Trading the ES live-the Brooks way

HawaiianIceberg said:
If you're trading an H4 or L4, you likely misread the situation.
H1 Fails, OK it's a PB
H2 Fails, OK it's a 2 legged PB
H3 Fails, Uh oh, 3 legged PB, likely misread things
H4 Fails, SHIT, wish I faded that weak H1setup

Padu, if you only traded the 1-2 SPBTs a week, you would be well off. Easiest read there is IMO

What do you think are Brook's most simple setups? What would he tell a beginner to do? The answer definitely wouldn't be scalp..
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Brooks says if a Trader could restrict himself to trading only major and minor Reversals, Pullbacks in a strong Trend, and Scalps in Ranges, they would be very successful.
 
Wide Tailz said:
There is a very experienced trader on this very site, who still posts occasionally, who recommended doubling your money first using the weekly charts only, then move down to daily, then hourly, and finally the daytraders timeframe.
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For my long term trading, I use all of the above, with exception of 2 minute timeframe, I look for reductions of volume, once hedge funds reduce selling as markets goes up, I turn to two minute charts looking for chart patterns to hedge first then sell futures.

I also have 60 minute system on trendlines hedged.

I generally use 5 and 2 minute intraday, go for makeable small profits for daily goal, let account say when to increase size. I use $5,000 profits equal 1 more contract. ES is good but I also like Crude and Live Cattle.

Hedging allows for many losing trades on futures side but recover loses and make couple hundred more on options, so profits on overall futures losses.
 
The most basic Trader here is SML. All he seems to be doing is Scalps in strong Trends.

Seems like a plan if you are prepared to watch numerous Markets.

Just click click click Baby!
 
Brooks says, if the 5 minute is in a strong Trend, don't go back to the 1 minute looking for a Pullback.

I don't quite get that. It seems the logical solution.
 
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