Trading the ES live-the Brooks way

Georgii said:
Al Brooks has some interesting ideas, but at the end of the day he's a very discretionary trader who like many technical traders creates his own names for stuff that's already got other names. I've gotten a few ideas from him but as with any method, it's just part of the picture for most people.

One of the problems with Al's methods is that he has a bunch of different ideas and when you start trading his concepts you're tempted to try everything all at once, hence over-trading.

As for trading 20 hours a day, heaven help you. Unless the VIX is at major highs you'll be chopping up your account inside of a trading range in no time.
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agree with you 100%
i am already emotionally tired after 3 hours.!
i know all about chopping my account in a trading range-coming to realize it.
you have put everything about brooks in a nut shell and like you say whether you follow brooks or someone else it does not matter as long as you follow someone diligently.
and i have been overtrading for 20 years.

you are one hell of a a smart trader.
 
padutrader said:
the second trade was a beauty.
sold short at 5582.62 stop above the range at around 5594 and target at 5582.75. i later increased the target by one pip which was reached one bar later.

the stop was a correct one in a trading range but i can assure you that i would get out a lot earlier in the likely scenario that the trade may fail-as can the best of trades.
i was confident of this one because of my experience but any trade can and does fail. a trader has just got to deal with this and learn to manage trades as best as he can

i sold the 3 breakout, above a pair of dojis ,in the pullback from the first bear leg-a wedge-,this pull back tested the entry of the bears and so was reasonable sell in a trading range for a second leg down.
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In your previous reply to my request to post live trades, you said you can't be bothered and yet you have time to write all this so eloquently? :rolleyes:

You could have simply written:
Short 5582.62
SL 5594
PT 5582.75

BTW how can you short @ 5582.62 (which itself is weird since ES trades only in 0.25 increment) and get out profitably at 5582.72? That's actually a loss.
 
This guy must be trolling everyone.

He posted a trade calling himself a pro, using the 'beginners layout' on his broker. Check the picture he posted.

Size, entry and exit are certainly a sign of a beginner.

Then he called that a proof of his mastery.
Definitely trolling.
 
flash crash said:
I don't believe Brooks himself trades. I think he probably tried it many years ago, failed, and found that writing magazine articles and then books was the better way to make money "from trading."
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What is your rationale for saying this?
 
schizo said:
how can you short @ 5582.62 (which itself is weird since ES trades only in 0.25 increment)
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i sold at 5588
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padutrader said:
first trade horrible entry entered at top of range, added more and held till the bounce off the bottom of range-lucky that it did bounce- and exited with a125 usd profit.
i am ashamed to tell you my entry because it was ridiculously bad for a pro trader but after a long, horrible week end i always have remember again the basics and sometimes i get wiped out in the first two trades of day.
however this is the advantage of entry in a range that you will get at least one chance to get out at break even or a small one pip profit.
i think one way to clear the cobwebs out of the head is to start the day with trades on a sim account.
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I’m not a fan of Al Brooks, but I do like you@ padutrader Here is why:

You should not be ashamed at all that you’ve made a mistake, instead pat yourself on the shoulder because (unlike some Al Brooks’ posters) you just showed that you’re able to put aside the trading ego and de-couple the process from the outcome instead of being in denial and attributing losses to bad luck, and wins to skill (like some other forum members do).

Those traders who are unable to de-couple their process from the outcome become tied to the outcome, which means they become ego-based traders, and such traders are kidding themselves and never succeed long-term. They just keep on defending their egos at the expense of their own trading development.

If you want to constantly improve, then (apart from identifying your strengths) you need to constantly/actively be identifying/working on your own weaknesses (both TA and psychological), and public forum is definitely not a place where serious traders would post their journals.

Also, you need to ask yourself why would you want to trade so many hours each day at the expense of missing out on your life? Not to mention that it is very hard to stay focused for more than few hours straight. There are better experiences in life to enjoy than being married to the monitor.
 
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