Tribute to Brooks

[padutrader]

View attachment 270558

India Nifty on 2 Nov 2021.
the day range was very big actually.


the market was very choppy/erratic.
This is the type of market which I am 100% sure
I will lose money trading it.

Characteristics of choppy market
- movement is very choppy/chaotic; no clear/nice pattern.
- thousands of false signals
- lots of whipsaws. after you enter the trade, you get stopped out.
Then the market moved massively in your favor.


OK. you like choppy market.
It is not for me.

there is a special way to trade this sort of market. brooks teaches it and so do others.

i think 70% of the time the market is similar to this.

use very wide stops scale in....and get out near previous highs/ lows.

when you see moves with both bull and bear bars alternating and then you get 5 bars of same color you start fading it with wide stop and plan to scale in 2-3 times.

you have to but below bars and sell above bars

it is quite simple if you do this

 

[padutrader]

Some people get consistently profitable in 1 years, some take XX years.

some never

 

[padutrader]

slowly i am beginning to understand brooks.

there is, most of time, a bear case and a bull case.

in a strong trend either the bull or bear is obviously the one to take...but 70% of time it could be either.

 

[maxinger]

View attachment 270558

India Nifty on 2 Nov 2021.
the day range was very big actually.


the market was very choppy/erratic.
This is the type of market which I am 100% sure
I will lose money trading it.

Characteristics of choppy market
- movement is very choppy/chaotic; no clear/nice pattern.
- thousands of false signals
- lots of whipsaws. after you enter the trade, you get stopped out.
Then the market moved massively in your favor.


OK. you like choppy market.
It is not for me.

now compare India Nifty with today's crude oil chart.

crude oil movement is decisive.

 

[maxinger]

there is a special way to trade this sort of market. brooks teaches it and so do others.

i think 70% of the time the market is similar to this.

use very wide stops scale in....and get out near previous highs/ lows.

when you see moves with both bull and bear bars alternating and then you get 5 bars of same color you start fading it with wide stop and plan to scale in 2-3 times.

you have to but below bars and sell above bars

it is quite simple if you do this

right.

alternatives could be
- use a bigger time frame / volume chart
- use bigger stop
- trade other intercorrelated futures which are not choppy
- don't trade at all

 

[padutrader]

right.

alternatives could be
- use a bigger time frame / volume chart
- use bigger stop
- trade other intercorrelated futures which are not choppy
- don't trade at all

right

i like: do not trade until it becomes clear....why trade difficult situations

 

[SimpleMeLike]

View attachment 270558

India Nifty on 2 Nov 2021.
the day range was very big actually.


the market was very choppy/erratic.
This is the type of market which I am 100% sure
I will lose money trading it.

Characteristics of choppy market
- movement is very choppy/chaotic; no clear/nice pattern.
- thousands of false signals
- lots of whipsaws. after you enter the trade, you get stopped out.
Then the market moved massively in your favor.


OK. you like choppy market.
It is not for me.

That chart looks perfect for me to make money.

 

[SimpleMeLike]

now compare India Nifty with today's crude oil chart.

crude oil movement is decisive.


View attachment 270579

That chart looks perfect for me to make money.

Both charts you posted are Easy to make money from. If you post another chart, I will say it easy as well. Every chart is VERY easy to trade and make money.

 

[SimpleMeLike]

there is a special way to trade this sort of market.

Hello padutrader,

There is no "special way" to trade that kind of market. Because you do not know what kind of market it will be when you wake up in the morning.

As an Al Brook student, you need to learn and love to trade any chart presented to you at any give time the chart is shown. That is why its called bar by bar analysis.

Go to Brooks webinar he does live everyday.

 

[padutrader]

Because you do not know what kind of market it will be when you wake up in the morning.

you should KNOW it is going to be that kind of market... from the PA the day before........that 'kind of market does not fall out of the sky.
and there is a special way ......enter on limit orders scale in and keep very wide stops