Al Brooks Net Worth

[SunTrader]

I mentioned this trade trigger yesterday (though of course it doesn't work every time) Close below the high close bar low:-

 

[Laissez Faire]

As for your self-serving distaste of "anyone who claims to be using a method", I say screw you!

How rude of you, tiddly wanks. You should go wash your mouth. LOL.

On a serious note, it's not the first time you jump into a thread all emotional and missing what the discussion is all about.

I never expressed distaste towards anyone who claims to be using a method or said anything to that effect. I don't need to repeat specifically what I wrote. You can re-read it and see if you get it on your second attempt. If not, I'll repeat my point.

You want some input about MY trading life... add volume to YOUR posts! I have very little to say trade-wise without it.

I don't.

So, no worries about that.

 

[Rams Fan]

ET has become a 17th century Witchcraft court...
tie up the witch and throw them into a body of water.
If they sink they are innocent, if they float they are guilty.
The practice was called "swimming a witch".

An apt analogy

 

[Rams Fan]

H2 which is always a long signal for me. I closed the shorts (-8 points) and opened a long position at 4426, one tick above the high of the 4 hour candle that closed at 10 AM Eastern.

The breakout again failed, and if ES does not close above 4435.50 I will exit the position and wait until tomorrow morning to see what sets up.

 

[Darc]

Having seen that video Al Brooks video posted earlier in this thread, I suspect that he is not much of a trader. He knows what to do, but when it comes to putting his own money or even his own reputation on the line, he is unable to do so. That is my current assessment of Brooks as a trader.

However, his trading course is not compromised by his own psychological failings.

Many thanks for your input as always Rams Fan.

Do you think that your success as a Trader is due moreso to your experience, rather than Brooks teachings?

 

[Illini Trader]

Interesting. When was that?

I'll emphasize one thing. Note the bold part in what I wrote:



Even if you know what to do, you'll often find that as a discretionary trader you may not always be able to do it. Trading is rigged against human nature. We want to be right and we're willing to gamble with losses while taking certain (and small) wins. Check out prospect theory.

I'm not afraid to admit that it will still happen that after a second or third add-on, I won't always be able to take the breakeven exit and give it some extra room to breathe.

The one rule I seem to be able to follow religiously is that I never average down.

The problem with averaging down is that it can surprisingly often work, but the few times it don't, you will take that huge loss.

You display some very perceptive thinking here: Especially the part that our human nature is willing to gamble with losses but we are afraid to gamble with the risk of losing our profit.

Incidentally, "Averaging Down" works more than just "often". It works most of the time because of the market volatility, but when it does not watch out because it will wreck your account. I too have learned my lesson well about averaging down.

 

[Specterx]

I'm guilty of constantly teasing on ET about hershey and especially his frequent mentions to volume analysis.

Jack Hershey died a number of years ago (2016 or thereabouts?). Somebody posted the obit which included his address. The house was a ghetto shack in some one-horse town in Arizona. If memory serves, Hershey's primary disciple on ET (who naturally claimed to be pulling down 2-3x the ATR every day out of the Emini futures market) was eventually doxxed as a convicted sex offender who managed a small campground in the Southwest.

tl;dr Hershey never made a dime trading, and anyone who claims to make consistent money applying his nonsensical principles is lying.

 

[schizo]

Jack Hershey died a number of years ago (2016 or thereabouts?). Somebody posted the obit which included his address. The house was a ghetto shack in some one-horse town in Arizona. If memory serves, Hershey's primary disciple on ET (who naturally claimed to be pulling down 2-3x the ATR every day out of the Emini futures market) was eventually doxxed as a convicted sex offender who managed a small campground in the Southwest.

tl;dr Hershey never made a dime trading, and anyone who claims to make consistent money applying his nonsensical principles is lying.

Dude, no matter whether he made money or not, you shouldn't treat the deceased that way. That's extremely rude and disrespectful.

 

[Sprout]

Jack Hershey died a number of years ago (2016 or thereabouts?). Somebody posted the obit which included his address. The house was a ghetto shack in some one-horse town in Arizona. If memory serves, Hershey's primary disciple on ET (who naturally claimed to be pulling down 2-3x the ATR every day out of the Emini futures market) was eventually doxxed as a convicted sex offender who managed a small campground in the Southwest.

tl;dr Hershey never made a dime trading, and anyone who claims to make consistent money applying his nonsensical principles is lying.

Your due diligence is F-
as well as your logical reasoning skills

 

[Rams Fan]

Do you think that your success as a Trader is due moreso to your experience

My willingness to define set ups and not wing it.