Summary — Trader Round Up with Michael

– Purpose/tone: Michael hosted an open, collaborative Trader Round Up encouraging inclusivity among trading influencers, humility in teaching, and continuous improvement. He wants dialogue between communities, not toxicity.

– Market environment: Markets are tougher now with more manipulation and “wick hunts.” That makes trading harder, not impossible — students should learn to navigate modern conditions rather than only studying older, calmer markets.

– Study guidance: Michael recommends studying his most recent content first (so you learn to trade today’s environment) and then work backwards. He’s published targeted playlists (e.g., “If I were 20…”, other curated playlists) to help new students prioritize material.

– Core concepts emphasized: read price “breath” (inhalation/exhalation of candles), PD Arrays (price discovery areas), fair value gaps (FVGs), order blocks, rejection/return blocks, SMT (relative strength between correlated indices), opening-range gaps, octants/quadrants and top‑down analysis (monthly → weekly → daily → intraday).

– Practical trade principles:
– Use proximity and confluence to choose entries; pyramiding and using higher‑TF structures to refine one‑minute entries are acceptable.
– Expect to be clipped sometimes — review logic, re‑enter if the setup still holds (don’t “throw the baby out with the bathwater”).
– Disassociate emotions from chart signatures; focus on measurable signatures, not feelings.
– Keep a disciplined journal and compare your own progress over time rather than comparing to other traders on social media.

– Specific technical notes from the session:
– Use current CFD charts if you can’t trade futures — behavior is broadly comparable for signatures even if individual candlesticks differ.
– Silver‑bullet refinements and sub‑minute FVG models were discussed as tools for higher‑frequency opportunities.
– For cluttered overlapping gaps, Michael suggested drawing the highest high and lowest low across the cluster and creating octants/quadrants from that aggregate range to simplify focus.

– On SMT and intermarket signals: SMT (relative strength across correlated instruments) is useful but not a standalone edge — it must be blended with other logic and context; sometimes apparent SMT signals are “phantoms.”

– Study/playbook advice: add clear confluences to your model and test them (macros, midnight/6:00 opens, FVGs, order blocks, etc.). Start with one robust model, master it, then explore related patterns you repeatedly see.

Overall takeaway: trade modern market structure by learning signatures and logic, prioritize recent, real‑time examples, build simple repeatable models with clear confluence, journal progress, and avoid comparing yourself to social media highlights.

Quiz

1) According to ICT, what should a new student with limited time study first?
A. Older market conditions from many years ago
B. ICT’s most recent material and then work backwards
C. Only textbook technical analysis (moving averages, crossovers)
D. Random social media trade highlights

2) If your stop is clipped by apparent manipulation, what does ICT advise?
A. Quit trading immediately
B. Publicly call out market manipulators
C. Review the trade, admit user error if applicable, and re-enter if the logic still holds
D. Double your position to recover losses

3) What is ICT’s stance on using SMT (intermarket relative strength) as a trading signal?
A. SMT alone is always sufficient to enter trades
B. SMT alone is never useful in any situation
C. SMT can be useful but must be blended with additional logic; alone it does not warrant participation
D. SMT applies only to NASDAQ and not to other instruments

4) When multiple opening gaps and ranges overlap on a chart, what method does ICT recommend to simplify which levels to focus on?
A. Plot every single gap and trade all of them equally
B. Ignore opening gaps and use moving averages
C. Take the highest high and lowest low of the combined ranges and draw octants/quadrants across that composite range
D. Only use the 1-minute chart and discard higher-timeframe structure

5) Regarding trading CFDs versus futures and concerns about missing “real-time” futures data, what does ICT say?
A. CFDs are unusable; you must trade futures only
B. Futures always behave identically to CFDs, so no difference matters
C. CFDs and futures can differ in detail, but if you know what you’re looking for they generally behave very similarly and you can trade the CFD using the same concepts
D. CFDs always show cleaner price action and should replace futures for all traders

Answer key with evidence (no timestamps available in transcript):

1) Correct: B
Evidence: “I would suggest that they focus on whatever I’ve done most recent and work backwards… I’m teaching now how to navigate with that stuff going on anyway. So there’s no better way of being able to determine whether someone’s worthwhile learning from than seeing them navigate right now the right now market.”

2) Correct: C
Evidence: “We don’t throw the baby out with the bathwater. We just see what it was. Okay, they clipped me, but it still looks like it’s going to go. Okay, re-enter and see what happens… There’s no greater boost of confidence than saying, ‘Okay… I got clipped… re-enter and see what happens.’”

3) Correct: C
Evidence: “SMT, you in and of itself without any logic added to it, you it doesn’t warrant any participation at all… what you’re identifying, it’s a real phenomenon. But don’t be discouraged if it comes against the one you’re in because it just means that it’s going back to get in sync…”

4) Correct: C
Evidence: “What I do… I take the highest high of everything I’m looking at in terms of the range. If it’s new day opening gaps, new week opening gaps… I get the highest high and the lowest low. And I do the octants and quadrants cross that. And that… gives me all the PDAs I would have used anyway but it gives me the furthest extreme all the key levels in between and I’m just going to focus there.”

5) Correct: C
Evidence: “There’s going to be a difference in the pricing, but overall if you know what you’re looking for, they’re generally going to behave very very close to one another… find that time candle I’m referring to. Find it on the CFD and it’s going to behave the same way.”

Summary

Trader Roundup conversation with Michael

– Opening: Michael demonstrated an unusual, high-confidence trade and participants reacted to its rarity. There were some tech issues during the session.

– Core theme: trade selection, context, and discipline matter more than any single indicator. Michael repeatedly stressed that experience, patience, and strict risk rules beat overtrading or “clever” tweaks.

– 2022 model vs. macro windows: When a clean 2022-model setup conflicts with a key 4‑hour macro imbalance (e.g., 150–210 window), use context: treat the higher‑timeframe imbalance as a strong draw of liquidity. Look for price behavior (rejections, three‑drive patterns, climactic breaks of buy‑side liquidity) before assuming the level will fail or hold.

– Fair Value Gaps (FVGs) & first utilization: the FVG’s first characteristic at formation (close direction, candle structure) matters. First utilization can act as discount/premium or invert; anticipate inversions if a FVG opposes a higher‑timeframe draw. Not every FVG is tradeable — bodies, subsequent candles, and how long price lingers inside the gap determine usefulness.

– Order blocks / mitigation: when order blocks are breached, they often become mitigation/inversion blocks; smart participants use these to manage positions. Candle bodies and how many candles live inside an imbalance are important tape‑reading clues.

– Position sizing and pyramiding: trade with one micro (one contract) until you have significant experience. Adding contracts without disciplined rules builds bad habits and psychological scar tissue. Only pyramid after clear, experienced criteria (equity thresholds and model validation).

– Reading session/time profiles: Michael has detailed time‑based profiles for sessions (Asia, London, New York). Studying day-to-day and session-to-session characteristics helps form expectations for where price will act — but this skill requires extensive study and experience.

– Managing drawdown and psychology: if you’re bleeding money, stop trading and step away (minimum days). Ground yourself, reduce to one micro, and rebuild discipline. Backtest and collect statistics before risking real capital.

– Practical chart management: when many PD Arrays/FVGs cluster, simplify — take the extreme high and low of the cluster, grade/quadruple the range and use that hybrid range instead of cluttering charts with overlapping lines.

– Specific trade-read tips: watch candle bodies for signs of failure or continuation; if price repeatedly spends too much time inside an imbalance (many candles), that FVG is probably not actionable. Use consequent encroachment and lower/high quadrant logic for gauging whether potential lows/highs will hold.

– End-of-day/opening gaps (ndogs, new‑week/new‑day opening gaps): they’re often revisited — Michael looks back up to ~20 days (longer in calmer markets) for useful gaps and FVGs and integrates them into weekly/daily targets.

– Teaching approach & community: Michael emphasized core content (months 4, 8, 10 referenced for fair value gaps, profiles, session rules) and encouraged students to study steadily. The community and supporting hosts help manage the sessions and make learning accessible.

Overall message: learn to read price in context, trade small and disciplined while you build experience, use higher‑timeframe draws and tape‑reading (candlestick bodies, patterns like three‑drives) to validate setups, simplify chart signals when PDAs cluster, and practice patience and strong risk management.

Quiz

1. What did Michael recommend newer traders use in the current difficult market environment?

A. Three micros to accelerate learning
B. One micro and babysit it to completion
C. Full size positions with tight stops
D. No stops, only scaling in

2. According to Michael, what is the most important thing to know first when using a target or draw?

A. The exact candle color of the setup
B. Where price is likely to go next
C. The news schedule for the week
D. The highest volume candle on the chart

3. What did Michael say about adding a second contract?

A. It should be done whenever confidence feels high
B. It should only be done after specific equity goals are reached
C. It should always be done on the first trade of the day
D. It is required for every inversion setup

4. What did Michael say about trading after a bad period or drawdown?

A. Increase leverage to recover quickly
B. Keep trading to rebuild confidence immediately
C. Stop trading for a few days and reset
D. Switch to only one-minute charts permanently

5. What did Michael say about a fair value gap that has too many candlesticks inside it?

A. It becomes stronger and more reliable
B. It should be treated as a valid breaker
C. It should be abandoned
D. It always indicates a guaranteed inversion

Answer Key with Evidence

1. B
Evidence: “I think it would better serve you to just do one micro and babysit that thing to completion and get your baseline experience through this difficult market.”

2. B
Evidence: “That’s the whole purpose of having first utilization um understood because once you know where you’re likely to draw to…”
And: “know where it’s going to go to next”

3. B
Evidence: “where how you would add a second contract is when you reach specific equity goals.”

4. C
Evidence: “the first thing you do is stop trading. You have to give yourself permission to to at least stop for a couple days…”
And: “minimum three days, preferably a week”

5. C
Evidence: “you do not want to see a lot of candlesticks inside of them… you need to abandon that one entirely.”
And: “it would not suit or serve you well using this for that one.”

Summary of the conversation

(Kitt moderating; Michael = “ICT”):

Context
– Live Q&A/mentorship session about ICT trading concepts: tape reading, fair value gaps (FVGs), PD arrays, trade management, market structure and mentorship practice.

Practical trading rules & observations
– Most meaningful price action occurs in the first hour of regular trading (9:30–10:30 ET). Trade that range and then step aside if needed.
– For “first-presented” fair value gaps at the top of the hour, Michael prefers waiting for the subsequent candle (e.g., 10:01+) rather than taking the exact top-of-hour candle as the official first FVG.
– Candles printed inside an inefficiency: historically 2–3 candles was the rule; given recent higher volatility Michael is more forgiving up to ~5 one‑minute candles, but beyond that probabilities shift against the trade.
– Markets are currently more event-driven and extreme (one‑minute candles can move hundreds of handles). Be selective: reduce size or use more forgiving models/stops, or don’t trade.
– Avoid chasing multiple models simultaneously; pick the model you’re trading and stick to it (important for execution and teaching clarity).
– Trailing stops: Michael avoids tight trailing in today’s environment because sudden, extreme spikes can sweep many stops; alternatives are smaller size or using partials and wider stops.
– When trading CFDs (e.g., US Tech 100) vs Nasdaq futures: futures show the primary price discovery. Use futures levels for precision; if trading CFDs, time entries to the futures moves, accept less precision, use wider stops/targets and appropriate leverage.

PD arrays, models & pedagogy
– The Month‑4 PD Array matrix taught earlier has consistent spatial placement (predictive). Newer PD arrays (Ma Deuce/Reaper/Gauntlet/etc.) are standalone methodologies that can form anywhere in the matrix and don’t follow the same hierarchy—treat them as separate complete models.
– Zircon is described as more of a model blend than a classic PD Array.

Study, habits and community guidance
– Best daily habit: top‑down checklist/review of prior expectations, key levels, and “if/then” plans carried from previous sessions; journaling to capture wins, mistakes, and blind spots.
– Honest journaling exposes what you don’t see in the moment and helps generate specific questions for mentorship.
– Follow community protocols for posting charts/questions to make sessions efficient and useful for everyone.

Philosophy & bigger picture
– Michael asserts markets are heavily managed/manipulated (algos, interventions, extreme liquidity runs). This reality requires different tools and approaches than simple buy/sell pressure assumptions.
– He’s committed to continuing to release deeper materials and tools despite pushback because he believes traders need these methods to operate in today’s environment.

Practical takeaways
– Focus on the first hour, trade what price gives you, use FVG timing rules (prefer 10:01+ at top of hour), be disciplined about candle counts inside inefficiencies, adapt size/stop strategy to elevated volatility, use futures for level precision if possible, and keep a rigorous top‑down checklist and journal.

Quiz

1. According to ICT, what trading approach should take priority when deciding whether to enter a trade?
A. Always follow your original bias no matter what
B. Trade only the opening bell direction
C. Whatever price is giving you at the time
D. Trade only after the market closes

2. What did ICT say about the first hour of trading?
A. It is usually too noisy to trade
B. It contains the majority of the day’s trading and can be enough by itself
C. It only matters for futures, not CFDs
D. It should be ignored after 9:45 AM

3. When discussing the Silver Bullet, what did ICT say about the first fair value gap after 10:00 AM?
A. Use the exact 10:00 AM candle if it forms the gap
B. Wait for a candle after 10:00 AM, such as 10:01 or later
C. Only use the 11:00 AM candle
D. Never use fair value gaps after the top of the hour

4. What did ICT say about trading CFDs versus NASDAQ futures?
A. CFDs are always more accurate than futures
B. The CFD and futures levels will always match exactly
C. Use the futures market levels as the main reference, then execute in the CFD with a forgiving stop
D. Ignore the futures market completely when trading CFDs

5. What daily habit did ICT say had the biggest impact on his consistency?
A. Only trading one setup per week
B. Journaling and doing a top-down checklist of expectations and what price has done
C. Watching only one timeframe all day
D. Removing all chart annotations every morning

Answer Key

1. C
Evidence: “Whatever’s in the chart at the time trumps anything else.” and “Whatever’s in the chart at the time trumps anything else. Like it’s, it’s event driven now.” Also: “I don’t care if it goes up a thousand handles from here. It’s, it’s a trade I would never, ever take, I would never take that.”

2. B
Evidence: “majority of the trading has been done in that first hour trading.” and “if you just engage only in that first 60 minutes, it’s enough, move to the sidelines and let ’em do whatever they wanna do with the market after that.”

3. B
Evidence: “I want a subsequent candle after 10 o’clock. So 10 0 1 or thereafter. I’m looking for the very first one to form.”

4. C
Evidence: “I would put more credence on the levels that’s seen in the NASDAQ futurist market, because that’s the real information.” and “I would then, at the moment, it touches those levels in the futures market, I would just simply execute at market what I was expected to see in the delivery on the CFD.”

5. B
Evidence: “Going through a top down check of, uh, the things I had listed the last time I looked at the chart and my expectation and the things I would anticipate” and “It’s a matter of knowing what I’m looking for, what price should and should not do because of the experience that you gain by doing all this stuff and adhering to that.”