30 yrears of ...?
i have zero years of profitable day trading and 15 years of profitable position futures trading.. gtaht was in a bull market
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3 phrases of trends: which is low-risk & high-rewards?
- Thread starter ninZa.co
- Start date
i have zero years of profitable day trading and 15 years of profitable position futures trading.. gtaht was in a bull market
it is not about batting.
it is counting how many early entries would have got stopped out.
i can count up to 4.
if not i would have done it for you
look at trend closely
observation helps more than analysis
observation helps more than analysis
@padutrader,
Congratulation on 15 years of profitable position future trading. I am glad to hear that.
You are too humble to attribute that to a bull market.
Let me be clear, I am not trying to shoot down yours or Dr Brooks' methodology. I know there are those who used it successfully.
Your coaching on Brooks' method is very commendable and I am thankful. However, I don't use Brooks, nor do I use indicators to trade.
Full disclosure: I am a newbie day trader.
Cheers.
you and SML intrigue me.
both of you say you do not use anything.
i am not sure if Brooks adds any value to technical analysis.... but he does try to form some sort of system or check list.
brooks uses basic chart structure and TA.
i think most coaches use some part of TA.
indicators are a restrictive way to look at market.
eyes are a more powerful way to compare situations.
talking about only risk and reward without probability [win rate] is deceptive.
you are trying to get something for free and there is no free lunch on any planet.
low risk and high reward you are searching for and what is the probability of you finding that situation.
and why would you want that anyway?
why not high risk and low reward which translates to a higher probability?
you are trying to get something for free and there is no free lunch on any planet.
low risk and high reward you are searching for and what is the probability of you finding that situation.
and why would you want that anyway?
why not high risk and low reward which translates to a higher probability?
You are a successful position trader so I don't need to tell you what success looks like.
What I have been trying to say is there are many ways to day trade successfully. You shouldn't have to marry to a system. Some traders can successfully use Brooks, some, like me could not. Believe me, I tried.
Instead of beating my head against the brick wall getting bloody, I decided to look elsewhere and found a method that I am comfortable with. Is it sustainable? I don't know yet but at least I am profitable to date.
Can you trade my way successfully? Not likely because as @SimpleMeLike said, it is my "eye". If you read Schwager, you won't find two wizards that traded the same way.
Each of us has to find a system that fits us and no one else.
Cheers.