Hosted by Al Brooks, MD Professional Trader, Author, Lecturer, and Daily Trading Room Presenter
Price action is any representation of price movement of any financial instrument, on any type of chart and on any timeframe.
Every trader needs to use stops. For most traders, stops based on price action are the best choice. But there others as well and many factors to consider when choosing a stop.
Al will talk about some of the most important things that traders need to know about stop placement and management.Price action is any representation of price movement of any financial instrument, on any type of chart and on any timeframe.
Trading Price Action: 5 Thoughts on Protective Stops
- Stops protect you from yourself
- Many types of stops, but price action stops best
- Never use mental stops
- Being reasonable is key to success
- Wide stops can be good, but they increase risk
- Q&A Session
When: Tuesday March 10, 2020.
Al Brooks, MD, Professional Trader, Author, Lecturer, and Daily Trading Room Presenter
Al has been a professional trader since leaving his career as an ophthalmologist more than 30 years ago. Al received his MD degree from the University of Chicago.
Futures magazine coined Al the “the trader’s trader,” and Al was one of their technical analysis contributors for many years. Al appreciates his devoted following, and provides live market commentary and daily chart analysis updates at both BrooksTradingCourse.com and BrooksPriceAction.com.
Al works incredibly hard to do the best that he can do and with an intense focus. Helping people is really important to Al. When Al teaches others how to trade, he has this same attitude.
Al knows how difficult trading is, and never loses sight of the struggle that all traders endure. With that in mind, everything that Al says, or writes is to help traders achieve their goal of making money trading. The markets were created by institutions for their benefit, but we can participate.
This is not a game. It is our lives, and we all want to have better lives and to help our families. Trading is a very serious business and Al takes it very seriously. However, Al firmly believes that if a trader takes the time to learn how to trade price action, and if he is able to apply what he has learned, he will be in a position to achieve his goal.