Al is referring to limit scalp trades, something he is very good at. I have also traded with others who trade his scalp techniques with much success. Personally , I prefer to wait for stop order swing setups but I've watched he and others do limit scalps all day....and it's real. To each one's own. Again Fred, I only respond to these posts to temper the (mostly groundless) criticism with the respect due.
Al Brooks method
- Thread starter Dinosaur_Supervisor
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I agree.
And I appreciate that. You will note that I gave him his due on the one-chart comment. Just that seeing him actually trade in real time, entries and exits, would be instructive for the many people who are trying to learn his method. Would you not agree?
Sure but time's running out. He has had his trading room open for years but he is spending fewer sessions a month moderating as he is handing over to others trading his methods. The room is not necessary but a deep dive into his material for understanding the material is, given a lack trade room participation. Would I be out of line assuming that you have done neither?....and I don't mean simply struggling in frustration (as I had) with the poorly edited first book. The subsequent books are far better but it's still comprehensive technical content. For many if not most, the video course would be the recommended ticket. I've spent thousands on books, seminars and trade rooms over the years and Al's work is the best I've seen.....and benefited from. Enjoy your day.
I have my own approach, with which I've grown comfortable. But always with an eye on improvement. But, no, I have not bothered to read his other books or view his video material or chat content. However, it just seems incongruent to me that he would have a trading chatroom where he has reportedly never traded in real time. And this with so many potential setups daily on a single chart. So it is not as though he doesn't trade in real time in his chatroom because of the setups being few and far between. Just a reasonable observation, speedo. The man can do as he pleases.
You have a great day, too.
I can report he has traded in "real time" as I have spent a good bit of time trading with him...even before he got into the education biz.I have my own approach, with which I've grown comfortable. But always with an eye on improvement. But, no, I have not bothered to read his other books or view his video material or chat content. However, it just seems incongruent to me that he would have a trading chatroom where he has reportedly never traded in real time. And this with so many potential setups daily on a single chart. So it is not as though he doesn't trade in real time in his chatroom because of the setups being few and far between. Just a reasonable observation, speedo. The man can do as he pleases.
You have a great day, too.
I'm not suggesting he doesn't trade in real time. Just not in his trading chatroom. Am I wrong? I'm only going by what other people have reported online about his chatroom. If that is incorrect, then my apologies.
There are issues of legality about disclosing trades without being and acting as a licensed financial advisor. I am not familiar with the codes but you are on safer ground saying "A swing trader might enter here on a stop above bar 27 after an ABC correction into the retracement zone and MA with a stop below bar 26 and could target a 4 tick front front run of the prior high with a runner to a full measured move." rather than I am going long here ...or we should go long here". But if someone is following a moderator in real time, it should be no trouble following the thread as price progresses....unless someone is actually bogus but that should quickly be obvious. I would encourage any new trader to spend time observing and learning in such an environment rather than mimicking trades anyway, regardless of who is moderating. A developing trader would be best served by learning and observing rather than being emotionally involved with trade outcomes.
Other vendors or instructors engage in their own real time trades for educational purposes to better instruct their subscribers without running into trouble, including Brooks' buddy, Tom Hougaard.
If I were in medical school and wanted to be a surgeon, I think I would benefit from watching surgery performed in real time. Actual performance in real time is messier and sweatier than just color commentary, and therefore more instructive. It goes beyond the mere theoretical and shows it in practice, with all the things that can go wrong in real time and how to deal with them in real time.
If I wanted to be a boxer, I think I would be well served by watching good boxers actually box rather than just have them shadow box and describe various maneuvers to me. You remember what Mike Tyson said, right?
Anyway, let's call it a day, eh?
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Right. I think I saw another guru on YouTube who claimed he was trading on the simulator for legal advice with a disclaimer that it was not trading advice.
Point is - it can easily be done. The reason for why it isn't done is only up to speculation, but I know what I think and this goes for pretty much everyone in the educational business.
If anyone had a really, really good methodology for exploiting ultra liquid index futures they would exploit that opportunity and stake up on it. That's the only rational choice. Of course, it's possible that the method isn't really, really good, but still good enough to be making some money and it makes sense to supplement it with risk free subscriber money.
Or maybe Al just ain't a risk taker and prefer to be a teacher collecting risk free money. After all, it takes a special personality to be putting your money at risk on a daily basis.
Yeah, I'll let Al know is is missing out by not paying to the "special" personalities here on ETRight. I think I saw another guru on YouTube who claimed he was trading on the simulator for legal advice with a disclaimer that it was not trading advice.
Point is - it can easily be done. The reason for why it isn't done is only up to speculation, but I know what I think and this goes for pretty much everyone in the educational business.
If anyone had a really, really good methodology for exploiting ultra liquid index futures they would exploit that opportunity and stake up on it. That's the only rational choice. Of course, it's possible that the method isn't really, really good, but still good enough to be making some money and it makes sense to supplement it with risk free subscriber money.
Or maybe Al just ain't a risk taker and prefer to be a teacher collecting risk free money. After all, it takes a special personality to be putting your money at risk on a daily basis.
. In any event I'm done, ET was marginally interesting in it's prime now well past. Ciao and bon chance and all that.