Tribute to Brooks

padutrader said:
trend development or trend cycle ,as brooks calls it, is critical: it is necessary to understand where the market is wrt to trend cycle.
once there is a pb, which brooks defines as as one bar going [ in a bull trend ] above a high of a bar, then the market starts channeling

if this channel is tight then in a bull you can only buy.

once it gets wide you can trade both ways.

once it gets wide, traders will buy all strong bear bars and sell all strong bull bars.

if that is done you cannot put a tight stop. i use a catastrophic stop. since we are in a range or channel it is unlikely that there will be follow through and any follow through will be a 2-5 weak bars. ideal for scaling in.

if the follow through is strong-the unlikely or low probability event-then it means the market is no longer in the channel and you close and reverse.

this is simple stuff.



all it takes is a little understanding of market , confidence in your knowledge commitment ....and a decade or two of live practice.

it is trading the market, reading the market, without having an opinion, of where the market should go.

better lose your opinion than your money.

you do need a sprinkling of context to spice up things:that is provided by the trend cycle

i do not wait for setups .........
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Hello padutrader,

What is your detailed trading plan for Exiting all of your trades for a Profit or Loss?
 
SimpleMeLike said:
Hello padutrader,

What is your detailed trading plan for Exiting all of your trades for a Profit or Loss?
More...

too long to explain.

i do not think it is possible to detail something complicated and subjective like trading.........in a forum post.........if that were possible why would brooks write 4 books and produce over 20000 hours of vids

i mostly trade h2 and l2 close to ema, so exit far from ema or when a second or third signal in the opposite direction occurs, and mostly reverse, trend weakening signals after measured moves

wedges ,when market goes past break out points indicating weakening of trend.....trend signals at extreme of ranges........like h2 at top of range......most are entry signal in the opposite direction

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if you see the charts where brooks marks up after market closes...blue boxes and red boxes so enter on one color exit on another color.

since brooks clearly says he targets the experienced trader he expects you to think a little for yourself
 
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