"Too long".
I've been involved with trading (part-time: I've done other things, like a couple of degrees, at the same time) for ten years now - I started "too young" - and have been making what most people would call a good living from it only for the last three years of that. I come from a trading background and had available both facilities and support which few people have; I've done my thousands of hours of education, reading, research, training and practice; I've put in my thousands of hours of screen-time; I'm very Asperger-ish (which helps in several ways); etc. etc. - and it still took me many years to manage it. In short, about as far from an overnight success story as you can get. I think the realities of trading predicate that - with hindsight - it's nearly always one of those "If I'd only known earlier what I know now ..." things, but here's the thing: nobody ever does (not even people with all my undoubted original advantages on the playing-field).
Al Brooks method
- Thread starter Dinosaur_Supervisor
- Start date
I've read two of his books. Although they're repetitive and not super well-written, I've gotten a lot out of them nonetheless as far as how to quickly identify trends vs ranges. He's also got a bluntness to him that broke me of a couple stupid habits I had early on. His "Reading"book is really the only one you need to read IMO.
I've posted a number of entries on Al Brooks, which I would summarize by saying that Al expresses a number of opinions with which I agree, but he never gets specific enough to say much of any practical value (though I admit I've never read his books carefully and only skimmed through his writings, which I found online AFTER having developed my own profitable system of trading Forex).
Recently, I skimmed through a couple of books I checked out from my local library just for fun, and in my opinion, they were much more practical than the stuff Al's written because they provided actual examples of trade strategies traders could try out, explaining them step by step and including illustrations/examples of when they worked and when they did not.
I'm pretty much in Al's camp when it comes to believing in not putting a whole lot of faith in indicators, except when it comes to moving averages and moving average envelopes, of which I am a BIG fan!
Recently, I skimmed through a couple of books I checked out from my local library just for fun, and in my opinion, they were much more practical than the stuff Al's written because they provided actual examples of trade strategies traders could try out, explaining them step by step and including illustrations/examples of when they worked and when they did not.
I'm pretty much in Al's camp when it comes to believing in not putting a whole lot of faith in indicators, except when it comes to moving averages and moving average envelopes, of which I am a BIG fan!
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Perhaps not unlike an amusement park fortune teller?
Would that be an average fortune teller or an average fortune teller wrapped in a envelope?
Interesting, I would've said he gets too specific sometimes, he really loves his own quirky terminology. As for MAs, I've heard him say a few times the only MA he allows on his chart is the 20EMA, and I've come around to that as well, great for identifying PBs on all day trends.
Al's critics by and large know little to nothing of his work so take the criticism for what it's worth. The title of this thread displays little connection as well. Al does not teach a "method", he teaches how to understand price behavior and formation. My study of his work has had a great influence on my own "methods" as we will all trade differently. There is a great deal of content which requires a great deal of study. Most are not interested in that level of commitment.....and most fail as traders. In any event, to each one's own.
No need to condescend to those of us who started reading his material and found it wanting (to be much briefer and possibly even coherent, and at the very least written in English that doesn't look like it was translated through a few other languages first).
I find it interesting that Tom Hougaard, the European trader who wrote Best Loser Wins, has participated in presentations where Brooks was also a speaker. The interesting part is that Hougaard voiced his disregard in a number of his videos of vendors who don't show their performance or their trades in real time. He didn't mention Brooks by name, but I wonder if Al's ears turned red.
Al and Hougaard are friends and Tom has expressed his admiration for Al many times but think what you will Fred, matters not to me. I only have concern for negativity causing aspiring traders to avoid his excellent work.No need to condescend to those of us who started reading his material and found it wanting (to be much briefer and possibly even coherent, and at the very least written in English that doesn't look like it was translated through a few other languages first).
I find it interesting that Tom Hougaard, the European trader who wrote Best Loser Wins, has participated in presentations where Brooks was also a speaker. The interesting part is that Hougaard voiced his disregard in a number of his videos of vendors who don't show their performance or their trades in real time. He didn't mention Brooks by name, but I wonder if Al's ears turned red.
THAT is what I found interesting for the reason mentioned above. I can't quite reconcile it on its face.
I understand your concern. For my part, I think trading is hard enough as it is without an author making it seemingly impenetrable. Einstein reportedly said that the definition of genius is taking the complex and making it simple. By all appearances, Al Brooks took a different approach.
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