Al Brooks - Trading Price Action Trends

[mark_mm]

Quote from wrbtrader:

Let me understand, you're sure there was some good stuff in there but you hadn't got that far in the book. Yet you returned it because it was "too rambling".

Why didn't you just read the stuff you called "good stuff" and ignore the ramblings.

How would I know where the good stuff was until I had read it? I have read other books recently that are a 10th of the size and get to the point immediately with maybe a paragraph or two of introduction.

 

[wrbtrader]

Quote from mark_mm:

How would I know where the good stuff was until I had read it? I have read other books recently that are a 10th of the size and get to the point immediately with maybe a paragraph or two of introduction.

Ok, maybe I misunderstood...I thought you said there was good stuff in there but now I realize it was just a figure of speech to be kind when in fact you hadn't read the entire book...correct.

Therefore, you're basically saying that IF there was a good trade method in the book for you...you aren't going to use it because the beginning part of the book was too rambling.

 

[mark_mm]

Quote from wrbtrader:

Ok, maybe I misunderstood...I thought you said there was good stuff in there but now I realize it was just a figure of speech to be kind when in fact you hadn't read the entire book...correct.

I had read some of it and found some good points, but surrounded by far too much padding. I say I am sure there is good stuff based on other posters reviews such as NoDoji.

 

[wrbtrader]

Quote from mark_mm:

I had read some of it and found some good points, but surrounded by far too much padding. I say I am sure there is good stuff based on other posters reviews such as NoDoji.

You can always join Al Brooks discussion forum that's managed by users of his methods and get straight to the good stuff without Al's ramblings (seriously) considering you've implied the method must contain some good stuff based upon the opinions of others that are actually using his methods.

 

[oilfxpro]

Quote from Swan Noir:

I think it is probable he was high, drunk or under distress or at least I hope so. if those comments came from him sober than i have no idea of the mind we are dealing with. The comments are astonishing. BTW ... that does not mean I am anti-trend following. It simply means PA and trend are not at odds. I believe most PA traders are using it as a tool to get with trend at an opportune moment ... otherwise called a good entry ... lol ... !!!

Did anyone every do any statistical analysis on price action in non trending markets?

Does anyone know the probabilities of trading p/a in non trending markets?

What are the probabilities study results of emotional responses to p/a failures?

Did the p/a gurus train you for failures of p/a , p/a trading can be more subjective and more discretionary than trend trading , the lesser of two evils is tt.With t/t you can show trend lines , with p/a you can show personal biases , opinions , ego , beliefs and views.The trend is a market trend and you can show it from the market's consensus.

Opportune moment is also much more subjective .

 

[wrbtrader]

Quote from oilfxpro:

Did anyone every do any statistical analysis on price action in non trending markets?

Does anyone know the probabilities of trading p/a in non trending markets?

What are the probabilities study results of emotional responses to p/a failures?

Did the p/a gurus train you for failures of p/a , p/a trading can be more subjective and more discretionary than trend trading , the lesser of two evils is tt.With t/t you can show trend lines , with p/a you can show personal biases , opinions , ego , beliefs and views.The trend is a market trend and you can show it from the market's consensus.

Opportune moment is also much more subjective .

There's a few books by psychologist (trader psychologist) that have clients that were price action traders that were swing traders and/or trend traders (e.g. Roosevelt). Also, there's a few blogs, websites or online articles (.pdf) of trade methods that were "price action only" (no indicators) performance on trend days and performance on range days.

My point, if you're a price action trader...its your choice to be a scalper, day trader, swing trader, position trader, long term trader, range trader, trend trader or whatever.

Regardless, most price action traders are trend traders. There was a survey a few years back about what price action traders were trading...Range or Trend. Further, here at ET...most of the price action traders (those not using indicators) I've gotten to know are trend traders.

 

[ammo]

before the internet,a trader was defined by the instrument,bond,spu,option,grains,currency trader ,and you had to use all these methods,you built a position thru scalping ,protected it thru hedging,and trend traded it ,increasing,decreasing size for the interum of the move,be it year on year,season,dividend,earnings,interest rate change,but price action as discussed here needs to be the base for entry and exit ,be it a one lot 5 minute or a 3 month position,or 2 year,so instead of quibbling about which moron is smartest,just grab what you can in terms of usable knowledge on price action,if trend is mentioned add what you can to your tool bag,and leave all the lennie and squiggy info comments for a jerry springer thread

 

[Tonkadad]

I am currently reading the book (I-Pad) page 76 of 447. The thing that is a bit annoying is the reference to an "idea" that is covered in book 3.

There does seem to be a bit of repetition but I figure that it just reinforces what I am reading. Also since I am currently only able to read a few pages at a time, the repetition works for me.

My Son asked me something the other night that I thought was quite interesting and profound:

If you knew that if you did the hard work that was necessary for you to reach your goal (what ever it might be) would you do the hard work?

Think about it.

Fav quote (Mark Twain) "I was amazed at how much my parents learned while I was away at college."

 

[cornix]

It looks to me there's a confusion in terms.

"Trend trading" by itself does not explain anything, because trend following strategies can be based on PA, indicators, fundamentals, astrology or anything else.

Oilfxpro, did I understand you correctly, that you mean "mechanical trading" when say "trend trading"? That suits the rest of your posts better (IMO).

 

[oilfxpro]

Quote from cornixforex:

It looks to me there's a confusion in terms.

"Trend trading" by itself does not explain anything, because trend following strategies can be based on PA, indicators, fundamentals, astrology or anything else.

Oilfxpro, did I understand you correctly, that you mean "mechanical trading" when say "trend trading"? That suits the rest of your posts better (IMO).

I use some discretionary price action using pin bars,inside bars,powerful and high probability candlestick patterns , momentum , inter market instruments correlation ,trend lines and trends.

The price action mentors are rehashing the same old t/a, candlesticks and regurgitation of same and reinventing the same wheel.These guys must be desperate losers who are not making money from trading , they need the cash from noobs.