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bobs qwest to attain consistency


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bobs qwest to attain consistency

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  #271 (permalink)
 bobarian 
whitestone, new york
 
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1/26/2012
thurs
4 trades
-10 ticks net
price action driving up to the trendline on the 60 min..Premarket was better trading.The better trades seemed to be the new trades ive been working on.The trend plays have been tough for the last few days.

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  #272 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
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Hi Bobarian,

Here are some posts I did relating some of my experience with BPA. (Brook's price action) and trying
to illustrate a few examples:






I noticed VinceVirgil has great positive trades of pa with s/r, in his journal. Although, I'm not sure to what extent he uses specific bpa. In general, one doesn't need to trade exactly like Al does on the 5 minute ES chart which are slow ticks and a lot of slow waiting. You can also use his ideas with other trading strategies or methods along with S/R lines/pivot point lines, and other faster tick moving instruments such as the 6E, TF or CL. Also I found reading the first original book and re-reading pages until I understood every page gave me a great boost to my understanding of bpa. Reading the book counts as some chart analysis practice because it forces the reader to analyze most every chart on most every page with the same pa concepts over and over again throughout the book. (This was before the new books. Now I have all 3 new books and am going through them which is a little easier now I've learned the terminology; but Al also has tips to read the new books in the intro also.) Hope this helps.

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  #273 (permalink)
 VinceVirgil 
Toronto, Canada
 
Experience: Advanced
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Cloudy View Post
Hi Bobarian,

Here are some posts I did relating some of my experience with BPA. (Brook's price action) and trying
to illustrate a few examples:






I noticed VinceVirgil has great positive trades of pa with s/r, in his journal. Although, I'm not sure to what extent he uses specific bpa. In general, one doesn't need to trade exactly like Al does on the 5 minute ES chart which are slow ticks and a lot of slow waiting. You can also use his ideas with other trading strategies or methods along with S/R lines/pivot point lines, and other faster tick moving instruments such as the 6E, TF or CL. Also I found reading the first original book and re-reading pages until I understood every page gave me a great boost to my understanding of bpa. Reading the book counts as some chart analysis practice because it forces the reader to analyze most every chart on most every page with the same pa concepts over and over again throughout the book. (This was before the new books. Now I have all 3 new books and am going through them which is a little easier now I've learned the terminology; but Al also has tips to read the new books in the intro also.) Hope this helps.

I can tell you about BPA. I really use a couple of the setups he says to look for in Chapter 15 of his first book. In the first paragragh of the chapter, he states that is you stick to the setups, on the E Mini, this is what he stated.

" If a trader had the patience to wait possibly for hours for one to develop (best trades) and only restricted himself to the trades in this chapter, he would be a very successful trader. However, restricitng yourself to the very best trades is the most difficult part of trading. If you arn't making money yet, it is something you seriously need to consider trying. One important component to making money is avoiding bad trades that invariably erase much more than what you will earn from your good trades." Page 353, Reading Price Charts Bar by Bar for the Serious Trader

I tried the ES, but I changed to CL in at teh end of November. I changed because the ES was killing me with boredom. I was making trades that were foolish because I was bored, and that was, needless to say, unsuccessful. I had dabbled in CL, but I listened to my broker, and didnt consider it as an instrument to trade because "beginners are not suppossed to trade CL" But, I figure, everyone who starts to trade CL is a beginner, by definition.

So I use BPA on the CL, but I have worked I have my own codex for entries, using many of PA principles with regard to S/R, Trends, Ranges, Reversals. I trade a 5 min, with a 30 minute for comfimation. The majority of successful traders trade a longer time frame. I tried the 1 minute, and the 4 range, and I got massacered. Entries are on the 5min. My indicator is a single 21 EMA. Works for me, so I am sticking with it.

For me, less is more. I have too much going on in my head, dont need to see it on the screen.

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  #274 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
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Trading: CL,NQ,YM
 
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Interesting ideas VinceVirgil, thanks for sharing. I would agree that anyone just starting CL is still a "newbie" to CL. It behaves differently. I think Deucalion said somewhere in his posts he had decided to tackle different markets no matter what their difficulty level.

As for me I've been trying the CL again, just scalping. I'm using 2min for analyzing and 1 range for scalp entries. I'm also looking to try the TF , trading on that instead taking slow and fat tick trades on the ES. Here's my cl trades for a small session 2 days ago. It's a cleaned up chart. I also have a few 3rd party s/r levels, kwik-pop pivot lines, eminwatch.com volume indicators etc.

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  #275 (permalink)
 bobarian 
whitestone, new york
 
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Cloudy View Post
Hi Bobarian,

Here are some posts I did relating some of my experience with BPA. (Brook's price action) and trying
to illustrate a few examples:






I noticed VinceVirgil has great positive trades of pa with s/r, in his journal. Although, I'm not sure to what extent he uses specific bpa. In general, one doesn't need to trade exactly like Al does on the 5 minute ES chart which are slow ticks and a lot of slow waiting. You can also use his ideas with other trading strategies or methods along with S/R lines/pivot point lines, and other faster tick moving instruments such as the 6E, TF or CL. Also I found reading the first original book and re-reading pages until I understood every page gave me a great boost to my understanding of bpa. Reading the book counts as some chart analysis practice because it forces the reader to analyze most every chart on most every page with the same pa concepts over and over again throughout the book. (This was before the new books. Now I have all 3 new books and am going through them which is a little easier now I've learned the terminology; but Al also has tips to read the new books in the intro also.) Hope this helps.

thank you cloudy, the pics are very helpful, with the h1,h2 .I appreciate it

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  #276 (permalink)
 bobarian 
whitestone, new york
 
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1/30/2012
monday.
4 trades
+24 net
3 shorts, 1 long(a mistake.
there were plenty of takable longs, just not the one i took!
I went skiing this weekend, and as usual, did alot of thinking.I have been spending alot of energy, just trying to stay positive.A break was needed, and was nice.Got home sunday, and started working.I have been spending time with the Al Brooks webinars, and some other traders , have been kind enough to share what they have learned.Actually, in late november, i became very interested in his trading.His logic, makes alot of sense to me.Ok, so, with just a little bit of time invested in Als method, i have begun to apply some of the trades.Honestly, these are trades that i should be familiar with, but, my quest for the holy grail obscured the true lessons, not to mention all the indicators i went through.
***********ok, to sum it up, i am looking to trade with the trend(always), and i baically am focussed on the trendlines.Less diddle in the middle.If a bottom is tested , for example(like today)and the shorts continuously fail, this is a logical area to look for longs.On the same track, when price goes up, and the longs start to fail(either at a pivot or a trend line , we look for shorts.The profit target depends on how much room we have.Its kinda like goal tending in the NBA.You hang around the basket, and just wait for the ball to show up....if it does, youre in position to take the easiest high probability shot.
*******i tried to work the 4 range in, and it just didnt work.Ifelt, that, i had to try one last time, and i finally retired it.I will say though, that it took about a month , and i was finally getting exasperated, and gave it the boot.This was the right choice...however, i was definately a little burned out from it.Im sure veteran traders would view this as being sidetracked again, and maybe theyre right.I will never discount the opinions of a successful trader, as, i obviously have more work to do.I find myself wondering, if the 4 range was a huge waste of time.im not totally sure.One thing i do know, is i have an urgency to proceed.Frustrated, or not, i need to proceed and hopefully progress.

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  #277 (permalink)
 bobarian 
whitestone, new york
 
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1/31/2012
tuesday
8 trades
-51 net
oy
the video is too painful.A good example of seeing the leaves, not the forest.When the market rallies straight up, i typically have trouble.Its not orderly, and the ranges of the bars are too big.The solution?stay out.Wait for order to return.I completely ignored my line charts today, and thats a no no.I will post the chart.

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  #278 (permalink)
 bluemele 
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We want the video, we want the video....

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  #279 (permalink)
 bobarian 
whitestone, new york
 
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bluemele View Post
We want the video, we want the video....

lol! i tried, but i honestly was having trouble explaining why i took some of the trades! a tilt big time.That big move in the beginning , i need to be patient when that happens, as there were trades today

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  #280 (permalink)
 bobarian 
whitestone, new york
 
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oh, and another thing....If i would just focus on what i have here, and stop exploring so much, i might actually get my consistency.I have an amazing capacity, to get sidetracked.Hmmm

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