Yes, I know. I was just enjoying a moment of irony there. In any event, I wish you folks the best of luck.
How to apply Brooks' PA?
- Thread starter Alfing
- Start date
Curious about your learning approach. What helps you to learn? Lot's of practice?
Your sentiment is valid, mentorship accesses deeper levels of understanding. Any argument in this domain are for those who do not understand the concept of paying it forward amidst their scarcity mentality.
Arguments have an emotional payoff to those who participate. In contrast, an argument is not possible when one of the potential participants has nothing to prove and accepts disagreement with grace.
Perspective is everything.
Despite cherry-picked evidence to the contrary, human-beings are social creatures and thrive in supportive social environments. It's a bit difficult to see that in this highly competitive domain of short-term trading but it does exist.
Vendors operating in good faith offer tremendous value.
Vendors operating in bad faith offer one the value of exercising and strengthening one's discernment.
If one is more window shopping, the ET archives has many high quality contributors whom posted their perspectives and/or methodology for free.
I had the good fortune years ago to be part of an online chat with some veteran and generous traders from whom I received ideas. I also read many books, attended seminars and expo's. However the real education came from many many hours of real time with charts observing price development and testing those observations to arrive at a viable trade plan. Again, if you succeed as a trader and the odds are against you, you will have to walk your own path. We broke up the room because we became good friends who liked and respected each other and distractions, as friendly and pleasant as they might be were costing each of us trades and therefore money.
Almost a year ago, a fellow asked me a couple of questions related to some comments I made at the time and it has evolved into more than 300 pages of PM with hundreds of questions and many charts. I don't regret the thing as he is a good smart guy who has worked hard and shown good progress. He did not asked to be mentored nor did I offer but except for a family member or close friend, I would not repeat it....it's simply too demanding for a full time trader with also a life outside of trading
No doubt, boundaries have to be drawn.
I don't day trade... there are more 'pieces' you can use on the daily chart... right now there are no thoughts
.... the market move is in sync with what unfolded since the Feb shake down.
What 'pieces' have you found especially helpful?
if you are using 5 min charts you will get 5 min movements .....Brooks felt you get a lot more trading opportunities with 5 min and he is right:but with each trade there is considerable emotional and intellectual energy to be committed expended and if you do 20 trades in 4 hours ...well you do the math.
Brooks loved this atmosphere and environment [ he referred it to as a challenge ] but many traders want-and perhaps rightly so- easier money.
if you love puzzles then Brooks PA is perfect for you.
Before you venture on the road that Brooks has traveled you had better understand all this.
otherwise you will not like the destination that the road and you eventually will reach
Brooks loved this atmosphere and environment [ he referred it to as a challenge ] but many traders want-and perhaps rightly so- easier money.
if you love puzzles then Brooks PA is perfect for you.
Before you venture on the road that Brooks has traveled you had better understand all this.
otherwise you will not like the destination that the road and you eventually will reach
i just love your description
no one has ever described Brooks more perfectly in two lines.
His zeal for analysis of markets with it's myriad distortions is unmatched by anyone i have seen in my 25 years of study of technical analysis and it is something that draws me to him continuously again and again, even though many times i had rejected his teachings