Yup..., once I shared it was possible - she figured it out
Learn to manage each losing trade - and take each valid signal - the day's PNL will take care of itself
No need..., but then one need to know how to trade to understand why not
RN
I have bought Al Brooks' Trading Course
- Thread starter Visaria
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Yup..., once I shared it was possible - she figured it out
Learn to manage each losing trade - and take each valid signal - the day's PNL will take care of itself
No need..., but then one need to know how to trade to understand why not
RN
That's when I would have, as well, but I would have added in, hopefully getting filled at the low of the bear signal with a limit after the close of the actual entry. The following shakeout bar would have filled my limit and then became my new stop after it closed and I would be 2/3 full size. I most likely would have shorted my final 3rd below that bar with that signal high still being my stop. My first target would have been just above the PP that occurred after the TLB (3rd bear bar bottoming tail). I would have taken profit from my first entry at that level.
I would have played the entire play differently if I had not been filled with a limit at the BE of the big bar where you did. Most likely market at the bear entry after, with a stop above the bull bar, and possibly exit during that big shakeout. I would have had 2/3 or maybe full size had I entered that way. That is the beauty of getting limit fills like you did (and I occasionally do, as I did in my earlier example). It gives you a little room to work with, and of course, if you add in and end up stopped out at a lower price than that original entry, a smaller loss, or at least a tiny profit or BE.
All out of Brooks. He didn't invent it, but he's helped me understand it.
He has mentioned prior day HL as areas of interest, but his entire premise in bar by bar is OHLC of every bar. Just apply it to the daily charts. His newer books are extremely detailed in ways his first is not.
That's interesting. considering Brooks mentions trading off the 5-minute bars with up to or exceeding 1000 contracts in his books, once you "get your trading good enough" or something to that effect.
Brooks does mention that most traders will never make money, at least he states that in the newer books. Having stated that, and offering money back, where is the issue? He also states that if you want to trade for a hobby, find another hobby. He's basically saying you're probably going to fail. Why would he tell you that if he's trying to game you?
I haven't seen some of the youtube videos and some other events people here have talked about. All I can say is, he indicates after his first articles were published by Futures, he was besieged with E mails about his approach (it might have been after his first book...I don't remember, but in his new books, he tells why he decided to do it). I never got the feeling he was trying to pull one over. Just the sheer amount of work that had to go into those books, and hours doing so, why the hell shouldn't he charge?
Sure, others have written about the same stuff, but not in the same way. How long does it take someone to learn to trade with NO education (the few that succeed, that is)? Serious question for anyone.
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