I have bought Al Brooks' Trading Course

V true. This is precisely why i don't understand those who operate from a 5 second bar chart lol.
The fact of the matter is, every person is different - one person can look at a 5 sec chart and enter a trade in the right direction at or near a recent low/high..while another person will look at the same chart and do the exact opposite!
Who will make money on the trade, and more importantly, why?
J_S
 
No disrespect to Mr Brooks, as i don't know the man personaly, but after many years of winning and losing - having bought and tried a god few "courses" years ago - the conclusion I have come to is,

Trading is as simple as ABC - but - the majority will take it to XYZ!

When you get to the stage where you really understand what this means, then I think you will agree with me 100% and kick yourself in the ass for wasting so many years and so much money!

A fool learns from his own mistakes - A wise man learns from the mistakes of fools!

J_S
 
JUST AN OBSERVATION FROM AN OLD TRADER:

i beg all you learned trading gurus and wizards and wannabes and those in between:

inasmuch as i presumed myself to be, perhaps, rightly or wrongly, the longest living small private trader around here (bought 1,000 shares of intel for about 120 usd, and ef hutton brokers told me that it would not be a good investment and that i could do much better
doing what ef hutton said....; now you can pretty much guess my chronological age, oldest maybe ?);

and taken into considerations, all your wonderful insights into arriving at the level of consistent profitability which involve your very own or others' numerous ideas, proposals, setups and endless who said what, who wrote what and which gurus did what....

but most importantly, lacking what you, yourself personally have done, did or do.... toward your very own trading profitably and consistently.... (no finger pointing, nor blaming here, K?);

come on now, my trading comrades, consider all those 405 entries here....

how many entries have really helped you or guided you or sheded light upon you.... toward becoming a more.... consistently profitable trader.....?

let's come to our own senses, my comrades.... and rather quickly as well....

do whatever pleases you, inspires you, enriches you and levitates you....
toward whatever trading dimensions you personally aspire to become ultimately....

as for me, for the time being, am taking my girl friends, harley and davidson heading toward krabi and talay trang for the weekend.... wanna join us, comrades?


SHOULD OR SHOULDN'T EXIT HERE ?

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Should def exit on 3rd chart, but I would imagine your stop was moved automatically to keep the dollar sign green as the charts progressed - if not you have a bit of explaining to do :)
For an oldtimer you are very good at coloring, but the main color is right, and that is all that matters - nice trade.
J_S
 
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JUST AN OBSERVATION FROM AN OLD TRADER:

i beg all you learned trading gurus and wizards and wannabes and those in between:

inasmuch as i presumed myself to be, perhaps, rightly or wrongly, the longest living small private trader around here (bought 1,000 shares of intel for about 120 usd, and ef hutton brokers told me that it would not be a good investment and that i could do much better
doing what ef hutton said....; now you can pretty much guess my chronological age, oldest maybe ?);

and taken into considerations, all your wonderful insights into arriving at the level of consistent profitability which involve your very own or others' numerous ideas, proposals, setups and endless who said what, who wrote what and which gurus did what....

but most importantly, lacking what you, yourself personally have done, did or do.... toward your very own trading profitably and consistently.... (no finger pointing, nor blaming here, K?);

come on now, my trading comrades, consider all those 405 entries here....

how many entries have really helped you or guided you or sheded light upon you.... toward becoming a more.... consistently profitable trader.....?

let's come to our own senses, my comrades.... and rather quickly as well....

do whatever pleases you, inspires you, enriches you and levitates you....
toward whatever trading dimensions you personally aspire to become ultimately....

as for me, for the time being, am taking my girl friends, harley and davidson heading toward krabi and talay trang for the weekend.... wanna join us, comrades?


SHOULD OR SHOULDN'T EXIT HERE ?

View attachment 156962 View attachment 156963 View attachment 156964


NT, I don't think I ever "followed" anyone, but I have clicked on your name, and for others, here is the reason why - as I think it is important!

Not because you posted a nice color picture :)
Not because you posted a trade showing a profit - actually, I prefer to see losing trades!
Not because you ride a harley and probably have a big long beard:)

I decided to follow us as you stated you are an old timer, and I truly believe you can always learn something of value from a person older than you - there is no substitute for real experience, and as i said previously - btw, I am not young myself, but not as old as you I think :)

A fool learns from his own mistakes - A wise man learns from a fools mistakes

I believe that you were once a fool :)

J_S
 
No disrespect to Mr Brooks, as i don't know the man personaly, but after many years of winning and losing - having bought and tried a god few "courses" years ago - the conclusion I have come to is,

Trading is as simple as ABC - but - the majority will take it to XYZ!

When you get to the stage where you really understand what this means, then I think you will agree with me 100% and kick yourself in the ass for wasting so many years and so much money!

A fool learns from his own mistakes - A wise man learns from the mistakes of fools!

J_S


Fine. Please simplify trading for us and i will be happy to kick you in the ass. :D
 
Fine. Please simplify trading for us and i will be happy to kick you in the ass. :D
What if I show you something simple that can make you money and you can not make use of what I show you - what does that say about me, and more importantly, about you?
J_S
 
What if I show you something simple that can make you money and you can not make use of what I show you

If you can simplify your English so that is understandable, now that would be the first thing to do. :D

I think you are saying that you could show me something simple to make me money, but i will not be able to make use of it...is that correct?
 
You, like other 'price action' traders talk a lot about breaking your rules. I recognize myself here.

IMO, this is what happens when you're using a subjective methodology or perhaps don't even really have a methodology other than interpreting charts. You're just shooting from the hips. A lot of people bash indicators and it seems like these price action guys take a lot of pride in not using one, i.e., "Oh, I only use a naked chart. PURE price action, baby." I don't agree with this.

What an indicator can do is add clarity and objectivity. What if your method was as simple as buying or selling whenever you got a VERY clearly defined signal? Such as a moving average cross-over system?

Would you be entering when the averages are a mile apart or would you simply wait for your signals to align and then execute? Especially if it's proven to be profitable through rigorous backtesting and forward-testing? I'd wager to say you'd see yourself breaking your 'rules' a lot less.

I'm talking to another guy who had a very basic system to keep himself out of trouble. I don't recall exactly what it was, but he used the open price as input and I believe he would only go long below the open or short below the open. He had done a lot of study on the opening period. It wasn't as simple as this, but the main idea was that he had an objective way to look at what was happening and he had clear criteria for where he could enter. A system.

I'm not saying the solution is in indicators or moving crossovers, but IMO, you need a system that is as objective as that. It gives you clear buy and sell signals that are NOT subject to interpretation.

There is no reason I shouldn't be able to succeed on the short term plays if I can on the long term. I think it's just easier to break rules short term trading because I'm take so many more plays (which means more opportunity to break rules, though I'm trying to view it as more opportunities to not break rules.)

Actually, there are plenty of reasons if you don't have a proven methodology. : )

But yes, the main reason is that the margin-of-error is considerably lower compared to higher time frames and price is MOVING and often FAST. What you need is a good system that is worked out through rigorous backtesting, forward testing and so on. When the market opens you simply execute it according to a plan. There's no thinking. No interpretation. You just execute whenever you get a signal. Your thinking was done PRIOR to the market opening.

The reason larger time frames is easier for most is because you have the time to calmly think through your decision. You're not pressured in the same way as with day trading.

LF, as VA has put it up to me, here is a section of what can be used to extract money from the market - show it to your friend as I think he might be interested?

I am obviously not going to show too much as I am not charging any money, but if anyone makes money from what I show then please feel free to PM me and I will gladly accept a voucher (or bank transfer :) ) to buy myself a new pair of trousers, car, house, or even a small jet - depends on how well you understand simplicity and how much money you have to trade with!

What this is not.

It is not a standard chart.
It is not a futures contract.
It is not a complex combination of several instruments.

What this is.

It is a bar chart - a section of a layout for assisting with decision making as to when to buy/sell and when to sell/buy, with a pre-defined stop loss level in case it does not work out, which of course will happen some of the time, but not all of the time :)

It is a stock symbol - go figure as it is very easy!

It is as simple as it gets.

J_S

Oh yeh - I will accept a harley as well as I might take NT up on his offer :)

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