For swing trading, this is absolutely the way to go, but for day trading, since the range may be small (you never know) and the chances to add are limited in may days, you might have to do the opposite, i.e. take the largest position first, and eliminate/reduce when wrong (before stops), but hold the entire lot if proven correct. Very difficult to do this in emini day trading though, since you will wrong scratch a lot and commision/slippage will eat you alive. See Phantom of the Pit about this.
FYI - Dr. Brooks will be presenting another Futures Magazine I-Trade live webinar on Dec. 8-9. The announcement, copied from http://www.futuresmag.com/micro/i-trade/2009/12/default.aspx "Once again day trader Al Brooks will present, this time showing how he relates the e-mini S&P price action of the first hour of the market open to that of the final hour of the prior day. He'll detail breakouts, breakout pullbacks and failed breakouts, and he'll show how based on the opening read how he's able to catch a good swing off the likely low or high of the day." Registration is free at the above link for anyone interested.
Seeing as I discovered the source of your 'hidden' treasure, I'll take that as a complement. And, btw, who said rhino success was a bad book, there were many truths in it. Develop a skin like a rhino and gravitate to the top. And truth be told, I like your book better than brooks, so there.
why would anyone with half a brain want to waste time listening to a "dr" talk about trading..for he is no different than all the other idiots who try to sell information to mr and mrs gullible:eek: "catch a good swing off the likely high or low of the day" i suppose next u will be tellin us that his little book shows all the little secrets..jeez..how dumb most people are..really as for my excerpts..and the like..well..i have a little surprise for ye all..it is all bullshit..and when u understand why..then and only then will u start to take money form the dumb ass traders..many of whom live on this site stop acting like little children and learn what trading is really all about..and u will not find it in any book..anywhere..and that is the best bit of advice u will ever get about trading..if u have half a brain to stop and actually think about what it is i am talking about.. oh..sorry if i offended the little traders here..as they seem to think that everyone must be nice and civil to them..well..keep thinking like that and u will never make money trading..u might as well hand ur hard earned cash over to fat arse lazy bastards first thing in the morning..as they will get if from u anyway..and laugh at you all the way to the bank dr me arse..what a fuked up society we live in..really
ahh..maybe i was wrong once again..but u see..i am used to being wrong..that is why i am always right when it comes to closing time will take a look at ur hard skin little book..who knows..maybe it was one of the gems i missed..stranger things have happened:eek: apologies
Wow, dude - who pissed in your Wheaties? I certainly didn't mean to stumble into your little world of insanity. But since I'm here, may I suggest you seriously consider seeking professional help with all that inner rage. You do realize it will eventually consume you? But come to think of it - carry on, bro. No doubt the world would be a bit better place w/o ya. And thanks for that final reminder to myself to delete the ET bookmark. This place is like a bad habit - one that I need to break. And I say this only to save you the effort of pounding out a retort (as in those crazies on YouTube, who are screaming and pounding their keyboards - lol) See ya, bucko.
I worked my way through first chapter.. before I continue I want to know if it is worth it? does the author actually trade? a lot of it seems like cherry-picking to me.. I'm still skeptical