Futures I Trade Show & Brooks Book

[bakrob99]

Originally Posted by thalestrader You could have made your above post both interesting and useful had you included at least a description of how a Brooks trader would have approached the EURJPY, and maybe even some charts. I would have greatly enjoyed that post. As it is, it just comes across as being mean spirited. Thales

That is why I deleted it after I had posted because as I read it, it came across not in the way I meant it to be . I apologize for any offence. I was going to take some time to post additional input - but I got in a trade and had to manage it so ... I just deleted the post. You had obviously read it before my deletion came across. Sorry.

Bakrob

[thalestrader]

Originally Posted by bakrob99 That is why I deleted it after I had posted because as I read it, it came across not in the way I meant it to be . I apologize for any offence. I was going to take some time to post additional input - but I got in a trade and had to manage it so ... I just deleted the post. You had obviously read it before my deletion came across. Sorry. Bakrob

Ok, no problem. If the mods want to delete these posts it is fine with me.

Best Wishes,

Thales

[jolee]

Originally Posted by davewolfs In this example, which bars would be the H2 and H3 between the H1 and H4?

I'll try .... I see...

[ACS]

Originally Posted by jolee I'll try .... I see... Attachment 12077

When I listen to the presentation, Dr. Brooks seems to count them so that your blue H1 is H2 and your second blue H2 is H3, he does not seem to count the others you have marked. Knowing which colored candles are countable H/Ls seems one of the trickier parts of his methodology although I think looking at a smaller time scale would make the valid ones more apparent.

[davewolfs]

Originally Posted by jolee I'll try .... I see... Attachment 12077

Thanks for responding. The bar that you have labeled as H3 is an up bar but does not have a higher high then the previous bar, is this still considered an H type bar?

[mbfromla]

Hi guys,, here are my today's trades,, these are not an analysis ,,instead trades that i took. Not all entries are perfect, and was definately a very difficult market to trade.
I didn't trade after Lunch time had to take a napster.

I was thinking alot about max P/L, some suggested having max loss of 3 points and max profit of 2 points. I think it's more reasonable to go for 3 point max profit and 3 point max loss.
That way if you trade 10 contracts and have Weekly P/L
1. No loosing days will make $7500 minus comissions.
2. One loosing days Will make $4500 minus comissions.
3. Two loosing days Will make $1500 minus comissions.

Having one loosing day a week is reasonable, 2 is acceptable as well.
It will be easyer to acheave if you let half ride beyond 4 tick scalp.

Any comments or suggestions will be apreciated. My email is job858@yahoo.com

[szubaark]

3 trades.. +3 I stopped after this so i woudnt give it back.
All Targets Reached withis first hour

Brutal Chop at day high, glad i stayed away from it.

[thalestrader]

Originally Posted by mbfromla I was thinking alot about max P/L, some suggested having max loss of 3 points and max profit of 2 points. I think it's more reasonable to go for 3 point max profit and 3 point max loss. That way if you trade 10 contracts and have Weekly P/L 1. No loosing days will make $7500 minus comissions. 2. One loosing days Will make $4500 minus comissions. 3. Two loosing days Will make $1500 minus comissions.

I would suggest that such thinking usually (if not always) leads to disappointment, if not ruin.

Focus on learning to trade price action, focus on risk/reward (which means focus on position size relative to account size relative to the risk of the trade if you are stopped for the maximum loss), and the profits will take care of themselves.


I wish you well,

Thales

[rangerdoc]

Originally Posted by davewolfs Thanks for responding. The bar that you have labeled as H3 is an up bar but does not have a higher high then the previous bar, is this still considered an H type bar?

Yes, because the previous bear bar counts as a pullback. This is explained in the first webinar video, "Short-Term Emini Strategies That Work". A Link is posted earlier in this thread.

[rangerdoc]

Originally Posted by thalestrader I would suggest that such thinking usually (if not always) leads to disappointment, if not ruin. Focus on learning to trade price action, focus on risk/reward (which means focus on position size relative to account size relative to the risk of the trade if you are stopped for the maximum loss), and the profits will take care of themselves. I wish you well, Thales

This is extremely important advice. Focus on trading well, not on making money.

A surgeon isn't thinking about the new golf clubs he's gonna buy with the money you're paying him while he's in the operating room. A pro athlete isn't thinking about the money he's making while on the field. He's focusing on playing well. And I sure as hell wouldn't hire anyone who was thinking about his paycheck all day long instead of focusing on the task at hand.