Tribute to Brooks

brooks is not like other authors ...you cannot just read and trade........

there are a lot of things that you think you understand ...but it is not actually so.

still it is worth going through the pain because finally the skill you acquire, is far greater, than you would get, anywhere else
 
the high probability trade-the obvious one-is a sell......because it is high probability it needs a big stop...because it is high probability the reward is small......this is consistent with the fact that we are in trading range market more than a trend
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why do 95% of traders lose money? they ask where is the market going? wrong question. correct one: what should i do to make money.

that is why brooks does not give stop target....there are always two trades at any given time and two probabilities.



Trading is a tale of two probabilities
 
so what i do is wait for a high probability trade and then because i do not like scalping i wait for another move and then when the trade signal comes i take that.
 
for a successful trade probability stop and target must match.

most traders who lose or are inconsistent consider stop and target without probability and this is where the frustration starts....i am doing everything i am told but i still lose money.

well only brooks talks about probability.........
 
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