Question 1: I did not sell once between 48 and 58 since I constantly was thinking near support, trading range bottom on the left. Any advice on this?\n Video duration: 7min 33sec<\/em><\/p>\n<\/iframe><\/div>\n<p><\/p>\n<h3>Big up, big down<\/h3>\n<p><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Swing-Trades-Missed-1.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Swing-Trades-Missed-1-300x224.png\" alt=\"Ask Al Brooks Swing trades missed\" width=\"300\" height=\"224\" class=\"alignleft size-medium wp-image-62156\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Swing-Trades-Missed-1-300x224.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Swing-Trades-Missed-1-768x572.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Swing-Trades-Missed-1-600x447.png 600w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Swing-Trades-Missed-1.png 797w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>So he did not sell between 43 and 58. That doesn\u2019t bother me. You\u2019ve got a pretty good reversal. Down big, up big. I mentioned at the time, it was also a bear channel, lower high, lower high, and that we could be channeling down and that bears would be selling, especially below the second entry short 42.<\/p>\n<p>But I don\u2019t have a problem with not selling down here. You\u2019ve got a higher low. It\u2019s a bear channel, yes, so you can sell for a swing, stop above that and take a chance. But probably not going to go down all that far. It was a very tight bear channel, but you have to be able to use the correct stop. So if you sold anywhere through here, your stop is up here. And if you sell up here, maybe your stop is here; it\u2019s probably better up here. I think it\u2019s hard to structure a very strong <a href=\"https:\/\/www.brookstradingcourse.com\/how-to-trade-manual\/traders-equation\/\" target=\"_blank\">trader\u2019s equation<\/a>. The probability is not all that good. Risk is relatively big, reward is relatively small. So I would not worry about that. Selling 54, possible exhaustive sell climax. 55, same thing. Possible measuring gap. I think if you\u2019re quick to make decisions and manage trades, you could sell 54 close, 55 close. But I did not think it was going to fall all that much.<\/p>\n<h3>Logical not to sell<\/h3>\n<p>As far as advice on how to handle all this stuff, not selling this? I think it\u2019s perfectly logical not to sell that. It\u2019s not all that bearish. We\u2019re still above a higher low. Yes, it\u2019s a bear channel, but you\u2019re selling low in the channel. If you want, you can say, \u201cOkay, it\u2019s a 10 bar bear micro channel. Maybe I\u2019ll sell above a bar and put a stop above here or a stop above there,\u201d if it\u2019s really a small pullback bear trend. Pullbacks should only last one, two, or three bars, and they should not get above here. So theoretically you could trade small, put a stop up there, and take a chance that it becomes a small pullback bear trend.<\/p>\n<p>But I don\u2019t have any special advice about that. It\u2019s really tough to structure a strong trader\u2019s equation trade when the market looks like that. You\u2019re selling low in a day that\u2019s not all that bearish, or you\u2019re buying and you\u2019re in a very tight bear channel. That\u2019s not very good either. It\u2019s a scalper\u2019s market, and you\u2019ve got to be quick to make decisions. In general, I think traders will make more money if they stick to swings. I think that was a difficult swing to trade.<\/p>\n<p class=\"content-box-green\">Question 2: I only see measured moves after the gap is established. What is the best entry strategy based on that, or is it too late in the move?<\/p>\n<h3>Never too late to enter swing trade<\/h3>\n<p><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Measured-Moves-Spikes-2.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Measured-Moves-Spikes-2-300x229.png\" alt=\"Ask Al Brooks Measured moves spikes\" width=\"300\" height=\"229\" class=\"alignleft size-medium wp-image-62157\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Measured-Moves-Spikes-2-300x229.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Measured-Moves-Spikes-2-768x586.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Measured-Moves-Spikes-2-600x458.png 600w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Measured-Moves-Spikes-2.png 776w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>No, if you\u2019re in a swing trade, it\u2019s never too late to enter. Presumably, the first reversal will not get very far. If you see a measuring gap potential — 64 here, do you buy there? I don\u2019t know. I\u2019m not expecting a measured move up here; I\u2019m expecting the gap to fill. Today was really not a good measured move day. You can see the best measured move was \u2018open of the day\u2019, low of the day, moved a measured move up. And then \u2018high of the day\u2019, open of the day, it moved a measured move down.<\/p>\n<p>As far as measuring gaps on a trading range day, you have to assume every gap is going to close. We have a gap 8 above 2, it closed. Potential measuring gap 15, it closed. Potential measuring gap 34, it closed. Potential measuring gap here, it closed. Same here, it closed. You\u2019ve got to be really quick to make decisions. I think it\u2019s okay to buy the 53 close, I think it\u2019s okay to buy the 60 close, sell the 34 close, sell the 15 close, buy the 7 close. But you\u2019ve got to use wide stops and you\u2019ve got to be quick to make decisions.<\/p>\n<h3>Trading range days<\/h3>\n<p>In general, if I think a day is a trading range day \u2013 like today, from the first bar of the day I thought it was a trading range day; I said it probably a hundred times today \u2013 in general, if it\u2019s a trading range day, I\u2019m going to be entering mostly with limit orders and mostly scalping for 1 point, sometimes 2 points. When there is a breakout that looks reasonably strong, 34 for the bears, 53 for the bulls, if I can get 2 points out of it, I usually exit at 2 points and then wait to see if it becomes a strong trend. If it becomes a strong trend, then I\u2019ll swing part. But until it does become a strong trend, I\u2019m going to assume that every big breakout, up and down, is going to fail.<\/p>\n<p>But on a strong trend day, it\u2019s never too late to enter. So if you see this, you can say \u201cWe\u2019re already on a measured move; here\u2019s the breakout point\u201d \u2013 I don\u2019t care. This is so strong, we\u2019re probably going to go up for another measured move based upon the height of this breakout. So on strong trends, it\u2019s never too late to enter.<\/p>\n<p class=\"content-box-green\">Question 3: How do you trade around big spikes like 53, 60, and 68?<br \/>\n<\/p>\n<h3>Immediately get in on spikes<\/h3>\n<p><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Measured-Moves-Spikes-2.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Measured-Moves-Spikes-2-300x229.png\" alt=\"Ask Al Brooks Measured moves spikes\" width=\"300\" height=\"229\" class=\"alignleft size-medium wp-image-62157\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Measured-Moves-Spikes-2-300x229.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Measured-Moves-Spikes-2-768x586.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Measured-Moves-Spikes-2-600x458.png 600w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2016\/12\/Ask-Al-Brooks-Measured-Moves-Spikes-2.png 776w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>When you see a big move like that, you immediately get in with the trend \u2013 I usually do. I\u2019m usually anticipating, \u201cOh, 52. We may get a breakout on 53,\u201d so I\u2019m going to be prepared. Some of them, like 53, I think I bought and I may have gotten out breakeven. A lot of them I end up getting out breakeven. 60, I was okay. 68, I was very confident that we were going to get more down. Some of them are, I think, pretty high probability that there\u2019s going to be follow-through. 6, 7 probably more up. 34, probably at least a little bit more down. 45, probably more up. 53, probably more up. 60, probably more up. 68, probably more down. But not a lot more.<\/p>\n<p>I usually try to enter early. I often enter the market if I\u2019m really, really early. If I\u2019m 2 or 3 minutes into it, a lot of times I\u2019ll enter with a limit order. I\u2019ll put up a 1-minute chart, and if it\u2019s a bull breakout, buy with a limit order below the low of the prior bar. If it\u2019s a bear breakout, sell with a limit order at the high of the prior bar. But I do try to get in early.<\/p>\n<h3>Limit orders<\/h3>\n<p>On a lot of those trades, I\u2019ve already gotten in and gotten out. Some of these I buy with limit orders here, and I\u2019m getting out on the rally, or I\u2019ll buy with limit orders when it\u2019s starting to slow down here, and I\u2019m getting out on the breakout. A lot of times I\u2019m doing the opposite. I\u2019m selling bull breakouts and buying bear breakouts, if I enter early enough with limit orders. That kind of trading, I think, it takes years. You have to do thousands of trades to get to the point when you can start reversing and scalping, quickly in, quickly out, and pocketing as many little 1 points as you can during the day.<\/p>\n<p>It\u2019s better if you can use a wide stop, 4 or 5 points and scale in, and then quickly make decisions. There were several times today when I entered \u2013 let\u2019s say I bought, and I bought more 1 point lower or 2 points lower, and I decided it\u2019s just not all that good, and I placed a limit order to get out at the average price of my trade, maybe with a 1 tick profit. So I did that two or three times today when I entered, scaled in, and I thought the reversal was just too strong, and I just tried to get out breakeven on the trade. On most of those, I entered again a bar or two later, in the same direction or in the opposite direction. I just keep going all day long.<\/p>\n<p><em>Al Brooks<\/em><\/p>\n<p><a title=\"Al Brooks' trading room\" href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\">Information on Al’s Online day trading room<\/a><\/p>\n<hr \/>\n","protected":false},"excerpt":{"rendered":"<p>Missing swing trades BPA trading room Q&A: April 5, 2016 Question 1: I did not sell once between 48 and 58 since I constantly was thinking near support, trading range bottom on the left. Any advice on this? Video duration: 7min 33sec Big up, big down So he did not sell between 43 and 58. 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