Al Brooks - Trading Price Action Trends

Quote from oilfxpro:

How does his method and set ups work psychologically?His methods and set ups require processing information and people are not good at that.

I quote Van K Tharp ''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. However, I think most of those biases can be summarized by realizing that trading/investing are very simple processes and we human beings try to make it into something much more complex. Those biases are all about adding complexity to the world.''

http://www.iitm.com/consulting/vkt_interview.htm
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I don't know because I don't use his methods nor do I have access to his books.

Yet, the fact remains that there are those here at ET and Al's forum that are able to process his methods easily while others have a very difficult time at it or easily frustrated accordingly what I've been reading in the several different Al Brooks threads here at ET.

Yeah, getting back to my experiences at college...when the topic involves something technical...it's an easy read for some and a difficult read for others. I don't think I remember having any technical classes where "everyone" agreed it was easy or "everyone" agree it was difficult...regardless if the discussion was about the books or the professor.

Therefore, simplicity or complexity is a perspective thing...some say its simple while others say its complex. It's like anything else in life. Think about it, we could just as well be talking about cars, women, food, sports teams, clothing or whatever...

Your likes and dislikes will be different than others. Get over it.
 
At least the books I read in college where there to learn you something, in a structered way.

There is no way Al Brooks wrote these types of books and accidentally did it completely wrong, not educational.

There is no doubt he wrote these books INTENTIONALLY bad, just to get a certain guru status, like some people said here already: "hey it's darn hard to read so it must be good!! wheeee!!"

this was exactly what he was trying to do.

How sad.

Look, I have no problem showing people live trades I take. But I'm not selling anything, nor lying. Al Brooks is IMHO lying and not a very profitable trader. He's free to prove me I'm wrong and I will admit it publicly that I'm wrong.

I really had a problem reading that he has a problem with the trading 'learning' industry, he said: why would somebody who learns somebody to trade not show his P&L. Well guess what Al, START WITH YOURSELF, SHOW YOUR P&L, SHOW LIVE TRADING ON A DAILY BASIS, NOT A ONE SHOT.
 
Quote from traderslair:

At least the books I read in college where there to learn you something, in a structered way.

There is no way Al Brooks wrote these types of books and accidentally did it completely wrong, not educational.

There is no doubt he wrote these books INTENTIONALLY bad, just to get a certain guru status, like some people said here already: hey it's darn hard to read so it must be good!! wheeee!!

How sad.

Look, I have no problem showing people live trades I take. But I'm not selling anything, nor lying. Al Brooks is IMHO lying and not a very profitable trader. He's free to prove me I'm wrong and I will admit it.

I really had a problem reading that he has a problem with the trading 'learning' industry, he said: why would somebody who learns somebody to trade not show his P&L. Well guess what Al, START WITH YOURSELF, SHOW YOUR P&L, SHOW LIVE TRADING ON A DAILY BASIS, NOT A ONE SHOT.
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Why would seeing his P&L affect understanding his books? He will never show you it so you are wasting your time.

To imagine he wrote books intentionally bad as a tactic to deceive is a bit of a stretch of the imagination. I think you are becoming paranoid.

Leave the rest of us to form our own opinion.
 
Quote from traderslair:

At least the books I read in college where there to learn you something, in a structered way.

There is no way Al Brooks wrote these types of books and accidentally did it completely wrong, not educational.

There is no doubt he wrote these books INTENTIONALLY bad, just to get a certain guru status, like some people said here already: "hey it's darn hard to read so it must be good!! wheeee!!"

this was exactly what he was trying to do.

How sad.

Look, I have no problem showing people live trades I take. But I'm not selling anything, nor lying. Al Brooks is IMHO lying and not a very profitable trader. He's free to prove me I'm wrong and I will admit it publicly that I'm wrong.

I really had a problem reading that he has a problem with the trading 'learning' industry, he said: why would somebody who learns somebody to trade not show his P&L. Well guess what Al, START WITH YOURSELF, SHOW YOUR P&L, SHOW LIVE TRADING ON A DAILY BASIS, NOT A ONE SHOT.
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i have trouble reading and explaining,would never make it as a writer,there is an unusually high number of add adhd impaired people that do well in trading compared to other occupations,i would suspect that he is one of them,this would explain his barely readable writing method..his floating all over when explaining as his mind concentrates for a short time in one area while being drawn to other areas,it's easier to think about several things at once than concentrate on one
 
Quote from traderslair:

...Al Brooks is IMHO lying and not a very profitable trader. He's free to prove me I'm wrong and I will admit it publicly that I'm wrong.

I really had a problem reading that he has a problem with the trading 'learning' industry, he said: why would somebody who learns somebody to trade not show his P&L. Well guess what Al, START WITH YOURSELF, SHOW YOUR P&L, SHOW LIVE TRADING ON A DAILY BASIS, NOT A ONE SHOT.
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* What has has he specifically lied about (please post the actual quote) and do you have proof that he is a liar ?

* He's not a member of this forum considering he is a member of other forums. Therefore, why do you expect him to read your message post and respond to you publicly ?

* I've see a few users of Al Brooks methods post profitable real-time trades on a consistent basis last year in a chat room on the Financialchat server. Yet, at the time, I didn't know what method they were using until long after the fact...that must have some merits with someone like you that's investigating the merits of Al Brooks methods.

* There's a member here at ET that posted live trades for awhile on a consistent basis here at ET. From what I've heard...they were mostly profitably trades and the person uses Al Brooks methods (e.g. NoDoji).

* What did your investigation reveal about those using Al Brooks methods and posting live trades ?

My point...the only thing you can prove is that you've read his books and agree with others that say its a difficult read. Yet, you still can't prove you've purchased his books let alone traded his methods unless you have losing P&L statements that shows trades that correlate with Al Brooks trade methods.
 
I suggest you focus on what you really want to accomplish as a goal.

Rather than focussing on negative aspects of other traders, such as what
some here are doing re: Al and his integrity. I don't know anything about
him or his methods, but look at the ACD method. It is a good intro, on how to develop a simple method, and easily trade it- with discipline.
Cheers,G.
 
Quote from traderslair:

How can I form a comment about somebody if I do not make the effort to investigate what he's doing ?
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If you made the effort to comprehend what he explains in his book(s) and implemented the tactics, your comments about him would be very positive. I've spent nearly a year speaking with several Brooks PA traders and every one of them understands enough of his concepts to put on excellent trades and manage risk properly.

Reading his books is not investigating. If you think you're going to simply read his book and be in a position to provide a proper review, then your ego is way too big a part of your trading life.

If you know nothing about algebra and you read an algebra book, even if it's the finest and clearest book ever written, you will not likely be able to solve equations properly unless you do the work involved in learning the subject.

If you've done the work involved in learning price action trading (and Brooks is pure PA, no gimmicks, no magic 8-ball, no fancy indicators), then with honesty you will say what most of us have said: His book is edited poorly and the shorthand he uses to describe setups and PA are defined in the back of the book, so you have to study the glossary first, and the charts are tiny and hard to read, BUT the lessons are superb and GOLDEN to any trader willing to truly comprehend them and practice trading this way.

Quote from traderslair:

I strongly advise people not to invest the huge amount of time needed to try to figure out what this guru is trying to say or teach.

There are plenty of other profitable trading systems that ARE clearly good explained. There's no need to go true the pain of becoming an Al Brooks believer to become profitable.
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Yes, there are profitable systems that are better explained and kept much simpler than Brooks full buffet (Schwager's TA, for example, is excellent), but for a true connoisseur of price action from the most basic to the most advanced tactics, Brooks is cream of the crop.

I strongly advise people who decide to study any of his books to invest as much time as it takes to comprehend what he's saying and if you don't understand something, post questions in this thread and let experienced price action traders (who are all consistently profitable and therefore usually in a good and helpful mood) answer your questions :cool:
 
I only inject a comment here, because I don't want to see traders here, going down the wrong path.
Overall if you find , through reading and research, a method is difficult to understand then let it go and continue your research that reveals a method that is fairly consistent-success wise- and understandable to you and only you.
I see traders here, spending , it seems a lot of time focussing on what does not work.
It IS very rewarding work, as long as you don't think there is a magic
system out there.
I have met people that earn 5-20k a day; the only thing that makes them successful is that 1-they work and study the market,
2- they understand the market makes shifts to other indicator signals, 3- they step back and get into the flow of the market by observing what is actually happening and NOT running to a chat-board and looking for the next 'Magical' system.
All the best-no more comments from me.
Can't think of anything more to add. It's very simple: study, observe, be flexible, rest, repeat....
G.
 
Quote from Mr_You:

You nailed it Greg. Thanks for the reinforcement.
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Glad someone's paying attention .
Congrats, Mr. You , see you at the Bank deposit.
 
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