Al Brooks does not trade, has no trade data and is not an NFA member, as he goes on to claim he earns a living trading but is really a book salesman (sort of what Gann was). There are a thousand such sites that measure nothing, trade nothing ever and go on to claim something. That is why we struggle and fumble around trying understand and apply such "acclaimed trends, ranges and reversals" books, all of which are a decade old.
i fade breakouts from ranges.....it is my daily bread....... and jam sometimes especially when the market is trading in range whole day
a breakout means it is breaking out of something.......if it is out of a range it will fail........if it falls rapidly to the past the bottom of the range it is a trend in the opposite direction. if the failure is NOT rapid but forms a sort of consolidation on the way towards the range it broke out of-a consolidation is a range- and then breaks out 0f the consolidation then this break out will also fail and it will again reverse forming what is called a breakout pull back.
Trading involves probabilities. Gee there's an original thought. But for those looking for certainty try something else. Breakouts/breakdowns work sometimes and sometimes fail. Thems the breaks.
that does not mean he does not trade. his knowledge is far greater than the whole financial industry put together and he need not prove anything to anyone.if you want his ideas his knowledge it is there for you his methods -they are NOT his originally as he clearly say in the preface- and he does not make claims that he discovered them
i have always wondering why they say that... market follows laws. market does not play with dice, but traders do
yes it does, when you have no clue about where the trend is going...which, hearing all the talk about probability, no one knows. trends are not defined by trend lines and ema.....they are defined by the bars that make up market structure. market trends . markets range. trading involves management...not probability....... where is probability in a trend? the definition of a trend is that it is sure..... wake up guys. bars.......that is what shows trends that is why I love Al brooks......but i disagree with his declarations that probability defines trading. markets do not play with dice. traders do
volume, an independent variable dictates price, a dependent variable, according to the law of supply and demand.
yes but the problem here with volume is that if there is no supply, no sellers, which in a bull there is not, then market will go up on no volume. so in that case, according to laws of volume, a market going up on low volume is suspect. and since volume does not support price, the bull has no balls so to speak.......totally wrong