Brooks Trading Course

So how does that work for the Emini when it says $14 for closing below and $6 reward ?
If it stays below you get $6 minus 0.14 for fees ?

I am guessing the further away it goes from 4100 and the later in the day the less reward ?
 
status1 said:
So how does that work for the Emini when it says $14 for closing below and $6 reward ?
If it stays below you get $6 minus 0.14 for fees ?

I am guessing the further away it goes from 4100 and the later in the day the less reward ?
Click to expand...
The payout you receive is always $20.
The only difference how much you pay for the contract.
For example right now ES is 4075 and the proposed contracts are:
1675270387264.png
I can pay $12.75 If I think ES will close below 4100, and if I am right, I will receive $20
Or I can pay $7.50 If I think ES will close above 4100.
If I am wrong I will lose what I paid.
 
Thanks for clarifying
Kind of what I was thinking in a roundabout way
So you are risking $12.75 to make $20
 
Another day where the strategy did not work out but I suspected it would not work with the fed announcement
After the opening high of 4076.71 it broke the low making 4076.71 the high of the day but after the fed speech it shot up taking out the high of the day
 
status1 said:
Another day where the strategy did not work out but I suspected it would not work with the fed announcement
After the opening high of 4076.71 it broke the low making 4076.71 the high of the day but after the fed speech it shot up taking out the high of the day
Click to expand...
Yes, today was total freak show. I did not do any trades.
 
Today was another day without any direction
It broke the low and the high of the day
I am getting better results with just a simple straddle I place it right at the open and the only thing I have to decide is where do I want to take profit
The only time it does not work it's when it does not move much but SPX move quite a lot these days
 
For 2023, 38 trading days as of Feb 27. Seven days (7) DID NOT have a High or Low established during the opening range. That is about 81.5%, lower than the "90%", but enough that it is still reliable for me.
 
There is also the case where the high or low is established near the end of the day and cases where both the high and the low are taken out
I just don't feel comfortable trading in something that is not more predictable where at any moment the market can turn around and go against you so you have to watch the screen all the time or you just go with the percentage and place equal qty trades and hopefully over the long run it will work out and have more winners than losers
 
Just to let everyone know. If you open a trading account with TD365.COM and deposit $250 and do 5 trades, you get access to Al Brooks Beginners and Advanced Course.
 
I found some videos by Oliver Velez Trading on YouTube He seems to have a clear and understandable explanation of price action and it does not have to be limited to the opening price levels

The only problem I see is that he is using the equity to trade directly on the price action which can cost a lot depending on how many shares you are doing
I am trying to do it with options but it's not exactly the same as the equity does not correlate to the option directly but I could use the option symbol on TOS for the price action but I have to be careful to place the trade in the right direction so when the market is going down normally you would sell shares but with options you have to buy the put
when it's going up it's normal and you buy the call

I did a few paper trades on 0 dte trades and seems to work and could have a lot of gain on volatile days
 
Did you find something wrong with oliver velez ?
I have not seen him mention any binary options unless you are referring to something else
 
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