BAR BY BAR -- Al Brooks

Quote from mxjones:

I am not saying the content of this book is bad, but I am saying the writing is terrible. Al uses 30 words when only 5 are called for, and it needs to be organized in a more coherent manner. He talks about stuff in early chapters that he doesn't explain until later chapters, and it takes a lot of work to figure out WTF.

You would think his publisher would have paired him with a capable editor, but it appears not. You need to spend a lot of time with this book, but not because it is complex or "for seasoned traders"....because it is convoluted and you have to work to figure out the point he is trying to make.
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Could not agree more. The writing in Brooks' book is terrible. That's what makes it difficult to read. And the charts are too small. The printing is terrible. It has the potential to be a good book, but this first edition is not it. I've read both dbphoenix's e-book and the Brooks' book cover to cover, both have worthwhile stuff to say, but the dbphoenix book is the better buy (free!), and much better written.

In any book, if you don't place your own prejudices in the background, i.e., omit them, you risk discrediting your entire manuscript. Brooks' makes that mistake twice. I don't understand why John Wiley didn't crack down on him, but they did not. And why, Oh why, didn't they edit the writing to make it intelligible? A shame.
 
Quote from piezoe:



In any book, if you don't place your own prejudices in the background, i.e., omit them, you risk discrediting your entire manuscript. Brooks' makes that mistake twice.

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I am curious as to what two prejudices you believe he has failed to put aside. Trading related or political or life view? I COMPLETELY subscribe to your views on the writing, editing (if there was any) and charts. It's hard to take when a guy has things to say that I need to hear.
 
During the last seminar that good ol' Al Brooks gave, did anyone notice that at the end when he was taking questions he was asked what a bad day for him would be? He really didn't answer and more or less made it sound like he never has a losing day. I highly doubt if he is that good.
 
A lot of posters seem to like this book.
I honestly didn't get much farther than the 1st chapter, since it is quite reminiscent of most of the other common TA books (IMO).
My contention is the same as many other 'TA' books; it is sorely lacking in any type of statistical or back/forward OOS-test quantification.

Common assertions he makes like "the odds favor a continuation of that direction," reference absolutely zero evidence to back up that assertion. It would be nice if he actually took some sample of many such actions, and literally evaluated the 'odds' with a quantifiable value.

Take a simple book, like trade like a hedge fund or Crabel's older stuff, and you'll see more of the type of quantified results that these types of 'classical TA' books lack. Even Covel's 'trend following' book (which many here seem to oddly disdain), has concrete backtest examples in the back. Unfortunately, even the back-test only books are quickly becoming obsolete.

2c to newbies. Enjoy the anecdotal TA books caught in the dark ages; along with lingering unanswered questions, they will quickly pile up on your shelves until you finally begin to embark on modern methodologies.

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If anyone sees any kind of statistical or quantifiable backtests in the book, please correct me; I'm always open to constructive criticism.:D
 
Quote from piezoe:

I've read both dbphoenix's e-book and the Brooks' book cover to cover, both have worthwhile stuff to say, but the dbphoenix book is the better buy (free!), and much better written.
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It looks to me like the book by dbphoenix is a 23 page excerpt of a book that is not free.

I just downloaded the dbphoenix ebook. It has the most unusual opening I've ever seen for a trading book:

"Many years ago (Really in Market terms this is like Dogs Years in Reverse)..... i.e. days..... there were several good folk. Some were beautiful Women Folk, some were Handsome Men Folk, and others were like me..... kinda short, Fat and on the Homely side."
 
DB is a very intriguing character. Ask him to provide any proof that what he does actually works.

The reply should be entertaining. He is now posting regularly at traders lab and bringing the noobs along w/ his gibberish.

:eek:
 
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