Trading Brooks H2 AND L2

[padutrader]

they are not but you're still learning and will eventually figure that out one day.

i have traded forex for 12 years

so i still stick by what i said

you can say you think different but that is what makes the market

i trade what i see and what i have seen

 

[padutrader]

Also, most futures accounts can be open with less than 20k. Thus, I think you meant to say stocks PDT rule to trade in an out multiple times during the same trading day for stock trading requires a minimum of 20k.

i am not an expert in this

 

[padutrader]

So he trades Emini ES but does not trade Forex currencies while offering a course on Forex currencies.

With that said, not sure what you meant by the "basic market action is similar"...they are not but you're still learning and will eventually figure that out one day. The reason why they are not the same is due to the market context involving country.

There's an old message post over at ForexFactory.com by someone that showed huge differences in the backtest results of certain futures versus forex currencies via the same strategy. The difference was big enough that in any given month...one would result in losses while the other resulted in profits.

You can backtest it yourself to understand it. In addition, the resources used for each is often very different too in comparison to each other. Reason why traders that trade both in the same trading day (e.g. Emini ES futures & Forex UsdCad) will be doing 2x their normal work load and sometimes using different trading platforms.

Also, most futures accounts can be open with less than 20k. Thus, I think you meant to say stocks PDT rule to trade in an out multiple times during the same trading day for stock trading requires a minimum of 20k.

wrbtrader

you can follow this thread if you like.

that is why i opened it to show that you can trade forex using Brooks idea and his methodologies.

 

[padutrader]

long audusd target as indicated no stop ready to scale in....4-5 times very wide mental stop....25 pips

 

[padutrader]

added two more positions......H2 and wedge pull back

also base built at lows....as described by Toni Hansen......

there is also a trendline break which was retested.

so all put together gives a little more confidence......so if any down move i will add some more

 

[padutrader]

i do not use only moving averages or only channels or only Brooks or only Hansen.

there are market conditions that it is ideal to use channels or ideal to use Hansen or ideal to use Brooks

i do not stick to one system

 

[padutrader]

but everyone is studying the same animal so they must all come to the same conclusions but by different routes

 

[padutrader]

all DB are not equal

a double bottom made with less momentum or with higher momentum........they will not result in the same.

this is what Toni taught me.....

also a Db made after ten bars is not the same as a DB made after 3 bars...time is also a consideration.
obviously.
if you have a strategy that is 100% probability and a risk reward ratio of 1: 200 but it will take 10 years to reach the target .....
well only Buffet will love that

 

[padutrader]

added two more positions......H2 and wedge pull back

also base built at lows....as described by Toni Hansen......

there is also a trendline break which was retested.

so all put together gives a little more confidence......so if any down move i will add some more View attachment 209366

closed trade.....made a profit the same as i would have made if i closed at the high seen on the chart after i entered.
moral: trade smaller than small...... scale in when you think it is time

 

[padutrader]

long audusd will scale in downside momentum decreasing