szubaark

Trend from open day due to gap. This is easy money strong Trend from open type day. Unfortently, we dont get many like this. Most days are Brutal Ranges with Viscious Barbwire in between. Where even good setups are faked out so you wont get your Scalpers Profit right away. I did 3 trades today, All Shorts, All Winners Note: My last Short was a little too early, where i should have waited for that Double Top bear Flag ACS mentioned around 11:15. But i was going with strong trend so it doesnt really matter where u Enter. Only took -1.25 Heat on it anyways.

This thing was going down in a Ugly, barbwire type tight channel. +6 tick scalps were impossible if following Als entries. Then 2pt Stop would come back and get you. Al should mention in his book that his method of scalping should only be applied when we have Good Volatility markets. In low Volatility Market like we have now, his method of scalping will slowly bleed your account.

"I will take the other side of those trades for 3 ticks, and 10 contracts. Fast money, heart-stopping, pure Las Vegas trades...not for the faint of heart." Yea and you probobly had 3 heart attacks already and your hair is falling out.

Today was safe giving your trade room and not letting next candle High Low Stop you out since the Range was so tight. BUT you NEVER know when we could get out of the Range on a 5-10PT Spike (happened last week), then instead of -2 Point Stop, your Stop would have been -5. If you Shorted the Top of Range and Bought Bottom then u got your Scalp Profit, BUT if you waited for Signal Entry, they failed. Even small candle at bottom after spike next candle made lower low to take you out UNLESS you didnt scale by next candle high/low. I prefer to scale Stop by next Previous candle high/Low because you never know when it can Spike against you.

I hope you realize that most of these FBO were +5,+4 Failed Tick Scalper Profit. So you woudnt be able to even get your Scalper Profit, then it would turn back on you and Whack you for -2 Point Stop (What Al recommends) That range was a Tight, Controlled 1PT Range. Also that SHort u missed by 1 Tick, was HUGE COUNTER TREND NO NO. U had a Doji at Top of a Strong Bull day, i was looking for a Long 1 tick above High of that Doji. inside bar formed instead, and i was afraid of WHIPSAW both ways which USUALLY happens LOL anyways, another shitty day. At end of day, it looks all CLEAR of course.

6/26 Today is a good example that you need more then just seups to be Profitible. We had 7pt Range. Below the EMA we had good seups for Double Bottom Bullflag H2&H3's and EMA GAP. THEY ALL WERE FAILURES. Entry candles were taken out immediately following Entry. Average Stop -2. Also If you Reversed for Reversal Failure Failure you would be also Stopped on next candle. I took 7 Stops in a row for Over -10 Points (1 contract) Day like today could easily wipe out all your Weeks (months) Profits. And please dont say YOU WERE TRADING Barbwire, because we had good momentum Since OPen, 2 Legs down. You anticipate most bardwire around lunch or around EMA, Price was well below the EMA (momentum was strong)

We already had a test of extreme from Long after EMA Gap. Then spike down and another run up. So we went Twice below EMA Gap. The second downspike was just a Flush (Stop Run) U had a lot of people going Short thinking Reversal, then they took it up. Too many games for me.

we have some nice barb wire going on now

Forest i see that "ii" H2 u have. Im having a lot of those WHIPSAW on me and turn into Outside candles followed by more indecision. I guess they only good in beginning of the trend.

Boy, are you in for a rude awekaning. If this was that easy everyone would be doing it. Dont let these books fool you with end of day perfect examples. You going against the best in the world in the e-mini arena.

I like the above post. This book is for someone who is breaking even or even tiny profitible. Usually a trader with 5+ years Real Time experience. Also, basic understanding of "everyday intraday tendancies" helps. I do not recommend this book to a newbie as it is too many things to look at. It might seem easy following those charts in the book In Hindsight, But real time its Guerilla Warfare. Al even mentions he hasnt been Constantly Profitible only after 20 years. Seems like thats the average for every Constantly Profitible Pro. One needs to take breaks, otherwise its easy to get burned out in emini daytrading.

Identifying Legs is the "Art" of trading. ALso many Legs have Variances(Mutations) as Al mentions in his book. THERE IS NO SIMPLE Defintion or Explonation. hehee..as is with most of concepts in trading.

Also like ano other method, with this method the difficulty comes with idenntifying the Legs. Since a H2 Long setup u might think is 2 Legs but its just One leg with 2 small legs in between. Im constantly asking myself is this a 2 Leg pullback or a a 3 Leg pullback? LOL

Hi, Can you show Chart examples? its hard to follow without examples.

Thing is most days will be Choppy,Whipsaw Ranges. Trading these setups in real time is a whole differant ballgame then mark up a chart at end of day. I hope everyone keeps posting their Entries each day with charts so we can fight this beast.

Hi I started paying attention to these M2Sell/Buy setups. Al says to wait for a small candle then short/buy at top or bottom of Range BUT you will almost never get a small candle. usually on 2-3rd EMA touch they will just spike. BUT why didnt this one work today? Everything was textbook for Short BUT kept creeping higher. Go figure.