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I'm a beginner - I started learning a few months ago, and I'm hoping to get more insight into profitable trading with order flow. Excited to join this community!
Nice to join the community.
I am a futures trader for 6 years, FT for 1 year. Average performance is 4% per month.
My preferred products: ES, ZN, ZB, ST, GE, GC, CL
I gave trading a try a few years back, but gave up after frustrating myself with a small account size and tight stops. I'm giving it another go, hopefully with lessons well learned. I'm currently reviewing Al Brooks material, which I studied a few years ago as well.
I hope you have better luck reading Brooks than I did. There is great information in there but writing is definitely not his forte and I found it a grind to get through the book. I am currently reading The Art and Science of Technical Analysis by Adam Grimes. It, too, has a bunch of useful information and the bonus is that it is a much easier read. Nevertheless, Brooks as well as Livermore, Nison, Mark Douglas and a few others are pretty much required reading for the trader.
I am also on my second or third go-around but this is the first time I have applied the time and effort actually necessary to make progress. Best of luck to you!
I've tried reading his book on Reversals, and yes, it's rough. I sometimes refer to it when I want more clarity on one of his topics. I purchased Brooks' video course when it first came out, and I'm not going through the updated version, which is much more well done. I'll check out some of the other authors you mentioned. Thanks!
I have many years experience trading equity derivatives for banks, and now use Sierra Chart to access the markets for myself. Goal is to use the spreadsheet function to automate my strategy.
Especially when there are no draw down months. If 4% is on average (= 48% p.a.), with drawdowns discounted, the highest winning month must be far beyond 4%.
I do not know any earnest trader, who does not experience drawdowns.
I don't explain my charts. If you like to follow my trades, look for these lines.