Al Brooks trading room

Bakinec · Feb 28, 2011

Quote from Pekelo:

I have just read this thread. As startraitor pointed out, the claim that he can not call trades legally is TOTAL BS!

What do you guys think C2 does? They publish trades. Not by CTA, but anyone who thinks they are a vendor. For 7 or so years now, and they are protected by free speech. It is up to the subscribers how they use that info.
C2 would have been sued into oblivion had this free speech protection not existed. You can bet more than a few hundred accounts got blown there.

The only thing a trading room runner can not do is to give personal advice. He can not say: "Go long here, or short this".
As long as he just describes what he does and says: "I am going long here," he is perfectly fine.

Personally I don't think $100 is a lot per month. Generally I would expect a trading room to make my subscription fee back by calling live trades. It is just my personal preference, I know education is also involved...

I didn't read the whole thread, just last few pages, but if Al doesn't make at least one live call a day, then......I guess I made the correct decision not to read his book past the first 20 pages.
Like you said, there is no legal restriction on making public calls, as long as they are not personalized for a particular person. I guess it's same old crap, just different packaging... I love to educate people, blah balh blah when I could be making millions if I traded. Sure.

GiantDog · Feb 28, 2011

Quote from Gubinec:

I didn't read the whole thread, just last few pages, but if Al doesn't make at least one live call a day, then......I guess I made the correct decision not to read his book past the first 20 pages.
Like you said, there is no legal restriction on making public calls, as long as they are not personalized for a particular person. I guess it's same old crap, just different packaging... I love to educate people, blah balh blah when I could be making millions if I traded. Sure.

Even if he did make calls no one would be able to get in at the same price he does because he said he changes his mind about an entry and makes last second decisions whether to enter or not.

I was in a room with a scalper once and it was impossible to follow him and the room died a quick death. Maybe he is trying to prevent that.

Plus like I said earlier, he is trying to teach people how to learn how to trade not make calls. He's not going to spoon feed anyone with his calls.

BTW, I am not in his room. Don't even trade like him. Just took a few trials to see what's up in his room. Not too sure why I am even defending him.

Bakinec · Feb 28, 2011

Quote from GiantDog:

Even if he did make calls no one would be able to get in at the same price he does because he said he changes his mind about an entry and makes last second decisions whether to enter or not.

I was in a room with a scalper once and it was impossible to follow him and the room died a quick death. Maybe he is trying to prevent that.

Plus like I said earlier, he is trying to teach people how to learn how to trade not make calls. He's not going to spoon feed anyone with his calls.

BTW, I am not in his room. Don't even trade like him. Just took a few trials to see what's up in his room. Not too sure why I am even defending him.

One call a day is not too much to ask of someone who claims to "get it" and teaches others to "get it".

GiantDog · Feb 28, 2011

Quote from Gubinec:

One call a day is not too much to ask of someone who claims to "get it" and teaches others to "get it".

Well, I agree with what you are saying. I think Al is paranoid that someone is going to audit him or something. That is what he has said. I have no idea why he believes this. Maybe he knows the Franz Shoar story and doesn't want to become the next, great Franz Shoar!

Pekelo · Mar 1, 2011

Quote from GiantDog:

Even if he did make calls no one would be able to get in at the same price he does because he said he changes his mind about an entry and makes last second decisions whether to enter or not.

I don't know for sure, but I assume he doesn't scalp. If he doesn't scalp, this explanation is invalid. But even if he scalps, he could use a video like Don Miller and show scalping sequences and such. He could do it after the trading is over, maybe a congested version of a successful part or so.

If he doesn't scalp yes, at least one good call a day, or even just 2 good calls a week would be expected...

Quote from GiantDog:

I think Al is paranoid that someone is going to audit him or something.

If he is paranoid, he is in the wrong country. Everybody can sue anyone for anything in the US. I think the truth is that he is probably doesn't dare to show the results, for some reasons. Hell, his system could have a C2 account and he could use it for advertisement. (assuming the system is fairly profitable)

Bakinec · Mar 1, 2011

Quote from GiantDog:

Well, I agree with what you are saying. I think Al is paranoid that someone is going to audit him or something. That is what he has said. I have no idea why he believes this. Maybe he knows the Franz Shoar story and doesn't want to become the next, great Franz Shoar!

I took and passed the Series 7, 63 and 65 exams only 4 years ago, and I remember very clearly what the law regarding investment advice was. If he is not advising his clients to take his calls as investment advice, but rather as a demonstration of his techniques, then he is exempted from registration.

spd · Mar 1, 2011

Quote from GiantDog:

Even if he did make calls no one would be able to get in at the same price he does because he said he changes his mind about an entry and makes last second decisions whether to enter or not.

He enters on stops, those who've read his book should be able to anticipate where the entry is if he says something is setting up.

Ive never been in his room, but I imagine its worthless if you havent read the book.

austinp · Mar 1, 2011

Quote from spd:

He enters on stops, those who've read his book should be able to anticipate where the entry is if he says something is setting up.

Ive never been in his room, but I imagine its worthless if you havent read the book.

Whether someone has read any certain book or not is irrelevant: if a supposed trader running a live room operation cannot stream live charts and mark out trade-entry action points with precision AHEAD of time, they are fraudulent.

A live room operation hinges upon streaming live charts and explaining price action before it unfolds, while it unfolds and as it unfolds complete with trade entry points, stop-loss management and trade exit choices & decisions.

Anything other than that, and a room operator is not running with the big dogs. No exceptions to that fact. Plain & simple.

GiantDog · Mar 1, 2011

Quote from spd:

He enters on stops, those who've read his book should be able to anticipate where the entry is if he says something is setting up.

Ive never been in his room, but I imagine its worthless if you havent read the book.

Before you do a free trial in Al's room, they ask you how long you have been trading his method. They ask you if you know his shit. Because if you are just a dumb noob, you won't know your ass from a hole in the ground when you are in the room. He teaches price action and does not give calls. He WILL tell you when he is not taking a trade so the noobs won't enter every single move that ES makes.

GiantDog · Mar 1, 2011

Quote from Pekelo:

I don't know for sure, but I assume he doesn't scalp. If he doesn't scalp, this explanation is invalid. But even if he scalps, he could use a video like Don Miller and show scalping sequences and such. He could do it after the trading is over, maybe a congested version of a successful part or so.

If he doesn't scalp yes, at least one good call a day, or even just 2 good calls a week would be expected...

By scalping I mean he will take 1 pt trades when ES is not giving anything else at that point in time.

Don Miller is an idiot. Have you ever wondered why the people in his jellie room are former quarterbacks, CEO's, ect? Because you have to have at least One Million dollars to trade like him. Or else you will fail at trading like Donny. And Donny knows it. At least you won't make much money making $5 a contract traded.

After the day is over, Al does show where he took trades. Does that make everybody happy? Probably not. Because they expect trades to be handed to them on a silver platter.