Al Brook's trading course

[oilfxpro]

Quote from deaddog:

What is all of TA or Price Action or most of TA? TA is a tool. How can it not work?

I would propose that when traders fail it is because they don’t have the same type of well thought out and back tested plan that you have presented. Or they don’t have the discipline to follow that plan.

It can fail if the t/a p/a set up is low probability , there is a difference between high probability technical set ups and low probability technical set ups.The low probability ones will not produce profits , possibly produce losses and therefore fail.

It is all down to set up probabilities in relation to context.

If you pick the high probability set ups and time them to fundamentals , they will produce 80 % plus hit rates and risk rewards ratios several hundred % beter than just using t/a.

 

[oilfxpro]

Quote from NoDoji:

Just because an educator is unable to trade his/her own method, doesn't invalidate the method.

Why buy his course when simple moving averages will smooth out price action , and probably give better results.It is hard to analyze noise , and trend lines and mas do it very easily.

http://www.elitetrader.com/vb/showthread.php?s=&postid=3670628#post3670628

 

[deaddog]

Quote from oilfxpro:

It can fail if the t/a p/a set up is low probability , there is a difference between high probability technical set ups and low probability technical set ups.The low probability ones will not produce profits , possibly produce losses and therefore fail.

It is all down to set up probabilities in relation to context.

If you pick the high probability set ups and time them to fundamentals , they will produce 80 % plus hit rates and risk rewards ratios several hundred % beter than just using t/a.

So let me get this strait; I believe we are saying the same thing.

If TA is used properly (a high probability set up) it will work.

If you combine TA with Fundamentals it can work even better.

TA is a tool (one of many available) and a trader has to use it properly for it to work. So it’s not that TA doesn’t work it just that it may not be used in the proper circumstances.

 

[oilfxpro]

Quote from oilfxpro:

Why buy his course when simple moving averages will smooth out price action , and probably give better results.It is hard to analyze noise , and trend lines and mas do it very easily.

http://www.elitetrader.com/vb/showthread.php?s=&postid=3670628#post3670628

In addition the price action is sometimes treated as a holy grail , and made too complicated for humans to process this information to apply it correctly and implement it.

The following statement would make complicated p/a on lower time frames too difficult to implement in fast moving highly volatile markets.

At the most basic level, people must trade by processing information. Unfortunately, we're not very efficient information processors. We have a lot of biases which enter into trading decisions.

http://www.getfolio.com/investment_experts/Van-interview.asp

 

[Daring]

I've read some of Brook's work, and eventhough, he is a hard read, I have found value just in his techniques to enhance my current style/system and I have only read SOME of his work.

People in this board are too negative about everything, saying TA does not work, PA not working etc. There are many good techniques out there, even free ones out in the open, the problem is not learning then the problem is discipline and attitude.

Learning what must be done is not hard.

Doing what must be done is very hard.

 

[oilfxpro]

Quote from Daring:

I've read some of Brook's work, and eventhough, he is a hard read, I have found value just in his techniques to enhance my current style/system and I have only read SOME of his work.

People in this board are too negative about everything, saying TA does not work, PA not working etc. There are many good techniques out there, even free ones out in the open, the problem is not learning then the problem is discipline and attitude.

Learning what must be done is not hard.

Doing what must be done is very hard.

I just wasted 30 minutes hearing crap ! Just hear his webinar on utube called Al Brooks on Trends, Reversals and Ranges.

New traders will be impressed , not the experienced.

Just heard waffle ,opinions ...........

 

[piezoe]

Quote from smallStops:

I have received an email regarding this course :
I was unable to read the books- as recommended by an ET member- as I didn't have much time. Feedback please about his course

I'll save you the trouble. You won't be able to read the books even if you have time. Why not save yourself time and money. There is another price action book out that's written in English and not expensive. Called Forex Price Action Scalping. by something Volman. I read it, though I'm not sure why. Anyway it is a good, clear, very well written book! fast, 70 tick charts are used throughout to illustrate trade setups for trading the EUR/USD. You could easily test Volman's setups in other markets, on time/price charts and other time frames.

I have Brooks' book too. Have read it. The words were English but the sentences weren't. It's going to make good fire starter.

By the way, I wasn't far into Volman's book when it became clear that whoever wrote it (Volman?, or Volman's alter ego or ghost) was actually a trader and knew something about day trading. I was never sure about that while wading through Brooks' word smears (euphemistically referred to as sentences.) I've always thought that the ability to write or speak clearly about a topic was reliable evidence of an in depth understanding of the topic.

 

[NoDoji]

Quote from piezoe:

Called Forex Price Action Scalping. by something Volman. I read it, though I'm not sure why. Anyway it is a good, clear, very well written book! fast, 70 tick charts are used throughout to illustrate trade setups for trading the EUR/USD. You could easily test Volman's setups in other markets, on time/price charts and other time frames.

By the way, I wasn't far into Volman's book when it became clear that whoever wrote it (Volman?, or Volman's alter ego or ghost) was actually a trader and knew something about day trading.

Bob Volman. This is an excellent book, geared to beginners, one of the best books I've ever read on intraday price action trading. I've found that his 70-tick chart is comparable to a 1-min chart during regular trading hours.

 

[wolfpacker]

Quote from Daring:


Learning what must be done is not hard.

Doing what must be done is very hard.

Now those are some words for the ages... Well said!

 

[Daring]

Quote from wolfpacker:

Now those are some words for the ages... Well said!

It's the reason why this board is full of TA sucks devotes, it's not TA it's them.