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Hi,
i've nearly finished my first watch through of the video course.When I finish,im going to start over again, this time taking notes and screen capture of all the slides.While ive been watching the videos over the last month(5 hours a day),i've not studyed charts or sim traded.My approach was to just focus on the course with no distractions.During the next watch through, do you advise I start studying charts and getting my feet wet in the MES,learning as I go?
Regards Andy
MES chart is slightly different than the ES so I would suggest to start watching the EMINI and comparing your reading with Al's in the daily setups for swing traders, in this webpage, and the bar-by-bar analisys he does in the BPA website. Also you can try the webinar. And once you feel confortable reading and trading the ES in SIM, yes, it is a good idea to go to the MES and start taking live trades.
Hi,
one more quick question.What time frame should I use on the MES,still 5 mins?
Also I was wondering why on all the videos the comments section after each video reads 'comments now closed'?
thanks Andy
I recommed to stick with the 5 mins because only then you can take the advantage of comparing your reading with Al's. Also you can send him questions and watch the webinar. These resources offer incredible value to be not used when starting out.
Regarding the comments section, it has been moved here to the forum, so old relevant comments will be moved by the Admin as soon as practical.
@ludopuig
Ah ok.
Also,im watching section 46 'trading broad bull and bear channels'.When I start trading live ,I will be concentrating on 1 or 2 setups to start, say mtr and db,dt.Al says in this section of the videos that 60% of mtr don't end up into bull or bear trends/chanels.Can the odds improve when its a DB or DT or wedge top or bottom coupled with the MTR?
Thanks again.
Regards Andy
MTR's maximum probability for a swing is 40%, even with DB/DT. So your probability only goes up once you see good entry bars even with good setups.
Is it a good idea to start with just 1 or 2 setups, say for a month, then add other setups onto it until ive got the whole picture?
TR's maximum probability for a swing is 40%, even with DB/DT. So your probability only goes up once you see good entry bars even with good setups.
Too many things to put in your head so, yes, start small with what seems easier for you and start adding new things when you feel it is the time.
MTR is a great starting point because Risk Reward is very good and these reversals can be seen forming many bars ahead, so you can be ready when they happen. The downside is that you will have only 1-2 trades a day, so you need to be patient.
Lol,yes,i realise its an undertaking, but I don't think its wise to go and try and trade say 10 setups.I do like a nice flag or wedge though, ill have to see which ones to pick when the time comes.The thing ive had the most trouble with is H1,H2,L1,L2.I spent about 6 weeks learning Macks 2lpb courses that's kind of in there.I know All method for spotting second entries is more or less the same, but for now I may have to stick to Macks method until I read more on Als method.
Thanks for your help and advise, much appreciated.
Regards Andy
