Futures I Trade Show & Brooks Book

[ochie 10]

Here is a PDF version of that futures mag article I had come across a while back. It does include a couple of charts in the doc. GL

5-Minute to Fame in the E-mini.pdfFetching info...

[monad 10]

  ochie said:

Here is a PDF version of that futures mag article I had come across a while back. It does include a couple of charts in the doc. GL

 

Thanks,

did contact Al Brooks regarding this, looks like to view the charts in the articles published by Futures Mag. you have to subscribe , however he said the books did have all the charts and explanation, but the publishers Wiley have chosen a format where the charts in the book do not look that great, will have to wait and see till the book arrives in a day or two;)

[BlowFish 10]

The book arrived on the day I departed for a long weekend. Having returned now it was there waiting for me. The charts are a wee bit small but then again I probably need reading glasses. I can make out what is going on. The layout could be a bit better too (greater use of white space to ensure charts and notes are one the same page).

[rigel 10]

Blowfish,

Having gone through the video and pdf articles, overall it appears there is some good material in Al Brooks work, regarding how to keep it all simple, ie. trade via a single chart and a single MA, with basic patterns, trendlines etc.

 

But as he says price action on any chart appears same whether it is 2min or 5min or 30min or daily charts and even if they are 100yrs old, hence many of the patterns and setups are exactly the same but have been given different terms

 

e.g Double tops, failed breakouts

Holy grail setup of Linda Raschke, and she calls 3 Pushes as 3 little indians and a H1 or L1 trade as Short Skirt trade.

The 2 legged pullback or retracement with H2 and L2 would be equivalent to Zig-Zag pattern of Carolyn Boroden

Retracements to 20ema is a populer setup , there is a thread here in the candlestick forum I believe.

Then the variation on H1,H2 etc are just inside bars.

 

Use of trendlines, channels is beautifully explained by Wyckoff and ofcourse reading the same action but with the benefit of volume (Effort) is of much greater benefit IMO

 

However having said that, the keeping it simple approach is great. Perhaps you can post some charts after you go through the book to keep this thread going.

 

I have looked at Dax and Ftse, think you have to go down to 3min to work with those setups, on Eurostoxx 5min chart should be o.k

Edited June 2, 2009 by rigel

[BlowFish 10]

Rigel,

 

As Brooks would be the first to say (actually he does say) price action is price action. Having said that there is a wealth of his particular observations, if such and such happens so and so is more likely. There is a lot of these observations to digest. I am thinking that taking things slow (not my normal way of approaching things!) might be better just concentrating on the core concepts and then building on those.

[monad 10]

Just got my copy, the charts are not that bad, definitely require a magnifying glass though, guess Wiley&Co. were trying to pack all into minimum no. of pages to keep the costs down. Still it is the content that matters.

 

Yes Rigel, lot of the setups have been documented in a number of books , as Blowfish points out Al also points out the probable scenarios that could unfold.

 

Taylor does this for each day of the 3 day cycle in his book which is a more difficult read than Al Brooks , however understanding price action as per his style would certain allow better entry and detection of reversals. Ofcourse this would be complemented by vol analysis as per Wyckoff.

[BlowFish 10]

Nice DAX entry. Green line shows my (obviously premature) exit. The tail on the entry bar made me wary. Still ample for the day. Not beyond the realms of possibility to expect a decent trend day after yesterdays narrow lack lustre action on the indexes.

 

Clear downward momentum. Rising wedge with over shoot against the outside line. A H2 also. Actually used the 1 min for a more aggressive entry.

[BlowFish 10]

A re-entry that I skipped. Last bar on the chart triggered but would rather enter on a 2 legged correction nearer the triple tops.

[BlowFish 10]

Entry a few moments later (1 min chart to time it again) Finding it hard to annotate post and trade in 'real time' with fast charts.

[rigel 10]

Blowfish,

Looks like you are getting the hang of Al Brooks style of trading,

How is the volume on the ladder on the Dax,

Do you enter on stop orders like Al.

thought you had problems with slippage before on this market.

[BlowFish 10]

Actually this is the hardest thing I find. My normal inclination is to enter on limit and wait for price to come to me, of course that puts you counter trend with regards to the last tick. On the plus side you get a much closer stop. In the interest of 'doing it properly' I have been using stops to enter (or market orders if the immediate price action seems to warrant it). So far the worse slippage is a tick or two. I do often dial down to 1 minute to get a closer trigger.

 

This is one of those age old dilemmas the longer you wait the more confirmation you get (by price moving in your direction) but the more risk you must assume (as price is further from natural S/R).

[rigel 10]

Tick or two slippage on Dax would be 1pt ~25euro,

thought you encountered much more slippage than that.

 

Has the volume on the ladder improved, previously it was around 20-40 each side

[BlowFish 10]

In fast markets you can. A few days back there was an 80 point run up in seconds. Funnily enough the price retraced a 1/3 and locked into a narrow range for ages. Whilst markets with this sort of character can give you slippage chances are you will get a couple of points of slippage and find yourself 10 points in profit by the time you get your order confirmation back. In other words they can be pretty good for this style of scalping.

 

Taking the spike a few days back (I wasn't in for it) as an example you might have had 10 points slippage but would have found yourself 50 points up in seconds. Of course if you faded that on a limit order (I have in the past) you would be feeling pretty sick. I think Brooks talks about this somewhere, he says something along the lines of he actually likes slippage as it tells him he's on the right side of the market as people are trapped in or out. Not that you get much slippage on the S&P but he does trade a few stocks too.

[forrestang 10]

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.

[daedalus 10]

This is awesome. I just stumbled onto the Al Brooks stuff yesterday and have been re-watching his seminar many times. And whadaya know... the main man at TL mr BlowFish is already in here with a thread on the subject.

 

Fantastic! Keep it up... i'm really trying to focus on this kind of minimalistic approach and I love to see examples of these types of setups (i'm a visual learner). Hopefully I can post up some trade examples and get some feedback.

[ACS 10]

Is anyone able to either get the images from the May Al Brooks videos or figure out how to download them from the server. I tried to extract them from the swf file but my software said there were no images available. Many of them go bye so fast during the lecture that it's difficult to get anything from them. It would sure be nice to have them available to view at leisure. Many thanks to those responsible for the video downloads!

[thetatrader1520887476 10]

Try this swiff player you can pause and ff.

GlobFX - Downloads

 

I found it on another TL forum.

 

Hope it help.

[daedalus 10]

^^^ Or just use Internet Explorer to open them... file > open > ... it works.

[forrestang 10]

  daedalus said:

^^^ Or just use Internet Explorer to open them... file > open > ... it works.

 

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

[forrestang 10]

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.pdfFetching info...

Edited June 8, 2009 by forrestang

[forrestang 10]

Better quality of pdf.

 

Both pdfs are the same. This post can be deleted.

Brooks Setups1.pdfFetching info...

Edited June 8, 2009 by forrestang

[forrestang 10]

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

Brooks Setups2.pdfFetching info...

[BlowFish 10]

Good stuff FT, much better effort than my plain text bullet point list.

[forrestang 10]

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.

[BlowFish 10]

Nice trade, direction and momentum clearly down and a 2 legged pullback would be one of the safest entries according to AB. What is the instrument by the way?