Al Brooks Trading Best Pice Action
- Thread starter Ares
- Start date
i have tried to study his book without succes
in his room he calls a trade like this long after the trade already was running in the right direction:
i just took this long because blablabla
i knew he was just a snake oil salesman like all the rest
in his room he calls a trade like this long after the trade already was running in the right direction:
i just took this long because blablabla
i knew he was just a snake oil salesman like all the rest
Trading is a zero sum game after commissions , so why trade?
Write three books for triple royalty ,triple free promotion of seminars .
Writing books and seminars for $2k each is a money spinner.
If these guys knew how to make money from trading, they would be operating huge hedge funds and trading billions $.
Look carefully what exactly you wrote.
First you tried but without success, so you don't know for what he is talking
2nd: you've been in his trading room and you took long because of blablabla. No offence but Al Brooks many times has been giving the priority of any trade. There are several option to take a trade. Only because it is a bull trend doesn't give you the 90% possibility to keep going further in this direction. More, most reliable setups are from the first pullback or for the second leg. Of course you gotta know what is this too, not just blind following of signals.
3rd mistake of you. You said you knew !? If you knew that you will be screwed up, why did you go there ?
Only with these two opinions from you I understand that you know nothing about price action. How you suppose to make any progress without understanding and knowing the very basics of the price movement ?
Of course the bars are just things with OHLC data but the story doesn't stop with OHLC.
Think about it and over this that everybody is complaining instead to get learn.
That is the whole point of his trading methodology. Enter on buy/sell stops and let the market running your direction put you in the trade.
If you really read his book, you must have very poor reading comprehension. In which case you wont understand what I just wrote and you will reply will generic ad hominem.
You apparently care very, very much about the traders who visit this site. Since you want to protect them from harm, please do this instead of posting random generic comments about Brooks:
If Brooks promotes any particular trading strategies in his book that, if traded every time the setup appears in one's time frame, produces net losses over time, please share the page number(s) of the dangerous trading strategies promoted so all the traders here you're trying to protect will know what to watch out for in case they're already sucked into the Brooks cult.
Did you develop your profit-generating trading strategies all by yourself or did you use the resources of others (web site information, books, seminars, newsletters or mentoring) at any point?
If you did it all yourself, good job! Since you're so concerned about other traders' welfare, you can help by sharing something useful about your trading tactics.
If you used any of the resources mentioned above, then be thankful for the gains these "gurus" helped you attain and share who helped you the most so the others you care so deeply about can also benefit.
Happy New Year
ND ...
I can see you are keeping them in line right till year end!! Wishing you and yours good health into the New Year and far beyond. Thanks for the tips and encouragement a year ago.
And for those that doubt price action in general and the way Al uses it in particular I encourage you to rethink your position. There are many fine traders using PA to generate superb returns. It is how they stay snuggled up close to every market they trade. It takes a lot of work to learn, requires patience to practice and runs counter to ones "animal spirits" yet, for those who master it, very profitable with a low overall risk profile. While I did not get rich (at least not yet) 2011 was my first profitable year and I thank All and his basic PA techniques. In time -- another year or two -- I will master the complexity and nuance. At that point, if I get there, I think there are few limits to the success that is possible.
Tommy
I can see you are keeping them in line right till year end!! Wishing you and yours good health into the New Year and far beyond. Thanks for the tips and encouragement a year ago.
And for those that doubt price action in general and the way Al uses it in particular I encourage you to rethink your position. There are many fine traders using PA to generate superb returns. It is how they stay snuggled up close to every market they trade. It takes a lot of work to learn, requires patience to practice and runs counter to ones "animal spirits" yet, for those who master it, very profitable with a low overall risk profile. While I did not get rich (at least not yet) 2011 was my first profitable year and I thank All and his basic PA techniques. In time -- another year or two -- I will master the complexity and nuance. At that point, if I get there, I think there are few limits to the success that is possible.
Tommy
Quote from NoDoji:
You apparently care very, very much about the traders who visit this site. Since you want to protect them from harm, please do this instead of posting random generic comments about Brooks:
If Brooks promotes any particular trading strategies in his book that, if traded every time the setup appears in one's time frame, produces net losses over time, please share the page number(s) of the dangerous trading strategies promoted so all the traders here you're trying to protect will know what to watch out for in case they're already sucked into the Brooks cult.
Did you develop your profit-generating trading strategies all by yourself or did you use the resources of others (web site information, books, seminars, newsletters or mentoring) at any point?
If you did it all yourself, good job! Since you're so concerned about other traders' welfare, you can help by sharing something useful about your trading tactics.
If you used any of the resources mentioned above, then be thankful for the gains these "gurus" helped you attain and share who helped you the most so the others you care so deeply about can also benefit.
Happy New Year
His words, from his website "Incidentally, I make very little off of the book so please do not feel compelled to buy it. "
http://brookspriceaction.com/portal.php?page=4&sid=1927825ca37cca8cf7f396f5b5138556
Al Brooks just comes across like a bored guy to me. He isnt married, his kids have go on to college, I think he just works on these book projects for fun. He likes trading, and writing about it helps fill the time.
You dingleberries ever stop to think that maybe writing the books helps him in his own trading? Writing your concepts out on paper is a great way to critique and refine. A bunch of 1 lot pikers trading his method isnt going to make ripple in the ES, much less screw him up. Get real.
Just a bunch of fucking negative knowitalls.
http://brookspriceaction.com/portal.php?page=4&sid=1927825ca37cca8cf7f396f5b5138556
Al Brooks just comes across like a bored guy to me. He isnt married, his kids have go on to college, I think he just works on these book projects for fun. He likes trading, and writing about it helps fill the time.
You dingleberries ever stop to think that maybe writing the books helps him in his own trading? Writing your concepts out on paper is a great way to critique and refine. A bunch of 1 lot pikers trading his method isnt going to make ripple in the ES, much less screw him up. Get real.
Just a bunch of fucking negative knowitalls.
Having been in his webinar a few months last year I agree with your assessment 100%. He likes to trade, he likes to talk about trading and he likes to write about it. He's successful at what he does and, as he clearly states, there are many good traders that know all about price action and use similar techniques whether they call the setups the same names or not.
With its incredible liquidity a 50 lot ES trader does not matter during RTH. I'm a pretty cynical New Yorker yet I believe Al trades in size and does very well. And this nonsense about him showing us his statements is crazy. What right do I have to ask him about his income just because I spent $45 on a book?
With its incredible liquidity a 50 lot ES trader does not matter during RTH. I'm a pretty cynical New Yorker yet I believe Al trades in size and does very well. And this nonsense about him showing us his statements is crazy. What right do I have to ask him about his income just because I spent $45 on a book?
People usually write books to promote themselves; I am sure his books have increased his income from the trading room and seminars.
I don't really want to get involved in the discussion, but I would like to say that Mr. Brooks have manged to overcomplicate matters grossly. There is no need to suffer through his book in order to become a successful price action trader.
I'd rather read Livermore, Wyckoff and Neill first. And, if one wants to learn to draw lines on charts, pick up a copy of Edwards & Magee. That being said, if one is capable of trading in such a manner, there is not really any need to read anything. One only needs to spend a little time and effort "getting it"....
It can't hurt to read Reminiscences though! I would claim it to be a much better approach than focusing on the bar-by-bar "nonsense". The easiest trading is trading price action at the right levels...
I don't really want to get involved in the discussion, but I would like to say that Mr. Brooks have manged to overcomplicate matters grossly. There is no need to suffer through his book in order to become a successful price action trader.
I'd rather read Livermore, Wyckoff and Neill first. And, if one wants to learn to draw lines on charts, pick up a copy of Edwards & Magee. That being said, if one is capable of trading in such a manner, there is not really any need to read anything. One only needs to spend a little time and effort "getting it"....
It can't hurt to read Reminiscences though! I would claim it to be a much better approach than focusing on the bar-by-bar "nonsense". The easiest trading is trading price action at the right levels...