Weekly, Daily, Hourly charts for me. Plus other intermarket stuff.
Keep up the good work Padu!
easiest money in my life
- Thread starter padutrader
- Start date
Keep up the good work Padu!
that is really the way to go...
keep doing that.
you can browse Brooks for general knowledge but be warned he can screw up your trading mind.
he is good if you want to make 40 trades in a trading session and that too in ES
you can look up Bollinger and Martin Pring.
and EDwards and Maggee
these are more in your ball park than Brooks
Buy Technical Analysis of Stock Trends by Robert D. Edwards and John Magee Book Online at Low Prices in India | Technical Analysis of Stock Trends by Robert D. Edwards and John Magee Reviews & Ratings - Amazon.in
Yes thanks, aware of all those.
Edwards and Magee a bit too Pattern focused for me, without the Psychology behind it.
it all helps .
to develop your customised trading method suited to you.
trading is individual and anyone who see my style will understand this important fact.
that is why i like Brooks... but most do not resonate with him.
brooks has taken a lot of stuff from Edward and Magee and customized it to 5 min...Brooks is also pattern based but he has a healthy dose of psychology and also focuses a lot on what traders do in certain situations.
it is interesting. he will say the bulls will do this and bears will wait..... or a lot of stuff like that.
markets according to him, move because traders make it move.
just a way of seeing the market and make sense out of it's ideocracies
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- visually shows a trend.
so take any bar and buy at low and sell at high......stops below the low and above the high
this gives a good RR.
i am not sure why Brooks had to write 3 books to explain this. Unless his idea was to confuse the hell out of the competition [who is us ]
he certainly confused me out of 20 years and 300,000 usd.
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- visually shows a trend.
so take any bar and buy at low and sell at high......stops below the low and above the high
this gives a good RR.
i am not sure why Brooks had to write 3 books to explain this. Unless his idea was to confuse the hell out of the competition [who is us ]
he certainly confused me out of 20 years and 300,000 usd.
what am i working on......my notes....because after a week end i forget everything and i mean everything.
second entries. second entries are second legs. and so if the leg is weak then the first signal in the opposite direction may well be reversal signal.if it is strong leg then the first signal in the opposite direction may be only a corrective move.
to know how many legs trade signals can be counted.
if you can draw a trend line without any breaks then that means that is a channel and you can probably draw channel line on the opposite side. this channel line need not be parallel to the trend line
channels are flags or corrections.
usually there are 3 pushes in a channel
lows are support high are resistances.
a spike is one leg and channel is the weaker second leg....and a failed breakout of the channel line is usually a reversal signal
if there is corrective move or a minor reversal, will that make the market attractive for the other side to fade the corrective move or the reversal move?
comments to this post will not be replied to since these points are my own refresher
second entries. second entries are second legs. and so if the leg is weak then the first signal in the opposite direction may well be reversal signal.if it is strong leg then the first signal in the opposite direction may be only a corrective move.
to know how many legs trade signals can be counted.
if you can draw a trend line without any breaks then that means that is a channel and you can probably draw channel line on the opposite side. this channel line need not be parallel to the trend line
channels are flags or corrections.
usually there are 3 pushes in a channel
lows are support high are resistances.
a spike is one leg and channel is the weaker second leg....and a failed breakout of the channel line is usually a reversal signal
if there is corrective move or a minor reversal, will that make the market attractive for the other side to fade the corrective move or the reversal move?
comments to this post will not be replied to since these points are my own refresher
what am i working on......my notes....because after a week end i forget everything and i mean everything.
second entries. second entries are second legs. and so if the leg is weak then the first signal in the opposite direction may well be reversal signal.if it is strong leg then the first signal in the opposite direction may be only a corrective move.
to know how many legs trade signals can be counted.
if you can draw a trend line without any breaks then that means that is a channel and you can probably draw channel line on the opposite side. this channel line need not be parallel to the trend line
channels are flags or corrections.
usually there are 3 pushes in a channel
lows are support high are resistances.
a spike is one leg and channel is the weaker second leg....and a failed breakout of the channel line is usually a reversal signal.
remember to find inside bars IF THERE IS A STRONG TREND
if there is corrective move or a minor reversal, will that make the market attractive for the other side to fade the corrective move or the reversal move?
comments to this post will not be replied to since these points are my own refresher
second entries. second entries are second legs. and so if the leg is weak then the first signal in the opposite direction may well be reversal signal.if it is strong leg then the first signal in the opposite direction may be only a corrective move.
to know how many legs trade signals can be counted.
if you can draw a trend line without any breaks then that means that is a channel and you can probably draw channel line on the opposite side. this channel line need not be parallel to the trend line
channels are flags or corrections.
usually there are 3 pushes in a channel
lows are support high are resistances.
a spike is one leg and channel is the weaker second leg....and a failed breakout of the channel line is usually a reversal signal.
remember to find inside bars IF THERE IS A STRONG TREND
if there is corrective move or a minor reversal, will that make the market attractive for the other side to fade the corrective move or the reversal move?
comments to this post will not be replied to since these points are my own refresher