Watching this keeps me going through the many thousands of hrs of chart studying and emotional hardship. It shows me with hard work and following the book exactly it's not impossible. Great trading. Hope to be at your level in the future to come.
Been studying since 2008 myself, I've observed Al brooks, read from his books (own 3 of them), back-tested thousands of trades with Ninjatrader, bar by bar analysis, no cheating, no looking ahead, planning each potential entry bar by bar. If it goes up to some price I like, I have my mental buy-stop in place, or I might place a mental limit order ahead of time (to buy as price retraces back to it), exits only count if price pushes past it by 1 tick otherwise your backtesting results aren't accurate. Extremely difficult game, and my results have been breakeven - slight winner, and but no win-streak of mine has ever gone above +40.00pts, just know what you are getting into. Without backtesting/simulation its probably impossible. Just my 2 cents.
Great content thanks Mack please keep thr trade examples coming on Fridays 😃 I trade a bit different using PA and Andrews Pitchfork but great stuff you got!
I've seen people talking about PATs so I had to take a look. Just realized it's one of the exact same damn things I trade... Except I call it ONE TWO BOOM! Lol
At 1:28 mark isn't that a first entry long? Doesn't the count start over when a new low is established? Although there are some arguments to make, I wouldn't have taken the Long Entry, because it's congested and also I see it as a 1st Entry. It's also the first attempt to break the trendline, which usually fails. Also, it was the at the top of the channel. Thanks for the video.
@@ishaq9939 Hi, That's a downtrend, actually. But I figured out why Mack's treating it as a 2nd entry. It's because the new low is part of a group of prices where the 1st Entry occurred. In other words, it's not way below the congestion. Technically, it's a 1st entry, but it's not treated that way. I think the interpretation of situations like this is subjective. Thanks for replying.
Just use a stop-limit entry order instead of a stop-market. Even if you miss what's there it'll sit there as a limit order. The ES almost always backs up & fills you before taking off.
Can someone please tell how to add the drawing tools to the header panel of a chart? Also, what is the trend channel tool that Mack is using? Is it something custom?
Yeah, these guys typically have a 90%+ win ratios. I saw another guy trade this system and he said he was shooting for 95% probability trades which blew my mind.
