Al Brooks method

speedo said:
Yeah, I'll let Al know is is missing out by not paying to the "special" personalities here on ET :D. In any event I'm done, ET was marginally interesting in it's prime now well past. Ciao and bon chance and all that.
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You often seem unable to provide a rational response when confronted with common sense or facts. Regardless, my reply was to Frederick and just a general comment confirming what he said. No need to take it personally or get defensive. If Al and his students are crushing it day trading ES, then good for them! :)

I do agree that ET peaked years ago.
 
I want to respect Al, but the dude has no track record of trading for a living. I get he has extensive and detailed services with his books and courses, but is there any single shred of evidence the dude trades for a living (makes the bulk of his income from trading, or at the very least a large part of his income) / that he even is / was at one point a consistently profitable trader?

It's hard to put your money and faith into a lot these teachers and vendors because of these incomplete factors. I don't dispute the fact that you can teach people to trade but not really be a good trader yourself, but this honestly, should be a rarity. Or, that you're a good trader, but like to teach more. But if this is the case, I don't see why you can't simply prove your expertise with some publicized legitimate audits if you're that good of a trader.

It begs the question if some of his overly detailed work is overly detailed to make it seem like he's some market wizard or something so he can sell himself more effectively. IDK.
 
Laissez Faire said:
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.
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I don't know the reason. We can speculate, but my point is it raises the question.
 
Laissez Faire said:
Why do you care, though?

You don't seem interested in learning from him, so you're faced with arguing with the believers or getting agreement with the disbelievers.
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It's a discussion board. I'm discussing. I'm also a skeptic. And so I'm...skepting? :D

Anyway, I really didn't mean to rile speedo, who I think is a good guy. (Al, is that you? :D) I didn't think my last few posts were inflammatory.
 
Another brief Brooks video:


I like that he considers his approach to have a ~60% success rate, and is not one of those guys who claims or promises a much higher hit rate. But on the downside, he refers to profit targets in connection with his decision to take a trade. Here we part company, because I think profit targeting is akin to fortunetelling. Finding a good low-risk entry point is a far cry from assuming duration or distance of subsequent price movement. And, as it happens, his buddy, Tom Hougaard, also doesn't buy into the profit target premise.
 
Frederick Foresight said:
But on the downside, he refers to profit targets in connection with his decision to take a trade. Here we part company, because I think profit targeting is akin to fortunetelling. Finding a good low-risk entry point is a far cry from assuming duration or distance of subsequent price movement.
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Another way to think about those profit targets (trader's equation) is with assigning context.

Let's just assume one is scalping; if it's a range day and you're expecting a second leg on a strong move but the 1:1 on a stop entry falls far from the extreme of the first leg it might not be the best idea to take that trade in that direction.

Range days are forgiving but they're also good at trapping. Good trend stop entries tend to be bad range stop entries.
 
Laissez Faire said:
You often seem unable to provide a rational response when confronted with common sense or facts. Regardless, my reply was to Frederick and just a general comment confirming what he said. No need to take it personally or get defensive. If Al and his students are crushing it day trading ES, then good for them! :)

I do agree that ET peaked years ago.
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Hello Laissez Faire,

There are two types of traders for Day trading the ES Futures:

Day Trader A: This trader wants someone to teach him/her how to make money year to year for an income for the next 30 years trading the ES futures market, and trading up to 100ES contracts. The trader wants the teacher to have qualified experienced trading up to 100ES and proof of records Before they invest their time, effort, capital and energy in the teacher teachings.

Day Trader B: This trader wants to learn how to trade price action so they can eventually make money year to year for an income for the next 30 years trading the ES futures market, and trading up to 100ES contracts. Using their own strategy they create.

Day Trader A will not like Al Brooks and complain.

Day Trader B will like Al Brooks.

Day trader A will NEVER in a million years find a teacher and will be poor and never make a million dollars trading the ES futures market.

Day Trader B might make it.

I will be the only trader on ET forum ever to ever trade 100 ES contracts by the end of the year and prove it to everyone. ET forum been here since 1997 and noone ever prove they can trade 100 ES contract. I will be first. Stay Tuned my friend.
 
SimpleMeLike said:
I will be the only trader on ET forum ever to ever trade 100 ES contracts by the end of the year and prove it to everyone. ET forum been here since 1997 and noone ever prove they can trade 100 ES contract. I will be first. Stay Tuned my friend.
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You sure you're not that Indian chap tradergod who blows up once a month?
 
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