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I hadn't seen this when I posted my post above, but that's kind of what I was getting at with my post about varying market conditions. When you're low on the learning curve, it takes a long time to come up with a working trading plan that you can trust... so naturally you're going to be very...

So, how do Al Brooks traders do across varying market conditions? For example, I've been working on coming up with a trading plan for day trading index futures. I know what I'm trying to exploit, and coming up with a complete plan for it is very difficult, but I seem to be on the right track...

Do you exit your trades at a predefined profit level based on MFE of past trades, or do you exit by your own personal read of price action? Just curious as that's something I'm struggling with at the moment.

2 tick stops? Interesting, I only turned profitable when I stopped trying to be so precise with my entries. I modified my trade management strategy to accomodate the fact that I can't call the starts and ends of price swings. Though the leverage of futures requires a high degree of...

Agreed. The leverage is the reason why I'm not yet trading futures with real money, despite the fact that I'm turning profits swing trading ETFs in my unleveraged stock account. It seems leverage really raises the bar tremendously when it comes to the skill and precision required to...

Yes, worldway does make a good point. Psyhcologically you want to avoid drawdown, but you need it if you want to get a larger position on with this method. On the hedging aspect I was wondering if it might be better to reduce the size of the hedge as your position goes farther into drawdown...

Yeah, when I first got into this a few years ago I had the same aspirations as the topic starter.... lol. But in reality nothing is as sexy and glamorous in real life as movies and magazines portray it. One of my college friends is a doctor now, and his job is not glamorous at all. Not that...

I used to sit in on some of his free chats on TOS, never got much out of it though. 5-6 lower indicators, plus 5 or so moving avgs, auto fib lines all over the place, bollinger bands with arrows, etc. It was indicator overkill imo. To each his own but I can't see how anyone can trade like that...

Yeah, I thought of that too. This method is very well-suited to an uptrending market like the one we've been in for the last 3 years, it basically can't lose. It will be interesting to see how it performs whenever the next bear market comes along. I guess the safeguards for bear markets are...

Since there are some traders who are successful using Al Brooks methods, why don't those who have questions ask them here? Or at least show why you say the methods don't work. The best way to prove a method is BS is to actually show how you tested it and tried to trade it. Then the Al...

I guess I ask because I've never had any success trading off the chart of a single instrument. I have to look at other stuff to assess the weight of the evidence, so to speak, in order to ever come to a conclusion that I have a greater than 50% chance of success. And even then it's still...

Do you guys believe there is any edge in Al Brooks type price action setups? I mean just a price chart with a 20 ma. I'm not questioning whether or not any Al Brooks followers can trade profitably. I'm questioning whether their profitability has anything to do with his setups, or if it's due...

Some funny Chris Rock videos on relationships/marriage... :D http://www.youtube.com/watch?v=M902ZJHzaLE http://www.youtube.com/watch?v=lPesKyIhGZg http://www.youtube.com/watch?v=s6X0Qqxx3f0

Supposedly TDA is planning to clear futures transactions in the future. I say supposedly because they haven't given any timeline as to when that will happen, so who knows... I emailed them last week to check and see if Penson or TDA was holding the funds for futures accounts. The response was:

Is that the Jelly webinars? If so, that's disappointing to hear, but then again that's what all his blog posts are like. I've always wondered why there are no current or former students talking about their experiences with his teachings. Those who bought the webinars, and especially...

Maybe you can predict better than you think. I haven't counted but it seems like you had a lot more wins than losses in your day trading. I've never tried to do this (not comfortable holding 9 contracts) but I bet it could be pretty easy to start drawing fib lines in the wrong direction and...

Does your projection still stand? Looks like a test of the broken trendline may be coming.... If there's an FTT, this kind of trading will at least still be viable. I don't know about day trading though.... I have a friend who's helping me learn the ropes, he's a swing trader. I...

S I was reading the earlier post where you corrected Carpet Cleaner's trade idea. http://www.elitetrader.com/vb/attachment.php?s=&postid=3292250 You said not to short that because there was no second "histo hump". But on this pic you posted it looks pretty much the same. Based...

Another question about ACD that I haven't found the answer to... When it says the market should trade above the OR and stay above it for half the OR time, I'm hoping for some clarification on that. What do you do if price breaks back into the OR briefly and then rises back above it? For...

Here are some examples. Doesn't seem to be very active anymore but you can get the idea from these posts: http://theopeningrange.blogspot.com/2010/11/opening-range-analysis.html http://theopeningrange.blogspot.com/2011/01/this-is-what-i-look-for.html...