I have a positive opinion of Al Brook's video trading course.
If you are a student of his course, then you would be able to look at this chart, and using Al's vocabulary, identify the long set up, and also explain why the long would be liquidated as noted, and again, using Al Brooks's vocabulary as he teaches in the course.
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Very simple concepts easily understood and easily applied. I do not understand why he has so many critics here. I can only assume most of ET are either functional imbeciles, or just too lazy to do the work. After all, to study and learn all of the ideas and concepts in his course and develop a level of proficiency using them is no mean feat. You won't get there in a day. And, in his course, very near the beginning, Brooks tells you as much.
Lazy people likely won't devote the several hours a day over the course of six months to a year (or more for some) that it would take an apt pupil to become adept at Brooks's trading methodology. A famous quote from Ed Seykota's interview in market wizards has just come to mind. "A losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform. That's the kind of thing winning traders do." The same might be said about the subject at hand: "A losing trader will not devote the hours and days and weeks and months it takes to become a truly proficient and profitable price action trader. A losing trader isn't going to study and do the work. That's the kind of thing winning traders do."
Very simple concepts, easily understood, and wholly derived from others. The value of Brooks's course is that he brings price action, price behavior, and market context together in a way that is very often lacking in those other sources. The hard part is devoting the hours necessary to be comfortable and confident in identifying such set ups in real time, and having studied enough of them in real time to have the faith and confidence to take the position and see it through until you get the reversal signal.
His video course is only $399 and well worth it. I lost many times that learning to trade (many, many times that amount).
I do not recommend his books. My positive view of Brooks's methodology and educational materials is solely based on my experience with and opinion of his video trading course.
I do not care if he trades, or if he did at one time trade, or what his net worth is, or any of that because I know that I myself have used his ideas on a daily basis for quite some time. While he is known for his use of the 5-minute chart, that is no five-minute chart above. I use his method on all time charts, including weekly and monthly charts.
Brooks Concepts used in the trade above:
1) Higher Low Major Trend Reversal
2) H2 Bull flag
3) Wedge reversal
