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You're leaving something important out. Richard Dennis' system no longer works. One needs to learn a system, but to learn trading at the same time.

This thread started 20 years ago, why do I feel like you've been here since day one?

Is there a rule for re-evaluating rules?

Sounds like we're in a very similar place. My background not in finance. I also started trading part-time in 2020 but haven't found consistency yet. I also think I know exactly what you mean by "fighting at the borders" of your system. Although I've built a pretty detailed system, I still find...

Ask a straightforward question here and you're guaranteed to get 7 cryptic non-sequitur responses in a row that make you wonder if the person didn't even read your initial post or if they're just a poorly programmed chat bot. Get used to it. I'm focused at the moment on getting better at...

Hey Easymon, you got a pdf of that chapter by any chance? I'd like to take a look at it to see if the book is worth buying or not.

I'm sorry but this smart money stuff is totally vapid. It's just the classic concepts thinly repackaged with a silly lingo to make it sound new.

Such as? I'm always looking for new trading books to read. What's your top 5 or 10?

This is probably the best reply I've ever gotten on here, thanks! Also the bar by bar joke got me good.

It was in a recent podcast episode of "Trading Nut" where Brooks came up and he talked about his admiration for his methods.

Here let me save you hundreds of dollars. Just buy the Reading Price Charts one. It's almost clear and distills what the other 3 pretend to do in more depth.

Yes and no, Hougaard advocates a 20/80 focus (20% on technical analysis, 80% on mindset/psychology). Longer I trade, more I come around to thinking he's dead right. Hougaard also swears by Al Brooks' method of TA, think they've even done some seminars together as well.

I'll give you one thing: that's certainly less cryptic than Al Brooks! But still cryptic. So let me try to cobble together what I glean from him and from you. The basic definition of a High 1 is a candle that closes above the prior candle during a pullback. High 2 would be if it happens twice...

I love these sagging top setups, added confirmation

I've been re-reading Al Brooks over the weekend. Can someone explain to me the point of his High1 High2 system in plainer English than he seems capable of?

That makes sense now, I'll start keeping an eye out for that 50% level specifically.

Glad I read this, thanks again for passing it along. It directly rejects the idea that price at the open above/below PP can be used directionally. That will definitely force me to be extra rigorous with my backtest, but I think I've found a way the idea can be workable.

Backtest I'm doing at the moment, the results are very good but the idea is so cavalier I'm not believing my eyes, so I'm thinking about it testing it out at baby size next week or two to see if it could actually work. First I'm hearing of rolling 50% level, what does that entail?

Nice, I have the Carter, read it when I was still a total newbie, so most of it was over my head, I'll go back and reread those sections.

This has been on my to-read list for awhile, thanks for reminding me to check it out! I also use initial balance and I hear it's great for that as well, ordering ASAP.