Study Notes: ICT Core Content – What to Focus On Right Now

These are my study notes from ICT Mentorship Core Content – Month 1 – What to Focus On Right Now. I’m documenting them for personal review and to share my trading journey.

Original ICT video: https://www.youtube.com/watch?v=B7_cjybYQ0g

What You Need to Know Before You Start

Trading can seem scary at first. But if you’re new to trading, you actually have a big advantage. You don’t have bad habits to break yet.

Many people who have been trading for years learned the wrong way. They used indicators and thought the market moved because of those colorful lines on their charts. This is wrong thinking, and it’s hard to change.

Two Types of Traders in the Market

Think of the market like a game with two teams:

Team 1: Smart Money

• Big banks and institutions
• They control price movements
• They know what the other team is thinking
• They make money by taking it from Team 2

Team 2: Uninformed Money (Regular Traders)

• Most retail traders
• They think indicators control the market
• They don’t know Team 1 exists
• They lose money to Team 1

The Big Secret: Smart Money Controls Everything

Here’s what most people don’t understand: The big banks actually control currency prices. Just like a store owner sets the price of items in their store, banks set the price of money.

This isn’t a conspiracy theory. It’s just how business works. When you understand this, everything starts to make sense.

How Smart Money Makes Money

Smart money makes money by being a “liquidity provider.” This means they:

1. Know where regular traders put their stop losses
2. Move price to hit those stop losses
3. Take money from regular traders
4. Do this over and over again

They’re not evil. They’re just running a business. Your job is to think like them, not fight them.

What You Should Focus On Right Now

Forget about:

• Complicated indicators
• Trying to predict the market
• Looking for secret patterns
• Rushing to make money

Instead, focus on this one thing: Creating a daily price log.

Your Daily Price Log Setup

You need four different chart timeframes:

Daily Chart

• Show 9-12 months of price history
• This gives you the big picture

4-Hour Chart

• Show 3 months of price history
• This shows medium-term moves

1-Hour Chart

• Show 3 weeks of price history
• This shows short-term trends

15-Minute Chart

• Show 3-4 days of price history
• This shows daily price action

What to Mark on Your Charts

Every day, you need to note:

1. Quick Price Movements
   • When price moves fast up or down from a level
   • Mark these spots – they’re important
2. Recent Highs and Lows
   • Mark highs that price hasn’t come back to test
   • Mark lows that price hasn’t come back to test
   • These areas attract price later
3. Equal Highs and Lows
   • Two highs at the same level = “clean high”
   • Two lows at the same level = “clean low”
   • Price often comes back to break through these
4. Daily High and Low Times
   • Note what time the daily high forms
   • Note what time the daily low forms
   • This helps you understand patterns

Why This Matters

When you track this information every day, you start to see patterns. You’ll notice:

• Price often comes back to old highs and lows
• Certain times of day create the daily highs and lows
• Price moves in predictable ways around these levels

The Most Important Rule

Start from square one. Even if you’ve been trading for years, forget what you think you know. Follow this system exactly.

Many traders skip this step because it seems boring. But this is where the money starts. If you don’t build this foundation, everything else will be much harder.

Your Action Plan

1. Pick one currency pair to focus on
2. Set up your four charts (daily, 4-hour, 1-hour, 15-minute)
3. Start marking the levels mentioned above
4. Do this every single trading day
5. Don’t try to trade yet – just observe and learn

Keep It Simple

Remember: You’re not trying to get rich quick. You’re building a skill that will make you money for years to come.

The professionals who make real money in trading all do this type of work. It might seem boring, but it’s the foundation of everything that comes later.

Final Thoughts

Being new to trading is actually a gift. You can learn the right way from the start. Most traders have to unlearn years of bad habits.

Take this first month seriously. Focus only on your daily price logs. Don’t worry about making money yet. That comes later, after you understand how the market really works.

The market will always be there. But if you rush and skip these basics, you’ll end up like 90% of traders who lose money. Take your time and do this right.

Your future profitable trading career starts with these simple daily habits. Make them part of your routine, and you’ll be amazed at how much clearer the market becomes.

Disclaimer: Trading involves substantial risk and is not suitable for all investors. Past performance does not guarantee future results. This content is for educational purposes only and should not be considered financial advice. Always consult with a qualified financial advisor before making trading decisions.