But why beat a dead horse? We already know that most authors on trading books prevaricate. Brooks is no exception. However, you shouldn't disparage others who might find Brooks helpful. And while I personally don't do bar-by-bar analysis, I do utilize the same premise for leg-by-leg analysis, such as in 2 legged pullbacks. In the end, it all comes down to your own interpretation. If it makes sense, great. If not, simply move on.
Oh, he does? Why, that's a first. In my short forays into his threads, I don't remember seeing any halftime reviews. He only denigrates himself as a worst trader ever lived. Can't argue with that, I suppose. But where does he talk about his trades?
what is the meaning of price action? it means everything is in the price and everything that we need to know is in the price. it is in front of us. to be read like a book or newspaper-digital of course[]. now i agree with Brooks that every bar has a reason to be there but why it is there, may not be relevant to our objectives. a 5 min bar is not going to be relevant to a long-term investor. It has taken me twenty years to find that my original belief that markets are rational. [sic!] 100% of the people who are not traders or investors, by their own choice, would find this belief ridiculous. According to reliable sources only around 2% of people in the world, are market participants so 98 % of the people would believe that the very idea that markets are rational, is absurd if markets are rational then they can be predicted, not like Nostradamus predicted, but by reading/observing the present bar or bars. That is by focusing on the past. This is what Brooks was trying to tell us.
i think Frederick made it clear that he did! [move on] he is just helping us or others, who are on the fence, to decide about Brooks. fair enough. this forum is meant for just that so all kudos to him and to you ,schizo, for spreading light on the issue. As Goethe said 'where there is much light, there is dep shadow' so perhaps it is better we do not shed too much light []
Hi Padu, I believe you mentioned in the other thread that you were concerned about the low volume in U.S. overnight markets. Take a look at the MNQ Micro E-mini Nasdaq... it's had surprisingly strong volume late at night and early in the morning... so good that I could trade 3 minute candles without encountering the short, poorly formed candles that are frequently caused by low volume.
like you said but that means that is not the norm. sometimes you can trade well, like just now Es is trading, I am trading, albeit in sim but i am finding it is ok. i want to hone my skills as it were without having the money dagger over my head. welcome! first time i noticed you here in ET
you should have told me 20 years ago this is what Brooks meant, i would have at least enjoyed my self....i am almost an alcoholic now but it would have been better than being a traderlic
Just for information, are you planning on posting any more trades in this journal ? We are at page 14 already and besides 2 trades on page 1 i can't seem to find any, unless i missed them?