NumberZ Day Trading Journal

[padutrader]

You might also ask yourself why the Brook's course isn't the industry standard for teaching new traders.

the main reason why it is not because brooks does not bother to explain his stuff. It is so simple for him tat he assumes it is the same for everyone

if you take the pains to study him-and no one has taken more pain than me, you will find his whole method delightfully simple.......

sometimes i wonder why he writes so many books........it could be explained in a few pages.

i think he just loves to trade and talk about trading....

it is not just about money: do not forget he left a highly lucrative eye surgeon business to enter trading.

if you can clean out all 'hype' which i am slowly succeeding to do.......it is a license to print money and you wonder why people call markets...'unpredictable' 'random' and a few other not so printable things

 

[NumberZ]

Here the 5 minute chart from yesterday with my notes. I should start doing this every day.

 

[NumberZ]

Market Cycle: Spike, Channel, Trading Range

Bar Counting: Identifies possible with-trend entries. Since market has been mostly up since I started the course I am not mentioning L1/L2. These are down trend trade set ups. Last few weeks, ES almost all H1/H2.

Major Trend Reversals: Identify possible transition areas between channels and trading ranges, and bull legs and bear legs within trading ranges.

That is my understanding today. Will spend much of the weekend watching more of the Brooks Trading Course. I do believe those are most important and basic concepts of Brooks Trading Course.

 

[NumberZ]

Brooks says "Spike" is "Breakout Mode". Traders should only trade in direction of breakout during spike. It is the easiest time for traders to make money Brooks says.

Yesterday I made money in the spike from the gap down opening reversal.

I then tried "countertrend" short trades and lost money one one short. Then lost money because I reversed long on H1. Then I reversed short again haha and made some money. My last trade was the H2 long. I made money on that.

So yesterday I learned counter trend is not easy. I will not do that for now.

 

[NumberZ]

This week work has kept me busy and away. I do watch the market when time is able on my lap top.

Today I was watching after the Federal Reserve made their announcement. I bought after H1 and breakout when candle closed above first breakout. I watched as I could and wedge top I used to exit. Price did go higher. I was happy with this result. Still SIM trading.

Also, @Laissez Faire asked how long do I think until I finish Brooks Trading Course.

I've watched all of part one "Price Action Fundamentals". This was 59 hours of video.

I'm now watching Part Two "How to Trade Price Action". This is 39 hours of total videos.

I got about 23 hours more videos until I will have watched the whole course.

Then there are 14 hours of "Bonus Videos".

So 37 hours more of videos. So I am more than half done, but less than 3/4 done. Brooks would probably say it is 60/40 haha.

I did skip around when I first got the course. I'm watching some videos for a second time.

I'll watch some videos again for review when I'm finished.

The course is very repetitive. But it is good repetitive. It builds on same ideas over and over.

I'm really seeing things he teaches happening on the emini chart when I'm watching.

I'm very happy with this course.

I'm excited to trade for money. But I am going to wait and finish the whole course first.

 

[Overnight]

...
I'm very happy with this course.

I'm excited to trade for money. But I am going to wait and finish the whole course first.

You're going to be disappointed with the outcome in live. Keep this in the back of your mind...

 

[maxinger]

You're going to be disappointed with the outcome in live. Keep this in the back of your mind...

right.

trading is simple but very difficult.

 

[NumberZ]

You're going to be disappointed with the outcome in live. Keep this in the back of your mind...

How will the market be different live? I thought the SIM was same as live data. Is it different data?

 

[maxinger]

How will the market be different live? I thought the SIM was same as live data. Is it different data?

SIM trading - it is like walking on a long plank just a foot from the ground.

live trading - it is like walking on a long plank high up in the air with no safety net

 

[NumberZ]

How will the market be different live? I thought the SIM was same as live data. Is it different data?

I checked the data for ES emini on Think or Swim and it is the same data on each bar as Ninjatrader.

I don't think there is any difference between SIM data and Live data.