thetatrader1520887476

zan-shin Right from the book: High 1,2,3,4 A High 1 is a bar with a high above the prior bar in a correction in a up or sideways market. If there is then a bar with a lower high (it can occur one or several bars later), the next bar in this correction whose high is above the prior bar is a high 2. the third and fourth occurrences are a H3 and H4 there are other variations as well. I think there is a lot of gray area in the labeling of these. My take is if the market is moving down or sideways you keep labeling the highs above the prior bar in order 1,2,3,4, ect. and if the market is going up it would be H1 and H2 and the H2 is just the first pull back in the new up. I am fairly new to Al's stuff and terminology so I could be corrected. Al's also say don't get cought up in names like shooting stars and high moon dragons and things like that because they offer no trading value.

Nice trading day I have been trading Al's patterns on a demo account for about a week. (first 90mins of trading day). Today was a big gap day and I know that the market trends most of the time after a big gap. so I shorted the low of the first bar (it was a trend bar not a doji) and added to the position at the low 1 and was done for the day. with nice profit. Al says in the book that it is okay to take High 1's and low 1's if the market is in a strong trend witch is was all morning. I am almost done with his book and when I finish I will start from page 1 and go over it in much more detail. Hopefully then I will be able to contribute more.

Try this swiff player you can pause and ff. GlobFX - Downloads I found it on another TL forum. Hope it help.

Stupid, stupid, stupid, I just gave back all my profits. I agree with Dp if you can stay clear of all the cons out there the road will be much shorter. Imho and defiantly for me, It is my money management and emotional management that needs the most attention. Trades and setups are a dime a dozen. And most work. Death by Mathematics if you eat like a mouse and sh!t like and elephant. you will never become profitable. I will have ten winning days in row and one day I will be in a trance and say I am bearish I will start shorting every new high. even though my stuff is saying go long. And just about the time I bust my account I will weak up and say what were you thinking. It is kind of funny I used to get mad, but now I just laugh. Any How I have been trading for two years futures for almost a year. and I am at break even. I know and have confidence in my setups now. But I still have blow up days that kill my p&l. (on those days I break my rules). The Blow up days happen alot less and I am sure with hard work (hard work) ya thats what I said. I will be profitable shotly. Back to what Dp said. I also wasted about six months of time with the gurus. Makes me laugh. If they could trade they would not be spending so much time selling their junk.

The first 50 pages of the book are available from Wiley @ http://media.wiley.com/product_data/excerpt/52/04704439/0470443952.pdf I think you could find the hole book online if you search for it. But I would just buy the book from amazon ($47) and read the first 50 pages while you wait to get it. I would think you are going to have the read the book at least 3 times any way.

Al Brooks is a pure Price Action Trader. and the Book Is All about Price Action. The I -trade show will be archived till Aug. I have the book and would agree that it is hard to read. But the information in the book is priceless. Trading is hard and it will take hard work to become profitable at it. maybe when some others get the book we could start a discussion going over the book and Price action.

Great topic, My 2 cents. low Tic, Vol and range bars will make your indicators fire off faster. So if that is your goal maybe they will help. but Indicators only tell you what price action is doing. I would study price action and price action patterns. I like using the five minute chart and I look for spots were early shorts or longs got sucked in and are jumping out. most of whom are using tic vol range and 1min charts. When they are forced out of their trades they are driving the market in my direction. Also I find it hard to trade with an absent of time. just watch an emini 5 minute chart for a day and pay attention. don't be checking email and IMing. watch the chart. You will see a number of times through out the day that a bar will sell off and stay at its low but just before the bar closes it will shoot to the top of the bar and makes a bull close. It happens all the time. The 89 tic and it indicators are all saying sell. and now your trapped short. Also watch major closes. your 15, 30, 1hr closes. I hope some of you try this and give feed back.

Dath: I agree finalg is a nice program for splitting and merging. But thats all it does and thats not really enough for me. any one Considering It should demo it for the free demo period. http://www.fin-alg.com/tpo_BETA.html hope it helps.

Judy "buffy" MacKeigan, Has a web site http://www.dacharts.com that has a great deal of info on it. She all so has a chat room were she available what seems like 24/7. Her trading is based on P/A. The room and the people in there are pretty advanced traders but if you hang around for awhile you will catch on. Hope it helps.

dhivyalakshmy, You can start by reading market in profile. go to http://www.cisco-futures.com Imho it is not that hard to lean but putting it into practice takes some time. I tried ninja with finag and it worked as was advertised. But I find I can do more with ensign windows. also check out http://www.enthios.com he post live trades setups using MP most days. also ensingsoftware has chat rooms with people using Mp and other stuff. try the bline room. its free. hope it helps trading is hard work that you got to love.

Just my 2 cents. I had trade station for awhile. I liked it just okay. But imho to Pricey for data. I am using Ensign Windows. now and am happy check out http://www.dacharts.com. my broker "infinity futures supplies data at no cost. Invester Rt looks good as well. I also just started to Use Ninja were it is free for charting. as long as you have data. so I am just playing with it. P.S. Hope it helps. Remember its just a platform and it won't make you trade any better.

Software looks good I am thinking of going this rout. I currently am using esign and can not split and merge profiles. Imho I think Mp. is not as effective if you can not build profiles this way. I think you can do it on Investor RT for $55 a month. I do not know much about RT or Ninja.

You can only give some one so much info and it is what they do with it that will make them a good trader. Most succesful traders learn many diffrent techniques from diffrent sucesful traders. And when they get there brain wired right and make a few techniques their own thats when they will make money. So what ever you charge or don't charge does not make a difrence.

Thanks again Blue Ray I am going to turn some of my friends onto this site and I will be spending a lot more time here.

Blue ray awsome indicators Where can I donate. I was thinking of buying this stuff. thanks again so much.

Thanks a lot for the post very nice:) I will try it out