If you think 100k/yr is "killing it" in the mkts, then your standards are very low! :eek:
Al brooks says breakouts provide the largest edge for a trader yet...
- Thread starter ChkitOut
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True, a well capitalized trader could do 7 figs I'm sure.....
but for most Al followers.... I think 100k a year would be considered killing it.
from what I've read in forum journals and stuff Big Mike has said about traders he talks to....
most are average joe guys who dont have a ton of spare cash, many are carrying personal debt, etc
so for someone like that.... 100k would be a dream come true
Quote from Ol' Yella:
True, a well capitalized trader could do 7 figs I'm sure.....
but for most Al followers.... I think 100k a year would be considered killing it.
from what I've read in forum journals and stuff Big Mike has said about traders he talks to....
most are average joe guys who dont have a ton of spare cash, many are carrying personal debt, etc
so for someone like that.... 100k would be a dream come true
judging by some of the posts on his website it does not appear that any of his followers are making 100k or 20k for that matter.
Ok, I see what you mean....it's all relative 
Quote from Ol' Yella:
True, a well capitalized trader could do 7 figs I'm sure.....
but for most Al followers.... I think 100k a year would be considered killing it.
from what I've read in forum journals and stuff Big Mike has said about traders he talks to....
most are average joe guys who dont have a ton of spare cash, many are carrying personal debt, etc
so for someone like that.... 100k would be a dream come true
Quote from R. Raskolnikov:
Ok, I see what you mean....it's all relative
Fucking DUH....
There is no point in talking profits without mentioning account size. Making 100K on a 50K is impressive, on a 2 million account, not so much...
I am curious how much you make on what account size that you look down on 100K.... Also where you live with how big a family makes a slight difference, but I shouldn't state the obvious...
Here's my summary of what I've seen posted at this forum alone:
* Traders use his discretionary method not exactly the way he teaches it and they use it differently in comparison to each other.
* Most applying it to trading instruments that Al is not trading or has never traded.
* Most are small traders and beginners.
Al does not have a website unless my research skills is poor. In contrast, there's a discussion forum designed / maintained by some of the users of his method and they've asked Al to post at the forum @ http://www.brookspriceaction.com/
Yet, Al does have a youtube @ http://www.youtube.com/user/BrooksPriceAction
There are a few blogs and stocktwits accounts by users of Al's methods that they're doing well but then again...they too aren't using Al's method as is. Simply, it seems like they took whatever they learned and made changes to it so that it works for themselves.
Isn't that the point of learning a "discretionary method"...make it your own.
Edit: Continuing the research...I found this website @ http://brookstradingcourse.com/ (will assume its via Al himself)
Quote from Pekelo:
Yes, your research skills are poor...
It says on the top:
"Welcome to Al Brooks' trading website."
"We have recently negotiated with Al for a daily webinar at a very reasonable price. "
Even his picture is there...
I read this too at the top...
...This site is run by a community of traders that follow Al's price action trading methods....
In addition, Al himself did specifically say in an interview he did NOT make that forum and that he does make appearances at the forum although lately it does seem like he spends less time there. That takes me to the other link I found @ brookstradingcourse.com which seems to actually be Al's website (I could be wrong).
Looks like my research skills aren't that bad.
I heard Al say the friend averaged 10 ES pts. daily, was quite consistent and traded a constant 24 contracts as that was his comfort level. I'm not suggesting that I have any idea as to the truth of the statement but I heard Al say those words if not verbatim very close to verbatime.
BTW ... I do not think it is absurd that someone reaches a comfort level and sits there for quite some period of time. Assuming the above is reality that same guy might be comfortable at 35 cars next year and 50 a couple of years later. Making the decision to continue to trade a somewhat smaller percentage of your capital base as that base increases may be very conservative but it is not crazy. He might have busted out a couple of times a decade or two ago and is delighted to be in the catbird seat right now.
You can trade a smaller percentage of your capital, increases your spending and still have your capital grow by a constant dollar amount every year. There are all sorts of good options for the trader that can take even a steady two or three ES points a day. Clearly a guy talented enough to average 10 points daily has the world, at least financially, by the balls!
BTW ... I do not think it is absurd that someone reaches a comfort level and sits there for quite some period of time. Assuming the above is reality that same guy might be comfortable at 35 cars next year and 50 a couple of years later. Making the decision to continue to trade a somewhat smaller percentage of your capital base as that base increases may be very conservative but it is not crazy. He might have busted out a couple of times a decade or two ago and is delighted to be in the catbird seat right now.
You can trade a smaller percentage of your capital, increases your spending and still have your capital grow by a constant dollar amount every year. There are all sorts of good options for the trader that can take even a steady two or three ES points a day. Clearly a guy talented enough to average 10 points daily has the world, at least financially, by the balls!