Sorry...my prior post about trading as a business... I in error used the word "net income" when I meant "gross income". jinxu, I've seen some business owners use their business as a deduction or write off from another income that's a larger source of income. Yeah, this is off topic and the thread here has run its course...my last comment. wrbtrader
For educational purposes only (Free for all, even FF): Imho, for you Brooks Traders - when Al says look for any reason to enter short, this is one of those times.
haha this thread has run 3 times it's course and it all started,believe it or not, with 'do not buy his book buy his video course' unfortunately the title was 'misleading'
some activities are simple,not easy. like cooking or driving a vehicle. trading can be made complicated and most vendors would like you to believe that trading is complicated: has anybody written a book on trading that is one page long. That is what i want to do write a book that has one paragraph and is one page long and yet professionals know simple strategies work and it makes work easy because trading has unique attributes such as no need for anyone else's participation and that is a huge advantage there are not many activities that you can go at it alone golf and billiards are two.
i think what you say is reasonable and right.....however your packaging is the problem more than the contents of what you say. if you say bluntly 'you are idiot because you believe that......' that will not get the correct response or get the correct idea across. in any case i do not think it is illegal to be an idiot.....but people are not enamored to be recognised as such
some of the things Al suggest are just fantastic one of the things he suggests, is that if there is a strong move, then enter at the close of the bar. almost all traders/ experts say wait for pullback and then enter: but a pullback means that the move is weakening,the strongest of moves do not pullback for considerable amount of time. So if you wait for pullback you miss the strongest of moves. So enter on a strong move, may be if you see one good strong bar or two or three.you will learn with experience, what is a good strong bar. If it pull backs then,after the crowd enters and the trend resumes, you can close your trade,if the recovery does not look very strong.
Now it seems, you've devolved into a troll. Maybe there's hope, I dunno. There are many successful cases of transference. He's posted countless logs of his trades. If one doesn't take to time to comprehend what one is reading, that's on you. It might be a case of lost keys. Lost keys that were found right in front of you. The exploration of Jack's work builds one concept at a time. Provided the person taking up the effort just follows simple instructions. Print out threads and charts, place in 3-4ring binders and mark up with notes. It's an NLP thing to accelerate learning by slowing down and comprehending more by using more of your senses. One doesn't step over anything. Build a Glossary. Track down concepts. Use sleep to come up with new questions. Perform MADA during RTH on a liquid instrument and annotate the 5m chart. Log bar-by-bar. Debrief. Collect insights. Build capacity. Build sports memory through repetition. Carve the turns even better the next day. Repeat. The goal is come to a deep and grounded understanding in the structure of the Market's System of Operation as expressed in an Operating Order of Events. By doing this first one learns to 'read' a market and extracting capital is a natural byproduct. In so doing, the ability to extract the market's offer is,...well there's really no words than a deep and abiding feeling of appreciation and gratitude for Jack! It's a bit mind boggling, a different paradigm for sure. It's more forward testing than backtesting. Jack didn't give out fish, he taught people how to fish! In spades !! It all comes to someone having the where-with-all to put all the pieces together. There's a trading logic layer that's separate and distinct from 'reading a market' layer. Jack's Methodology is a partnership in monitoring the market bar-by-bar. I suffer losses (yes, still a healthy amount) whenever I deviate from acknowledging what the market is doing in present time as the future crystalizes into the now. However, doing MADA bar by bar is self-correcting as long as I concentrate again on following a simple routine. Market action is frequently hypnotic. At least for me. Unfortunately from what you've said whatever you've been doing while Jack was posting has been ineffectual in understanding his message. That's on you and nobody else. Unless of course you're one of those folks whom the buck stops anywhere but here. No teacher owes you an insight. Those are what you earn through your own due diligence. Jack's stuff isn't for everyone. A person can still offer respect for something they don't understand. That's an elementary skill right there. Do what resonates with you and speak well of those who contributed greatly to the discipline of trading. I'm not up to debating the above. I've done my own due diligence, performed the work and reaping the rewards. They are private. They grow simultaneously with the expansion of my understanding. Hand logging and debriefing are underrated. My vantage point has moved from 3x the ATR as an impossibility to something understandable and achievable. From where you stand, there are way more peaks and valleys between you and the promised land. Impassable and unsurmountable is my guess, better to seek and easier way. For what it's worth, Happy Trading to You!