Futures I Trade Show & Brooks Book - Page 11

thetatrader · 06-10-2009, 10:50 PM

Nice trading day I have been trading Al's patterns on a demo account for about a week. (first 90mins of trading day). Today was a big gap day and I know that the market trends most of the time after a big gap. so I shorted the low of the first bar (it was a trend bar not a doji) and added to the position at the low 1 and was done for the day. with nice profit. Al says in the book that it is okay to take High 1's and low 1's if the market is in a strong trend witch is was all morning.
I am almost done with his book and when I finish I will start from page 1 and go over it in much more detail. Hopefully then I will be able to contribute more.

roger304 · 06-11-2009, 01:42 AM

Hey Guys, Here is a powerpoint presentation by Al last may at the I show. The charts are very clear and you can print them off. I think this is his first one.
Let me know how you like this one.
Roger

Zan-shin · 06-11-2009, 07:39 AM

Quote:

Originally Posted by roger304 »

Hey Guys, Here is a powerpoint presentation by Al last may at the I show. The charts are very clear and you can print them off. I think this is his first one.
Let me know how you like this one.
Roger

Thanks Roger. I am finding his H1 and L1 definitions a little confusing. On slide 8 of the presentation he states that H1 = 1st bar in a DOWN or sideways market but in his book he defines H1 as occurring in an UP or sideways market. On p120 of his book, fig 4.16, he has H's and L's both annotated in an uptrend and H1 to H4 in a down trend.

Gabe2004 · 06-11-2009, 09:28 AM

This is my attempt at marking H/L 1/2's.
Feel free to point out mistakes.

thetatrader · 06-11-2009, 09:54 AM

zan-shin
Right from the book: High 1,2,3,4 A High 1 is a bar with a high above the prior bar in a correction in a up or sideways market. If there is then a bar with a lower high (it can occur one or several bars later), the next bar in this correction whose high is above the prior bar is a high 2. the third and fourth occurrences are a H3 and H4 there are other variations as well.
I think there is a lot of gray area in the labeling of these. My take is if the market is moving down or sideways you keep labeling the highs above the prior bar in order 1,2,3,4, ect. and if the market is going up it would be H1 and H2 and the H2 is just the first pull back in the new up.
I am fairly new to Al's stuff and terminology so I could be corrected.

Al's also say don't get cought up in names like shooting stars and high moon dragons and things like that because they offer no trading value.

roger304 · 06-11-2009, 11:08 AM

Quote:

Originally Posted by roger304 »

Hey Guys, Here is a powerpoint presentation by Al last may at the I show. The charts are very clear and you can print them off. I think this is his first one.
Let me know how you like this one.
Roger

As a side note on this. He did have audio with this like the current I- show but I didn't have any way to record other than a little microcassette recorder. It would be nice if I-show could post that presentation upon request now so you guys that recorded the others in MOV could get the sound too for it.

YMoca · 06-12-2009, 01:47 AM

Hi,

Just found this thread and am in the process of reading Al's book and learning his setups.

The book is definitely a tough read

Here's a few other articles I found by Al written for Futures Mag.

Cheers
.

Zan-shin · 06-12-2009, 08:15 AM

Quote:

Originally Posted by YMoca »

The book is definitely a tough read

I am finding it a tough read too. Been trading for over 10 years and definitely in the "serious" category but this book is going to take a while to digest.

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