Tribute to Brooks

[padutrader]

closed trade for a loss

i used to do this a lot with my exits and also entries.......exit a trade because it does not feel right and enter a trade because it feel right.

trading by instinct as one of my friends used to say.

the problem is instinct cannot be defined and so may not be repeated......

.and if you trade by instinct you just do not know where you are wrong and so cannot put a stop. i traded for years by instinct and no stop because i had no logical place to put a stop so i put none.

the result [ mine ] is well documented here in ET.....

 

[padutrader]

there are two channels here, a bull channel and a bear channel.....the blue line is the channel line, copied and dragged from the yellow trendline.

are the two same? the bull channel is made up of a lot of overlapping bars compared to the bear channel which is made up of all bear bars closing at the low with no overlap...the bear channel is obviously a lot stronger so i am holding on to my short even though what may be called a wedge triggered.View attachment 252234

short open UPDATE

i believe this is the channel in play now

 

[padutrader]

long gold.... second entry long so better probability View attachment 252238

stopped out

 

[padutrader]

sold gold

 

[padutrader]

the bear channel is obviously a lot stronger so i am holding on to my short even though what may be called a wedge triggered.

i realise my mistake now....

that bear channel was strong but it was too strong[!!!!!!!!!] and it was after a deep pullback to the top of the range, so it was most like a strong move in a range
missed all that: as is often the case when you celebrating a big profit in a position


i should have booked and looked to enter again later

 

[padutrader]

sold gold View attachment 252242

closed for a loss
too much whipsawing.....

 

[padutrader]

short open UPDATE

i believe this is the channel in play nowView attachment 252241

closed.....could not understand what the market was doing
have no positions now

 

[tony.m]

could not understand what the market was doing

Shame on Brooks, is this how he rewards his students after 13 years of hard work.
Scam artists like Al Brooks should be flogged in public.

 

[maxinger]

closed.....could not understand what the market was doing
have no positions now

I mentioned before that you like to trade those
very-difficult-to-earn-money products.

My level is not there. So I trade
very-easy-to-earn-money products and avoid
very-difficult-to-earn-money products.

 

[maxinger]

Shame on Brooks, is this how he rewards his students after 13 years of hard work.
Scam artists like Al Brooks should be flogged in public.

That is an interesting viewpoint.