mbfromla

Doesn't look bad, and there is a separation from the 20MA, but in a strong trend like today, it was clear that this sucker was refusing to go down, so perhaps it would've been wiser to wait for an L2 at that point.

I understand where you guys are coming from, having concens regarding risk reward. The reason Brooks has that approach is because that works for him. Doesn't mean will work for you. Complaining about 2 lot contracts: I highly doubt you can make serious money, consistent 5k plus not even talking 10k plus trading only 2 contracts. As mentioned before my goal is 250$ per contract per week, then nothing will hold a trader back to trade 5 or 10 contracts or even 20 contracts with time. in a chatroom of this site most of us, if not all, are profitable 2nd week in a row, i have been doing good trading the methods 3 weeks in a row so far. And market conditions were not all that favorable every day. When you let the 2nd leg swing, that's where you make good money, this week alone there were a few 4- 5 point potentials for the 2nd contract, and one around 10 points swing potential. And again, what works for one person might not and will not work for another, your trading style HAS to match your personality. Otherwise, you might make money a month or 2, but in a long run, your personality will take over and you will loose.

Nice trades, I still think that the highest probability trades for the day were the inside doji bar 8 setup bar and bar #9 short entry. Also, bar #12 short, bar #4 long, and counting backwards bar #14 short.

Don't really understand your question bud, HOD means High Of The Day, it can be anything as long as it's a new high price for the day.

I would like to clarify if i may. Considering a fact that 95% of people attempting to trade loose money,,does make me belive that most people visiting forums are not profitable. In my case, i mentioned before that i will be trading this methods on paper untill the end of August. And my only reason being here, sharing and communicating with people is to make the paper trading and new method learning experience more productive and ease the learning curve, sort of a "study group" with people who have the same goal. However, lack of motivation and cooperation from people, except a select few, simply made me change my mind. That's all. Call it selfish, but if i'm trading 2 hours a day, making 4 digits a day, why would i bother posting charts, or sharing what im doing. Regarding the 3 point gain today, that doesn't mean people who participate this specific forum are profitable traders and make that much every day. In fact, this question was asked in the chat room, out of 12 people i belive only 2 were trading real money. I'm not defending what i said, simply trying to eliminate misunderstanding. I'm spending over 8 hours a day reading, analyzing historical charts and working on other trading related issues that can improve my overall performance, and if someone could pinpoint things that i see wrong or what i don't see , that mutual effort would be very much welcomed, but lack of it,,,,.... Good luck.

From what i understand this was directed to me. I do and will continue to analyze charts at the end of the day, i have a folder where i store the charts and review at the end of each week. Also i will continue to share them with a select few people who do the same. I personally don't like entries at a stop market as well, but after exploring all the other options, this has been working the best. If someone is challenging a specific method, i would apreciate if that person would share their monthly P/L statements, or even statements in a sim account. If any of us was making alot of money trading, belive me, we wouldn't be here. Look at the pivot lines or S/R today. Where would you fade? When most guys in the room made 3 plus points trading price action and were done after the first 30 min.

Here is today's chart guys... I know it was tough day but there were opportunities.

Hi guys, took 3 trades today,,, all good i did 2 contracts, let the 2nd one ride, If did 1 contract,, made 3 points 150$.... however 2nd contract made a bit more total would've been $375... i was done at that point.. There was simply a visual trade considered at 11:20 short,, however i do agree with Maletor now that it was not an L2,, instead was a good H2. A tick before there were longs trapped, but didn't seem eager to exit. ----------------------------------------------------------------------------- If you noticed price never closed below 20ma throughout the day, if one wanted to force trades, they coul've been guying pullback off the 1 or 3 min chart for 2 or 3 tick profits. Good luck all ,, see you guys tomorrow morning.

Hi guys,, here are my today's trades,, these are not an analysis ,,instead trades that i took. Not all entries are perfect, and was definately a very difficult market to trade. I didn't trade after Lunch time had to take a napster. I was thinking alot about max P/L, some suggested having max loss of 3 points and max profit of 2 points. I think it's more reasonable to go for 3 point max profit and 3 point max loss. That way if you trade 10 contracts and have Weekly P/L 1. No loosing days will make $7500 minus comissions. 2. One loosing days Will make $4500 minus comissions. 3. Two loosing days Will make $1500 minus comissions. Having one loosing day a week is reasonable, 2 is acceptable as well. It will be easyer to acheave if you let half ride beyond 4 tick scalp. Any comments or suggestions will be apreciated. My email is job858@yahoo.com

good trading today guys,,,her's the chart for today...

Here is a chart for July 7 guys,,,

This is the chart analyzed by me after the market close. Of course it's difficult to spot all these trades in real time, but i'm working on it. In the chat room we spotted a few of them, but missed some as well. If you have any comments or suggestions, please email me job858@yahoo.com A few of us are discussing dialy trades in a chat room here called Pure PA

Hi guys, this is a chart from Thursday, not much action, but that's what i see so far. During that chop, it was possible to force trades if you looked at 1 or 3 min charts, but it was evident that there is no volatility or volume. any input will be apreciated. We have not yet decided on a permanent chat room, our choice was Yahoo, but for some reason they temporary don't allow creation of new rooms. On Monday we will gather in a main chat room here Pure PR and decide on farther actions.

I'll try to answer to your question at the best of my ability: 1. Market gapped up, that itself indicates strenghth 2. The big red bar did not go below the open. 3. If thebar after the inside bar went down, i would be shorting, however it held the level, and had 2 green inside bars, that usually indicates a reversal. Hope it helps.

one of the guys has a room in chatrooms here called Pure PA i think, i'm very busy now but will be back starting monday , we are thinking to create a room with aim or yahoo chats,,,if interested drop me an email job858@yahoo.com we are trying to get a few guys who are familiar with price action trading to help each other out and get better with time.

ok guys, here is today's chart. Please be advised that this is what i see on the charts,, im sure im missing other setups and not yet perfect in reading price action. Any input will be apreciated my email is job858@yahoo.com

This chart is for today 06.30.09 Perhaps I'm missing some points, but overall was a very difficult day to trade except the large down at the open.

Here's a chart from 6/23 I'll get better at explaining the charts, but this is so far what I see as potential trades.

Hi guys, I'm almost done with the book, and this is what my understanding about trading price action, the chart is for 06.29.09 I've been trading for a while, and from what I understand, 80% of so of a time, if a trade doesn't immediately work out, most likely it will go against you. Therefore 90% of a time if a trade is over 4 ticks against you, most likely stop will be hit. So im thinking to have a 6 tick stop in a regular volatility day. Also, If anyone is serious about trading price action, a few of us could form a chat room on yahoo to discuss it live during market hours, if someone is interested please drop me an email at job858@yahoo.com below is the chart,, comments will be apreciated,,,hope it's not too confusing