Al Brooks Net Worth
- Thread starter Darc
- Start date
The problem with this kind of Price Action Technical Analysis I have, that for everyone there is a period when market does repeat itself on certain historical patterns and sometimes not. There is also a high variation of that, so all kind of from 100% repeating to gradually down to 0% doing the opposite what it should do, all that exist. There is no underlying indicator when this kind of stuff should work or not. I have not seen so far any indicator (like Hurst or other things, like applying a moving average on the Equity Curve of such a PA strategy) that could predict the ongoing success of this. So this is highly likely very discretionary to be really consistent successful with that.
Don't hate the Player. Padu is doing $1500 plus a session and you're bagging him, Scat too.
Pretty sure my longer term Strategy earns more than yours. The shorter timeframe one I'm currently working on, which may or may not include Brooks should too.
Hello Laissez Faire,
If you want a million dollars, Sell trading books and trading courses.
Easier to sell then trade
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Actually Al expends considerable discussion regarding strategies appropriate for different phases of market cycle. Not understanding price behavior in all contexts is a principal reason traders fail A one trick pony "works" well until it doesn't.
I understand a lot more here. There is no such thing like market cycles on a fine time scale. If you go the very large timeframe you can differ between cycles but you cannot trade this (as this would result more in investing). There is also no fine seasonality. I could extend that kind of list...but I would not be finished in writing today, so I stop here now.
Price is fractal in nature, flat base trading ranges, breakouts, tight and narrow range trend channels etc. occur in all time frames. You either understand the nature of current price behavior or you don't.
Sorry, that is your understanding how you put certain Price Action into pieces. Where you understand those pieces. But there is nothing like that. It can be any kind of variations and mix of them and many more where you have no explanations of this price behavior in its moves...
and to make it worst you have no idea when this kind of stuff will repeat to a certain extent in the next move /future or not. Because there is no indicator showing you when there is repetition of "certain" historical moves or not...
I hope your post made sense to you, all the best in your journey.
Of course it makes sense to me...I hope it also makes sense to you, otherwise you need a good portion of luck in your trading adventure.
Happy trading anyway.