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brownsfan019

Futures I Trade Show & Brooks Book

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I would give a slightly different answer to the forex question.

 

Markets tend to behave slightly differently (so, bund trends for more pullbacks then estx for example). The explicit method here is tuned for US equity indexes. To get the most out of it in another market you would need to tune it to that market.

 

I trade something quite like Brook's method and have traded it on HSI, then SPI, and STW, and now back to HSI. I originally started it on GBL and Eurofx during the european session. At each step it has evolved slightly ... and to my surprise the version I trade on HSI now isn't quite like it was before I traded SPI and STW. Markets change too.

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Guest Maletor

Trading is fractal. Anything that "works" works on all timeframes and all efficient markets.

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Trading is fractal. Anything that "works" works on all timeframes and all efficient markets.

 

 

 

Simplicity is a hard sell.

 

 

Opportunity in all markets and time frames is derived from the order flow.

 

There are only two entry setups to enter that order flow, a breakout or a pullback.

 

Ect.

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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.;)

 

Thetatreder

thank you. I would like ask you to post some of your trade .It would be very useful for me. Thank.

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Here is long with trend setup for EURUSD pair

 

The setup you've shown is very similar to what I'm working with at the moment. I've watched one of the flash videos on this thread, and was a bit confused with the L1-L2-H1-H2 labeling, and didn't want to add any noise to what I was already doing. But if the book is basically what you've shown here, I might have a look at it.

 

I've attached a chart of what I'm looking at now for example.

 

Thanks.

trend.gif.25144e93d11f322e5f3f48092f124b75.gif

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ON another note not really related to trading, I have one of my buddies I've been studying the market with over the past year reading the book.

 

He says, "I feel like i tested into a class I have no business being in."

 

I thought that was funny :rofl:

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The setup you've shown is very similar to what I'm working with at the moment. I've watched one of the flash videos on this thread, and was a bit confused with the L1-L2-H1-H2 labeling, and didn't want to add any noise to what I was already doing. But if the book is basically what you've shown here, I might have a look at it.

 

I've attached a chart of what I'm looking at now for example.

 

Thanks.

 

Mr. Brooks recommends buying H2s and shorting L2s as I see it in your chart (I must have missed a bunch too).

forex.jpg.4e8a51e6a6da325025f81a4201896785.jpg

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15 min EURUSD setups

 

Here is an EURJPY short from last night. I use range bars for these screenshots, but I typically identify opportunities using a 15 minute bar chart. +37 ticks at first target and +112 ticks at second target (assuming the trade was held for targets with initial stops).

5aa70ef82bbf7_7-05-2009EURJPY.thumb.jpg.bb3dcbdf8be4a4b3575b09d2ae548899.jpg

5aa70ef830efe_7-05-2009EURJPYShortwithTargets1.thumb.jpg.782f379994b8bedc363e656495a5e59c.jpg

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Guest Maletor

Here are the ES trades I saw for the first 90 minutes.

 

Let me know what you think... The microtrendline was not perfect as there could have been a channel overshoot.

 

L1 barely filled.

1246892428_48_UploadImage.thumb.png.8b49bd980e13bdcec28d8ae5bcda60ef.png

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Here are the ES trades I saw for the first 90 minutes.

 

Let me know what you think... The microtrendline was not perfect as there could have been a channel overshoot.

 

L1 barely filled.

 

That 'ii' could have been taken either direction. You got your scalp portion filled to the long side which came first. Then you could have considered that a failed breakout/long trap and gone to the short side. Either way worked. Some guys I'm trading with did both this am.

 

I think the microTrenline trade was fine (although it really didn't break a TL, but it was a L1), there was momentum there so no reason to not expect follow through, what kept me always was I was hesitant to short into the Globex Low. But I think it was a decent L1 to take with strong momentum.

 

You also missed the best trade of the day, which was the first bar, gap breakout trade.

 

Forrest

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Also missed the best trade of the day, which was the first bar, gap breakout trade.

 

Forrest

 

Could you elaborate on this with a chart.

Do you mean going long on the breakout of the high of the first 5min bar.

If so, would appreciate if you point out the chapter or pages on which Al Brooks explains this strategy. I am still in the first few chapters.

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Could you elaborate on this with a chart.

Do you mean going long on the breakout of the high of the first 5min bar.

If so, would appreciate if you point out the chapter or pages on which Al Brooks explains this strategy. I am still in the first few chapters.

 

Page 302. Trend Bar on Gap Open.

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Guest Maletor

I haven't gotten to the chapter on "The first hour" ... yet.

 

I took the L2 on the pullback which quickly turned into barb wire and stopped me out. The L2 was also a channel overshoot.

 

Here are two nice setups during lunch:

1246903865_59_UploadImage.thumb.png.60c4c512f449a1864c7f2efb3e1a1179.png

Edited by Maletor

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1 contract

$12.50 AFTER Commissions -$40

 

10 trades 3 Winners, 7 losers

 

Got caught in Chop(In hindsight). Chop(Barbwire) continues to be my biggest Problem. Its EASY TO recognize AT END OF DAY, but real time its Hell.

 

No setup to catch the morning Drop UNLESS u chased. Big moves usually happen with no clear setups.. nature of the Beast

MYSETUP.thumb.JPG.23f0e38140fd915b772db2c09360a183.JPG

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Two trades based on price action only. I have not read the Brooks Book, but I imagine from the title that it is price based trading and not indicator based.

 

ES long at 888.25 sell limit 893.50 +21 ticks

 

6E long @ 1.3944 sell limit 1.3977 +30 ticks

 

Best Wishes,

 

Thales

5aa70ef854296_7-06-2009ESLong5andquarterprofit1.thumb.jpg.34ad4625cb9300d62950f32af4576fc3.jpg

5aa70ef859a28_7-06-20096ELong30tickprofit1.thumb.jpg.f660ce9796fef1b4eaaacac12d30ccbf.jpg

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Big moves usually happen with no clear setups.. nature of the Beast

 

My experience leads me to hold a contrary opinion: Price nearly always telegraphs where it is likely heading, regardless of the extent of that move.

 

Best Wishes,

 

Thales

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My experience leads me to hold a contrary opinion: Price nearly always telegraphs where it is likely heading, regardless of the extent of that move.

 

Best Wishes,

 

Thales

 

True. Resistance on the ES this morning was at 891-2. Entry was at or about 890. After that, it was a simple matter of following the trend to 882. And only one trade.

 

Good luck tomorrow.

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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

06_06_09.thumb.JPG.e3ce296951e0171045c0c14ca487feae.JPG

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