WHAT IS A SECOND ENTRY ?

[padutrader]

Brooks and everyone keeps focusing on structure and set ups and risk management.

but the elephant in the room is context. that trumps everything.

i concentrate on context and that is the reason for me doing better.

of course i know all the other stuff.

and that is what is filled in books and lessons.

Brooks trades by context but he does not mention/explain this so traders think he trades by set ups because he is always talking about it

 

[Laissez Faire]

I hold myself to a very high standard and maybe I have too high expectations. What I've come to realize from participating in various forums is that I'm a far better trader than I've given myself credit for as I'm now at a place where losing days are rare and I usually know what to expect on any given day.

Trading can become KISS through experience (thousands of hours of screen time and focused experience + thousands of hours of back-testing/studies of your chosen market).

Anyone who's studying trading books after 10 years is very much a newbie. This may sound harsh, but it's just the truth. Most trading books are garbage by failed traders. At best, they can inspire and guide you towards actual learning, but that learning needs to be done through the market, not the book.

But of course, if anyone is making good money using Al Brooks, who am I to argue.

 

[ironchef]

I hold myself to a very high standard and maybe I have too high expectations. What I've come to realize from participating in various forums is that I'm a far better trader than I've given myself credit for as I'm now at a place where losing days are rare and I usually know what to expect on any given day.

Trading can become KISS through experience (thousands of hours of screen time and focused experience + thousands of hours of back-testing/studies of your chosen market).

Anyone who's studying trading books after 10 years is very much a newbie. This may sound harsh, but it's just the truth. Most trading books are garbage by failed traders. At best, they can inspire and guide you towards actual learning, but that learning needs to be done through the market, not the book.

But of course, if anyone is making good money using Al Brooks, who am I to argue.

You are one of the good guys on ET and I always respect your opinions, usually no BS and direct, always quite helpful.

Keep it up sir.

 

[ironchef]

Brooks and everyone keeps focusing on structure and set ups and risk management.

but the elephant in the room is context. that trumps everything.

i concentrate on context and that is the reason for me doing better.

of course i know all the other stuff.

and that is what is filled in books and lessons.

Brooks trades by context but he does not mention/explain this so traders think he trades by set ups because he is always talking about it

Sir, can you explain what exactly is context?

 

[Georpe]

Trading can become KISS through experience (thousands of hours of screen time and focused experience + thousands of hours of back-testing/studies of your chosen market).

Anyone who's studying trading books after 10 years is very much a newbie.

At best, they can inspire and guide you towards actual learning, but that learning needs to be done through the market, not the book.

I agree with all of this.

Everyone should hold themselves to a high standard and I imagine many trading resources probably are garbage. I just find it interesting how polarizing Brooks is, while I don't see the same regarding Edwards & McGee or others with similar concepts presented in different ways.

Lots of unprofitable traders insisting he's a genius for some reason, and lots of unprofitable traders insisting he's full of shit and a fraud. Some will trash the way he views the market, while they use the same or similar concepts without realizing it.

It appears that most retail traders are too lazy to put in work regardless of what method they choose. And many apparently believe there is just one holy grail and one way to think. Different minds work in different ways, and there is more than one way to make money in the market.

It was not my intention to attack your trading, it just seemed silly you were contradicting yourself about keeping it simple.

Anyway, I've rambled on enough. Back to Padu's worship of Brooks before he blows the account . Happy trading, may the profits continue.

 

[murray t turtle]

Yes. 100 % agree. It's much better to actually study the market. Back-test/back-check, forward test, back to the drawing board, rinse and repeat.

I'll add that for all we know, it's quite possible @padutrader is even a better trader than Al Brooks already.

%%
LOL. Actually I did see an Al Brooks chart i liked in a trading MAGazine;
I did not buy into his books, i 'm still rereading Ray Dallo Stan Drunkenmiller+ Paul Tudor Jones in Jack Schwager............................................................................................
Back to chart$, giving + business ;
+ buys + sells in ETFs.....................................

 

[ironchef]

%%
LOL. Actually I did see an Al Brooks chart i liked in a trading MAGazine;
I did not buy into his books, i 'm still rereading Ray Dallo Stan Drunkenmiller+ Paul Tudor Jones in Jack Schwager............................................................................................
Back to chart$, giving + business ;
+ buys + sells in ETFs.....................................

I am too cheap to buy his books or buy his courses. Free YouTube, yes but they were not too useful. Dr Brooks' method is too complicated, I am not as smart as him, can't trade like him.

Can't trade like Ray D or Stan D or Paul J either.

 

[murray t turtle]

I am too cheap to buy his books or buy his courses. Free YouTube, yes but they were not too useful. Dr Brooks' method is too complicated, I am not as smart as him, can't trade like him.

Can't trade like Ray D or Stan D or Paul J either.

%%
Exactly;
i did not mean exactly. Just some good Ray D + Paul t Jones trades = duck shot pattern fragments.
The metals dealer prices iron close to steel. Not exactly, mostly.
I got some better deals[1st, 2nd] entry on US and Asian tools since we posted about US tools
ETFs buy + sells tend to do more than 1 or 2...........................................,

 

[padutrader]

Anyone who's studying trading books after 10 years is very much a newbie. This may sound harsh, but it's just the truth. Most trading books are garbage by failed traders. At best, they can inspire and guide you towards actual learning, but that learning needs to be done through the market, not the book.

BULL SHIT
you have to learn all the rubbish first before you can develop your own method

all TA teaches bar charts.

Brooks reads BARS.

 

[padutrader]

Dr Brooks' method is too complicated

it is not complicated.... it is simpler than most.

but to explain simple things, it is complicated.

it took me 20 years to understand him not because it is complicated it is because it is too simple.
humans cannot process simple. THEY COMPLICATE EVERYTHING.

see whole of TA

Brooks focuses on one 5 minute bar. ONE. can you get more simple?.

when he teaches traditional TA that is complicated.

his stuff is simple