al-brooks-course
14 - 10 Emini Scalps on 15-Second Chart
Raw transcript and slide notes for 14 - 10 Emini Scalps on 15-Second Chart.
Overview
- Slides: 7
- Transcript segments: 371
- Status: 自动按 slide 时间线归档；核心概念和长期笔记可以在每个 slide 的
Study Notes下继续整理。
Source Media
Transcript 001
Time: 00:01
Bilingual Transcript
00:01 - 00:04
EN: Hi, I’m Al Brooks, and this is a bonus video
00:04 - 00:08
EN: on extreme scalping of the Emini 15-second chart.
00:08 - 00:10
EN: I hope that you find it interesting.
00:13 - 00:17
EN: This video is an example of 10 consecutive scalps
00:17 - 00:21
EN: that I made today on a 15-second Emini chart.
00:21 - 00:24
EN: Each bar is 15 seconds.
Slide 001
Time: 00:26
Bilingual Transcript
00:27 - 00:29
EN: Why did I choose to make this video?
00:29 - 00:31
EN: Well, I have two main reasons.
00:31 - 00:35
EN: First, charts are a record of rational human behavior,
00:35 - 00:37
EN: and that behavior is the same on all timeframes,
00:37 - 00:40
EN: and therefore the concepts in my Brooks Trading Course
00:40 - 00:43
EN: work on all timeframes and in all markets.
00:44 - 00:47
EN: And second of all, I want to show that a good scalper
00:47 - 00:51
EN: can win a high percentage of the time, 80% or 90% of the trades.
00:53 - 00:58
EN: After the open today, I decided to record 10 scalps on the 15-second chart.
00:59 - 01:03
EN: I’m trading my real accounts on one computer,
01:03 - 01:06
EN: and I’m recording this on a second computer,
01:06 - 01:11
EN: using a simulated account in which I’m only trading a single contract.
01:11 - 01:13
EN: This is a first take.
01:13 - 01:17
EN: This is my first attempt at recording a 15-second chart and scalping.
01:18 - 01:21
EN: Coming into the day, I thought, “Well, maybe I’ll try to just see
01:21 - 01:26
EN: if I can scalp 10 times today and see how well I’ll do.”
01:26 - 01:30
EN: To keep it simple, I’m scalping only for a single point.
01:30 - 01:33
EN: Obviously, many of the trades would have been good
01:33 - 01:35
EN: for much more than a single point.
01:35 - 01:38
EN: This chart shows the first four trades.
01:38 - 01:42
EN: Down in the lower left, there are actually two trades there.
01:42 - 01:44
EN: I bought and I bought more lower.
01:44 - 01:45
EN: I scaled in.
01:45 - 01:48
EN: And then there’s a third and a fourth trade later in the day.
01:48 - 01:52
EN: Remember, each bar is 15 seconds, so the bars happen quickly,
01:52 - 01:56
EN: and some of the trades, as soon as I placed an order,
01:56 - 01:57
EN: within seconds I got filled.
01:57 - 02:00
EN: The longest trade was maybe a few minutes.
02:03 - 02:04
EN: This is a video.
02:04 - 02:06
EN: This is the setup that I was using.
02:06 - 02:08
EN: This is TradeStation.
02:08 - 02:12
EN: In this brief video, I’m going to show Trades 1 and 2.
02:13 - 02:18
EN: It’s actually one trade, and I scaled in 1 point lower, so there are two entries.
02:18 - 02:19
EN: So you can call it two trades.
02:20 - 02:23
EN: We have a very strong reversal up after a Wedge Top.
02:24 - 02:29
EN: When the market is that strongly up, it’s going to go higher,
02:29 - 02:31
EN: and if it goes down, the first reversal down will fail.
02:31 - 02:34
EN: So I just went ahead and bought at the market,
02:34 - 02:40
EN: and then I’ll buy more 1 point lower using a limit order.
02:41 - 02:44
EN: Remember, the purpose of this video is not to teach how to trade.
02:44 - 02:50
EN: I just want to show that a person who scalps using standard techniques,
02:50 - 02:53
EN: the ones that I have in my course, can do pretty well.
02:56 - 02:59
EN: I placed a limit order to buy more 1 point lower.
03:02 - 03:08
EN: A reversal like this is either going to lead to a bull trend or a Trading Range,
03:08 - 03:10
EN: and if it’s a Trading Range, I can buy more lower,
03:10 - 03:13
EN: and it will come back to the top of the range at my original price.
03:13 - 03:19
EN: So, I quickly now am going to adjust my profit-taking limit orders.
03:19 - 03:23
EN: I’m trying to get out breakeven on the first trade and with a 1-point profit.
03:23 - 03:25
EN: There, I just got filled.
03:31 - 03:33
EN: This shows the two entries.
03:34 - 03:38
EN: I bought and then I bought more lower, 1 point lower,
03:38 - 03:41
EN: and then I get out breakeven on the first trade
03:41 - 03:44
EN: and with a 1-point profit on the second trade.
03:48 - 03:49
EN: Trade number three.
03:50 - 03:53
EN: The market is rallying strongly, but we’re starting to get some bear bars,
03:53 - 03:56
EN: so I might be able to scalp 1 point.
03:56 - 03:58
EN: I just placed a limit order selling at the top,
03:58 - 04:02
EN: and I already got filled within seconds of placing my order.
04:04 - 04:07
EN: That shows that third trade up there in the upper right.
04:12 - 04:15
EN: This little video clip is a fourth trade.
04:15 - 04:19
EN: The rally has had three pushes up and we’re starting to get some pullbacks,
04:19 - 04:23
EN: and therefore I can make money buying a pullback or selling a rally.
04:23 - 04:26
EN: In this particular case, I’m going to sell a rally.
04:28 - 04:30
EN: Bear bar closing on its low.
04:32 - 04:35
EN: I’ll place a limit order to sell right around the low of that bar.
04:35 - 04:37
EN: I just got filled.
04:38 - 04:40
EN: It would be nice if it went straight down,
04:40 - 04:43
EN: but it’s following 3 or 4 decent bull bars,
04:43 - 04:46
EN: so it may have to go sideways before it’ll go down.
04:47 - 04:50
EN: If it goes above the top of that bear bar, I’ll sell more,
04:51 - 04:53
EN: betting that we’re starting to get pullbacks
04:53 - 04:56
EN: and therefore we may enter a small Trading Range.
05:03 - 05:06
EN: Each bar is 15 seconds, so they go by quickly.
05:10 - 05:14
EN: You don’t have much time to make up your mind to do things.
05:14 - 05:16
EN: Entering with stops is hard
05:16 - 05:20
EN: because sometimes the bar grows a tick or two in the final second.
05:20 - 05:25
EN: So most of my orders are either at the market or with limit orders.
05:28 - 05:32
EN: Trading on a 5-minute chart, most traders are better off entering with stops.
05:33 - 05:37
EN: But if you’re trading on a chart that is as quick as this,
05:37 - 05:40
EN: it’s very difficult to enter with stops.
05:57 - 06:00
EN: We have a bear bar here, so we might be forming a Lower High.
06:00 - 06:03
EN: On this chart, it would be a Lower High Major Trend Reversal.
06:03 - 06:07
EN: But a Major Trend Reversal on the 15-second chart
06:07 - 06:12
EN: is a bar or two of a pullback on a 5-minute chart.
06:14 - 06:17
EN: Three little legs up after that bear bar,
06:17 - 06:20
EN: so it’s a small Wedge rally to a Lower High Double Top.
06:20 - 06:24
EN: A bear bar closing on its low, so we should go down here
06:24 - 06:26
EN: and I should be able to make my scalp.
06:28 - 06:31
EN: I have a limit order to get out 1 point below my entry.
06:31 - 06:34
EN: You can see it on the left, on the price ladder.
06:35 - 06:37
EN: I have a stop 3 points above.
06:41 - 06:44
EN: If the market starts to go up, I will sell more,
06:44 - 06:47
EN: and I might raise or lower that stop depending on what the market does.
06:52 - 06:53
EN: Turning down.
06:53 - 06:54
EN: I should get filled.
06:57 - 07:00
EN: You can see on the left, on the price ladder,
07:00 - 07:04
EN: my limit order to buy back my short with a 1-point profit.
07:05 - 07:07
EN: And I just got filled.
Slide 002
Time: 07:10
Bilingual Transcript
07:13 - 07:16
EN: I actually have a third reason to make this video,
07:16 - 07:18
EN: and that’s that there’s a lot of interest in scalping.
07:19 - 07:24
EN: Many traders are interested in scalping because the risk portrayed is small.
07:24 - 07:27
EN: But scalping only has a small risk if you trade well,
07:27 - 07:29
EN: because if you have a lot of small losses,
07:29 - 07:31
EN: all of a sudden you end up with a big loss.
07:33 - 07:37
EN: It’s really important to remember that small reward relative
07:37 - 07:42
EN: to risk means bad risk/reward, and that’s only half of what you have to consider.
07:42 - 07:44
EN: You also have to consider probability.
07:44 - 07:47
EN: You can make money if you have bad risk/reward
07:47 - 07:52
EN: if you have a high enough winning percentage, and that’s the key to scalping.
07:52 - 07:56
EN: You have to be able to make a lot of good decisions, and you cannot make mistakes.
07:56 - 07:58
EN: And that’s the problem for most traders.
07:58 - 08:02
EN: They cannot make enough good decisions fast enough,
08:02 - 08:06
EN: and just a few mistakes is the difference between making money and losing money.
08:07 - 08:09
EN: Here are Trades 5 and 6.
08:09 - 08:11
EN: I’ll show videos of that.
08:14 - 08:16
EN: I’m going to buy with a limit order.
08:16 - 08:18
EN: Remember, when the market’s in a bull trend,
08:18 - 08:21
EN: you can buy with a limit order, you can buy at the market.
08:21 - 08:24
EN: If it looks like it’s starting to transition into a Trading Range,
08:24 - 08:27
EN: you can also sell, but it’s better to be selling high.
08:30 - 08:32
EN: This is probably a bull flag.
08:38 - 08:40
EN: This does not look like a very strong reversal,
08:41 - 08:46
EN: and therefore we’re probably going to try to get up to that Measured Move target.
08:51 - 08:53
EN: We have a Double Top.
08:53 - 08:56
EN: We broke below it, tested below the Double Top,
08:56 - 08:57
EN: and that created a Measured Move up.
08:57 - 09:01
EN: So we should get there, and it looks like we’re going sideways instead of down,
09:01 - 09:04
EN: so it’s reasonable to buy, betting that we’ll get up there.
09:05 - 09:07
EN: My profit-taking limit order
09:07 - 09:10
EN: is well below the Measured Move target, and I just got filled.
09:11 - 09:15
EN: You can see now I have $188 profit.
09:17 - 09:18
EN: Trade number six.
09:18 - 09:20
EN: I’m going to sell with a limit order.
09:20 - 09:22
EN: We’re starting to get pullbacks on the way up here.
09:26 - 09:29
EN: If you’re selling in a reasonably strong bull trend,
09:29 - 09:31
EN: first of all, it’s difficult to do it well.
09:31 - 09:33
EN: You have to be able to read the market well,
09:33 - 09:36
EN: and second, you have to sell really high.
09:36 - 09:38
EN: You want to be selling when the market is very strong,
09:38 - 09:41
EN: and preferably once you start to see a bear bar.
09:41 - 09:46
EN: So I just placed a limit order to get short, and I just got filled.
09:46 - 09:48
EN: It has not even gone below the low of that bar,
09:48 - 09:51
EN: and I’m already short just because it was a bear body.
09:54 - 09:57
EN: We’ve had a couple pullbacks in the past 20 bars or so.
09:57 - 09:59
EN: Therefore, pretty good bear bar.
09:59 - 10:02
EN: We should get filled, and I just did.
10:02 - 10:04
EN: So that was another 1-point scalp.
10:04 - 10:05
EN: Very quick.
10:05 - 10:08
EN: Happened in less than a minute, and there it is right there.
10:08 - 10:12
EN: I sold and got filled with a 1-point scalp.
Slide 003
Time: 10:15
Bilingual Transcript
10:17 - 10:22
EN: Remember, I’m trying to keep things simple and I’m scalping for 1 point,
10:22 - 10:24
EN: but good scalpers would have held
10:24 - 10:27
EN: several of these trades for much more than 1 point.
10:28 - 10:32
EN: And as I said, I’m entering most of the time with limit orders or market orders.
10:32 - 10:35
EN: In fact, I think pretty much all day I did that.
10:36 - 10:37
EN: I have two trades on this slide.
10:37 - 10:40
EN: There’s one on the left; that was trade number seven,
10:40 - 10:42
EN: and then on the right, trade number eight.
10:42 - 10:47
EN: Trade number seven, it was such a good trade that I decided to take it
10:47 - 10:53
EN: in my real accounts, and it was a distraction to have it here,
10:53 - 10:57
EN: so I ended up just getting out breakeven here on the simulated account.
10:59 - 11:05
EN: We have a Wedge selloff and a pretty good reversal up with a Higher Low,
11:05 - 11:07
EN: so we’re probably going to get a second leg up,
11:07 - 11:11
EN: and therefore it’s reasonable to buy, especially after the 2 bull bars.
11:11 - 11:17
EN: But as I said, I was concerned that we were getting a reasonable buy setup
11:17 - 11:21
EN: on the 2-minute chart, the 5-minute chart on the right,
11:23 - 11:26
EN: and I started focusing on my real accounts,
11:26 - 11:31
EN: and this trade was a distraction on the simulated account.
11:31 - 11:36
EN: So I quickly decided to get out breakeven on this trade.
11:36 - 11:38
EN: Because there’s a commission,
11:38 - 11:43
EN: even though I did not lose any ticks, there’s a loss.
11:46 - 11:49
EN: TradeStation counts it as a losing trade.
11:51 - 11:53
EN: Here are the trades so far today.
11:53 - 11:56
EN: The lines highlighted with blue are my entries and exits.
11:56 - 11:58
EN: I bought and I sold.
11:58 - 12:01
EN: The top two lines are the most recent.
12:05 - 12:07
EN: Trade number eight.
12:07 - 12:10
EN: It looks like we’re breaking out of a bull flag
12:10 - 12:12
EN: and we’re going to try to resume the bull trend.
12:12 - 12:15
EN: I’m going to enter with a limit order.
12:19 - 12:21
EN: I could just buy at the market.
12:21 - 12:23
EN: Chances are we’re going to test the high.
12:24 - 12:27
EN: But in general, I like to buy with limit orders.
12:27 - 12:29
EN: I like to buy a little bit of a pullback if I can get it.
12:33 - 12:35
EN: I have a stop 3 points down.
12:35 - 12:40
EN: It’s below the bars on the left of the screen, so you do not see the stop order.
12:41 - 12:44
EN: I just flipped over to a 1-minute chart because the tails were
12:44 - 12:47
EN: so prominent on the 15-second chart.
12:47 - 12:52
EN: I usually like to look at charts that don’t have prominent tails.
12:52 - 12:54
EN: So here’s back to the 15-second chart.
12:54 - 12:59
EN: You can see I’m long, and you can see that red L1 at the top.
12:59 - 13:01
EN: That’s my profit-taking limit order.
13:04 - 13:08
EN: TradeStation simulated accounts have algorithms,
13:08 - 13:11
EN: and they decide whether you’d get filled at your limit order.
13:11 - 13:13
EN: So sometimes the market will hit my limit order
13:13 - 13:17
EN: and I’ll get filled in the simulated trading.
13:18 - 13:23
EN: And most of the time, TradeStation is correct that if it hits the price
13:23 - 13:25
EN: and I get filled in TradeStation,
13:25 - 13:29
EN: I would be getting filled in my actual accounts as well.
Slide 004
Time: 13:32
Bilingual Transcript
13:34 - 13:38
EN: Now, the 15-second chart, that means 4 bars per minute,
13:38 - 13:43
EN: 240 bars an hour, times 6 hours and 45 minutes.
13:43 - 13:47
EN: So there are over 1,000 bars a day.
13:47 - 13:50
EN: If you watch the 15-second chart all day long,
13:50 - 13:54
EN: there probably are at least 100 reasonable setups.
13:54 - 13:56
EN: Now, very few people can trade like this,
13:56 - 13:59
EN: especially for more than an hour or two at a time,
13:59 - 14:03
EN: and most people would not enjoy doing it day after day, year after year.
14:03 - 14:08
EN: Your career is long, and a person must make money and be happy.
14:08 - 14:13
EN: For most traders, swing trading on a 5-minute chart is a better choice.
14:15 - 14:18
EN: This is trade number nine.
14:18 - 14:20
EN: Now, is this going to be a bear trend reversal?
14:20 - 14:24
EN: Have we begun a bear trend, or is this a pullback in a bull trend?
14:24 - 14:27
EN: We’re getting a lot of bull bars on the way down,
14:27 - 14:30
EN: so it might be simply a bull flag, a pullback in a bull trend.
14:31 - 14:34
EN: Sideways here for about 6 or 7 bars.
14:34 - 14:36
EN: Not falling quickly.
14:37 - 14:42
EN: We got three little legs down in the past 10 bars here, so it’s a small Wedge.
14:45 - 14:51
EN: Many bears will take profits when they see a Wedge selloff, and bulls will buy.
14:51 - 14:53
EN: So I’ll go ahead and I’ll buy.
14:55 - 15:00
EN: It might go down a little bit more, and if it does, I’ll buy more lower.
15:00 - 15:03
EN: But right now I’m long, and my stop is 3 points below,
15:03 - 15:07
EN: and it’s just below the bottom of the price ladder on the left.
15:07 - 15:09
EN: So far it’s not looking very good.
15:11 - 15:14
EN: I may have to buy more lower.
15:15 - 15:18
EN: The bulls need to get bull bars.
15:22 - 15:26
EN: If you look at the lower right chart, the 5-minute chart,
15:26 - 15:29
EN: it’s a very strong bull trend, and a bull bar at the top.
15:29 - 15:31
EN: That’s a bad sell signal bar.
15:31 - 15:34
EN: The odds are we’re going to go up.
15:34 - 15:38
EN: There’ll be buyers below that sell signal bar on the 5-minute chart.
15:43 - 15:44
EN: Still channeling down.
15:44 - 15:46
EN: Small Pullback Bear Trend.
15:46 - 15:50
EN: But unlikely to go down a lot further.
15:50 - 15:53
EN: If it does go down, I’ll buy more lower.
15:58 - 16:00
EN: Another bull bar, this one closing on its high.
16:00 - 16:01
EN: That’s good for the bulls.
16:01 - 16:06
EN: That’s a sign of aggressive buying right into the close of the bar.
16:06 - 16:08
EN: That’s true on any timeframe.
16:10 - 16:13
EN: Broke above the bull bar, broke above the Moving Average.
16:13 - 16:17
EN: The bulls need to get a bull bar closing above the Moving Average.
16:17 - 16:22
EN: That’s a 10-bar Exponential Moving Average, which is what I use when I scalp.
16:24 - 16:29
EN: For the bears, it’s another Low 1 sell signal, but at the bottom of a channel.
16:30 - 16:34
EN: On the higher timeframes, this is probably a minor reversal.
16:34 - 16:37
EN: Also, we’re spending a lot of time going sideways.
16:37 - 16:38
EN: A lot of sideways bars.
16:40 - 16:42
EN: That is not very bearish.
16:43 - 16:45
EN: Bulls, a little Double Bottom here.
16:46 - 16:51
EN: They need to break above the neckline, which is the high from 3 bars ago.
16:55 - 16:56
EN: Okay, there we go.
16:57 - 17:01
EN: Can the bulls get the bar to close on its high and above the Moving Average?
17:01 - 17:04
EN: Can they break above that neckline?
17:04 - 17:06
EN: They just did, so this is looking good.
17:07 - 17:10
EN: Here we’ve got 2 bull bars, 3 bull bars.
17:10 - 17:12
EN: Is the bull trend resuming?
17:13 - 17:15
EN: Here’s a 2-minute chart.
17:15 - 17:19
EN: Not a good buy after 3 bear bars, but after a whole bunch of bull bars,
17:19 - 17:23
EN: this is probably only a minor reversal down.
17:28 - 17:30
EN: Back to the 15-second chart.
17:30 - 17:35
EN: The bears are hoping that red bar is a reversal back down,
17:35 - 17:36
EN: a resumption of the bear trend.
17:36 - 17:41
EN: The bulls are hoping that bar is a pullback from the big bull bar.
17:41 - 17:44
EN: Here, another bull bar, so that’s good.
17:44 - 17:46
EN: So it looks like we’re trying to go up.
17:47 - 17:50
EN: Okay, I just got filled on my scalp.
17:53 - 17:55
EN: Here’s the final trade.
17:55 - 17:59
EN: The bears got a big breakout, but instead of going down, we’re going sideways,
17:59 - 18:04
EN: so this could be a Double Bottom and then a resumption of the bull trend.
18:07 - 18:11
EN: We have a small Double Bottom about 10 bars ago,
18:11 - 18:13
EN: and this is a pullback testing that Double Bottom.
18:15 - 18:17
EN: It’s common to have a Double Bottom
18:17 - 18:22
EN: and then a pullback that forms a slightly Higher Low – a Double Bottom pullback.
18:22 - 18:24
EN: Right now, it’s basically a Triangle.
18:24 - 18:26
EN: We’re BreakOut Mode.
18:26 - 18:27
EN: What’s more likely?
18:27 - 18:32
EN: Are we going to continue down, or are we reversing up?
18:35 - 18:37
EN: I’m willing to scale in lower.
18:37 - 18:40
EN: I have not yet bought, but I am looking to buy.
18:40 - 18:42
EN: Here we got a bull bar, another bull bar,
18:42 - 18:44
EN: so it’s looking pretty good for the bulls.
18:46 - 18:48
EN: I just quickly click the limit order and get filled.
18:48 - 18:50
EN: Here’s a 5-minute chart.
18:50 - 18:54
EN: We have an ii, consecutive inside bars on the 2-minute chart,
18:54 - 18:57
EN: and it’s a High 2 with the bar from 4 bars ago.
18:57 - 19:02
EN: So this looks pretty good for the bulls on the 2-minute chart and the 5-minute chart.
19:02 - 19:07
EN: It looks like I should be able to make a 1-point scalp on the 15-second chart.
19:12 - 19:17
EN: The bears want the breakout above the ii, the consecutive inside bars,
19:17 - 19:21
EN: they want the breakout to fail, and they’re hoping it becomes a bear flag.
19:21 - 19:25
EN: But we have that pretty good reversal up 4 bars ago at the Moving Average.
19:27 - 19:31
EN: It’s about a 50% retracement of that series of bull bars, that strong rally.
19:32 - 19:35
EN: So I think the probability is we’ll go up,
19:35 - 19:37
EN: at least enough to make a 1 point scalp.
19:37 - 19:40
EN: We’re down a couple ticks.
19:40 - 19:42
EN: You can see on the price ladder on the left.
19:43 - 19:45
EN: Down now 3 ticks.
19:45 - 19:48
EN: The yellow is where the market currently is.
19:48 - 19:53
EN: The blue is my entry, and then you can see my limit order, the gray box on top.
19:53 - 19:55
EN: You can see my stop order below.
19:55 - 20:00
EN: $150 down, which is 3 points below.
20:00 - 20:04
EN: Just in case it goes lower, I’m going to lower my stop.
20:06 - 20:08
EN: I want to give room.
20:08 - 20:10
EN: I may have to add on here.
20:12 - 20:13
EN: This is a 2-minute chart.
20:14 - 20:17
EN: The bears want to get a bear bar closing on its low.
20:17 - 20:20
EN: The bulls want anything other than a bear bar.
20:21 - 20:24
EN: Okay, the bears got a bear bar.
20:25 - 20:31
EN: It also shows some of the earlier trades right here on the 2-minute chart.
20:31 - 20:35
EN: Now, those 2 little bull inside bars,
20:35 - 20:39
EN: theoretically the stop is 1 tick below the lower of the 2 bars.
20:39 - 20:44
EN: Theoretically it’s still on the buy above the ii, and for the bears,
20:44 - 20:47
EN: it’s a Low 1 sell below that bear bar.
20:47 - 20:48
EN: But I would not take it.
20:48 - 20:49
EN: We’re at the Moving Average.
20:49 - 20:54
EN: The bear close is just above the Moving Average, and we’re on an ii buy.
20:55 - 20:59
EN: So it’s still more likely that we’re going to try to go up.
20:59 - 21:02
EN: It doesn’t have to go up to the high; I’m just trying to make 1 point.
21:06 - 21:09
EN: Getting an Outside Up bar, traded below the bear bar
21:09 - 21:13
EN: and now trading up to the high of the bear bar and above the high of the bear bar.
21:13 - 21:16
EN: So Outside Up, that’s good for the bulls.
21:16 - 21:21
EN: The odds are pretty good that I’ll make my 1-point scalp.
21:24 - 21:28
EN: The more bullish this bar closes, the more likely the market’s going to go up.
21:28 - 21:31
EN: So I’d like the bar to close on or near its high,
21:31 - 21:36
EN: and it would be better if it closed at the high of the bear bar or above that.
21:36 - 21:41
EN: If it does, then we’ll probably go up to the high of the bull trend,
21:41 - 21:44
EN: up there around 42.16.
21:44 - 21:46
EN: But I’m going to be getting out before that.
21:46 - 21:48
EN: I’m just trying to scalp for 1 point.
21:49 - 21:50
EN: Sideways.
21:50 - 21:52
EN: The market’s still deciding.
21:53 - 21:55
EN: Is the bear trend going to continue down?
21:55 - 21:58
EN: Ah, on the 5-minute chart there’s also an ii,
21:58 - 22:01
EN: consecutive inside bars, both with bull bodies.
22:01 - 22:02
EN: BreakOut Mode.
22:02 - 22:04
EN: That’s another buy signal.
22:04 - 22:07
EN: We have the 2-minute ii; we broke above it,
22:07 - 22:10
EN: and now we’re triggering the 5-minute ii,
22:10 - 22:13
EN: so that further increases the probability that we’ll go up.
22:13 - 22:17
EN: Here, on the 15-second chart, we have 3 consecutive bull bars
22:17 - 22:20
EN: and then a little pullback, a small High 2 at the Moving Average,
22:21 - 22:24
EN: which is a buy signal, 2 bars ago.
22:24 - 22:26
EN: So it looks good for the bulls.
22:27 - 22:29
EN: And breakout, just got filled.
22:31 - 22:35
EN: The top two blue lines are the most recent trade,
22:35 - 22:40
EN: and right now I’m at $376 after the 10 trades.
22:40 - 22:43
EN: $50 per trade, and then you subtract out commissions.
22:44 - 22:47
EN: You can see this is the most recent trade.
Slide 005
Time: 22:50
Bilingual Transcript
22:51 - 22:54
EN: Here’s an equity curve of the 10 trades.
22:54 - 22:57
EN: The first trade, I got out breakeven,
22:57 - 23:00
EN: and then the second trade was part of the first trade.
23:00 - 23:04
EN: Remember, the first trade I bought, and I bought more 1 point lower.
23:04 - 23:08
EN: So trade number two, I’m up only 1 point, $50.
23:09 - 23:12
EN: And then trade number seven was also breakeven.
23:12 - 23:17
EN: Remember, I exited that early even though it ended up being a profitable trade
23:17 - 23:20
EN: because I was concentrating on my real accounts.
23:20 - 23:24
EN: And at the end of 10 trades, there’s a net profit of $376.
23:28 - 23:30
EN: Here’s a performance summary.
23:30 - 23:35
EN: You can see the green at the top, net profit after commissions, $376.
Slide 006
Time: 23:30
Bilingual Transcript
23:36 - 23:39
EN: TradeStation calls the two breakeven trades losers,
23:39 - 23:42
EN: even though they did not lose any points.
23:42 - 23:45
EN: They’re losers because I had to pay a commission,
23:45 - 23:49
EN: so you can see I lost $2.40 on the trades.
23:52 - 23:54
EN: Here’s the list of all the trades.
23:55 - 24:00
EN: Eight trades where I made 1 point and two trades where I got out breakeven,
Slide 007
Time: 23:55
Bilingual Transcript
24:00 - 24:03
EN: so an 80% winning percentage.
24:06 - 24:10
EN: I’m Al Brooks, and I want to thank you for watching this video.
24:10 - 24:13
EN: I hope that you found it interesting and useful.