Interpreting Al Brooks - Bar By Bar

Discussion in 'Trading' started by Sam Morgan, Jun 27, 2011.

  1. The following is my trading background. I have traded for the last three years, but have only been consistent since the start of 2011. My work schedule allow me to trade (almost) full time; I trade the morning session one week and full days the next, which means I will post more on my full days.

    My trading style evolves around finding stock that are in play on any particular day and catching the trend. I prefer staying in a trade for as long as possible, but if need be, I will scale out. Occasionally I will scalp, but I prefer not to do this, as many at times I get into scalping mode for days and tend to miss the big moves. I do not hold any stock overnight.

    In early 2011, NoDoji (whom most of you know in one way or another), had strongly recommended Al Brook's book to me. It is now that I have gotten to it and have discovered that it is not the most graceful of reads for myself and many others. However, it demonstrates a very simple price action trading model, which reflects my style. This is a unique book and a brilliant one in that.

    Even though I have learnt how to trade consistently in the green, on a daily basis, I still have a lot more to learn to get better. My intention for this thread is to transfer my interpretations and questions I have from the reading of: Reading Price Charts Bar By Bar.

    I hope this helps in making everyone a better trader.

    Thanks,

    SM
     
  2. You a member of brookspriceaction forum thats devoted to his method discussion and has traders (many) that are actively using his trade method ??? In addition, there's been other past threads about his method and you can review them to see how they turned out.

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=167971

    Also, how come you don't discuss Al Brooks method in your trade journal ???

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=212039

    I'm not trying to derail your thread...just curious about what's going on with your trading and the rich source of help elsewhere involving Al Brooks method. Yet, if you've tweaked Al Brooks method via adding you're own personal touches to it...hopefully this thread can further help you if others have done the same.

    Mark
     
  3. NoDoji

    NoDoji

    Sam, don't interpret Al Brooks for everyone! Make them spend a year figuring out that book like the rest of us had to :p
     
  4. interperting/emulating someone else well not give you true insights of a system


    a. READ knowledge everywhere
    b. test/train/trade/ what you read
    c. develop your own method based on your experience