brooks often talks about narrow and broad channels.............while narrow is obvious on a chart it took me quite a while to understand what a broad channel is.
Tribute to Brooks
- Thread starter padutrader
- Start date
Price action can be described as Brownian motion. You cannot trade it profitably because it is a non stationary geometric random walk. You can try and you might even be lucky sometimes, but you’re just as skillful as a guy sitting at a slot machine in Vegas (hint: not).
Brooks talks about wedges pull backs breakouts ,break out failures...and has written countless articles and produced 1000s of videos.
and you tell me all that is rubbish? everything is rubbish?.
more likely you are rubbish
PA cannot be described as BROWNIAN MOTION and you decide it is random.
here is a billionaire with an answer to YOUR rubbish
If market was random i would be a bum with tin cup:Buffet.
the broadening pattern is the most difficult pattern to read in real time and is also the most common one occurring: the irritating thing is that there are no clear boundaries and so stop placement becomes a night mare.
it is a ending or reversal pattern but sometimes occurs as a continuation pattern too.
all reversal patterns are continuation patterns more often than they are reversal........you can only label them as reversal after the fact.....which makes counter trend trading so deadly
small wonder that 95% of novice traders lose
it is a ending or reversal pattern but sometimes occurs as a continuation pattern too.
all reversal patterns are continuation patterns more often than they are reversal........you can only label them as reversal after the fact.....which makes counter trend trading so deadly
small wonder that 95% of novice traders lose
Last edited:
So your issue is revealed, it's not "gurus" , it's your lack of understanding of price behavior. Nothing wrong with that, it takes substantial time and effort to do so. There have been a steady supply through the years of those holding your view on ET which is an odd but not unusual viewpoint on a traders site. Typically they either have not put in the work to understand enough about price to develop an edge and employ that edge into a viable trade plan or they have simply failed at trading for any number of reasons and find solace in believing that it is not possible for anyone.
My problem is it discourages those working to learn to trade. I don't encourage people to get into trading as I understand the difficulties in mastering a demanding profession, it took a lot more than most of us anticipated but I don't discourage those who may have the work ethic and persistence to succeed.
Both, the former represents opportunity upon which the latter, price behavior must be understood.
And in the latter you don't take every "bar-setup"...
No, one of the challenges in learning how to trade is developing the recognition and understanding of the context in which setups occur.