i think he means Xela
How to apply Brooks' PA?
- Thread starter Alfing
- Start date
Ah thanks, cloudy this morning lol will edit
i thought he was a loner
We had an online room with a handful of traders. We used to trade charts and ideas and then Al went off to work on his own stuff and that would likely have been a solitary effort. I hadn't heard from him in awhile and then he me sent proofs of his books dust covers for feedback. We touch base from time to time.
my advice is stop reading any more and use his ideas.
i mean his basic ideas like trading break out pull backs-what he calls failed failures-these have been traded by me and others since i started 25 years ago.the idea is not do get a PhD but to make money.
see the chart you could have gone long near the yellow lines and made 1000 usd each time trading 10 lots
You are good with posting charts. That's great!
Cannot agree more with your post. As one tries to trade, is there a way to get feedback? A group chat? What is out there? I know that trading is intimate and many traders are lone-stars but a community is so important for rookies.
Cannot agree more with your post. As one tries to trade, is there a way to get feedback? A group chat? What is out there? I know that trading is intimate and many traders are lone-stars but a community is so important for rookies.
nice to be able to talk to him.....tell him that i really appreciate his insights....his zeal to help traders.....though i have stopped in following his deeper researched ideas.....the idea is to make money
i do not mind discussing since i do this to keep busy since i am 61 years.
we could talk on telegram pm me if you are interested
read my 'trading is easy' thread... a combo of Brooks and daily news events.
trading is like theoretical physics... you can't prove anything until it's already happened... but if more pieces fit the hypothesis, then it's more likely the hypothesis is true.
that's why you need more pieces (news events).
doing Brooks intraday can be very frustrating, on most days... because the intraday 5 min bars are artificial.. i.e. 3min or 7min bars can easily be interpreted differently... or 5 min bars cut at the 15" mark can look very different.
daily bars have a real open and close... an open that has gathered all the overnight news, and a close that summarizes the day's trading.
trading is like theoretical physics... you can't prove anything until it's already happened... but if more pieces fit the hypothesis, then it's more likely the hypothesis is true.
that's why you need more pieces (news events).
doing Brooks intraday can be very frustrating, on most days... because the intraday 5 min bars are artificial.. i.e. 3min or 7min bars can easily be interpreted differently... or 5 min bars cut at the 15" mark can look very different.
daily bars have a real open and close... an open that has gathered all the overnight news, and a close that summarizes the day's trading.