Volume charts and time charts are the only way to gauge the market sentiment in a price action environment. The only reason I use time charts, is to see what the ALGOS are seeing, and use that as an entry and exit model. In accordance with my VOL charts of course.
Price is Blind Man's Bluff.
- Thread starter mikeriley
- Start date
Volume charts and time charts are the only way to gauge the market sentiment in a price action environment. The only reason I use time charts, is to see what the ALGOS are seeing, and use that as an entry and exit model. In accordance with my VOL charts of course.
if you do not read Brooks and understand him..... you will fail miserably in trading.
trading is simple but not easy......simple things are difficult to understand. it took me long time to get what Brooks is saying.
i know many here ,in fact, maybe more than 90 %, will say Brooks is fraud........well that figures!
more than 90% fail at trading.
'there are none so blind as those who will not see '
and finally i am not trying to insult you but help you
trading is simple but not easy......simple things are difficult to understand. it took me long time to get what Brooks is saying.
i know many here ,in fact, maybe more than 90 %, will say Brooks is fraud........well that figures!
more than 90% fail at trading.
'there are none so blind as those who will not see '
and finally i am not trying to insult you but help you
Hi there Padu, let me first state, that I've been trading Futures
over 15 years, and consistently profitable the last 8 years.
I think you have some comprehension issues, and clearly
misunderstood the premise of my little message.
Also, Mr Brooks is absolutely the worst when it comes to teaching
trading! No one should start their trading career on a 5 minute
chart like he teaches.
As proof, he even states in his books it took him 10 years
to become profitable. That's atrocious. Did it take you
10 years to become profitable? There are many better
resourses to learn trading.
I taught my wife and brother, and they are profitable
within 2 years. Please stop advocating Mr Brooks
as some kind of super Guru for trading, he is not!
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My realized sharpe ytd is 2.50 and I say that Brooks is a fraud
The S&P has returned around 17% YTD.
What would it's sharpe ratio be using what ever risk free return you used?
Hello padutrader,
I can not tell you what to do as a man. But, claiming if someone does not read Al Brooks and understand him, they will fail as a trader is a strong claim.
sorry i should have clarified one thing: there is no better person than Brooks if you are trading ES intraday and trading with 5 min.
and one that i have always believed in since the day i picked up his book.
it took me long time to understand what he was trying to say.
the most important thing for a trader to know is whether the market is trending or ranging-because the strategy is diametrically opposite in each of the above.
it is the most difficult thing to know and is the reason why traders make money in in one type of market condition and lose it in the other.
unfortunately, there is no easy way to determine whether market is ranging or trending and it is upon this that your success, as a trader, depends upon.
Brooks lays a lot of stress upon this one aspect of market, with good reason.
because in ranges you fade strength while in trends you fade weakness.
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