Al Brooks trading room

Quote from smilingsynic:

You probably could learn something from Al, as I did.

I have been a consistently profitable trader of the ES, primarily, for several years, and Al's observations have made me money. My trading has improved.

And isn't that what counts?

Live room? Never. A waste of money and, more importantly, time.

But his book is worth reading, carefully, and the free articles on the site are worth reading as well. Considering that most published books and articles on trading are worth less than the paper they are printed on, that is quite an accomplishment.
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I would go as far as agreeing with you. If one reads his book well and understand his articles, one will know when most of the suckers are making their move, and use their orders at least to get out, if not fade them.
 
Quote from shakira:

From that perspective then it may be worth it, for a while at least, as you say.

Yet the ultimate question lingers: Is the guy "teaching" you "stuff", the real deal or not?.

It's not like he is charging $3,000 like that AustinP character charges for crap that he can't himself trade profitably, except when he is selling it.
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Attention-seeking troll, you. Farewell, and good luck. :-)
 
What surprised me that Al said he didn't make much out of his book's sales. He says trading books are low volume sellers and he got a tiny % of the sales...

I guess they are only good for generating PR....
 
Quote from Pekelo:

What surprised me that Al said he didn't make much out of his book's sales. He says trading books are low volume sellers and he got a tiny % of the sales...

I guess they are only good for generating PR....
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Very few authors make money on books (I wrote one myself (non-trading)--I donate the royalties to charity).

New authors of trading books are lucky to receive much more than 10K for a book.

Al admits that he wrote it for ego and for glory. That is probably true, lol, beacuse there is not that much money in it.

Many vendors use books as a printed infomercial of sorts to sell higher-priced videos, workshops, and DVDs. Wade Crook (Cook) was a master of that, before he went to prison.
 
Quote from smilingsynic:

...Many vendors use books as a printed infomercial of sorts to sell higher-priced videos, workshops, and DVDs. Wade Crook (Cook) was a master of that, before he went to prison.
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Wade Cook went to prison for tax invasion.

Prior to that, he primarily used radio (paid commercials) and post office junk mail to market his books, higher priced videos, workshops and DVDs. Post office authorities said he had paid as much as 1 million dollars to market his stuff prior to him & wife being convicted of tax invasion.

Although he's in prison, his business is still in operation under a different name (I believe via his own name) although scaled down until he is released from prison. Unfortunately, part of his sentence was not to stay away from selling those seminars...just to pay his taxes if he makes money. :D

He did settle all complaints against him from the SEC, FTC and many different states Attorney General offices...a slap on the wrist at the time for him. :mad:

By the way, here's my favorite list of folks that have been convicted of tax invasion and some actually went to prison while others got probation for their crimes:

1. Movie star Wesley Snipes
2. Country singer Willie Nelson
3. Baseball star Darryl Strawberry
4. Former Vice President Spiro Agnew
5. "Survivor" Richard Hatch
6. Heiress Leona Helmsley
7. Mobster Al Capone
8. Tennis star Boris Becker
9. "Hollywood Madam" Heidi Fleiss
10. Martha Stewart (insider trading and tax invasion or maybe it was lying about such to federal authorities)

I wouldn't be surprise to see Charlie Sheen and Nicolas Cage on the above list sometime soon.

Also, didn't U.S. Secretary of the Treasury Tim Geithner get a slap on the wrist for failing to pay taxes and he said it was a "simple mistake". :D

Other famous tax cheats @ http://www.walletpop.com/photos/famous-tax-cheats/

Don't mess with the IRS

Mark
 
Quote from wrbtrader:

Wade Cook went to prison for tax invasion.

Prior to that, he primarily used radio (paid commercials) and post office junk mail to market his books, higher priced videos, workshops and DVDs. Post office authorities said he had paid as much as 1 million dollars to market his stuff prior to him & wife being convicted of tax invasion.

Although he's in prison, his business is still in operation under a different name (I believe via his own name) although scaled down until he is released from prison. Unfortunately, part of his sentence was not to stay away from selling those seminars...just to pay his taxes if he makes money. :D

He did settle all complaints against him from the SEC, FTC and many different states Attorney General offices...a slap on the wrist at the time for him. :mad:

By the way, here's my favorite list of folks that have been convicted of tax invasion and some actually went to prison while others got probation for their crimes:

1. Movie star Wesley Snipes
2. Country singer Willie Nelson
3. Baseball star Darryl Strawberry
4. Former Vice President Spiro Agnew
5. "Survivor" Richard Hatch
6. Heiress Leona Helmsley
7. Mobster Al Capone
8. Tennis star Boris Becker
9. "Hollywood Madam" Heidi Fleiss
10. Martha Stewart (insider trading and tax invasion or maybe it was lying about such to federal authorities)

I wouldn't be surprise to see Charlie Sheen and Nicolas Cage on the above list sometime soon.

Also, didn't U.S. Secretary of the Treasury Tim Geithner get a slap on the wrist for failing to pay taxes and he said it was a "simple mistake". :D

Other famous tax cheats @ http://www.walletpop.com/photos/famous-tax-cheats/

Don't mess with the IRS

Mark
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Tax invasion...what a dorky move. Invading a country to pay taxes in it. Is that it?.

Either that or wrbtrader is a moran.
 

Attachments

shakira

You're an obvious troll, instigator and a useless member of Elitetrader. Further, you're also a liar via the fact you stated you put me on your ignore list after I updated my ignore list with the username of someone else.

http://www.elitetrader.com/vb/showthread.php?s=&postid=3100983#post3100983

Quote from shakira:

I have updated mine with yours.
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I've now added your name to my ignore list because members like you should be banned for adding nothing to this forum. Anybody else that wants to add you to their ignore list just like I have done after this message post can simply click on the link @ http://www.elitetrader.com/vb/member.php?s=&action=getinfo&userid=113228 and then clicking the ignore "Add shakira to your ignore list" url in his profile.

Mark
 
Quote from shakira:

I know they are out there ammo. And way bigger as well.

What is obvious is that neither Al nor AustinP belong to that group.
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I don't know about Al, but I sure as hell do not and never will belong to the 1-pt ES scalper crew. Nor will I ever sit up all night at the screens trying that in globex hours.

I do know I like CL trading very much, and only a fool would settle for +$50 contract trading that symbol.

back to the topic at hand, and I'll leave this conversation to those who care rehash it more...

imo, the purpose of a live room operation would include forecasting where price is likely to trade in the near future based on reading price action itself.

it would also include pointing out key entry zones and exactly why they are such, choices for stop management and why, choices for profit exit management and why.

in other words, specific discussion in real time of trade examples, from pre-entry to exit closure

now I guess I could be wrong, and those simple criteria aren't considered important aspects for live-room clients sitting there expecting some type of educational demonstration. if indeed I'm wrong about all that above, let me apologize for the intrusion

please do carry on without me :)
 
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