Al Brooks video

SpiderPigBacon said:
I guess I would like to be able to scalp or day trade to make bigger returns and to compound my capital very frequently
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Preferences:
a) scalp or day trade
b) make bigger returns, compound my capital very frequently

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SpiderPigBacon said:
finding an edge
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"a profitable strategy" and "an edge" are the same in this context prolly but if not let it be known.

1) "Mostly a profitable strategy
2) or how to develop it..."

1) If a strategy fell onto the table, how would you determine if it is a "profitable strategy"
 
easymon1 said:
Preferences:
a) scalp or day trade
b) make bigger returns, compound my capital very frequently

-

"a profitable strategy" and "an edge" are the same in this context prolly but if not let it be known.

1) "Mostly a profitable strategy
2) or how to develop it..."

1) If a strategy fell onto the table, how would you determine if it is a "profitable strategy"
More...

The only way I know is backtesting and forward testing.
 
Rams Fan said:
Look at the time of my post. 9:14 AM. I had to get to work. I trade. I trade the S&P 500 futures. That's the business I am in and I don't set my own hours. The market does.
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And you never once came up for air during that time. Marvelous.

Rams Fan said:
Here is why this discussion is garbage, since you asked: Almost every post in this thread that is negative toward or against Mr. Brooks and his teaching is not based on any real effort spent trying to learn from Brooks. So why would any serious student of Brooks, or a serious student of any other technical trading approach for that matter voluntarily discuss that method here? With people who have no knowledge of or experience with that material?
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No, there are those who think well of Brooks' materials and there are those who don't. I didn't think this thread was a purity test.

"Serious student of Brooks." Please. I read maybe a third of his first book before I returned it to Amazon for a refund. That was the only book I ever returned, out of the hundreds I ordered from Amazon over the years. It reads like it was translated from English to several other languages, one after the other, before being translated back into English. And this is the genius of Brooks? As the saying goes, any idiot can make something more complicated; it takes a bit of genius to make it simple.

No, I didn't really want anyone to explain the content of over 2,000 poorly written pages of text and over 100 video hours of Ferris Bueller's economics teacher on tranquilizers. I just wanted an example of something remotely meaningful that would not be found in the simplest of TA pamphlets. Still waiting.
Rams Fan said:
please don't sit here hitting your browser refresh waiting for me to respond to you.
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Now you tell me! I've been hitting refresh every 2 minutes since my last post here yesterday.
 
easymon1 said:
Preferences:
a) scalp or day trade
b) make bigger returns, compound my capital very frequently
More...

That's the Only way to trade for a retail trader looking for money and real growth; Day trade and compound.
Assuming a trader can do that relatively consistently, they will be rich and happy in no time.

Mutual funds, investing and holding the S&P or Apple or Tesla, swing trading, etc etc won't get you there. A trader needs to be able to day trade, and compound their account and trades...to end up with real money that they can spend today on whole Alaskan King Salmon, or nice shoes, or a car or house.

It has to be a leveraged product, options, with precise timing.
I always roll my eyes at these guys who are so happy to make 9% a year, all while spending so much time trading the market? That seems like a stupid tradeoff when they could just buy and hold the S&P and do something else with their time and lives.
 
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SpiderPigBacon said:
Some people say that making 20% a year makes you a rock star,
other people say that they can make 100% a year,
and others talk about even making %1,000 or even several times that.

In some cases you would need to make between %50 to %100 a month to have the returns some people claim like Valckrie, Richard Dennis, Cameron Ross, Dux, Madaz, etc.

Given that I can't find a clear answer even for that and my fruitless attempts at finding an edge I've been lately considering just abandoning this dream and do other things with my time...
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20% a year, consistently, is impressive if you manage billions and billions in funds.
100% a year, consistently, is also possible for smaller accounts.
1,000% a year is also possible.

50-100% a month is also possible.
All of these gains, and more, are possible if you trade leveraged products -- and have f'n precise timing, and understanding and the right approach and process of trade and management. An account will grow hugely with compounding.

Don't give up, trading.
Learn and observe. Learn and observe. Learn and observe.
Question things, question things, and question things.
Paper trade in your mind, paper trade in your mind, paper trade in your mind.
If you do all of these things....I can guarantee you, inevitably, a light bulb will go off in your head.
Life is a chain reaction of moments. If you close off one moment or head to another direction, then you have decided your fate for that door.
Have some faith in the process, and future, if you truly want it. Faith along with modern, contemporary, intelligence and independent thinking will get you there. Don't get lead astray by demons and devils, and social media personalities, salesmen, and people on forums.
 
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MacBookProHo said:
That's the Only way to trade for a retail trader looking for money and real growth; Day trade and compound.
Assuming a trader can do that relatively consistently, they will be rich and happy in no time.

Mutual funds, investing and holding the S&P or Apple or Tesla, swing trading, etc etc won't get you there. A trader needs to be able to day trade, and compound their account and trades...to end up with real money that they can spend today on whole Alaskan King Salmon, or nice shoes, or a car or house.

It has to be a leveraged product, options, with precise timing.
I always roll my eyes at these guys who are so happy to make 9% a year, all while spending so much time trading the market? That seems like a stupid tradeoff when they could just buy and hold the S&P and do something else with their time and lives.
More...
I agree with your two posts. If you're making peanuts it's not worth it. For 10% a year just invest in index funds and be done with it.
Thanks for the encouragement.
 
SpiderPigBacon said:
I know about backtesting but it seems to me that finding or developing an actuality profitable strategy is not easy.
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You say that you know "about" backtesting. See you already have a good start.
Now tell us,
10) Do you know how to do a backtest to determine whether a "profitable strategy" is sitting in front of you?

How to backtest?
- https://www.dogpile.com/serp?q=How+to+backtest

How to backtest by hand?
- https://www.dogpile.com/serp?q=How+to+backtest+by+hand

11) What is a higher priority in your search for a profitable strategy than the ability to determine if the strategy of interest is indeed profitable?
 
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