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There are many different styles of scalping. You can find definitions of these methods all over the web. There isn't "one definition". Comparing the name of a candlestick chart (which is pretty much the same thing between all traders) to the various methods people use to "scalp" (literally...

Al Brooks does not define scalping in the same way you are. Al Brooks defines scalping as a high probability trade that isn't held through a pullback. This definition is consistent with his extensive use of the trader's equation as an underlying principle of his trading method (in other words...

Not only are you a liar, you also have no clue what I'm talking about. "Higher time frame contextual awareness"? When did I mention that? I'm talking about the same time frame in which you are going to be placing trades, such as the 5 minute chart. Read my previous post again. I gave you an...

Just because you are a failure at understanding price action doesn't mean that Al Brooks is a fraud. I and others that I know have become better and better every day by learning principles from Al Brooks' books and video course and putting into practice what they have learned. In fact, I have...

I think I can do much better with a trading the daily chart with forex, rather than get beaten around by the intraday noise, which is why I have been spending the past week or so analyzing the daily charts and keeping extensive documentation on my studies. I have even placed a couple of trades...

I didn't switch instruments (staying with Forex). I understand your point about the time frame switch, however. But honestly, after thinking this over for more than a couple of weeks, I have come to the following conclusions: 1) Intraday forex trading is NOT for me. The same patterns that...

I'm in the USA. I guess that makes CFDs out of the question for me. :/ I'd like to run my analysis on the daily charts and go for swings. At least, that is what I will practice doing from now on. Basically I will be doing very similar to what I was TRYING to do on the 5 min chart with very...

I'm not sure I understand what you mean. Can you elaborate? What do you mean by proxies to the SP500? Thanks.

I have taken your advice, and have stopped trading forex with intraday charts. The lack of predictability is highly apparent on the forex charts compared to, for example, the E-mini SP500 or high volume ETFs like SPY. I am studying the daily charts, and have made an excel spreadsheet for all...

These aren't only with-trend setups - understanding price action can allow one to see setups in various market conditions. Also, you don't have to just look at the 5 minute chart - other higher time frame charts can be used to get an overall picture of the market condition, if necessary. But I...

I have no doubt that there are people that make a ton of money trading with price action principles on the 5 minute chart with forex and futures and stocks. I'm not really concerned with the question "can money be made?" I'll find that out for myself in the long run, but for now I have a great...

Hi everyone, I am currently in the process of applying what I have learned (and am still learning) from Al Brooks' price action books/videos. I created a journal at brookspriceaction.com originally last week, but I think it'll be well worth it to continue here instead of there, since the...

That makes a lot of sense. Thanks!

Thanks, I will definitely finish his material and apply it.

Thanks for the info, Jason. I may just stick with equities for now, and look into forex later. FXCM will definitely be a broker I will look into if I decide to get into currency trading. Thanks to you too, synthetic.

I have a science/medical background, so I should be used to this kind of dense and convoluted style of writing... The books read like a physiology course syllabus in medical school - super dense, with a lot of repeated readings required to grasp the material. But once you get it, you "get it"...

Hmm, to me it seems that it was just a really bad way to explain the chart rather than just a typo. Are there a lot of similar situations throughout his books? I plan on reading through all of them and take notes as I go along. From reading some of your posts, NoDoji, I get the impression...

Thanks for your help, wrbtrader.

Well, what he's saying about the AB=CD and Elliott Wave stuff, I understand. I think he makes sense there about his explanation about the terminologies of the waves and pullbacks. However, I didn't understand how he goes on to explain that chart the way he does... But actually, I think I now...

Sorry about that. Attached is the pic of what I'm talking about.