You mentioned Brooks. How long have you studied his works? Have you studied all 4 books? The videos? Good luck. Maybe Gotcha won't show up but i think he lurks, waiting to pounce. Now, if you can impress Gotcha and win him over heart and soul you will have done what no other ET'er has been able to do (that I know of). AND....IF..you can sign him up in your $500.00 seminar you deserve a slap on the back from every living and passed on ET'er, active and non active. Again, how long you studied Brooks?
I know Dr. Brook's works from his extensive articles in Futures magazine. Didn't take the course. Couldn't afford it after being scammed $5,000 by SOT (see CFTC Complaint, if interested). Decided to use AB's basic price action strategy as a foundation and devise my own strategy, which ultimately is what AB advocates. Use what your most comfortable with. My testing has been live market, not SIM as I noticed that candles don't form the same way.
I'm not in the seminar business guys. Thought I would just throw it out there, in case anyone wanted to jump on it. Not looking to hard sell anything to anyone. Thanks for all the attention this thread has garnered. From the responses, I can tell that even if I can scalp two points a day consistently that would be pretty good. Best to all.
Good luck GET. You never know about something until you try it. Wish you the best. Stay away from barb wire. Get your scalping points early if the market gives them to you. If you find you are getting 6 points in a.m. Then giving 4 back in the afternoon then don't trade in p.m. If you can get 4 points net consistently by mid session that is plenty. Then as you can afford work on increasing size. Even 2 points net a day, with size, can give a nice paycheck. But don't increase size until you are really comfortable. Keep at it with one contract. And remember, if you can't make consistent net profit with 1 contract no need to try 10. You will just blow up your account.
Why do people here so often compare the retail trader to hedge funds and institutional investors? They are required to apply different tactics, follow different rules etc. that result in lower percentage gains than what a skilled retail trader can achieve in just one day! Maybe it's the superior impression they give by having a room full of PhD.s from Harvard. But can a young PhD. really out shoot Wyatt Earp?
To my knowledge, the precise nature of "hedge funds" is that they are not "required" to follow any "rules" or "tactics" as relates to the formulating of investment strategy. Following your analogy, they are the "Wild West" of the investment world. Institutional investors (banks, pension funds etc.) are a different "kettle of fish" as regards to said "rules". I'm ok with the quants from Harvard etc. I just think Tulip's annual return is not that impressive compared to even a 2 point daily profit target strategy on the ES. That's 20% per day ROC. Maybe it has to do with scaling. I don't know. But we'll see. Like they say "one thing is to preach and another is to grow wheat."
It's all about account size, percentage return is relative to account size. Phd master brooks never taught this in your teachings?