Trading the ES live-the Brooks way

padutrader said:
i have never followed Brooks to the letter and so i do not attribute my failure to him.

in this journal from now on i will make trades according to what Brooks says. not very difficult and it is profitable maybe not hugely profitable.
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Oh dear… it appears you’re not getting it. This whole thread was for nothing.

You want to copy someone, mirror them. Well 1) You can’t copy how Al Brooks trades. He doesn’t do live calls. 2) You can’t learn by copying what someone does anyway.

Brooks is a technical analyst who also trades. You can get ideas from him, but you won’t become ‘the Al’. Not going to happen even if he did call out his trades. Discretionary traders can’t clone copies of themselves even if they wanted to.

You’re trying to latch onto someone’s coattails and that is a classic problem with this business. People want to follow someone and get success that way. Not going to happen.

Take classic technical concepts like pullback trades, breakouts, fake breakouts, trend reversals. See them on many many charts. Find the best ones. Find the ones that fail. Understand how they fail and succeed. Understand how much room you need to give it.

This is how you learn. Not by copying Al Brooks or anyone else. Don’t be like those people at Trader’s Expo I cited earlier…
 
padutrader said:
ok by popular demand-for fun- but not for overnight
long 5627.75 stop and target as shown on chart break out above a pair of doji bars after a big bull bar a clear Brooks buy.
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damn it! Stop trading ES during the Asian session!
ES wants to sleep during the Asian session!


Trade things like China A50, Hangseng futures, Taiwan index futures !
 
volpri said:
SL was too tight. Proper placement was at the bottom of the doji bar before his entry bar. But anyway, as a scalper I would have grabbed my profit and waited to enter again.
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If he were sticking to what's taught by Brooks, he should have waited until price came down to the EMA(20), which pretty much lined up with the breakout line. And it was also a 2nd entry long. That would have been a "low risk" entry.

upload_2024-8-20_21-32-6.png
 
maxinger said:
damn it! Stop trading ES during the Asian session!
ES wants to sleep during the Asian session!


Trade things like China A50, Hangseng futures, Taiwan index futures !
More...

i am not trading now but whenever i do i will post.

thanks for your support
 
schizo said:
If he were sticking to what's taught by Brooks, he should have waited until price came down to the EMA(20), which pretty much lined up with the breakout line. And it was also a 2nd entry long. That would have been a "low risk" entry.

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His trade was ok, but certainly not the best context but for a scalp. But it was a workable scalp but SL had to be placed correctly. IT took more than 5 bars to trade back down into the TR and yes going long at the 20 was a lower risk trade IF IT WORKED. I wouldn't take it unless I saw big BO north one bar or a series of bull bars. Then I would go for a MM from the bottom of the TR to the BO point extended upward the same distance. On such a resumption of the BO Then I would go long. Why? It broke out of the TR then closed the gap on the PB so no confirmed BO. Price could just as easily go back into the range. I have no idea what happened afterwards. Can you post the chart?

Actually, I would have been shorting and scaling in before that BO every happened. Top 1/3 of the TR. The TR was actually bigger than you drew. Could be extended left more bars. He likely didn't see the TR...the larger context and market cycle.

I would be interested in seeing what happened after that.
 
schizo said:
In any case, why did you enter at 27.75? Because it broke out? Well, it came back down for a retest
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yes if i was on the computer and it was for real money i would definitely scalp out because breakouts from pairs of doji or even a doji do reverse as BROOKS points out repeatedly
 
volpri said:
His trade was ok, but certainly not the best context but for a scalp.
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yes if i was on the computer and it was for real money i would definitely scalp out

because breakouts from pairs of doji or even a doji do reverse as BROOKS points out repeatedly
 
schizo said:
If you can, do us a favor and give us your rationale BEFORE you jump into a trade, not 2 hours later.
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I think this will actually help you a lot, Padu. If you can explain why ahead of time, you might talk yourself out of some not so great entries.
 
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