Related summaries to Price Prediction

CRT Model 1 by Romeo

The video discusses the common problem faced by traders where they are able to predict the price movement correctly but are unable to capitalize on it and make money. The speaker refers to this as the "horrible stage" where traders feel like they are close to a breakthrough but keep getting dragged back in. The key to escaping this stage is to first admit that there is a problem and that you are stuck in this phase. Then, the speaker introduces a trading model that combines "Model Number 1" and CRT (Candle Range Theory) to help traders become more successful. The main aspects of this model are: 1. Identifying the CRT High, CRT Low, and the key level on the weekly timeframe. 2. On the 4-hour timeframe, looking for a "thick up close candle" that goes above the CRT High, and then waiting for it to break back below the low of that candle to enter the trade. 3. Using the CRT range to define the targets - 50% of the range as the first target, and the CRT Low as the second target. The speaker emphasizes the importance of understanding the difference between CRT and ICT (Institutional Cycle Theory), where ICT traders tend to randomly target lows without the clear objective targets provided by CRT. The video also touches on the importance of patience and persistence, acknowledging that not everyone will progress at the same pace, but if you stick with it, the "aha moment" will eventually come. The key is to not quit, even during the losing days, weeks, or months, and to focus on improving yourself as a trader rather than blaming the system.