Is there someone who can explain Al Brook's H1 and H2 for me
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Quote from tobbe:
NoDoji (and a few others):
http://www.elitetrader.com/vb/showthread.php?s=&threadid=220303&perpage=40&pagenumber=1
It's the only thread you need.[/QUOTE
I have studied "a simple price action approach" for almost a month. My best learning came from charts posted by Dv for the purpose of group analysi
s of his trades. Yet when I post a chart of one of my trades for advice on what I did right/what I did wrong, I invariably get a discouraging, unhelpful comment from one of the usual suspects. Such as, you need to learn to trade on your own. I really got a lot out of those critiques of Dv's charts.
I don't think there is any doubt that I am on my way to being profitable. I feel so confident that I actually went out and bought a new lap top on credit to replace my old Pentium 4 because I know I can make the money to pay if off. I also decided to get a new HDTV to compliment my new lap top so I can look at charts on a 32 in screen. My sister has been making fun of me for years about my 13 inch tube TV. She calls it my black and white, although it is color.
I don't have time for TV. Time spent watching TV is time I could have been studying charts, although I will occasionally watch a rerun of Law and Order to relax. I suspect it was the same with you when you were learning everything you could so you could change your life and become a trader instead of an employee. I am going to go ahead and take the plunge and purchase Bar by Bar. Comments I have been reading about the book on Amazon suggests that you can spent an hour just reading two pages. But if the knowledge is there, I will sift it out. You mentioned that I know how to get a hold of you. I don't think that I do. I only am aware of your private message account on ET, which is currently not accepting messages. I am not the bothersome type. But it would be nice to talk to my unofficial mentor from time to time via email.
Well, if your trading can pay for your 32'' screen, surely it can pay for the book.
The problem that I have with the book is that there is too much of information. And though it is tough to read but it is still better than the 3 books that he later put out. What I have experienced is that the day's movements are easily explained by the concepts of the books. Problem is how to use it in real time trading. So you will see a lot of H1, H2s, Wedge reversals fail etc etc and you keep jumping around. And though I have read it up many times, I am still not making money.
Also, with regard to testing of concepts, unlike Nodoji, I fail miserably at that as there are too many variables. It is not x or y so therefore z. Gets to be too subjective for me but at the same time, I can't trade mechanically. Still, I have a strong feeling that the key is in me and Brooks is the way to go.
All the best.
The problem that I have with the book is that there is too much of information. And though it is tough to read but it is still better than the 3 books that he later put out. What I have experienced is that the day's movements are easily explained by the concepts of the books. Problem is how to use it in real time trading. So you will see a lot of H1, H2s, Wedge reversals fail etc etc and you keep jumping around. And though I have read it up many times, I am still not making money.
Also, with regard to testing of concepts, unlike Nodoji, I fail miserably at that as there are too many variables. It is not x or y so therefore z. Gets to be too subjective for me but at the same time, I can't trade mechanically. Still, I have a strong feeling that the key is in me and Brooks is the way to go.
All the best.
Brook's trades on a laptop. After my laptop had to be repaired I traded a bit on a desktop, and then seeing how crapping having a big screen really is in fooling one , I went back to my small screen of my laptop.
Let's look at today's ES market. ES overall has been in a uptrend. So that is the overall trend until a major support is broken. ES was retracing down today, however after going below a Pivot support where bears went short on the break, we had a false breakout as bears were trapped, and market went back above the support.
Let's look at today's ES market. ES overall has been in a uptrend. So that is the overall trend until a major support is broken. ES was retracing down today, however after going below a Pivot support where bears went short on the break, we had a false breakout as bears were trapped, and market went back above the support.
This is all that matters.
Writers and mentors have an uncanny ability to make the trader/reader believe they aren't making money because of something they are doing wrong or concepts they didn't understand correctly.
When the truth lies in that none of these bastards are actually explaining an actual edge.
Consider the facts, Brooks won't post live trades in his room, just random bullshit comments that in a scalping trading environments are as useful as a bag with a hole.
The real thing would be thrilled to share his market views and calls in a live market, along with thorough explanations of the methods he/she is teaching, with no ambiguity whatsoever, but then again as far as I know, there's only one master trader out there that's willing to do that, and it's impossible to get access to him as his doors are closed.