Trading the ES live-the Brooks way
- Thread starter padutrader
- Start date
better to trade the simple obvious stuff.
i mean this bar by bar stuff is not necessary ... put a stop and chill out.
some basic market common sense is enough
So how was the Brooks open house? Any reviews of the Master baiter?
i registered but no invite
what does Brooks say, basically, in a few lines.
if it is a strong range then H2, L2 are high probability fades.
if it is a strong trend then H2, L2 are high probability with trend trades.
so market condition is more important than set ups.
now since the market spends a lot of time in neither being in a strong trend or in a strong range you have to spend a lot of time doing nothing.
now what is a strong trend?
one which there are gaps. NOT gaps in the conventional sense but gaps as Brooks defines it.
once a gap is filled then traders will start fading breakouts and H2/L2 beacuse then it is no longer a strong trend
a channel is a weak trend and a weak range.
so they can be traded as trend or a range or you can trade the channel trend as a swing and the channel range as a scalp.
channels can be narrow or broad.
if it is a strong range then H2, L2 are high probability fades.
if it is a strong trend then H2, L2 are high probability with trend trades.
so market condition is more important than set ups.
now since the market spends a lot of time in neither being in a strong trend or in a strong range you have to spend a lot of time doing nothing.
now what is a strong trend?
one which there are gaps. NOT gaps in the conventional sense but gaps as Brooks defines it.
once a gap is filled then traders will start fading breakouts and H2/L2 beacuse then it is no longer a strong trend
a channel is a weak trend and a weak range.
so they can be traded as trend or a range or you can trade the channel trend as a swing and the channel range as a scalp.
channels can be narrow or broad.
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the trend may be your friend, but the range is your spouse.
always with you and pretty dependable
always with you and pretty dependable
Very good Padu.
where most traders go wrong with Brooks is when and if there is h2 buy there may also be a longer term l2 sell which will negate the h2 buy making it a beautiful fade.
ii am sure there are traders who realize this but it took me a long time to figure it out.
Brooks does not say this ever but i think anyone who trades knows the longer-term signals will win
ii am sure there are traders who realize this but it took me a long time to figure it out.
Brooks does not say this ever but i think anyone who trades knows the longer-term signals will win
it took me a long time but i finally learnt to use L2 AND H2 to swing trade.
there are many H2 L2 some are for scalps only and others are for longer swing.
it took me almost 20 years to differentiate and this is critical for knowing when to book profits.
all H2,L2 are not created equal.
there are many H2 L2 some are for scalps only and others are for longer swing.
it took me almost 20 years to differentiate and this is critical for knowing when to book profits.
all H2,L2 are not created equal.
i am also trading bitcoin on Delta India exchange where i can fund in INR,
it is possible to trade BTC with as little as 1000 INR or or 11.76 usd [exchange rate 85 INR to a USD]
or even 1 usd
there are no sim /demo only live.
so it is a good way for novices to learn and experience live conditions from the word go
it is possible to trade BTC with as little as 1000 INR or or 11.76 usd [exchange rate 85 INR to a USD]
or even 1 usd
there are no sim /demo only live.
so it is a good way for novices to learn and experience live conditions from the word go