Al Brooks wrote a book with a cool idea? Well, that's neat, but does this idea make money? If not, this is fiction and if I am to read fiction I would rather choose a book that is well written and you say his is not.
I am not impressed by the guy. I don't care about the book. Everyone can write one, but the trading books need to be judged by how well they contribute to your bottom line. And here lies the problem. Namely, you don't know if anyone has ever made any money with his ideas, and that includes the very Al Brooks.
Check out his website to see what I mean. Here is what he says on it: "I called the NFA and asked what my limitations are and they told me that I cannot make trade recommendations, I cannot discuss my trades or trading results, and I cannot answer specific questions about particular trades that anyone has taken or contemplates taking."
The guys basically states that he will not show you his trading statements because the government does not like this idea. That's a pretty poor excuse. He does not have to show me his trading statements to show some evidence that his ideas can be profitable. He can show me his simulated trades. And how can the government object to that? Show me your 30 or so daily results on a simulator and I will tell you if your trading ideas are on the money.
If not, why bother.
On the other hand, at least he is not one of those slick salesmen who like to impress their marks with an anecdotal trading statement or two. Usually of giant proportions.
There is another reason I am not convinced by this guy. He is a beloved hero of the perennial loser and sleazy vendor operator, Big Mike, and that's a pretty off-putting thing. Of course, I would not put him in the same category as Fat Tails, Big Mike's favorite sociopath and vendor (in this order), but still, a respectable vendor should only be mentioned in negative terms on that forum for certifiable losers or not at all.
Why is it so hard to find a vendor that actually gives a damn about showing his trading prowess? Since Al Brooks claims to be a trader, it's only natural to expect his potential clients to be interested in how good he is at trading. I am not that choosy. I would take even simulated trades. But, alas, even that is too much to ask for when it comes to most vendors.
