Statistics

Do any experts know what stats to record and how to use those

You can write down all the stats you mentioned. In the future you will find out which are usefull.

Is the risk reward ratio forward looking only, or can it be used after the trade to evaluate your stats?

And how are losses calculated?

Risk/reward ratio= risk ÷ reward

Win Example> buy @25, stop@20, Risk=5, Reward(2x Risk)= 10

So risk/reward ratio (5÷10)= 0.5

Loss Example> buy@25, stopped out @20, loss= -5

Is that risk(5) ÷ reward(-5)= -1 ?

One clear thing: stats will not make you a better trader not will allow you to know if you are progressing. If you want to play with them, go for it (we all did!) but for you to assess where you are in your learning process they are almost completely useless. They show the result, which you don't control, and say little about the process, which is what you are learning. 

For a learning baseline, use instead the daily setups section: are your entries marked by Al, especially if they are blue-rectangled? and same thing for the exits... that's all you need!

1. For daily setups, is that done by simulation bar by bar, hiding the bars to the right. Or print the entire chart, then markups viewing all the bars? Isn't that cheating?

2. Do any successful traders disregard record keeping /stats/ performance evaluation? I noticed that is not covered anywhere in the course.

Do any successful traders disregard record keeping/ stats/ performance evaluation?

1. For daily setups, is that done by simulation bar by bar, hiding the bars to the right. Or print the entire chart, then markups viewing all the bars? Isn't that cheating?

First, mark at the end of the day; once confortable, move to simulate bar-by-bar.

2. Do any successful traders disregard record keeping /stats/ performance evaluation? I noticed that is not covered anywhere in the course.

Yes, no use. Not helpful for learning; and once you know, only useful to let others know that you know. In other words, just good for selling your performance. Every trading platform provides a basic set of statistics for your trading, have a look if you wish and play with them.

Ludo, 

When you say "mark at the end of the day", are you referring to Al's Daily Practice?  https://www.youtube.com/watch?v=AGyOld9iY8U

(This video should be part of the course!) 

I've been doing this for a month now without fail and I've seen a noticeably difference in my trading. 

When you say "simulate bar by bar" are you referring to something like a Forex Tester or just doing a bar-by-by exercise of some sort? 

I always find your feedback extremely useful. 

Thanks in advance!

When you say "mark at the end of the day", are you referring to Al's Daily Practice?  https://www.youtube.com/watch?v=AGyOld9iY8U

Yes!

(This video should be part of the course!) 

It is, you can find it in the bonus videos section.

I've been doing this for a month now without fail and I've seen a noticeably difference in my trading. 

Of course 🙂

When you say "simulate bar by bar" are you referring to something like a Forex Tester or just doing a bar-by-by exercise of some sort? 

The later. Once you can see things in hindsight you need to start trying in real-time, so you can trade SIM or, much better, do MKT replay (many trading platforms have this feature) because this allow you to do several days in a single study session (you select the speed at what the bars are printed on the screen), and you can compare right away with Al's reading because you are trading the past, so Al's analysis is already available (don't to check both the daily setups in this web and with then bar-by-bar analysis in brookspriceaction.com, available only for the days that Al is in the webinar). If you instead, do SIM trading with current trading day, your feedback will come next day but, more important, you just can do one session per day. While learning, this makes you going slow. If you can't make MKT replay (because I use some web based trading platform), just hide the bars and scroll. Same thing.

I always find your feedback extremely useful. 

Happy to help!

Regarding markups/compare with Al, how do we score it? What is the goal?

What about differences? Examples> I lable entry/Al does not. I lable pattern/Al does not. Al lables entry/I would not enter.

Regarding markups/compare with Al, how do we score it?

You only take stop entries labelled by Al and you only exit at stop entries labelled by Al. The more of those with blue-rectangle, the better...   

What is the goal?

The goal is to not take any trade not labelled by Al.

What about differences? Examples> I lable entry/Al does not. I lable pattern/Al does not. Al lables entry/I would not enter.

Most of the time ¡t will be a bad reading on your side. You don't have to mark all the trades  but all the trades you mark should be marked by Al.

On this day, I thought BTC bar 3 (or stop entry) looked excellent, but that was not marked.

Also, I thought the ii bars at top of Bull leg were a FF, but that was not marked.

Is there a place to discuss and learn about discrepancies/questions regarding markups? (with experts)

On this day, I thought BTC bar 3 (or stop entry) looked excellent, but that was not marked.

Also, I thought the ii bars at top of Bull leg were a FF, but that was not marked.

This is why this section helps a lot. Not marked, you made a mistake.

Is there a place to discuss and learn about discrepancies/questions regarding markups? 

There is a dedicated forum for this. Find it below:

https://www.brookstradingcourse.com/support-forum/encyclopedia-of-charts-patterns-daily-setups/

(with experts)

Not many experts around, but we will try to help nonetheless.

Ok. Wow! This is a whole different level of training. Thanks!