Al Brooks Net Worth

[Laissez Faire]

In case there was any confusion, I meant non-event to the downside, but I did say BTFD mode for now and 4470 first, so I guess I was clear enough.

 

[Rams Fan]

Knocked out. With that big breakout I'll need to wait for another set up.

 

[zghorner]

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.

I will allow myself 1 martingale but rarely use it. After averaging I tighten my stop and am very disciplined about this. I have become extremely picky though as most of the time I would have just been better off getting out. Will only do it if there is no momentum against me and I see a clear path in my favor.

 

[NoahA]

short 4426, stop 39.75, three times buyers were induced to pay up into the mid 4430's, and three times sellers won. Data release at 8:30 in the East could change this in the blink of an eye. Pre-release FOMO could ramp me out before 8:30. The set up is a third push failed breakout.

I like how consistently you are entering. The entries all make sense and follow the 1 tick above or below bar setup.

 

[SunTrader]

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...

“Selling your winners and holding your losers is like cutting the flowers and watering the weeds.”

- Peter Lynch

 

[Laissez Faire]

Two shorts on the Open anticipating a pullback after this major run. Switched long when I realized I was on the wrong side of the market and that the market is in 'insane mode'. Nothing fancy. Just going with the flow.

I'm done here, but this can easily continue higher. 4550 is within the realms of possibillity today. Especially with so many shorting this.

Most likely not, though, but it's a trend day until it's not (< 4500 as of now). Don't short this, yet.

 

[Sprout]

I think you missed the gist of my post which was first and foremost a critique against all the pretenders on this board who are endorsing methods that they themselves are not successful using.

By all means, I welcome all discussions on Al Brooks, Jack Hershey or who have you, but just don't pretend you're successful using them if you're not. See what @SimpleMeLike is writing lately, i.e., my advice is worth less than a penny with a hole in it since I'm a net loser for 2023. How wonderful this forum would be if people were as transparent as that.

So, if anyone wants to speak highly of Al Brooks, be my guest, but have the decency to not pretend you're rich or profitable trading it if you're not. It could be as simple as: "I think Al Brooks hold a lot of promise and I'm still learning the method, but be warned that I'm not yet a consistent profitable trader using it."

How about yourself? You were a huge proponent of Jack Hershey and spent a lot of time "helping" another guy who pursued that path and the impression one would get was that you were highly successful using Jack Hershey's methodologies. That guy eventually posted a net loss on his first attempt into live trading (a far cry from 2-3 x the daily RTH range) and then disappeared.

Then, I see you dabbling in crypto, astrology and the last I heard is that you're studying ICT.

If the Jack Hershey method you were and still seem to be a huge proponent of delivered even a fraction of what it promised, you should be extremely wealthy by now and don't have any need for astrology or ICT (which I'll keep my opinion on for myself).

Now, maybe I'm in the wrong and you actually are very profitable trading all these methods, but if you're not, you should calm down on the advice giving and 'mentoring'.



For most traders success is a dream and will remain a dream.

That's the message newbies need to hear because it's the truth.

Goading them on and encouraging them to work harder or longer is simply cruel.

Newbies need to hear that this is hard as hell and that they better be prepared to spend 10 years of their life in order to have a fighting chance at this and maybe not even then. Knock some realism into their head and give them a better alternative for their life.

And please spare me the motivational quotes. They have zero relevance.

Trading is about problem solving. And if you can't solve the problem, no amount of motivation or positive thinking is going to help you.

Even though I've adopted a growth mindset, I miss a lot, probably also forgotten more than I currently remember. While I feel simultaneously seen, appreciated, challenged, called out, dissed and subject to one's own frustration and ire, your post feels like I'm being goaded and believe I've answered a majority of your questions before here and here. The questions I didn't answer, most likely, would be best served in a separate thread.

Since this is an Al Brooks thread, my answers are pertinent to this topic. I studied Al's method for about 6 mths, have his books (never finished them) and did his video course. It's a methodology, it can work if someone works it; I had success with the method. If someone doesn't experience success with it, then the problem is with their own mindset and psychology.

In my experience all the various flavors of TA are about having a language to describe and categorize market phenomenon. If I'm learning a foreign language, do I fault the language itself if I can't understand someone speaking it?

As for the Brooks method, imho it's not a holy grail in and of itself but can support one in building their own unique system; some are traditionalist's and adhere strickly, others more adaptable and add-on to their own unique knowledge base.

Afaik, one's holy grail is a component to the mythical "Hero's Journey" that each must undergo to manifest a dream.

ymmv

 

[Good1]

Go short to enter at 4515
Cancel prior short order.
If filled short at 4515, long reversal will be at 4527 and visa versa.

 

[Good1]

Go short to enter at 4515
Cancel prior short order.
If filled short at 4515, long reversal will be at 4527 and visa versa.

Ok, I would have been filled at 4515 short, and then reversed at 4427 long.

I would be long right now with one small loss.

Reverse long to short at 4510.
If filled reverse to long at 4540.

 

[schizo]

Ok, I would have been filled at 4515 short, and then reversed at 4427 long.

I would be long right now with one small loss.

Reverse long to short at 4510.
If filled reverse to long at 4540.

What do you mean you "would have" or "would be"? Are you playing with us?

I can only say my suspicion was correct all along. You are a pretender. "Woulda, shoulda, coulda" don't apply to legit traders.