Trading the ES live-the Brooks way

Georgii said:
Jack Schwager said it wisely that “there are a million different ways to trade, but all of them are hard to find”
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that one i have not heard in my 30 years of trading

damn right

but trading is a lot easier if you have capital to trade

see my post 490
 
PPC said:
Hey Padu, where did you get those > USD200,000 in the first place if you’re an Indian living in India?

As far as I know, India is very poor country, and you don’t seem to be any good at running business, so where did you get the money from?

A scammer?
Selling drugs?
Being a pimp?
A corrupt government bureaucrat taking bribes?
Inheritance?


I’m curious.
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my father worked for 30 years as a pilot and as much as he tried he could not take his money with him

and you got it all wrong if you think India is a poor country.

it is not.it would take a book to explain why it is not
 
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padutrader said:
before i do that, do i enough capital to trade?

for day trading i never have.
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This is a very important question to answer. Because if you don’t have capital you don’t have a business. And let’s face it, if someone asked me to open up a steel mill, I wouldn’t be able to do it. Not without getting a consortium of investors and banks involved.

I also started with little capital, and it was a serious problem. I tried day trading the Euro when the volatility was very poor. I forced trades and ate up my account. Then I decided to try TopStep. It was a big mistake, as I realized. Then I worked on the problem and got together enough capital to pattern day trade stocks, where I focused on the stock indeces. Then I was able to graduate up to futures.

If you’re running a business it is not your job to simply dream. It is your job to solve problems proactively. If you lack capital, forget TopStep. Even successful, experienced traders can fail their combine. Find a way to save up the money you need, partner with someone if you have to. But by all means, if you take someone else’s money, be diligent with your trading. Otherwise you will be forever a dilettante.
 
Georgii said:
Watching live charts is important. As is looking at past charts. If all you do is watch charts live, your memory isn’t that great to recall many multiple examples of price behavior. You forget rather fast and your brain can meld memories in a way it finds convenient. That is why we look at past market data. It’s hard evidence.

This does not obviate the need to look at live market data, which is also important as we develop ideas. As a matter of fact I think it’s perfectly fine to experiment sometimes with trading ideas live (trading in small size, of course), just to get the creative stimulus going.

But here is a great quote from Bob Volman’s second book:

“…please recall that all of the foregoing can only offer a platform for further trader development. By and large, success as a trader will be a direct function of one’s willingness to study price action on hundreds if not thousands of charts, available at the push of a button in an decent charting package. For the evidence is clear: the markets are not particularly forgiving to those who take their education too lightly or deem themselves above it. But the odds are excellent for all parties who embrace a more diligent approach”

Diligence, a key word here.

..and in his first book:

“…a trader’s education never stops. Even when taking a serious liking to the method offered in this book, the necessity of countless hours of studying, testing, and verifying on historical as well as current charts should be taken to heart.”

Jack Schwager said it wisely that “there are a million different ways to trade, but all of them are hard to find”. How do you deal with things that are difficult? Be diligent.
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ok my dear friend.
we got it.

every one got it.?

in fact i got it 20 years back

ok GUYS YOU KNOW WHAT TO DO.

DO IT

MILLIONS ARE WAITING
 
Georgii said:
When dilettantes get criticized they get defensive. When professionals-in-training get criticized, they take the constructive criticism with humility and get to work.
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There's a problem with this.
First, there's a very fine line discerning who is a dilettante and who is 'serious'.
Secondly, who of us can judge? Who of us is professional enough to give advice.
Even professionals are flawed.
Traders are such, they come in all shapes and sizes.
My wife for example has only been trading a few short years but far exceeds me in trading profits.
She breaks every one of my style trading rules, but there is something she gets right because of the results.
 
Georgii said:
Because if you don’t have capital you don’t have a business
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you cannot do a business with topstep capital.

YOU DONT GET IT.

DO YOU?

it is impossible to have a business with topstep

I JUST TRADE

it is impossible not to blow your account even if you are the best trader who ever lived
 
padutrader said:
all the information is available to everyone
so where is your edge
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I take you to Jack Schwager’s quote on there being a million ways to trade. You can take many different approaches to the same available information. But those approaches need to be found, and it is not easy.

Fortunately market concepts are pretty well researched. You need to find one or two that make sense to you and then take your market and research it. This is where the hard work comes in: see if you can use that concept on the data you have. Without looking at the data you won’t be able to see it.

You like trading breakouts? Okay. Read everything you can about breakouts. Then look at charts and find how breakouts happen. Study them. Realize some you will miss no matter how clever of a strategy you come up with. Ask what happens when you enter early, when you enter with confirmation. Find what times tend to work better. Find if there are any indicators that can be helpful in quantifying breakouts and managing the trade. Get to work. You won’t become successful until you spend many, many hours doing this.
 
Georgii said:
If you lack capital, forget TopStep
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i cannot forget top step i cannot forget trading.

want to trade and i cannot trade with 49 usd a month as capital except with TST.

now have you finished wasting your time coaching me

go trade i know you are damn good trader
 
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