My knock on brooks is he glosses over a ton of shit / problems that anyone who is not lying to themselves will encounter while trading. You don't hear him talk about taking losses, like ever. He has you believe he never has a losing trade just wins and "scratches" whatever that means. But you're an absolute fool to believe that you can go "many many days" as al puts it, without a losing trade. (ESPECIALLY trading a 5 minute chart) The market is far too competitive for that nonsense. Anywho, its a good way to learn what this price action stuff is all about, take what you learn and make it your own over time.
Is 70% win rate considered high for doing spreads? I always think of spreading as selling options premium … high win rate until things go real bad. What is expected avg win vs avg loss? Very hard to have strong edge doing liquid instruments like most Futures are, no?
Any chance the ES is highly manipulated by Algos like Forex? Designed to catch the Retail? Better off Day Trading Stocks?
I wouldn't consider selling options premium as a legit "spread". In fact, that's just pure directional risk. That's something I personally wouldn't be comfortable doing. Think of spread trading as betting on the convergence or divergence between two or more very highly correlated products. We happen to use future, because the futures exchanges make very favorable margin credit allowances.
So Animal Al Brooks is OK to learn from, but he maybe flawed due to his 5 minute Chart usage? Gotta go to Ticks AL?
Very good Suntrader. I put you on Block after you followed me here to give me a serve. You popped up then disappeared even though I blocked you. When you logout to view my Post, can you log back in and answer why you said No? (Yes, I could take you off Block, but eventually you'd give me another serve and we'd ruin the thread by arguing)