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Al Brooks Trading Course (www.brookstradingcourse.com)
Sure. Not disputing the contents of your post.
However, the whole point of this site is to also get opinions from people who have actually had experiences.
Price action is just momentum trading
If it's going up you buy late and down u sell late.
This is simple buy next bar stuff.. if higher or with 50% positive side of bar.
Brooks analyzes charts in his book with historical hindsight.
All makes sense after the move.
I like brooks. His attn to mkt detail and nuance is incredible.
I like his books and he gets you in lat n out late. Not bad really
Keeps you with trend and in trend.
Think of a portion of a river. You have an inner tube and u can only float no paddle.
The river waters can change speed and direction over time. However sometimes the river cycles for long periods in one direction. Others the direction skips back n forth randomly. It's a random walk running river. RWRR
Your task or goal is to get 75 yards east. The river runs straight east to west.
If we get on the river and start our journey we can only go where it takes us but we can hop off or get out of the river whenever we want. We can also jump back in on the river whenever we want.
Obviously if the river takes you in the wrong direction or flows the wrong way then you are farther from your 75 yard way point we call this 75 east point.
Now. Think when will you jump into the river and why? When will you jump off if wrong?
Will you float 500 yards in wrong direction... West then need to make up 575 yards!
This is a fun exercise and you should play it out in your mind. This is water action or flow. Price action water action.
Me personally I would jump in as soon as it started going in my direction east but be ready to jump out fast if carrying me in the wrong direction.
If it goes east towards my 75 east point. Then I say I got lucky and as soon as it starts taking me back west.. I jump off. Possibly gaining some yards toward my goal of 75 east point. Get it. Maybe you wait until river is moving east for 1 minute then you jump in.. it's all up to you. But use this exercise to parallel the mkt. It gets your mind thinking deeply about trading gains n losses but the physical distance sometimes makes you realize it's dumb to keep riding in wrong direction
Specifically the DOM shown here has a column adjacent to the DOM order book sizes buy/sell columns (blue=buy; red=sell) that he purports to display ICEBERG orders. I believe its done by calculating the cumulative summation from Time&Sales, the last trade quantity > the DOM displayed working limit orders for each price level (per timestamped nano second of each trade as the CME disseminates that current size in the book at time of trades) . In the imbedded jpg see the 985(20 working) Bid and the 782(536 working) Offer of the inside market shown above. He's saying the 985 & 782 are hidden Iceberg order types. If true it would give a pretty good indication of institutional support/resistance as those prices reoccur over time IMHO.
Anyone seen Ninja add-on that can do that or could it be Jigsaw; he says he's using Ninja in the vid; this is from 2016 BTW?
