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Getting back to Brooks, here is one of his webinars that he did with Big Mike: In it you can hear him say things like “95% of the time you can make money in the market by being long or short, you just have to manage it correctly”. And this is in essence the core of his approach. He gives you...

That’s not the issue here. First of all our friend has admitted that while he may have some form of income that keeps him afloat (e.g. a pension) he lacks risk capital. Hence he goes to the TopStep trader scam as do many a desperate fellow (been there myself). But the bigger issue is the...

If you read what Padu was saying, that is not the problem he has. The problem he has is he’s in this for the wrong reasons. That’s a much bigger problem.

Actually you can. If you open up multiple stores. I have, when the bolt is seized and you make the right cut with a dremmel. Sure you can. How do you think Ferraris make it around the world? Just have to hire a shipping company. You are the master of your time, whatever of it you still...

Well, outside of being a foil for people's jokes on a trading forum, I think you'd find it best to take a long break and ask yourself why you're doing this to yourself. I mean, I'd be happier working my garden or doing some otherobby that's good for my psyche and health, or perhaps engaging in...

So you have a very well defined trading plan that is the result of doing a lot of chart study, you can define your conditions for entry and trade management, but you just can't follow that plan, is that correct?

Padu, I just looked into my archives of messages at Brooks' forum from years ago. There was one guy who was doing pretty well for himself and I asked him what steps he took to become proficient. Here is what he said: " I printed out two years worth of charts and spent many hours looking for...

Continuing on my critique of Brooks, since we have a very dead stock indeces out there... There are two problems when trying to find a methodology. You have one set of vendors saying they have some 'special method' which will give you those magical 2 points a day (I remember this guy John Paul...

There's a reason why I got involved in this thread (outside of the fact that we have another dead market today so far). Padu's example has some interesting lessons to learn from: why people trade. If you are trading because it's a business, you work like any entrepreneur: you actively seek...

Padu... you just make no sense. I think it was either Van Tharp or Mark Douglas who mentioned a client who used to trade some crazy market just to get away from his marital problems. Needless to say he ended up being a losing trader. If you're coming to the market to escape from something...

After doing this for 20 years it’s pretty clear 1) he has ample time, 2) he probably doesn’t need money to live (e.g. retired on a pension) 3) he wants/needs an emotional experience. And the latter is what he’s going to get here, and why he comes. Anyone who is interested in making money for...

Padu, seriously man. You’re one of those people who can’t and won’t follow advice while saying “thank you, yes, you’re 100% right…” So that means basically it’s pointless for anyone to help you. Because you can’t help someone who won’t take direction. Your mouth is talking one way, your feet...

Oh dear… it appears you’re not getting it. This whole thread was for nothing. You want to copy someone, mirror them. Well 1) You can’t copy how Al Brooks trades. He doesn’t do live calls. 2) You can’t learn by copying what someone does anyway. Brooks is a technical analyst who also trades...

He won't tell you :) When I was in his trading room for a month he'd sometimes say when he closed out a position (and of course it sounded always profitable or a near scratch). At the end of the day he's discretionary so he uses his handful of strategies to trade how he sees fit. He does...

Reading the tape is not specific to Al Brooks, he just discusses each candle. Sort of obvious when you zoom into a smaller timeframe. That is essentially a lot of what he does: lower timeframe analysis by simply interpreting 5 minute bar behavior. Oh btw, you're not a real Al Brooks guy unless...

I was not referring to you personally but making a generalization. As in "one", not "you" specifically... He always talks the bull and bear case. That is sort of helpful from a chartist POV but it still does not translate to a strategy in any way. Bar by bar is essentially just reading the tape.

The market punishes the proud. Always. Trend traders spend days getting chopped up by fake breakouts and then make it all back (hopefully with profit) on trend days. Mean reversion traders scalp the points by averaging in on most days but then get destroyed on grinding trend days. Sort of like...

I could write a book. Perhaps my favorite was at the only Trader's Expo I ever attended, ages ago. There was this one vendor, Scott Andrews, "Master the Gap". He was addressing a large crowd and discussing his strategy. As he was making his presentation people would interrupt with questions...

I downloaded all three of his books and his entire course. It offered some ideas on how to trade for me, and it was also helpful that he focused on the ES. But indeed, nothing earthshattering. And that's what the vendors do, they repackage classical technical analysis and put their own labels...

At the end of the day Brooks just offers a way to look at very classic technical trades: pullbacks, divergence trades, breakouts, etc. There are no secrets nor magic. It's classic market behavior. And yes, he doesn't take 'directional accountability', he just throws out ideas. And ideas aren't...