Al Brooks trading room

ATM1 · Oct 19, 2010

I've noticed that most people don't show there dom. A quick search on you tube though and you can find loads of videos from people with their dom showing

http://www.youtube.com/watch?v=AAc1vJREAlQ

failed_trad3r · Oct 19, 2010

Quote from kiwi_trader:

I had difficulty figuring out the question. Almost as tough a read as Al's book.

I think it was "is the site being run for him or does he run it?"

If it was the answer is " it is run for him." Apparently he started a board (or joined one, I'm not sure) but then found the commitment too much and damaging to his trading. Someone from the original board persuaded him to continue to contribute to their board:

http://www.brookspriceaction.com/portal.php

On the subject of whether he should or shouldn't call trades here is what he said:

"I am not a CTA and therefore need to restrict what I publish on this site. Otherwise, I would have to become a CTA and this is against my minimalistic approach to life. I called the NFA and asked what my limitations are and they told me that I cannot make trade recommendations, I cannot discuss my trades or trading results, and I cannot answer specific questions about particular trades that anyone has taken or contemplates taking. However, I can publish my reading of charts and I can discuss trades and management in general terms. "

That fits with the advice Woodie received.

Why do you guys want someone else calling your trades anyway? Why not just give it to CTA?

It's a bullshit reason. If he shows his DOM, he shows his live trades, which means its NOT hypothetical, which means he doesnt need the disclaimer at all!

What is said here is that he wants to call out trades, that may or not be profitable, that may or not be followed by him, that may or not have an edge.

Basically, the room could be led by the bullshitting neighbour next door and you wouldn't know the difference.

Now I know why 99% of people lose their money "trading"... more like they aren't trading, just following peoples bad advice and gambling.

Man I just love the gullibles!

Thanks for the laugh guys!

spd · Oct 19, 2010

Quote from failed_trad3r:

It's a bullshit reason. If he shows his DOM, he shows his live trades, which means its NOT hypothetical, which means he doesnt need the disclaimer at all!

What is said here is that he wants to call out trades, that may or not be profitable, that may or not be followed by him, that may or not have an edge.

Basically, the room could be led by the bullshitting neighbour next door and you wouldn't know the difference.

Now I know why 99% of people lose their money "trading"... more like they aren't trading, just following peoples bad advice and gambling.

Man I just love the gullibles! Thanks for the laugh guys!

Were you dropped on your head as a child?

failed_trad3r · Oct 20, 2010

Quote from spd:

Were you dropped on your head as a child?

no, but maybe you were? :eek:

RobertG · Oct 24, 2010

Quote from stock777:

Do you really think you can see what the 'amateurs' are doing on the tape of the ES, when they are probably 1% of the volume?

its really more about how they react to things as oppose to being reflected in the charts. it's good stuff..really.

SteveH · Oct 30, 2010

Al alluded to why he wrote the book. He said that it was his hope to get hired as a trading consultant [kinda like getting on the lecture circuit...you know, the easy money with no risk.]

Now, as for Woodie...

kiwi_trader said:

"To the people who said trades are called in Woodies room - years ago Woodie stopped calling them himself after he received some legal advice."

Woodie stopped doing a lot of things years ago...trading, in general, comes to mind. P.T. Barnum would have been mighty proud to have had a guy like him in his organization.

Now is Now · Oct 31, 2010

Showing a DOM means absolutely nothing....it does not prove whether it is a sim account or real money account.

As I understand it , the CFTC disclaimer does not have to be used if the offerer is strictly educational ( learn how to trade) and does NOT provide any recommendations.

And....please NEVER pay for chat rooms....stay away.

NiN

lsubeano · Jan 16, 2011

his room is great for educational purposes.

listen to his comments, read his book and posts in the forum and you should be on your way to be a profitable trader.

GiantDog · Jan 20, 2011

Quote from lsubeano:

his room is great for educational purposes.

listen to his comments, read his book and posts in the forum and you should be on your way to be a profitable trader.

I wonder how long it takes to make what Al said in one of his first articles. I think it was "if you can make just a point a day trading 100 contracts you can make over $1,000,000 a year".

Think anyone in Al's room is making that much?

bearmountain · Jan 20, 2011

Quote from GiantDog:

I wonder how long it takes to make what Al said in one of his first articles. I think it was "if you can make just a point a day trading 100 contracts you can make over $1,000,000 a year".

Think anyone in Al's room is making that much?

Obviously you didn't get the point Al Brooks was trying to make about about WAITING for the right setups. How as traders we get paid to make money and not judged by our ability to execute a large number of trades.

I find this thread interesting, it seems to have attracted all the feeble minded traders who want to be spoon fed trades, rather than thinking for themselves what Al Brooks teaches. A dozen posts about NFA rules.