Al Brooks trading room
- Thread starter anituchka
- Start date
Maybe after reading the next 3 books and 350,000 words or whatever it is Al will get his point across... Maybe it will take another SIX books. Al says it took what? Ten years for him to become profitable? Wow. Long time... And that was just to become profitable, much less making over a million a year trading his PA method..
You can also hate reading someones book, but walk away from it a better trader.
I had a hard time getting through his book myself. It was a painful experience. But I have to say, I extracted a couple of gems from it that I use and it has improved my bottom line. Aside from his interpretation of price action, he made two points in his book that work (for me at least) on any time frame.
1.) Sometimes close is close enough. If it looks like a signal, but it's not exact, it probably still is a valid signal. I've missed too many trades because I could not loosen up my criteria. This also pertains to exits.
2.) I now let the market prove itself by sweeping me in on a stop order (most times). I've suffered through some tough drawdowns with an early entry before. Trying to get a fill on the exact top/bottom has been a tough road for me. So I don't get the best fill anymore, but I don't get stopped out as much either.
If/when I choose to trade in a smaller timeframe, I would like to have a visit in his trading room. Maybe he could explain and point out a couple doozies ( like a failure of a failed failure. lol) Maybe he speaks better than he writes.
If someone could unscramble and rewrite this book to make it an easier read, I would recommend it. But heck, why should anyone have an easy time at figuring trading out. It hasn't been easy for me, that's for sure.
The better question is, how much did you make last year?
No offense, but you seem like a sucker who looks at a list of mutual funds and picks the one with the highest 3, 5, or 10 year return. As if that has any bearing on the future.
If Andre Agassi taught you to play tennis, if he still played tennis and didn't win a lot of tournaments last year, would what he taught you be worth less?
Everyone seems to have this fascination with the success of someone else. You are ultimately a sucker begging for someone to lie to you. If they lie to you, their information is worth more to you. It makes me laugh.
If you read some information and can use any of it to improve your trading then it should be invaluable to you if it sheds some light for you.
Stop dreaming and decide to trade.
I just read Al's bar by bar analysis for last Friday, the 28th of January. If I were a teacher I would give him a D for a grade. He did terrible trying to predict where the market would go. He kept saying there would be buyers all the way down. Maybe he's just not very good at massive trend down days?
I hate it when he writes in his book that he has a problem with all those guys selling trading education without showing any profit or loss statements.
Well, I would love to see he puts his money were his mouth is and show me his.
He's just the same old 'pay me I'll teach you how to trade' crap just like any other one. He's just using some reverse psychology so you believe him more.
Well, I would love to see he puts his money were his mouth is and show me his.
He's just the same old 'pay me I'll teach you how to trade' crap just like any other one. He's just using some reverse psychology so you believe him more.
He was right on the money. There was wave after wave of bottom fishing buyers who got their asses handed to them and were forced to cover lower over and over again all day long. That is what makes for a nice trend day down.