A day that I could read my chart with relative ease - familiar setups, familiar candle lines and patterns, some of which I traded, others I passed (I'm still needing a fair amount of time to check for traps and track the big picture between trades)3 contracts is good for me for now - it allows me to add when I've entered prematurely. 5 to 6 is the full size.
I'm still using the tape instead of entering on buy-stop order a tick above and below. The latter just doesn't work consistently enough for me to want to continue to deploy it. The tape's still my best friend.
I should be done with simulated trading by end of May. Will post only on days like today ie. my kind of day - chop / range day (trend day's not good for me). Mondays have been terrible so far (found out the hard way) so I didn't even bother with it yesterday.
Leon,
looks like I'm going to have to give Brooks a miss. Am developing flu-like symptoms and think I'm actually feverish. Will check the archive for the webinar.
9 comments:
Nice reads on the price action Jules.
Hope you feel better soon.
"I'm still using the tape instead of entering on buy-stop order a tick above and below. The latter just doesn't work consistently enough for me to want to continue to deploy it."
I found this to be a problem when I tried using Al Brooks tactics in the past. It sounds good in theory, and occasionally works, but in general the ES will reverse and stop hunt. But as most can tell, your ability to read the candles is what makes you a success Jules.
Yes, DT, Brooks' method for entry works sometimes eg. on really good days...his book is still a gem though...enlightening and filled with wisdom on the workings of the market. I personally feel that entries and exits are never straightforward and when you add risk mgt into the picture it gets even messier. There's no "model" entries and exits, in my opinion. Each trade is independent of all the other trades you've taken and only experience can tell you if it's one that's worth holding.
Jules....
I think I want to change my broker..currently evaluating AT Infinity, Global futures Strategy Runner, and maybe Mirus' Ninja trader...no trade now as i have headache evaluating them all at once...
TST,
Send me an email I'll forward you my broker's info. He's good.
Sent you an email. TQ
I am such a trend follower, just made an order for Al Brooks' book. :)
Yay!!! Welcome to Club Brooks, Cory! LOL!!!
trailingstoptrader, Ninja is great if you are a chart trader. They have a great feature where you place your entries and exits based on the chart.
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