Trading the ES live-the Brooks way

[Frederick Foresight]

The problem starts when you look at Brooks or anyone else as a turnkey solution

Did I say that’s what I was looking for? Did you read my post?

And here’s one more observation I can offer. Brooks prevaricates about everything. So if every single bar has an alternative interpretation, then no single bar means anything in real time apart from either going in your direction or not.

Perhaps my approach is not as refined as what some of you guys use, but the whole idea of “bar by bar,” where each new bar offers a whole new world of interpretation is just way over the top for me.

 

[padutrader]

Thank you, padu, for your transparency with your wins and losses. Some will say your determination is pure insanity, but I think it is admirable

my wins were fluke and my losses were just a result of misunderstanding.
i have a very contrary belief that all market movements are the results of traders logically buying and selling.
brooks tries to explain why he thinks it is so too..

i continue to hold that belief.

 

[padutrader]

I also rarely see Brooks' type trades by padu.. he can explain them OK but just doesnt implement them as well, yet

that is exactly what i said maybe in slightly different words

 

[padutrader]

for someone to tell me the price can either go up or it can go down

yes i agree with you there.

but at the same time, he does offer some logic why prices move as they do.

for eg a break of the bear trend line followed by test of the low/high accompanied with a good reversal bar is a fantastic reason to take a trade.

now i do not need a whole 3 books to say that and that is now the basis of all my trading.

how to count legs is also a fantastic thing described by brooks and how to enter and exit.

but he confuses the hell out of all of us for the selfish reason, to show that he knows something we dont and i condemn him for that.

whether it is worth going through his rubbish, to search for a few diamonds, that are there, is a very personal decision, that I leave to the individual trader.

but if you are trying to understand the moves of the market then i can say i have gone through about a 70 of these, how do i put it, teachers or educationists, in my search for market intelligence or logic, since 1987 and Brooks is the only one i have personally come across that says markets are not random but moved by traders making logical choices to buy or sell.

 

[SunTrader]

I could write a book. Perhaps my favorite was at the only Trader's Expo I ever attended, ages ago.

There was this one vendor, Scott Andrews, "Master the Gap". He was addressing a large crowd and discussing his strategy. As he was making his presentation people would interrupt with questions, some more decent, and some outright stupid. Well...

One old lady (must have been in her seventies) was not having any of it. She felt that these interruptions were preventing her from learning the secret that Andrews was belaying to all of us. So she started yelling in a thick Jewish accent "Stop asking questions I want to listen!!". People ignored her. She finally really got angry, stood up and made a fuss.

Andrews then said "How about I do the presentation first, and then I'll take questions at the end? Fair?" People seemed to agree. So he continues.

Then sure enough a minute hardly passes and a question comes. And then another. And then another and another. And Andrews duly answers them anyway. The lady totally gave up in frustration.

This illustrated an important point. The vendors are there to sell. They are not giving away any big secrets that will teach you to make money. Yet this lady, who was there with her husband, thought he was giving the keys to the kingdom away. Those interrupting with questions likewise thought it was their one chance to glean some secret. It was quite a sight to behold.

I also remember one guy in his forties, very clean cut, who looked eagerly at Andrews and goes "Do you also offer a signal service?", with this serious look like this was going to get him rich.

You learn a lot when you attend these events...

I attended one and only one myself and ....... it was Gold.

Its all I'll say.

 

[padutrader]

Aloha Padu!

Nice to see you posting again. Your threads always attract a lot of attention and bring out some knowledgeable people whos posts can help many users on ET. Sometimes it comes across as harsh, but it's well worth it for what's offered. Thank you for facilitating this.

Aloha?
wow that is why i come here to meet people i would not meet anywhere else.

and yes i too noticed that attraction my posts have and is that not the main reason i am posting ?

so that everyone benefits from healthy discussion.

i have also believed, contrary to popular belief, that there are no secrets in markets and that if someone claims to have found the secret formular, for making millions by trading, it is rubbish, for the simple reason, that the market does not move a 1000 points by the actions of one man alone, it needs others doing the same thing so the market moves by the actions, of millions doing the same thing, for a lot of different reasons, none of which are secret

 

[padutrader]

I could write a book. Perhaps my favorite was at the only Trader's Expo I ever attended, ages ago.

There was this one vendor, Scott Andrews, "Master the Gap". He was addressing a large crowd and discussing his strategy. As he was making his presentation people would interrupt with questions, some more decent, and some outright stupid. Well...

One old lady (must have been in her seventies) was not having any of it. She felt that these interruptions were preventing her from learning the secret that Andrews was belaying to all of us. So she started yelling in a thick Jewish accent "Stop asking questions I want to listen!!". People ignored her. She finally really got angry, stood up and made a fuss.

Andrews then said "How about I do the presentation first, and then I'll take questions at the end? Fair?" People seemed to agree. So he continues.

Then sure enough a minute hardly passes and a question comes. And then another. And then another and another. And Andrews duly answers them anyway. The lady totally gave up in frustration.

This illustrated an important point. The vendors are there to sell. They are not giving away any big secrets that will teach you to make money. Yet this lady, who was there with her husband, thought he was giving the keys to the kingdom away. Those interrupting with questions likewise thought it was their one chance to glean some secret. It was quite a sight to behold.

I also remember one guy in his forties, very clean cut, who looked eagerly at Andrews and goes "Do you also offer a signal service?", with this serious look like this was going to get him rich.

You learn a lot when you attend these events...

wow

i agree with one hundred percent maybe a thousand.

as i said in my post no 126 and i quote " i have also believed, contrary to popular belief, that there are no secrets in markets and that if someone claims to have found the secret formular, for making millions by trading, it is rubbish, for the simple reason, that the market does not move a 1000 points by the actions of one man alone, it needs others doing the same thing so the market moves by the actions, of millions doing the same thing, for a lot of different reasons, none of which are secret"

 

[HawaiianIceberg]

I don't recall him explaining anything Brooks other than that the dude is a genius. Go figure.

Every time he’s wrong, he explains why (showing his underlying knowledge)

 

[volpri]

Did I say that’s what I was looking for? Did you read my post?

And here’s one more observation I can offer. Brooks prevaricates about everything. So if every single bar has an alternative interpretation, then no single bar means anything in real time apart from either going in your direction or not.

Perhaps my approach is not as refined as what some of you guys use, but the whole idea of “bar by bar,” where each new bar offers a whole new world of interpretation is just way over the top for me.

Maybe you should look at it as a PUB crawl. Bar by bar...know what I mean? ROFLMAO

 

[Overnight]

Aloha?
wow that is why i come here to meet people i would not meet anywhere else...

Aloha is a standard greeting from Hawaii. You don't know much about America, do you?

... for the simple reason, that the market does not move a 1000 points by the actions of one man alone, it needs others doing the same thing so the market moves by the actions, of millions doing the same thing, for a lot of different reasons, none of which are secret

Which market? You do know that the only "market" that can move 1,000 points in a short time-frame is the DOW, yes?

You keep on keeping on with Al Brooks, stupid.