Question for @padutrader if I may. During your hiatus from the Forum, have you studied any other Gurus other than Brooks? Have you discarded any of Brooks ideas? You're a bit of a Celebrity around here Padu Bollywood next?
Remember @Overnight, not all great basketball coaches are great players. Besides, @padutrader is a philosopher and like you a fun guy.
In my experience, no they don't. In fact they all stink, in backtests and realtime. What one needs is an indicator that combines zero group delay (look it up) with acceptable attenuation ability. I may have discovered one such, but that remains to be proven.
theer is no such thing as Brooks ideas.......they are all based on classical technical analysis.....he has only renamed them......... so it is not possible to dismiss 'his' ideas and not many market participants see a move of 12 ticks on the ES and see a trading opportunity......trying to copy this is to be done only by the most hardened of traders. he can confuse the hell out of you and while i have not read anyone else in 15 years....i would advice approach with extreme caution
there are many reversal patterns. one of the more common ones is the failed channel line breakout also known as the wedge....or, as BPA traders know, 3 pushes . of course the failed breakout may fail, leading to a resumption of the trend, leading to what is known as the breakout pull back trade. most reversals fail so it is always better to wait for a second entry: in the above example this is when the breakout pull back trade fails.BPA traders will recognise this as H2/L2. also always wait a suitable set up to form as this facilitate a stop loss: blindly jumping in will sometimes lead to grief
what do you want me to admit? that i am a lousy trader? ok done now go and look in the mirror and find out what you are