i am still trying to figure it out......i keep trying to check price action to decide but so far no consistent exit
i wish you told me that 30 years ago. i only recently started to keep a journal. but presumptuous as it may seem, i never had any doubt that Brooks methodology was excellent.......everything he said made sense.... not only to me but to many people...lots of people ....his first book was best selling it takes along time to put his ideas into practice as with any other methodology. i never was forward testing...only trying to implement what he teaches.
padutrader, I understand. Learning where/when to exit my trades is ongoing challenge and decision making and testing. I am testing a few exit strategies.
if you really want to add a new dimension and new weaponry to your trading check out Toni Hansen. it takes some time to understand the finer points of her but once i did she has turned my trading totally around. i am now making perfect exits
i have shifted my journal to a new place https://www.elitetrader.com/et/thre...arket-and-by-technical-analysis.336198/page-2
I saw your other thread (new thread)...you will not achieve your goal to verify profits without stats. Simply, just posting live trades without and summary results of the live trades while your redacting (hiding) the profit/loss info in the screenshots will not accomplish anything. Seriously, if you post a screenshot of a chart and a trade entry in your platform at the bottom with most of the info whited out and then the the same for the trade exit...without even writing in the message post [Profit $35.00 or Loss $35.00]... There's no verification of anything and you'll be removing the purpose of posting live trades. Seriously, why is it hard for you to just write the Profit or Loss for each trade or any other basic simple statistic ? Also, there's many professional trade journal software out there that can do the quantitative statistical analysis for your Forex trades if you do not feel like or unable to calculate your own stats. In addition, most brokers have their own stats of your trades embedded in the program but I'm unfamiliar with your Pepperstone platform. Thus, I'm not sure if it has it too beyond just showing Realized / Unrealized Profits and such. I'm posting the above info in this thread because you made a comment in your new trade journal not to make any comments unless it involves a specific trade. Seriously, two trade journals and one of them involves you being upset and at someone you're in disagreement about technical analysis. Lets pretend you prove or verify you're a profitable trader. It will not prove that its because of your technical analysis...the latter you really need to sit down and think about it very carefully considering you do not keep any statistics. There are profitable traders using technical analysis. Its almost impossible to verify its exclusively because of the technical analysis...reason why its not worth debating with others about the value of TA. wrbtrader
You should ask the moderators to close this trade journal while you concentrate on your debates with another member in your new trade journal location. Later, after that's finish with your new trade journal, you can ask the moderators to re-open this trade journal to continue education newbies about Al Brooks H2/L2 trade method. This will prevent trying to respond to two trade journals unless you're very good at multi-tasking. wrbtrader
wrbtrader, Thank you for your professional and well written comments to help padutrader. Please give me some comments on my stats below. Thank you. You are 100% right in your recommendations to padutrader. padutrader, you know that I am good member on ET here. So please take wrbtrader advice and in your journal post your profit and loss and track them in a spreadsheet so you can seek positive expectancy in your forward trading testing or sim trading. This is Exactly what I am doing now with my own sim trading. I attached a screenshot of what i am testing. These stats is all I have to prove to myself if what i am doing over a XXX amount trades will be profitable in the future. The stats is one out of 4 exiting methods I am tracking. In my trading, I discovered months ago, I did not have a clue how I wanted to exit my positions, I was guessing and that left me emotional mind weakness. So i picked 4 exiting methods and I am keeping stats on each exiting methods to see which method is profitable and comfortable for me. We HAVE to measure our efforts and hardwork. Please take your emotions out of it and let the numbers do the talking.