Trading the ES live-the Brooks way

PPC said:
I think Padu is quite vulnerable and needs help. I believe he’s too addicted and simply can’t stop. The following could be an explanation:

There is robust psychological research on the “Variable Ratio Reinforcement Schedule,” which also applies to traders.

In cases like Padu, he is rewarded intermittently and randomly (with winning trades) around his ruleless Al Brooks’ bar-bar trading method. Because of these random and intermittent dopamine hits, he’s hooked like a cocaine addict.

This is one of the problems with Brooks’s teachings: there are no clear rules, only very fuzzy guidelines that can lead to multiple interpretations of identical scenarios. When there is so much discretion, it becomes not only a pain in the ass to trade (especially on fast TFs), but also can be very addictive for inexperienced traders.

Usually, the more experienced discretionary PA traders have well-defined guidelines and trust themselves not to break them. (the less experienced traders need very objective rules)


The problems I see with Brooks method is:

1) No order-flow dynamics (and thus no trade logic around it)

2) No clear rules / guidelines

3) Too much information to process (sets people up to be confused)

4) Easy to get locked into the confirmation bias and starting not to see or deny information that is not consistent with what is happening

5) High potential to cause addiction (as mentioned above)


I don’t think that Padu is intentionally ignoring us, I think he’s a very vulnerable 67 year old addicted to the random and intermittent dopamine hits.


Padu, if you’re not ready to stop, then at least first look at the higher TFs to get the direction right, and then zoom into lower TFs to get discounted entries on pullbacks. But trading ES on M5 during night chop session is financial suicide.
More...

as you said i am 67 years and am addicted to good liquor and trading. i am not in denial and thank you all for your concern
 
Last edited:
PPC said:
then at least first look at the higher TFs to get the direction right, and then zoom into lower TFs to get discounted entries on pullbacks
More...
that is what i am doing with 5 min alone and there is no chop in ES as i showed in the chart in post 187... what looks like wild chopping is usually makes sense when you apply the right technical rational to it.
i never followed Brooks to the letter but now i follow the most basic trend following method :

i watch BO s and enter on pull backs, after waiting for an entry signal, and if the pull back fails and there is no with trend entry signal then i enter with some entry signal in the counter trend direction.

no need for 3 books 3 lines are enough.
feel free to do the same thing or watch me do it here. Tell Brooks to watch me here too; he may learn a thing
 
padutrader said:
long 5628 Target will let price action decide. same with stop chart is already posted in post 187
More...
closed the trade for 3 pip profit. this is the second leg so i am guarding against some sort of reversal which will fail after 2-3 bars and look then for an entry signal to enter again long or short
nnet3.png
 
PPC said:
I think Padu is quite vulnerable and needs help. I believe he’s too addicted and simply can’t stop.
More...

After doing this for 20 years it’s pretty clear 1) he has ample time, 2) he probably doesn’t need money to live (e.g. retired on a pension) 3) he wants/needs an emotional experience. And the latter is what he’s going to get here, and why he comes.

Anyone who is interested in making money for real starts asking important questions of themselves and doing the necessary research to fix the problem. That’s not what Padu is doing. He is simply going out for an emotional experience on this forum, and I’m sure probably others.

The problems I see with Brooks method is:

1) No order-flow dynamics (and thus no trade logic around it)

2) No clear rules / guidelines

3) Too much information to process (sets people up to be confused)

4) Easy to get locked into the confirmation bias and starting not to see or deny information that is not consistent with what is happening

5) High potential to cause addiction (as mentioned above)
More...

After all this talk I’ve started looking at Brooks videos again and indeed, the guy is basically just a post-dictive chartist. He tells the story as it happened. That’s classical technical analysis.
 
  • Like
Reactions: PPC
Georgii said:
After all this talk I’ve started looking at Brooks videos again and indeed, the guy is basically just a post-dictive chartist. He tells the story as it happened. That’s classical technical analysis.
More...
damn right it is .IT IS ALL ANALYSIS because you can analyze something which is in the past only. but past is prologue
 
You must log in or register to reply here.
Back
Top