i am talking about the low of the previous bar already completed.
a one bar move IS A TREND? in all or any time frame.
that one bar can be 10 year bar...hardly minimalist
that is basically a second signal.
what Brooks says is: buy the dip after the strength when there is good reversal setup.
he stresses you need both : good reversal pattern and strong countertrend strength.... to go counter trend
the set up is essentially so that you know where to place the...
one of the things i have really learned from Brooks and he says:NEVER EVER trade countertrend before there is considerable countertrend strength.
and even when that is there wait till there is test of low /high and you get a good reversal set up. you need both counter trend strength and a set...
RR is not the only thing..... win rate is important too and i dare say the win rate, when RISK REWARD is high, is very low.... Brooks says that in many places, i think ,if i understood correctly, which is difficult where Brooks is concerned
they are interested in protecting bastards like themselves.
but what i have written is basic stuff...it is the beginning for a novice. not the end
you are right shakeouts are very real but it does not happen as often as people think.
because to push markets down there is a cost and risk for...
knowledge is available cheap; but not understanding.
take what everyone is told 'buy low sell high'
this is not wrong but as usual the whole story is not told.
the correct way for a trader is buy lowIN THE TREND and sell highIN THE TREND
so what is the trend? a bar -whatever time frame-...
knowledge is available cheap; but not understanding.
take what everyone is told 'buy low sell high'
this is not wrong but as usual the whole story is not told.
the correct way for a trader is buy lowIN THE TREND and sell highIN THE TREND
so what is the trend? a bar -whatever time frame-...
the way Brooks explains it yes.
but not if it is explained this way:
take what everyone is told 'buy low sell high'
this is not wrong but as usual the whole story is not told.
the correct way for a trader is buy low IN THE TREND and sell high IN THE TREND
so what is the trend? a bar...
knowledge is available cheap; but not understanding.
take what everyone is told 'buy low sell high'
this is not wrong but as usual the whole story is not told.
the correct way for a trader is buy low IN THE TREND and sell high IN THE TREND
so what is the trend? a bar -whatever time frame-...