Sounds like head you win tail I lose.
is trading a horror? losing more than winning? do this!
- Thread starter padutrader
- Start date
well no personal offense but you can sound like a winner or a loser.
good intentioned actions sometimes have the worst results
and everyone gives teaching which works for them. or which has worked for them.
trading is very personal. I regularly aim for 3- 4 ticks profit. there are so many who will scoff at that. i love it.
markets change over decades .
take it leave it or bitch about it
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ok next step...
what exactly is second signal and what can you expect from it.
a second signal is the start of second leg down.
so this means the target is one leg down.
so what ends this second leg down is a signal in the opposite direction.
now this first signal in the opposite direction should be a strong one.
if it is weak then you can expect another, minor leg down.
this signal in the opposite direction, the target for that, is the top of the leg, it is reversing. if another signal comes in the same direction as the second leg then there is third signal......
So this is Brooks on one topic.
trading is complicated or interesting depending on how you approach it
now guys here do not understand him: do not try to understand him.
it is much easier to call someone a fraud.
i understand what Brooks is saying so i do not need proof that it works or that ' it makes money' or that traders who follow Brooks make money....
because they obviously are.you just need to see a few charts to know that.
so it is equally obvious that those who call Brooks a fraud do not make the tiniest effort to check him out.
what exactly is second signal and what can you expect from it.
a second signal is the start of second leg down.
so this means the target is one leg down.
so what ends this second leg down is a signal in the opposite direction.
now this first signal in the opposite direction should be a strong one.
if it is weak then you can expect another, minor leg down.
this signal in the opposite direction, the target for that, is the top of the leg, it is reversing. if another signal comes in the same direction as the second leg then there is third signal......
So this is Brooks on one topic.
trading is complicated or interesting depending on how you approach it
now guys here do not understand him: do not try to understand him.
it is much easier to call someone a fraud.
i understand what Brooks is saying so i do not need proof that it works or that ' it makes money' or that traders who follow Brooks make money....
because they obviously are.you just need to see a few charts to know that.
so it is equally obvious that those who call Brooks a fraud do not make the tiniest effort to check him out.
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so if you enter on a second entry, which , signals a second leg, the trade has be closed, when you get a [first ] signal in the opposite direction.
now if the second leg is extremely srong and you get a first signal in the opposite direction, then that signal will like fail beacuse traders will look at that signal as a correction rather than a reversal, and smart traders will be fading that first opposite direction signal.
if those traders are right about the fade, then you will get another signal, same as the signal before, for one more leg ......this is what happens in a trend.
if a second leg is not strong, then the first signal in the opposite direction, is likely, a reversal signal.
now if the second leg is extremely srong and you get a first signal in the opposite direction, then that signal will like fail beacuse traders will look at that signal as a correction rather than a reversal, and smart traders will be fading that first opposite direction signal.
if those traders are right about the fade, then you will get another signal, same as the signal before, for one more leg ......this is what happens in a trend.
if a second leg is not strong, then the first signal in the opposite direction, is likely, a reversal signal.
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