Trading the ES live-the Brooks way

[Georgii]

Getting back to Brooks, here is one of his webinars that he did with Big Mike:

In it you can hear him say things like “95% of the time you can make money in the market by being long or short, you just have to manage it correctly”. And this is in essence the core of his approach. He gives you all the freedom to go long or short, as long as you manage it ‘correctly’. That is not a trading strategy.

The whole ‘trader’s equation’ and ‘actual risk’ is something that according to his approach can’t be tested in any way. It all comes down to ‘experience’ as he says. Which brings us to the fact that Brooks is, once again, a discretionary trader who has his own brand of technical analysis. He trades in a very discretionary way and what you’re getting is running commentary by a chartist and not, in essence, any sort of actionable trading strategy. Just technical concepts that you can work on to develop a strategy.

 

[schizo]

True. My only point was that if padu was not making the kind of headway he was hoping for, then maybe he should consider an alternative approach or outlook. I think my first post to this thread was along those lines.

Did you not read the TITLE of this thread? What you're doing is going to Vegas and telling people not to gamble.

In case you're too damn lazy to look, this is the title:
Trading the ES live-the Brooks way

 

[schizo]

By the way, here is my Topstep account cost me 2 X $49 for a combine and $149 activation fee, not a bad ROI if you ask me ...
Already took out payments to cover these costs tenfold.

Now you sound like a condescending SOB. You really need to go down that route? Stay on topic or otherwise take a bite out of STFU cookie.

 

[HawaiianIceberg]

Unfortunately, you missed your price target by a tick. So I imagine you got stopped out at 26.25.

In any case, why did you enter at 27.75? Because it broke out? Well, it came back down for a retest. So next time, WAIT!

View attachment 347055

Aloha schizo,

Hopefully you can help get this thread back to trading by helping me with another range question

Could you give any insight into why your range lines are drawn where they are? I drew in a red line on the top where I would have expected it to be draw and the bottom line, well, I have no ideas why it could be there

ET lights up like wild fire when padu is in the house! I have a feeling the lights from this party might turn off soon though

Padu, why not trade micros for a while? You could trade more than 1 contract at a time. Money management is a cornerstone of Brooks. As he says, unless it's a BO, you can usually get out of a bad trade BECAUSE YOU CAN SCALE IN AT A BETTER PRICE. Averaging down, of course, can also can be a recipe for ruin so suck it up when your wrong or it'll be back to the account reset button

 

[schizo]

exited long for 2 pips

Padu, in ES we say "ticks" not "pips". Leave those to Forex sissies.

BTW you say you got out for 2 pips here and 4 pips there. But your platform says you're still losing. Are you holding back something or what?

 

[Frederick Foresight]

Did you not read the TITLE of this thread? What you're doing is going to Vegas and telling people not to gamble.

In case you're too damn lazy to look, this is the title:
Trading the ES live-the Brooks way

You're right. I'll get off your lawn.

 

[padutrader]

trading plan is what you are going to do.
that should depend on what the market is doing.
market is either pulling back or breaking out.
every move can be described by the trader as one of these.
a move can be defined by a trend line.
a break of the trend line means the end of the move.
the move can be up, down or sideways. This may be seen by a upsloping or down sloping or flat trend line.

 

[padutrader]

Just technical concepts that you can work on to develop a strategy.

yes that is exactly what Brooks says .or means. Brooks obviously needs an interpreter and you are doing the job very well
take the concepts and make a strategy a plan or as John Bollinger says 'take trading decisions'.

NOW GUYS WE ARE GETTING SOMEWHERE WELL DONE @Georgii.

trading needs clarity of thought

 

[padutrader]

Aloha schizo,

Hopefully you can help get this thread back to trading by helping me with another range question

Could you give any insight into why your range lines are drawn where they are? I drew in a red line on the top where I would have expected it to be draw and the bottom line, well, I have no ideas why it could be there

View attachment 347131



ET lights up like wild fire when padu is in the house! I have a feeling the lights from this party might turn off soon though

Padu, why not trade micros for a while? You could trade more than 1 contract at a time. Money management is a cornerstone of Brooks. As he says, unless it's a BO, you can usually get out of a bad trade BECAUSE YOU CAN SCALE IN AT A BETTER PRICE. Averaging down, of course, can also can be a recipe for ruin so suck it up when your wrong or it'll be back to the account reset button

nice one mate.
now ET is getting lit up by some very illuminating comments

keep it up guys

we are all winners here

 

[padutrader]

Could you give any insight into why your range lines are drawn where they are?

that is a fantastic question

i draw the lines where it touches the most number of bars.

you can draw the lines anywhere you want because each line will give you a different information and you can, as Bollinger says, take that information and make trading decisions