then take the previous swing low,then. but that is why most of my trades are taken in ranging markets and since market is usually in some sort of range i get alot of opportunities
valid point. we have to analyze the past.....nothing else is available. i do okay scalping....ES is quite finicky sometimes and TST does not give much margin for loss and i cannot trade my own money in foreign markets: against the law but saved by TST as far as i am concerned . long live TST
let me explain once a 5 min bar closes usually there is a wick at one or both ends. this shows some counter trends interest. the market then will test both the high and low at least once. so i buy near the low and sell at the high and usually get .75 -1.5 point. this is minimalist yes but i do this with 3 contacts and so make 100-175 usd without any risk. do this 10-15 times through the 'day'
Easy way to test if Al Brooks is legit. Watch this video, take note of the Candlestick patterns and consequences and Backtest it.
every body is legit. you have to take what he gives and use it for your benefit. you have to study everyone and customise it to YOUR needs. that is your responsibility not the trainer's
I like Al's general commentary about Markets and Trading, but his videos are obviously directed moreso at 5 minute chart Traders. Being a longer term Trader I find his video course a bit irrelevant, even though principles should apply across longer term Charts. If I was a 5 minute Trader I would certainly test the content of his teachings. I prefer his Book (Trends) to his videos.
i use the stuff that makes sense to me. like second entries. trend line breaks and reversal set ups; 3 pushes are another that happens quite often in markets. i should use inside bars more often than i do....