Trading the ES live-the Brooks way

ok i wont leave but spend less time here .
thks mate

 

boy this thread is getting ridiculous

i have created a Frankenstein

 

incidentally this trading for 15 hours has not only burned my finances but also my eyes.

my eyes are burning.

money can be replenished not God's and Nature's gifts

so i have to cut down on computer time: ET and trading and maybe TV as well. Cutting into porn time may be most difficult

 

i think the aim in trading is not to make money.

it is to stop losing it

 

Great insight. Risk Management is the chief cornerstone of profitable trading. Plug the leaks and the rainwater builds up faster!

 

market action has to be understood so that panic does not set in and some incomprehensible things are done.
if you do not know why you entered, then you will never know when you are wrong and if you do not know that, then you do not know, where the stop for that particular market condition and trade, should be placed, for the right technical reasons.

this is why i am leery of traditional risk management.

the risk is not in market but in the trader.

FOR RISK MANAGEMENT MANAGE YOURSELF.

learn the market . understand the market. without that risk and trade management is meaningless

as Seykota so wisely pointed out:"if you cannot learn the basics and watch A profitable trader at then restrict your trading to the supermarket

 

but you cannot manage risk if you do not know market structure: risk management is TRADE MANAGEMENT

 

markets can be quite sneaky so it is difficult to know all the time what is going on.only experience can save you sometimes.

What with pull backs becoming deeper and deeper until the Pb itself becomes the trend.

that is why Brooks stresses market structure and Signal. BOTH.

market structure can and does transform into another avatar.

only lack of signal can stop you from jumping into a well. thank the market for small mercies.

it does give false signals but to seasoned market watcher there is always something wrong with those.
So novices Brooks says should take only the best signals.

that is easier said than done because the market may not give you a signal for hours or even days, and then you look for and find a mirage and jump in.

 

this is an interesting chart with regard to trend lines
two leg move and the trend lines are gradually decreasing in slope.

i prefer trend lines to ema because TL s are more with it not lagging or leading though they suffer from being subjective and require expert execution to give good information

 

blue line points to the bar where the bulls attempted but failed to generate a breakout leaving the door window and house open for the bears