my summary or my understanding of Brooks price action

[Handle123]

I think you have to be able to be Pshyco to understand his first book , not well written, one's came after a bit better but not much, learning other people's concepts are difficult when one does not have clear understanding of the gentleman offering his mind to the reader. But the more you reread it, the fuzzy parts become clearer. I seldom check youtubes, rehashing of other's and I have lost the motivation that others have developed anything better.

 

[SimpleMeLike]

i have made nothing work in my life because i always am looking to make a killing.
that is because i have always had a small amount of income so what is the point of making a little money
so i am one of the lucky few

padutrader,

Do not get trapped in to making a killing. Get trapped into learning a skill and edge to make a killing.

I trading one crude oil contract. Once I master my trading skill and show profitability of trading one contract, I will scale up to 2, then 3, then 4, then 5, then 6.........then 10.

You see, the goal is not to make a killing, but to find an edge and skill. THEN make a killing.

 

[SimpleMeLike]

DO NOT READ HIS BOOKS
but his video courses are dirt cheap.....maybe the cost of a good dinner in a high class American restaurant.....i say maybe because i have never been to America.....
i read his book 12 years ago.....
but if want free then you tube is the place to search.
i did just that...because after paying for a 200 books over a 20 years i got reluctant to pay for anything

I do not buying anything that will add value and help me make money consistently.

 

[padutrader]

I seldom check youtubes

i only see brooks vids

 

[ironchef]

where? would like a free copy
his videos are also free and easier to understand.

https://www.youtube.com/results?search_query=bar+counting+al+brooks

You can google.

 

[padutrader]

Most methods can be summarized in one or two sentences conceptually.

yes they can and this bar counting is ridiculously simple if you understand the purpose behind it

what is H2? and why enter on a H2?

H2 is a hint that the pull back is over......and is a means to enter the 'main' trend.

it also enables a stop placement which may be quite tight.

so if you take a H1 H2 OR H3 you must be sure that it is taking place in a pull back......

it is that simple and this is a method that has been used by traders for 100 years.

so to call it bpa is a bit presumptuous ...

 

[padutrader]

since trading H2 L2 is a counter trend trade.....the pull back should not be too 'strong and a h2 that occurs when the pull back is strong and so the requirement of at least a trend line line break

 

[padutrader]

if there is a trend one way to enter it, is when the pull back is over.

that is the idea behind bar counting

 

[padutrader]

understand his first book

he does talk sense .....but do traders really need all that understanding...you do not need a PhD to make money as trader.

markets move... correct... and move again.

enter after the correction ends.....put a stop beyond the correction extreme......

why do you need to understand 4 books and countless concepts?

that is the mistake i made..... that is a common mistake

 

[ironchef]

he does talk sense .....but do traders really need all that understanding...you do not need a PhD to make money as trader.

markets move... correct... and move again.

enter after the correction ends.....put a stop beyond the correction extreme......

why do you need to understand 4 books and countless concepts?

that is the mistake i made..... that is a common mistake

Are you doing better now?