[sw9]

Originally Posted by DynamicFx »

Can I please just ask a quick question.

Is Al Brooks' book applicable to trading forex? Can his 5m chart techniques also be applied to 60m forex charts for example? Does he mention forex at all?

Thanks.

Welcome to Reality,


Yes, the Price action only approuch works on all markets and all time frames.

Why? because all markets are based on Price action.

Anyhing past this point is optional and will add complexity and illusion.

Steve

[ACS]

Originally Posted by DynamicFx »

Can I please just ask a quick question.

Is Al Brooks' book applicable to trading forex? Can his 5m chart techniques also be applied to 60m forex charts for example? Does he mention forex at all?

Thanks.

He says it works on all markets and timeframes. I don't recall any Forex charts in the book but on page 257 he writes: "Currency Futures and the Forex, and Treasury Bond and Note Futures can handle huge volume but give fewer entries than the Eminis on most days." Hope this helps.

[Kiwi]

I would give a slightly different answer to the forex question.

Markets tend to behave slightly differently (so, bund trends for more pullbacks then estx for example). The explicit method here is tuned for US equity indexes. To get the most out of it in another market you would need to tune it to that market.

I trade something quite like Brook's method and have traded it on HSI, then SPI, and STW, and now back to HSI. I originally started it on GBL and Eurofx during the european session. At each step it has evolved slightly ... and to my surprise the version I trade on HSI now isn't quite like it was before I traded SPI and STW. Markets change too.

[Maletor]

Trading is fractal. Anything that "works" works on all timeframes and all efficient markets.

[sw9]

Originally Posted by Maletor »

Trading is fractal. Anything that "works" works on all timeframes and all efficient markets.

Simplicity is a hard sell.


Opportunity in all markets and time frames is derived from the order flow.

There are only two entry setups to enter that order flow, a breakout or a pullback.

Ect.

[Mr_black]

Here is long with trend setup for EURUSD pair

[kuky969]

Originally Posted by thetatrader »

Well yesterday marked my first 4 weeks of sim trading with No indicators. I've been trading 2 contracts scalping one and letting the other run. I had 14 winning days and 4 losing days and 2 days did not trade. After 151 round turns I am up $1,585.5 after com. not to bad for my first month. My worst day was trading b/w in week 2 with a $475 draw down and 22 round turns, the most round turns in the month. one other day I trade 20 round turns, and was -12.50 for the day + com.

Best Lessons of the month,
1 If I am looking really hard for set up, I need to just take a break.
2 Don't trade B/W (some one posted that B/W only starts after noon and around the 20.EMA) that leads me to the last lesson for the month.
3 I Don't tell the market what to do it tells me what to do.

Today Is my first day of my next four week cycle and a nice start 7 round turns and +$550 I am done not giving any back today.

Thetatreder
thank you. I would like ask you to post some of your trade .It would be very useful for me. Thank.

[DynamicFx]

Originally Posted by Mr_black »

Here is long with trend setup for EURUSD pair

The setup you've shown is very similar to what I'm working with at the moment. I've watched one of the flash videos on this thread, and was a bit confused with the L1-L2-H1-H2 labeling, and didn't want to add any noise to what I was already doing. But if the book is basically what you've shown here, I might have a look at it.

I've attached a chart of what I'm looking at now for example.

Thanks.