Trading the ES live-the Brooks way

Perhaps. But I don't think each bar has a story to tell worthy of a Hallmark movie of the week.

 

i was hoping to kill some time and maybe make some money.
i do not need much money but i have too much time .so i am successful

 

he just said it has story...it may not be relevant to you

 

thks for informing the world. i do not have anything to do.i an67 years and bored

 

I think Padu is quite vulnerable and needs help. I believe he’s too addicted and simply can’t stop. The following could be an explanation:

There is robust psychological research on the “Variable Ratio Reinforcement Schedule,” which also applies to traders.

In cases like Padu, he is rewarded intermittently and randomly (with winning trades) around his ruleless Al Brooks’ bar-bar trading method. Because of these random and intermittent dopamine hits, he’s hooked like a cocaine addict.

This is one of the problems with Brooks’s teachings: there are no clear rules, only very fuzzy guidelines that can lead to multiple interpretations of identical scenarios. When there is so much discretion, it becomes not only a pain in the ass to trade (especially on fast TFs), but also can be very addictive for inexperienced traders.

Usually, the more experienced discretionary PA traders have well-defined guidelines and trust themselves not to break them. (the less experienced traders need very objective rules)


The problems I see with Brooks method is:

1) No order-flow dynamics (and thus no trade logic around it)

2) No clear rules / guidelines

3) Too much information to process (sets people up to be confused)

4) Easy to get locked into the confirmation bias and starting not to see or deny information that is not consistent with what is happening

5) High potential to cause addiction (as mentioned above)


I don’t think that Padu is intentionally ignoring us, I think he’s a very vulnerable 67 year old addicted to the random and intermittent dopamine hits.


Padu, if you’re not ready to stop, then at least first look at the higher TFs to get the direction right, and then zoom into lower TFs to get discounted entries on pullbacks. But trading ES on M5 during night chop session is financial suicide.

 

Yeah, Padu might have a trading addiction, but we have an ET addiction following along an addict.

 

Then I can see why you're drawn to Brooks.

 

long 5628 Target will let price action decide. same with stop chart is already posted in post 187

 

you are welcome to join m

you are quite right about Brooks that is why i do not recommend him to just anybody you have to spend decades studying and there are easier ways to make money.

i did not know this when i started with him but now i am ok with what i am doing.

i am learning to hold for longer time with only one lot-it is impossible to trade with a drawdown of 1000 usd with more lots.
just like Brooks i march to the sound of some other drummer

 

i do not need to read 3 books or see 10000 hours of vids to know what the market is doing: breaking out into high pull back to test low and then break out of the high again Or breaking out below the low.
Vice versa for the bear case.

it does nothing else all day
this is my only strategy NOW and i need no other.
thanks for your advice and since it is unsolicited i need not heed it. it is good advice but as Oscar Wide said: the only thing to do with good advice is to pass it on; one never has any use for it oneself