.

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18
Q

Who has taught Dumb Money how to trade?

A

Smart Money has tought Dumb Money and they have done it in a way to get their Money.

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19
Q

How did Smart Money teach Dumb Money to trade?

A

Those classic technical analysis BOOKs are teaching me to BUY above the old highs and SELL below the old lows (breakout traders).

Classic Technical analysis teaches me to buy above the high and sell below the low.

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20
Q

To what can buying above old high, and selling below old low lead.

A

It can lead to retracement to continue OR complete reversal.

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21
Q

What is the general logic of what the retail is taught?

A

Buy breakouts above the old highs.
Sell the breakouts below the old lows.

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22
Q

How does True Market Structure Shift Look like?

A

True market structure shift (when they really fliped orderflow), will really expand and everyone is going to chase (DISPLACEMENT).

Then there is going to be sharp retracement to scare every one away, and then there is going to be the real move occuring.

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23
Q

Where is the a TRUE Market structure shift going to occur?

A

True market structure shift is always going to occur AT the HTF PD array.

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24
Q

How does the real bottom look like?

A
  1. STL that bottoms at or just above bullish HTF PDA
  2. STH
  3. Price declines one more time and getting breakout traders to sell below the STL, in reality it is just accumulating sell stops and tapping into the HTF PD array.
  4. From HTF PD array then there is massive expansion higher wrecking everybody as price agressivly expands higher (Displacacement -> Breaking STH)
  5. Price retraces agressivly deep to scare everyone and then it usually expands higher which is the real move higher.
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25
Q

When it is the ONLY time I would anticipate a bottom forming with equal lows or top with equal highs.

A

The ONLY time is when there is a SMT. SMT is confirmation of Smart Money inside the markets, BUT still I have to be focusing on HTF.

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26
Q

What is RULE Nr 1?

A

Buy Low, Sell high.
Do NOT buy high, Do NOT sell low.
Meaning focusing on the discount and premium logic.

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27
Q

Where is the best place to buy and where to sell?

A

Best place to buy is below old low.
Best place to sell is above old high.

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28
Q

What are three ways to measure high and low?

A
  1. Using IPDA DATA Ranges? 20, 40, 60
  2. Dealing Range
  3. Current Expansion Leg

*Note: Romeo when looking at the Daily TF and doing IPDA Data Ranges is focusing on counting bars and also FOCUSING ON COUNTING DAYS.

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29
Q

Which lows and highs should I be focusing on when pulling my fib on?

A

Focus on lows where the REAL expansion higher occured, real move or dispalcement higher.

Focusing on the lows (from which there was dynamic reaction/expansion higher) which broke the highs that created the lows.

30
Q

On which lows and highs should I be focusing for Turtle Soup?

A

For Turtle Soup I should be focusing on 20 DAY (not counting candles) HIGH and Low.

31
Q

With what Tool should I combine the highs and lows that I measure?

A

I should be combining them with the HTF PD Array.

32
Q

What is Rule Nr 2?

A

LTF Market structure shift is LESS Important than HTF PD Array!!

HTF PD array is always going to have dominance over the LTF, meaning it is going to be more important

HTF PD Array > LTF Market Structure Shift

33
Q

What could be the reaction of price when at the HTF PD array (3 things)?

A

It could be:
- V shape reversal
- Turtle Soup or Failure Swing (anticipating 2 taps into the key HTF PD Array)
- Multiple touches at the key level (least favorable)

Ideally I have to be see nr1 or nr2.

34
Q

What is Dumb Money doing and what should I be doing opposite to them?

A

Dumbe Money is selling below old lows, and buying above old highs.

As SM trader I have to do the opposite meaning,

Buying below old lows, selling above old highs.

35
Q

What is HTF FVG on LTF?

A

HTF BISI for example is on LTF simply a old low with liqudity below it.

36
Q

What PD Array is going to prevent price from trading lower into the BISI?

A

BPR and bullish BRK are going to prevent from imbalances to be fully rebalanced or could also remain open.

37
Q

What are the entry options?

A

Turtle Soup
Orderblock
Breaker or agressive Retracement back to OTE.

38
Q

Example of LTF Market structure shift less important than HTF PD Array

A

Daily market structure to bearish is going to be LESS Important then a HTF Monthly bullish PD Array.

39
Q

What are Rule nr1 and nr2 again?

A

1: DO not buy high, DO not sell low. Buy lows, sell highs
2. HTF PD array is more important than the LTF Market Structure Shift

40
Q

What occurs to the sell side of the curve PD arrays on buy side of the curve?

A

The PD arrays on sell curve are going to be SUPPORT(INVERSED) on buy curve and will form PD arrays similar to them on buy side of the curve.

41
Q

Why som gaps remain unfilled (4 reasons)?

A
  • BPR
  • BRK (dominant PD Array)
  • HTF Gap is sometimes going to leave LTF Gaps open.
  • Turtle Soup is going to prevent the gap from filling.
42
Q

What is the recepie for a nice Turtle Soup.

A

HTF FVG (HTF PD Array) into LTF Liqudity Pool and result of that is nice Turtle Soup.

43
Q

How does the ICT process look when looking at HTF and identifying directional order flow (4 steps)?

A
  1. Seasonal Tendency
  2. Monthly Bias (Data Ranges)
  3. Weekly Profile
  4. Time of the Day
44
Q

What is BIAS?

A

Bias is WHY should price go where it is going.

45
Q

What is Narrative?

A

Narrative is WHERE price is going.

46
Q

What criteria should high probability OB create? (3 things)

A
  1. Take Liqudity or rebalance an Imbalance
  2. Paired with FVG (as FVG make every PD array stronger)
  3. Thick bulky candle
47
Q

How does the Opening Price act as a filter?

A

It is a filter between overbought and oversold.

48
Q

Where should I be buying ideally in regards to opening price?

A

I want to be buying below the opening price when price is reaaching into the HTF PD array whcih is overlaping with Liqudity Pool, and OTE meaning in discount of the range.

49
Q

If HTF (M & W) are bullish and the LTF (D TF) is bearish which one do I trust?

A

I am always trusting the HTF, meaning in this case M & W as they are going to be more important over the LTF and are going to have dominance over the LTF.

50
Q

What is the logic behind the Market Structure Shift?

A

1) Consolidation at or just above the HTF PD array.
2) False Bottom for liqudity purpose
3) Price is going to dig deeper below the STL just to suck in MORE retail (dumb money)
4) Dig deep into the HTF PD array and then DISPLACEMENT higher
5) Deep retracement to scare people off once again and then continue in the direction of displacement.

51
Q

Why am I struggling with trading?

A

Because I do not have the MODEL. I have to pick the MODEL and stick with!

Without the MODEL Social Media is also going to be a big distraction.

52
Q

How can I filter FALSE Bottoms and FALSE Tops

A

False Bottoms and False Tops can be filtered out with a HTF PD Array.

HTF PD Array is a FILTER for high probability TRADES and Turtle Soups.

53
Q

Where inside of a Price Leg or Range is good to anticipate a turtle SOUP?

A

50% of any price leg is good area to anticipate a TURTLE SOUP.

50% of any range is good area to anticipate turtle soup or continuation.

54
Q

What are the two markets profiles in which market could be?

A
  • Trending Market Profile
  • Ranging Market Profile
55
Q

What is an up trend?

A

Rejecting lows and breaking highs while creating higher highs and higher lows.

56
Q

What is an down trend?

A

Rejecting highs and breaking lows while creating lower lows and lower highs.

57
Q

How do markets move?

A

Markets move in Expansions and Consolidations.

58
Q

What is the meaning of consolidation?

A

Market Makers are controlling the market and they have a job to GENERATE interest and suck in players. The way they do that is by PO3 (accumulation, manipulation, distribution)

59
Q

What is occuring inside of a reversal pattern (bearish) ?

A
  1. Accumulation - generating interest on both ends of CLEAR defined range
  2. Price breaks above the range, grabs liqudity, accumulaates the liquidity from the highs in order to distribute them below the lows.
  3. Expansion lower in order to f up more participants
60
Q

What is every accumulation (consolidation) doing?

A

It is generating INTEREST on both sides of the clear defined range, and then TRIP one end of the range to another

Accumulation (range) to generate interest on both sides -> Manipulation and then distribution.

61
Q

How can highs and lows tell me whether Smart Money is net long or net short.

A

If Price is rejecting highs and breaking lows = SM net short.

If Price is rejecting lows and breaking highs = SM net long.

62
Q

What are characteristics of a initial breakout?

A

It is INITIAL rejection (example rejection above old high), followed by expansion (lower).

63
Q

What are HTF FVGs on LTF?

A

FVGs on HTF are on LTF simply SWING low with liquidity below it.

64
Q

What is rejection in price?

A

Rejection is REFUSAL to expand above old high and below old low, it can be instant rejection OR consolidation below the low or above the high.

65
Q

Logically what highs and lows should I be focuisng on?

A

Logically focusing on the lows that have liqudiity below them (for example, HTF PD array, FVG) and on highs that have liqudity above them

66
Q

How does it look when SM is net long?

A

Smart Money is accumulating below old lows (rejecting old lows) and offseting positions above the old highs (expanding aka breaking thru them)

67
Q

What are my targets or DOL?

A

My targets or DOL are Imbalances and old highs or old lows.

68
Q

Where am I buying in up trend?

A

In up trend (price rejecitng lows, breaking highs) I am buying the DUMPS below the old lows as a TURTLE SOUP. (Ideally into HTF PD array)

69
Q

Where am I selling in down trend?

A

In a down trend (price rejecting highs, breaking lows), I am selling the pops above the old highs as turtle soup (ideally into the HTF PD array).

70
Q

Where can I anticipate price to reverse?

A

I am anticipating price to reverse whwn the HTF Liqudity pool is reached for example 3 Months or 6 Months high.

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