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hi,
I am curious to know what Mr Brooks mean with so many KEY setups highlighted with BLUE box and YELLOW marking, I have seen read me post, however not sure does he mean to take all the setups where possible. For example in picture below if someone takes short setup 1, how to handle setup long setup 2? if anyone in this charts wants to take all setup in range market it's probably overall losing strategy.
just checking on this one, appreciate your input on this topic please, thanks
just checking on this one, appreciate your input on this topic please, thanks
Hi Bidy,
No, you are not supposed to be taking all those marked trade entries that Al puts on the chart. Al is showing all the potential trades of which experienced traders could be taking several a day, no more. If very experienced, and with benefit of deep pockets!, you could be adding on to good trades - so again, the many setups shown give reasonable entries for that too.
The blue rectangle setups show beginner trades, and yes, they can fail like any trade we take. In the case of 1 and 2 marked, 1 would have worked if stop held above tight range. Setup 2 would not have worked, and been a loss. The later blue-marked longs would have also failed so be very careful not to add on to such trades. In my view, beginners and less experienced traders should never add on to losing trades as it can wipe out accounts quickly when things go south, as they often will.
Hope this helps. Just my 2 cents. 🙂
Thank you.
