Summary:

ICT uses the metaphor “burning candlesticks and counting grains of sand” to warn traders against rushing and obsessing over time. New traders often waste time chasing flashy methods, drama, or other people’s results instead of doing the patient, repetitive work required to learn price action and risk management.

Core teaching points:
– Focus on process, not deadlines. Progress comes from consistent study, backtesting and small, repeatable wins rather than trying to “master” the market quickly.
– Use higher timeframes (15m/60m) to identify likely liquidity draws and daily bias, then move to lower timeframes (1m/5m/30s) after a stop-run/disruption in order flow to take tactical entries (fair value gaps, etc.).
– Trade small size, accept incremental profits (e.g., 10-handle targets), use stop losses, and stop trading after a loss day. A high strike-rate approach with disciplined risk management beats unrealistic R:R expectations.
– Mental skills matter: avoid negative influences, protect attention, tolerate discomfort, and build confidence through small rewards and repetition.

He illustrates with his son’s experience: modest, consistent gains from a simple, rule-based approach rebuilt confidence and outpaced traditional jobs. The final advice: stop wasting time, backtest, start small, be patient, and focus on practical, provable methods rather than hype.

Quiz

1) What did ICT mean by the phrase “burning candlesticks and Counting grains of sand”?
A. A poetic image of an alchemist studying markets
B. Traders obsessing over candlesticks while rushing success and worrying about time
C. A specific indicator-based trading strategy
D. A description of high-frequency trading algorithms

2) Which timeframes does ICT primarily recommend students use to identify a likely “draw on liquidity”?
A. Daily and 4‑hour only
B. 15‑minute and 60‑minute (hourly)
C. 1‑minute only
D. Monthly and weekly

3) If an hourly or 15‑minute liquidity level has already been traded to earlier in the day, what does ICT advise the trader to do?
A. Continue trying to trade toward that same level aggressively
B. Wait or trade something else — that framework is no longer usable for the day
C. Immediately drop to a 30‑second chart and increase size
D. Change instruments to find new liquidity

4) What is ICT’s view on standard reward‑to‑risk ratios (e.g., 3:1) for execution in live trading?
A. They are essential and must be used on every trade
B. They are theoretical myths; high strike rate and real execution matter more
C. They only apply to algorithmic traders
D. They are the only way to be profitable long term

5) What practical technique does ICT recommend for learning to hold a trade when you feel uncomfortable?
A. Always take the first profit and never hold
B. Move your stop loss to breakeven immediately
C. Take incremental exits; when discomfort hits wait two minutes before closing, then log the result and repeat
D. Double down to reduce psychological pressure

Answer key with evidence:

1) Correct: B
Evidence: “no it’s it’s us as Traders when we first start and we’re looking at these candlesticks on the chart and we’re trying to make sense of it all and pursue a dream … and we’re always at the same time counting the grains of sand I’m running out of time” (approx. 0:02:15–0:02:50). Also: “placing too much emphasis on getting there on a time that you want … and trying to do a whole lot more than what’s necessary staring at the charts” (approx. 0:02:58–0:03:11).

2) Correct: B
Evidence: “I told him if if it makes it easier for him to focus on a 15‑minute chart or a 60 Minute chart so hourly or 15 minute time frame he needs to see where the market is likely to draw to” (approx. 0:16:28–0:16:35). Also earlier: “I use a lot of lower time frame … I use a lot of lower time frame charts” (approx. 0:05:16–0:05:24).

3) Correct: B
Evidence: “if that hourly or 15 minute time frame draw on liquidity amounts you think that the Market’s going to go higher or lower … if it has traded to it one time he’s done he can’t use it he can’t use that framework he has to wait another day or trade something else” (approx. 0:23:27–0:23:36 and 0:44:42–0:44:51).

4) Correct: B
Evidence: “he just said he’s using a negative r yes because your reward to risk model [ __ ] is a myth it’s a [ __ ] myth” and “you don’t need to have a [ __ ] three to one … if you have a high strike rate” (approx. 0:36:09–0:36:23 and 0:36:46–0:36:58).

5) Correct: C
Evidence: “you take incremental exits and you hold yourself to the fact that this is what my trade was and I’m feeling discomfort as soon as you feel the discomfort close it and then watch the trade pan out … the next time you feel that uncomfortable point and you want to get out of the trade wait two minutes not one two literally two minutes and then if you still feel uncomfortable close the trade again then log it” (approx. 0:55:25–0:56:04).