JH was very a contentious subject in his day, I was here on ET at the time. I read a lot, I've studied trading for decades and JH's many and very long ramblings with its many uses of acronyms had me beat, even when I tried looking at in in detail. When traders talk about volume and indicators in detail, from my experience that type talk is pure nonsense, so for me, he rubbed me up the wrong way as a charlatan. But then others on ET find he's the real deal, and it just has me perplexed, that maybe left brain right brain see a different world.
Thanks. Nice side step, but do you think your trading ability is moreso a result of your experience rather than Al Brooks teachings?
Yeah I never could make heads or tails of Hershey's cryptic ramblings about "fractals" and the such so I usually just skipped over his post. He was just too far out there for my taste.
I'd give the edge to my experience being a greater contributing factor. However, I do use a lot of the concepts and ideas from Brooks's trading course, and having studied and applied his information has had a salutary effect on my long term profitability. I'd again emphasize that I am specifically referring to Brooks's video course and not his books. Also, the question of whether or not Brooks trades or not never mattered to me. The only thing that ever mattered to me, whether studying Brooks, or Darvas or O'Neil is does my own observation of the markets support the observations of the information I am receiving. If so, that is all that matters.
I think you missed the gist of my post which was first and foremost a critique against all the pretenders on this board who are endorsing methods that they themselves are not successful using. By all means, I welcome all discussions on Al Brooks, Jack Hershey or who have you, but just don't pretend you're successful using them if you're not. See what @SimpleMeLike is writing lately, i.e., my advice is worth less than a penny with a hole in it since I'm a net loser for 2023. How wonderful this forum would be if people were as transparent as that. So, if anyone wants to speak highly of Al Brooks, be my guest, but have the decency to not pretend you're rich or profitable trading it if you're not. It could be as simple as: "I think Al Brooks hold a lot of promise and I'm still learning the method, but be warned that I'm not yet a consistent profitable trader using it." How about yourself? You were a huge proponent of Jack Hershey and spent a lot of time "helping" another guy who pursued that path and the impression one would get was that you were highly successful using Jack Hershey's methodologies. That guy eventually posted a net loss on his first attempt into live trading (a far cry from 2-3 x the daily RTH range) and then disappeared. Then, I see you dabbling in crypto, astrology and the last I heard is that you're studying ICT. If the Jack Hershey method you were and still seem to be a huge proponent of delivered even a fraction of what it promised, you should be extremely wealthy by now and don't have any need for astrology or ICT (which I'll keep my opinion on for myself). Now, maybe I'm in the wrong and you actually are very profitable trading all these methods, but if you're not, you should calm down on the advice giving and 'mentoring'. For most traders success is a dream and will remain a dream. That's the message newbies need to hear because it's the truth. Goading them on and encouraging them to work harder or longer is simply cruel. Newbies need to hear that this is hard as hell and that they better be prepared to spend 10 years of their life in order to have a fighting chance at this and maybe not even then. Knock some realism into their head and give them a better alternative for their life. And please spare me the motivational quotes. They have zero relevance. Trading is about problem solving. And if you can't solve the problem, no amount of motivation or positive thinking is going to help you.
short 4426, stop 39.75, three times buyers were induced to pay up into the mid 4430's, and three times sellers won. Data release at 8:30 in the East could change this in the blink of an eye. Pre-release FOMO could ramp me out before 8:30. The set up is a third push failed breakout.
From my POV, it looks like we'll see at least 4450/70 ES on this up leg before any reversals lower. The cat's out of the bag, so I'm expecting this CPI print to be a non-event like the prior releases lately. If it comes out surprisingly high, well, that could trigger a sell. BTFD mode for now.