NumberZ Day Trading Journal
- Thread starter NumberZ
- Start date
I could barely watch 2 minutes of his diatribe before I had to shut it down. Because he, like every other guru out there, is trading time-based bars. The chart is messy and disgusting. He's a day trader.
"Oh, the 3rd bar confirms the breakout was a failure."
When the "trend" then suddenly reverses in 5 minutes, he has no solution for that.
That should not surprise you based on the title of my journal. Maybe you didn't take the time to read it?
That's ok that you don't like Brooks's charts. His teachings wouldn't be a good fit for you. I'm sure you have a method that you like and you use. I am learning Brooks's method for day trading. That is what this journal is about. Thank you for reading my journal.
Day trading is a different side of the market to me.
Well, what was the usual side, if day-trading was the different side?
My resistance to posting a video analogy is fading fast, Hurry, I need an answer, lol!
please don't junk my journal up with more irrelevant videos
this is my journal. It is about using Brooks trading course to learn to day trade with profits.
thank you
I'm done for the week. Today's results.
This is all ES. Watched a lot more of Brooks Trading Course this week, especially last night.
Some things really clicked for me.
Will just trade ES for next two weeks.
If next two weeks results overall profitable I'll trade live money. This is still SIM.
This is all ES. Watched a lot more of Brooks Trading Course this week, especially last night.
Some things really clicked for me.
Will just trade ES for next two weeks.
If next two weeks results overall profitable I'll trade live money. This is still SIM.
When trading the ES and you getting a lot of sideways movement. Up/down you might want to trade the pressure as they play out in the sideways movement. Especially when that sideways movement is narrow and not broad and slow and not fast.
You might want to watch Brooks video on buying/selling pressure. Then trade what I called "price probes" as the pressures play out. You got bears trying to force a bear BO of the sideways moves and bulls trying to force a bull BO of the sideways moves. The movements are back and forth. A TR as defined by Brooks is around 20 bars sideways movement. But price to 20 bars as a TR is evolving we get pressures at play and they can be capitalized upon.
The pressures are the cause of this price probing. Like an auction but different in the sense that in an auction the item is going off at the best price the auctioneer can drum up. But in this case the auctioneer is the pressures at play and one is capitalizing on the pressures by fading the last movement and looking to filling gaps created by the auction 1 to 3 bars back. PRICE WILL EVENTUALLY MOVE WHERE MORE TRANSACTIONS TAKE PLACE. Otherwise, we won't have a market. Bears and bulls will probe.
For longs basically you want to see price go below a previous low (maybe 1 to 3 bars back) and closer to bottom of the sideways movement the better (but can be accomplished in the middle area of the sideways move) then look at going long say 2 contracts. Then exit 1 contract on 1 pt profit and the second one at 2pts.
For shorts just flip the concepts around.
These entries and exits usually have to be done with limit orders as the sideways movement is slow and TR movement is narrow and not a broad TR.
Basically one is trading TR BEHAVIOR BEFORE price becomes a TR as defined by Brooks but the concepts can also be applied in PA once it becomes an actual TR. Along with other TR techniques as as fading the outer edges....etc. It can even in PB's as a PB is simply a small trading range.
It is basically capitalizing on price probes and price goes back and forth searching for, or trying to create a BO possibility.
You might want to watch Brooks video on buying/selling pressure. Then trade what I called "price probes" as the pressures play out. You got bears trying to force a bear BO of the sideways moves and bulls trying to force a bull BO of the sideways moves. The movements are back and forth. A TR as defined by Brooks is around 20 bars sideways movement. But price to 20 bars as a TR is evolving we get pressures at play and they can be capitalized upon.
The pressures are the cause of this price probing. Like an auction but different in the sense that in an auction the item is going off at the best price the auctioneer can drum up. But in this case the auctioneer is the pressures at play and one is capitalizing on the pressures by fading the last movement and looking to filling gaps created by the auction 1 to 3 bars back. PRICE WILL EVENTUALLY MOVE WHERE MORE TRANSACTIONS TAKE PLACE. Otherwise, we won't have a market. Bears and bulls will probe.
For longs basically you want to see price go below a previous low (maybe 1 to 3 bars back) and closer to bottom of the sideways movement the better (but can be accomplished in the middle area of the sideways move) then look at going long say 2 contracts. Then exit 1 contract on 1 pt profit and the second one at 2pts.
For shorts just flip the concepts around.
These entries and exits usually have to be done with limit orders as the sideways movement is slow and TR movement is narrow and not a broad TR.
Basically one is trading TR BEHAVIOR BEFORE price becomes a TR as defined by Brooks but the concepts can also be applied in PA once it becomes an actual TR. Along with other TR techniques as as fading the outer edges....etc. It can even in PB's as a PB is simply a small trading range.
It is basically capitalizing on price probes and price goes back and forth searching for, or trying to create a BO possibility.
Last edited: