Be specific about your question or point and I'll respond. I am really not sure what you mean.
surf
I am sick of these fake mentors
- Thread starter marketsurfer
- Start date
Be specific about your question or point and I'll respond. I am really not sure what you mean.
surf
i would be the worst teacher. I have mild tourettes and get through several monitors a year.
Well, fair play to you, and if you show that you know what you are talking about then I will say so and compliment you.
I am new to the market and never traded before. My first question for you is as follows.
Q1
I want to make money trading, so what am i going to do with my money and how are you going to show me how I will not lose too much of it?
Test it for a day/week/month/year, each and every day/week/month.year, and I bet you will think differently!
Understand why and then you will realize why ALL systems are never going to be foolproof.
Are there better approaches than others - of course there are, and finding the best one that suits YOU is what the goal should be, not wasting time looking at everything that is put out by the so called "those in the know".
Trading is as simple as ABC, for the minority - but the majority take it to XYZ, and then wonder why they fail!
Can a mentor help, probably, but only if the person seeking help is able to fully understand what the first 3 letters of the alphabet really mean!
A mentor can never show you what the market will show you, so best to get to know the market I would say, but then again, who am I - the only thing I really know is that I really know nothing!
J_S
Thanks for advice. It's something he mentioned off hand in a video. I found it intriguing. Tested it out (went back years). Pretty good. Logical too. One of those 'why didn't i think of that' type moments.
Thanks to Q3d for putting Brooks on my radar. I think he's genuine btw, certainly not a charlatan .
I don't agree with everything on his site though. For example, he says something about the other side of your trade is an institution. The institution is not going to give you an edge or something. This is of course bollocks...the other counterparty could be an individual and/or trading a different time period to you, have different objectives, could be hedging etc. It's like he described a trade as a sports bet you made with a bookie..either you win or you lose, but the edge remains with the bookie.
Nevertheless, his bar analysis course might be worth while even for non-noise traders like myself (i lean toward fundamental analysis in my trading). I'm definitely considering it. For most on here who enjoy trading noise (i've seen someone post a 15 second bar chart here for analysis and there are those who consider a target of 1 ES point a worthy goal in life lol), he's definitely your man.
There is nothing wrong with 1 ES point profit anytime - a winning trade is always better than a losing trade.
Wider Timeframe = Wider Stop
Wider Stop = More Risk
More Risk = More Profit or More Loss
If you look at level 2 or booktrader for ES, how many points do think most of those big size trades are looking for - 20 points!!!
30 x ES trades for 1 point target.
10 losers and 20 winners = 10 winners
10 winners = 10 points
Duration = 09:30 > 10:00
Hourly Rate = let you work it out
BTW, I am not saying this is the best way in relation to risk, as it is sometimes possible to risk 1 > 2 points to gain 3 > 5 points, as some other traders do.
I do not think Mr Brooks words will enlighten anyone in relation to the above targets, but if you care to prove me otherwise then please feel free to do so - his material is not part of my collection, nor have I any plans to make it so.
In fact, most of his stuff as per below is just more of the same old story - you will not find the real "useful" information in any book, for if you did it would not be useful any more - there is one exception however, and within this book, if you are clever enough, you will be able to pick out the best of the 7 and know why it is so useful for trading any instrument in any market!
Do remember though, that, the only thing I really know is that I really know nothing
J_S
enjoy!
www.amazon.com/Chart-Patterns-That-Consistently-Money/dp/1883272610/ref=sr_1_1?s=books&ie=UTF8&qid=1441745031&sr=1-1&keywords=seven+chart+patterns+that+consistently+make+money
Compare the page count, ignore the 6 that don't matter, and you have a very simple book - so simple it is of course overlooked by most, as most think more is better, which of course is the worse thing you can do if trading!
Wider Timeframe = Wider Stop
Wider Stop = More Risk
More Risk = More Profit or More Loss
If you look at level 2 or booktrader for ES, how many points do think most of those big size trades are looking for - 20 points!!!
30 x ES trades for 1 point target.
10 losers and 20 winners = 10 winners
10 winners = 10 points
Duration = 09:30 > 10:00
Hourly Rate = let you work it out
BTW, I am not saying this is the best way in relation to risk, as it is sometimes possible to risk 1 > 2 points to gain 3 > 5 points, as some other traders do.
I do not think Mr Brooks words will enlighten anyone in relation to the above targets, but if you care to prove me otherwise then please feel free to do so - his material is not part of my collection, nor have I any plans to make it so.
In fact, most of his stuff as per below is just more of the same old story - you will not find the real "useful" information in any book, for if you did it would not be useful any more - there is one exception however, and within this book, if you are clever enough, you will be able to pick out the best of the 7 and know why it is so useful for trading any instrument in any market!
Do remember though, that, the only thing I really know is that I really know nothing
J_S
enjoy!
www.amazon.com/Chart-Patterns-That-Consistently-Money/dp/1883272610/ref=sr_1_1?s=books&ie=UTF8&qid=1441745031&sr=1-1&keywords=seven+chart+patterns+that+consistently+make+money
Compare the page count, ignore the 6 that don't matter, and you have a very simple book - so simple it is of course overlooked by most, as most think more is better, which of course is the worse thing you can do if trading!
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i knew it would eventually come back to me
www.remembercorey.com
No disrespect to the man who was unfortunately killed in a car crash, but if you look at who complied the site then it will back up what I was saying about Mr Hawaii - I never kept a copy of the page when I saw it, but as far as my memory serves me it was around $380K income per year from marketing the daytrading course - this was back around 2004, so what the current figure is I have no idea, nor do I care one little bit!
What made me mad was the way Mr Hawaii treated those who joined his so called "professional" trading room - not allowing people talk to each other - the proverbial "mushroom syndrome" approach.
Anyway, just beware of any person claiming that they can "show" you how to make money trading - I have gone thru a lot of them over the years, and in the end, after many years of winning and losing, guess who eventually showed me the best way to do it
J_S
www.remembercorey.com
No disrespect to the man who was unfortunately killed in a car crash, but if you look at who complied the site then it will back up what I was saying about Mr Hawaii - I never kept a copy of the page when I saw it, but as far as my memory serves me it was around $380K income per year from marketing the daytrading course - this was back around 2004, so what the current figure is I have no idea, nor do I care one little bit!
What made me mad was the way Mr Hawaii treated those who joined his so called "professional" trading room - not allowing people talk to each other - the proverbial "mushroom syndrome" approach.
Anyway, just beware of any person claiming that they can "show" you how to make money trading - I have gone thru a lot of them over the years, and in the end, after many years of winning and losing, guess who eventually showed me the best way to do it
J_S