thetatrader1520887476

Futures Magazine ITrade show starts tomorrow and goes to wed. Al Brooks is giving his webinar Wednesday at 4pm ct. Imho Al's description to price action is second to none. The link to sign up for all the webinars free is. Futures I-Trade Hope it helps.

Better read "The Shadows of Power" by James Perloff and study the Council on Foreign Relations. Because they would really like to end true Capitalism as shown by their actions. not by my opinions. We are going to see much much worse things to come. I am not a perma bear but $ straight down + Market straight up. doesn't = New bull market.

Al's work is very good. He is doing a free webinar on Dec. 6 through futures magazine. check out thier wed sit for more info. he all so has a free wed site were he post his end of day charts. and explains what he was looking at through out the day. very helpfull if your trying to understand the nuances of his method. Hope it helps Funny thread was really a waist of my time to read. that is to bad.

A little abstract from the market. I must admit I got killed today after breaking alot of rules but still way up on the week. I had my mother here telling me how to be a parent and I had both kids 3&4, today should have just throw the $250 in the pot and said I fold lol. Back to the abstract. I was out with some friends tonight "lot of drinks" and some thing came up that I had thought about before but did not wright about. Two weeks ago my bother in law's boat was broke and he was hooking it up to the the truck and taking to the "Boat guy" So I said whats wrong with it, He said won't start. I said let me have a look at it "all motors are the same need air spark and fuel.all markets are the same need buyers and sellers" Had no spark did not even have a crank, going to be easy. I ask got a test light? "rsi, cci, sto.ect." before he answered I had traced the wires to the started and found the blow fuse and had pulled the wires apart and jumped them and said give it a go. Verm. started right up. that was it. Well tonight Bill "brother in law" was bragging "After many drinks" how much money I saved him ext. ext. I didn't see it that way I justed looked for the simplest solution, I had no tools so I was looking for the simple. the key is most thing are simple the dig problems are less likely. But we are always looking for the big problem, or the complex. It's just not the case, things happen over and over because they have too. once in a while it will be the big thing but thats what stops are for, and it is a 50/50 you will be on the right side any way. happens over in over in life. And we almost always say it can't be that easy. I mean I, we can all think of problems over the last month that we thought might be complicated and they are easy at least to the person with the right frame of mind. well thats what the brooks style has given me "keep it simple and look at what the markets doing and telling you" Not to give Brooks all the credit but he came along at the right time and at the right frame of mind for me. As Buffy from daCharts e-mini index futures chat community and charts always say's it all works if you learn it. Sorry for the babble, hope it helps.

I found this post on "Re: Futures I Trade Show & Brooks Book" interesting and have nominated it accordingly for "Topic Of The Month July, 2009"

Well yesterday marked my first 4 weeks of sim trading with No indicators. I've been trading 2 contracts scalping one and letting the other run. I had 14 winning days and 4 losing days and 2 days did not trade. After 151 round turns I am up $1,585.5 after com. not to bad for my first month. My worst day was trading b/w in week 2 with a $475 draw down and 22 round turns, the most round turns in the month. one other day I trade 20 round turns, and was -12.50 for the day + com. Best Lessons of the month, 1 If I am looking really hard for set up, I need to just take a break. 2 Don't trade B/W (some one posted that B/W only starts after noon and around the 20.EMA) that leads me to the last lesson for the month. 3 I Don't tell the market what to do it tells me what to do. Today Is my first day of my next four week cycle and a nice start 7 round turns and +$550 I am done not giving any back today.

You need to know the liquidity of what you are trading if you are trading large size. also Know when the cash market opens and closes. 9:30 to 4:00 east coast. for eminis. Liquidity really dries up in the globeX. Also bonds and grains have differnt open and close times. all should be avalible at the CMEgroups web site. One other thing is know your brokers margins intraday and overnight because your broker will liquidate your position overnight if you don't have the margin. Say your day margin is $500 per contract and over night is $2750 and you have 10 cars on your margin will jump from 5K to 27.5k at the close. 4:15pm. I don't think that happens in fx and they don't liquidate sim accounts. Just now what the margin r for your product and know if your going to day trade or swing trade. and you will be okay.:crap:

Very nice atto. I am still playing around with bears. thanks again bear and thanks atto.

The long after bar 1 gave you a scalpers profit. but you would have needed a 11 tic stop Keep that in mind. the bar two L2 short gave you a scalpers profit and if you used the 11 tic like all teaches you would have cought the hole move. That is just something I noticed after the fact. I took the L2 short and added one at 94 with a stop at 95.5 Note my plain was to swing these to at least yesterdays low. I covered them at bar 3 after the TCL and micro trend line over shoot. a I think I will take Blowfish's advice and take my prophets and rest. I feel horrible today. That 11 tic thing amazes me "don't think I will ever be quick enough to catch that real time"

The short off the first bear bar was a must. and every pull back short was good. the trend was strong. the barbwire starting a 11:30 was awful. I am glad I missed most of it. but I still was able to lose to it. Note my short in in the B/W was a bad trade. there was no trend line break or TCL overshoot. Note the following short had the trend line break. this stuff is easy in hindsight. :crap:

Just remember it's not 90% that fail. It is 10% that do all the work:roll eyes:

Al's book can be summed up as hard harder and hardest. First you must learn chart pattern and their nuances and vierants. will take hard work and some time. He also attemps to show you how to think like larger operations do. By looking for traps, prices that are defended failed failures ext. harder to do. Then the hardest thing is doing it all real time. But if this style of trading fits your mind set and you put in enough work and time in. I think you will be able to write your own paycheck. only time will tell :missy:

I marked up this chart a little the way I do when I am trading. L2 down to bar 1 breaks the trend line (not drawn). so you can start looking for sorts but not yet. the L2 at bar 1 did not make a scalpers profit and could not close be low the 20ema. Bar 2 give you a low 3 and still no close below the 20ema. bar 2 is a double bottom bull flag and a M2B. two reasons to go long. At the H4 but You could name that bar what every you wanted. would not change the fact that there was a double bottom bull flag and the market could not close below the 20ema. Its a good long. Note the H2 long after bar 1 was a reasonable trade as well and only gave you six tics of heat as did the H3 but the H3 was not such a good entry Imho. Hope it helps

Zone, first don't kill your self with the labels, rather try to make sense of what the market is doing (telling you). Imho page 120 should be edited. for example the H3 @9:00 is not the H3 for the day or the move It is the H3 of the bull flag that formed after the 8:00 L1 But Looking at the chart you should be able to see it is a bull and should be buying pullbacks regardless how you label the bars. the way I Label the bars is as follows in bull I will label pull back H1, and H2, then when the market moves up I start over again H1 H2. So if I am getting H3 and H4 in the same pull back it is most likely barb wire or the trend has reversed. thats just how I do it right or wrong. If it make sense to me thats all that counts. If some how I label page 120 the same as Al but it didn't make sense to me it would not add any value to my trading. so I don't worry about it. Maybe page 120 is Al's odd way of saying don't get cought up in his labeling system. use what works for you.

I am using Infinity for futures and (tos) Think or Swim for stocks and options. I like them both very good customer service. I do miss TS data base for charting. Note Think or Swim just got bought out by TD bank so we'll have to see if they keep up c/s. Also on futures my Transact feed is faster than tos (TS was slower too). Tos had a new release today and said that latency should be fixed and would speed up the futures and forex charts. I hope so. I don't use any indicators so I don't need any fancy software. And I still have my first dollar it you know what I mean

Dp nice charts. I use the tick a little differently. I throw 20 Bar moving average on them and I take all with trend trades with a +-250 tick avg. and I won't take any counter trend trades if over under that. ocastional I will throw a trend line on them, I don't know why some kind of six since. But when I am looking for a break in trend and see the tick is lop sided it make since. all an all the tick just keeps me out of trouble. Note I only peak at the tick (1min. nyse) 2 to 3 times a day. And note I am working not to looking at them at all. but Its like crack or something. I am like just let me peak and see what the tick is doing. not that I do crack (but did quite smoking a few years back, that was hell).

Thanks Bear, I Think this will do fine. I will plug in some data that I have been keeping, over the weekend. If I need help adding any formulas I will post them. I know a lot of software has back testing ext. but I would have thought more people would have responded or wanted a good excel template for their live or demo accounts. I guess its that 90% thing. Oh I mean 10% do 90% of the work thing. :crap:

Sorry I did not read threw the hole post. I have a TS story thought. I opened a small account with them mostly to try out their charting. But I wanted to try out their doom as well. One day I was trading corn and scalping in and out maybe 10 round turns. then I saw something and wanted to go long put in my order it was rejected! mum I said, lowered my position size put the buy stop in again. rejected again. put a 1 lot in still rejected. Called tech support. while on hold the corn went limit up. Tech support was nice and said the glitch was fix and my orders would go through now. Obviously he had no Fre*$#@ing clue that corn was limit up. (a$$hole) for being a weeny. For me its not 3 strikes and your out. I am more A one and done. So I was done. with no hard feelings. TS has a huge client base and they don't need me. Must be the same board of directors as GM and Chrysler?:crap:

I agree. Mark the charts up as you see them and if you are marking them up wrong the P/A most likely wont look right. But at least at the end of the day in hindsight, you will be able to see any mistakes. and see why. Good luck.

There was a double bottom bull flag made up from 2 and 5 bars back aslo had was a failed third attempt lower with trapped shorts that will not be looking to go short any more. witch makes for a one sided market a long after that short would have been a good trade. but this is all hindsight. The book is always telling you to look for trapped traders. witch is easy in hindsight. But bottom line stay away from Barbed wire. and if you find yourself looking really hard for a set up then it is most likely not a good set up. = Wait Thanks for the chart was a good observation hopefully every one will continue to post and we will all speed up the learning.

ACS I am new at this so I am just learning as I go. I think you have to look at the most resent PA and see if it does what it is suppost to. like Trend line break look for at least a two 2 legged pull back and possible reversal. then wait for more PA over and over again wait wait wait. I think if a few of us work together and look at each others charts and make comments we will be able to get it down pretty quick. I have to run out petty soon I have my 4 and 3 year old girls. I will be busy most days this summer with them, but it will be a good time to learn this stuff when I get to watch the charts.

Price action setup buy the book.

Does anyone have a good template for Microsoft Excel to keep a trading Journal. I would like to start using excel to keep track of my trades but am having trouble setting up a good template. So hopefully someone might want to share their template or ideas. Thanks:)

Only Had an Hour and half to trade today. Started at 12:30 saw the trend line over shoot at 12:15 so at 12:30 I was expecting another leg down which happened at bar 1. Bar 2 was a double bottom bull fag and a trend line break. I went long with a market order at 7half for a swing to 913 magnet over head. not Al brooks style but good risk reward. so what happened? Bar 3 was a trend line break now I was looking for at least two more legs up. bar 4 was a High 4 and the start of the first leg (likely a better spot for a long). Bar 5was a break out pull back (you cant see it here but real time the bar traded at the low till the last 30 sec.). I added to my potions on a stop above bar 5 my target was hit two bars later. I had to stop at 2:00. Bar 6 was a micro trend line over shoot so I was expecting two legs up which you got bars 7 and 8 bar 8 was also a second attempt to go higher and was a good short. Notice ema gap after the bar 8 short that gets filled and take out the B/E stops to the tic. you have to be looking for shorts after the Double top bear flag and the trend line break after bar 8. lots of Barbed wire. I did not trade it so I don't know if I would have got the short down to 905

Al, Thanks for the book and all the I trade shows. Its great to see your posts in here. I think it will help a lot of us out.