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Nice example, CF, that's indeed a core "Brooks style" setup of mine and has made it easier for me to manage trades. Thanks for you kind words; you were my scalping inspiration, you're a true professional. Happy New Year and ring me up sometime :) Guys, CF is the real deal. This guy...

I no longer walk away because I would miss the breakout when it finally occurred. I can't just patiently sit there because I'll either chew my leg off or start hallucinating setups where none exist. My solution is to log into Skype where I try to interpret whether Jeff's dog is signaling a...

I found this thread to be quite excellent and posted some price action tactics here and others did as well: http://www.elitetrader.com/vb/showthread.php?s=&threadid=220303&perpage=10&pagenumber=2 I think maybe you don't understand what price action is. It's not a specific "thing" someone...

Ammo, only one of the setups I trade is not Brooks; it's a pure counter-trend play that works quite well under certain conditions on the instrument I trade and I always use a tight stop and tight risk management with it. The other five setups I trade are pure Brooks. That said, I've come...

And I condensed everything I extracted from my study of price action (via Brooks' first book) into 12 pages of material that constitutes my written trading plan. The plan makes it simple for me, but the course I took via Brooks' book gave me the tools I needed to do the R & D to develop my own...

That's my take as well. Zen, do you think all CL traders are speculators and all are trading in the same general time frame for the same general reasons? Heck, no. As for the hundreds of pages Brooks has written: He's offering his "10,000 hours" of experience and providing a...

All this arguing about market orders isn't relevant to after-hours trading. Market orders and stop orders aren't active in the AH sessions; only limit orders are. So the OP did in fact place a limit order to buy, not a stop or market order. Although anything is possible, it seems odd that...

No one "holds" the highly effective price action method of trading. The reason it works through all market conditions is because you're learning to interpret the meaning of price bars (hence the phrase "bar by bar") and the context in which they print so that as an individual retail trader you...

The Oanda idea is a good one. You can, as RCG pointed out, risk the equivalent of a Friday happy hour while testing various strategies and getting some valuable screen time. I'm leery of indicator-based trading because I studied several of them and backtested several of them and despite the...

I'm confused: Are you intending to buy stocks that are 4% down and sell those that are 4% up or do you mean the other way around? The description of stochastic trading sounds like counter-trend trading. P.S., your comment about a 9 to 5 job tells me you have too much bias and ego right...

Brooks gets credit for handing us 10 years of experience in a book-format trading course that will take a fairly bright and dedicated student about 6 months to a year to complete. I get the credit for being one of those students who put in the year of work to turn the book-learning into a...

Again today (I've done this a lot for a year and a half now), I spent time with other Brooks PA traders and in a couple hours in real time at the hard right edge put on six trades consisting of one loss, one break even, three minimum profit targets and one channel breakout for a total of 83...

Absolutely, but I'm under the assumption PO already did that because of the references to not following the plan. So now the work is to trade that plan and if having trouble with the plan, start writing things down or talking out loud to yourself or gathering a small group of fellow traders to...

I trade a 5-min charts with a 20-bar EMA and I draw trend lines and parallel channels because the way price reacts to those levels determines whether I will take my minimum profit or hold for more (I won't put on a trade if the next S/R level in line to be tested isn't at least my minimum...

It's time to work, PO. When you analyze the market at the time you turn on your platform, only analyze what you see, not what you think might happen (might go up, might go down). If there's a gap up overnight, write down three things price could do in the first 15-30 minutes after the open that...

If you made the effort to comprehend what he explains in his book(s) and implemented the tactics, your comments about him would be very positive. I've spent nearly a year speaking with several Brooks PA traders and every one of them understands enough of his concepts to put on excellent trades...

I was waiting for a second entry short if the 20 EMA broke and it was a failed b/o of the EMA. I was figuring out where I wanted to place my buy stop to go long and it took off! I tried to jump in and every time I tried to buy at the offer it ran away more. I lost my mind and chased my entry 35...

Why are you wasting time and money reading more books by an author who caused you so much pain and loss the first time? Wouldn't you be better off trading your superior methods and ignoring all the vendors you consider to be false gurus and snake oil salesmen? :confused: :confused...

Tommy, The basic PA techniques open a door to profitability, but I encourage you to let the advanced nuanced trading come gradually with time, adding each tactic to your arsenal one at a time with fixed rules, otherwise you may start over-thinking the simple stuff and that is the bread and...

You apparently care very, very much about the traders who visit this site. Since you want to protect them from harm, please do this instead of posting random generic comments about Brooks: If Brooks promotes any particular trading strategies in his book that, if traded every time the setup...