forrestang

Good point! We'll see what AH brings us.

Observations on the day. ---EDIT--- That L2 at 10:45CST below the EMA was probably the best trade of the day after the breakout from that wedge?

Monday was a rough trading day for sure. No real follow through anywhere. I did not catch that 10:30 trade. I kept seeing what I thought was going to be a reversal later in the day that never materialized (3 Pushes, TL break, retest of extreme). Everything was there, it just didn't happen. I did ok for the amount of chop though.

To clarify, that short I posted is not one that I would personally take, mainly because there was too much of a move up, to consider a short there. And in the book, it's stated over and over, that you want to see a TL break then a retest of the extreme. I think I look for this all the time during real time trading before considering reversals. But there are a lot of reversal examples shown that don't seem to meet this criterion.

Here is another question for Al or anyone else with some insight, as this is material from the first 50 pages of the book. On the chart in the picture, bar 4 was said to NOT be a good signal bar for a short. But, it does seem to come right up to the MAJOR trendline, and it is a pretty decent reversal bar(ok sized tail, shaved bottom so it was sold right into the close). It is also the second leg up from a low of the day reversal. So there seems to be a confluence of events that would make this a reasonable short setup, other than it being an L1?

You are talking about these correct?

I actually found this inspirational, I usually don't pay attention to things like this. But you can be successful at trading! Forrest are_you_going_to_finish_strong.wmv

In hindsight looking at your chart, that major Trend Channel seems to be an important basis for most of the trades taken that day for you. For example, the four short trades that were counter to the main trend starting at about 10:45 and on, I can see how you would have confidence to take those....i.e. with the way it fits into the big picture. How long does it usually take for you to get such a clear picture of the day? In this time frame, are you just expecting price to go back towards the bottom of the Trend channel so you are only looking short? The picture should explain what I'm asking.

Yesterday....Don't pay attention to anything after 11:20 as this is where i rolled contracts and merged data so it is skewed. Any reason you're using a 3 minute chart? Did you mark up a chart for yesterday? btw, I've been printing out a black and white chart of the NQ and ES after market everyday and marking it up. It is probably something that is going to be helpful? The ES go over is kind of redundant as i stared at it all day, the NQ is usually similiar but different enough to still gains some perspective usually. And this book is taking forever to get here, ordered a week ago, and didn't leave amazon till the 10th, wtf?

Any other takes or observations on the day from others?

I'd love to hear more detail about this.

just some observations from today.

Nice ACS!!! ^^^ Observations during the day. That last trade required a big stop, but target would be back to balance area. The rest of the chart should be explanatory.

I saw that one, there are so many. There was another micro-trend break (L1) trade that occurred @ 10:45 for a short entry. Does brooks talk about which trades are the very best in the book in greater detail in efforts to filter down trades? I will be able to read it soon once it arrives.

As i understand it, you're supposed to do the second thing you mentioned. What you initially did is enter on a FULL 3 bar reversal that forms a pivot. I'm attaching a picture, but it's also in page 2 of that pdf with a description of how brooks does it.

Thanks BF, all trades I'll post are ES unless otherwise stated. That was a 5min on ES. Also, as of 9:35CST this morning, on that two legged pullback, that last push down was that a '3 Push?' if it was it would have been another good trade.

I don't mean to clutter up the thread, but here's an L2 from this am. 1.00 scalper portion hit on 1st half easily.

Here is an updated one with entries/exits, and few examples from the 'month of good trades' swf file. Brooks Setups2.pdf

Better quality of pdf. Both pdfs are the same. This post can be deleted. Brooks Setups1.pdf

I've created a pdf that is a "basic" summary of most of the material in the movie. Most, but not all of the pictures are in this pdf. I've re-arranged some of it to make more sense to me (order of the slides). Some of the commentary might be a bit hard to read after the conversion. I've also added some commentary to the slides to help me understand it. Hope it simplifies things for someone else. I'll probably update or create another one once I get through the book. Forrest Brooks Setups1.pdf

As long as u've got the plug-in.

I am reading the first 50 pages in the book and I'm feeling like a retard. I will have the book shortly, and I am hoping it's not such a tough read. Al is an interesting guy, when he speaks about his trades they all seem logical. He definetely seems like the recluse he describes himself as. Like you can just imagine this guy in a dungeon with a laptop trading.

Some good trading in there today. My attempt at looking at the background in attached pic. ---EDIT---- On that last bubble, I mean if we get a bounce of the previous resistance area, expect a nice trend to the upside to develop.

Hmmmm..... Well as you mentioned earlier, we've been in a trading range for a while now. We had our Break Through Supply, we've had an up day on what appears to be less than average volume, with a middle close....'No Demnad?' So, we're probably due for a retracement or an up move. I'd suggest based on closing volume we should expect a retracement back to what is now support. Trades to the short side should be expected, but we won't know till tomorrow? Any other opinions?

I was looking for a retracement of some sort.