Two Questions For Practicing Day Traders

[padutrader]

it’s easy said

did the easy part.....understand second entries and the other part is done too.
the reward is huge compared to the risk and if the risk- stop- is hit it sets up a trade in the opposite direction.... it is dream come true for any trader. tight stop-small risk-with huge reward

 

[ironchef]

in trading real money is involved.
but when you drive on the road your life is involved. why are you not terrified for losing your life? you drive without fear. you have been taught to drive you have been trained to do it in certain way.
the key in trading is not to fear losing or even aiming not to lose BUT to lose little and win big.
well you get the idea.
how do you do that? trading 2nd entries is one way. a second entry is a second trade wiith the same logic as the first where the first did not actually work out and 'failed'.

for eg you get a break out which then fails and becomes a BO pull back which then breaks out a second time.
the blue line are the second entries that worked the red are those that failed and note that these failures became good entries in the opposite direction. Lose little win big.
now you tell me is Brooks complicated?View attachment 324658

Is this one minute stock price chart tradable:

 

[ironchef]

Or this:

 

[p0box4]

in trading real money is involved.
but when you drive on the road your life is involved. why are you not terrified for losing your life? you drive without fear. you have been taught to drive you have been trained to do it in certain way.
the key in trading is not to fear losing or even aiming not to lose BUT to lose little and win big.
well you get the idea.
how do you do that? trading 2nd entries is one way. a second entry is a second trade wiith the same logic as the first where the first did not actually work out and 'failed'.

for eg you get a break out which then fails and becomes a BO pull back which then breaks out a second time.
the blue line are the second entries that worked the red are those that failed and note that these failures became good entries in the opposite direction. Lose little win big.
now you tell me is Brooks complicated?View attachment 324658

It's easy to put some lines on a chart after the fact, everyone can do that, even my 3 year old.

 

[Jzwu2017]

did the easy part.....understand second entries and the other part is done too.
the reward is huge compared to the risk and if the risk- stop- is hit it sets up a trade in the opposite direction.... it is dream come true for any trader. tight stop-small risk-with huge reward

It’s a good strategy. Nothing works in trading 100%. Market changes all the time, even within each day. Traders have to constantly assess the situation and adapt accordingly. That’s the hard part.

 

[tiddlywinks]

Of course those 2 charts are "tradable"!

But IMO, those charts, and therefore analysis and probabilities are limited and dis-advantaged.
The charts utilize 1 of 5 available variables, plus time. That's at minimum, an 80% data deficiency. There is at least one derivation that can be obtained through time and movement of price. NB: price as a value is not a variable... the exact(precisely) same chart could occur at any equivalent range of pricing.

The five (readily available) variables are, Open, High, Low, Close, and Volume, plus Time.

Elsewhere you speak of using Markov as basis for your test data...
the problem with Markov, as far as I am concerned, it does not account/consider history; As they say, memoryless.

How YOU interpret is a choice.

That men do not learn very much from the lessons of history
is the most important of all the lessons of history. ~~ Aldous Huxley

 

[padutrader]

Nothing works in trading 100%

nothing in life works 100% and when it does not, make sure you survive that loss and no one has the responsibility to give you a funeral.

the only thing that matters is small losses at extremes of trends so that it is clear if your long trade loses then the short side will give you more than you lose on the last trade......... if your long trade loss does not give you a short with a huge profit then your long was too high..... second entries are GOD'S gift to traders

 

[padutrader]

It's easy to put some lines on a chart after the fact, everyone can do that, e

that is why i do it and take action on it and make money......... everyone can do it but does not and says Brooks is too complicated

 

[padutrader]

Is this one minute stock price chart tradable:

it is my belief that you cannot trade one minute charts manually.....and why on earth would you want to trade 1 minute?
why force yourself to work fast. When you do not benefit

 

[padutrader]

Or this:

View attachment 324668

second entries... God's Gift to traders