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LOL.Like the head of a megachurch he writes some good magazine articles. NEVER have read his books, but thats ok.
Mr Al will not take the place of Stock Traders Almanac or Proverbs.
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can price action predict market moves
- Thread starter geth03
- Start date
LOL.Like the head of a megachurch he writes some good magazine articles. NEVER have read his books, but thats ok.
Mr Al will not take the place of Stock Traders Almanac or Proverbs.
,What if it's the other way around, i.e., when a particular move is in play it can be identified by a specific signal/pattern? Buying looks like 'this'; selling looks like 'that'.
Regardless, you're still scratching the surface here at best. Referring once again to Jim Simons (and another very smart contributor on this site) - the why isn't important, i.e., why a particular pattern is working. The only thing that matters is that it's working and then being able to exploit that.
yeah, i should expect that answer from a spread trader xD
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LOL.Like the head of a megachurch he writes some good magazine articles. NEVER have read his books, but thats ok.
Mr Al will not take the place of Stock Traders Almanac or Proverbs.
here is a review from tradingschools: https://www.tradingschools.org/reviews/al-brooks-trading/
this is the shit he says in his trading room:
“Final flag, final flag, definitely final flag probably entering trading range with close support at possible entry point for aggresive buyers and definite exit point on multi-point sell position”
“Failure reversal bull flag with sellers climax possible sell, but looking to buy on minor pullback of micro bubble. Indecision bars signalling continuation of reversal points.”
wtf is this guy talking about? at any point in time the price can go up or down. and he is justifying this possibility with patterns, and in hindsight it will be clear and he will review his trades and justify again why price moved that way. and the guys watching this will learn absolutely nothing.
What if it's the other way around, i.e., when a particular move is in play it can be identified by a specific signal/pattern? Buying looks like 'this'; selling looks like 'that'.
Regardless, you're still scratching the surface here at best. Referring once again to Jim Simons (and another very smart contributor on this site) - the why isn't important, i.e., why a particular pattern is working. The only thing that matters is that it's working and then being able to exploit that.
thats a very subjective point of view i guess.
i will never understand why retail traders use technical analysis whereas academic research shows over and over that it is not reliable.
of yourse you can catch good moves eventually in a bull market and contribute it to TA, but reality is, TA might not have mattered at that point of time.
you can not really compare Jim Simons with others or take him as a role model.
Simons knew where he could find the smartest guys for certain jobs and he had massive money behind him.
Wikepedia:
What you've mentioned in this thread so far is just a very, very shallow and specific subset of TA.
There are no free lunches or quickly learned methods for consistently extracting money from the market.
I don't care what some academic researcher with no skin in the game says about the subject. There's a huge amount of evidence in the real world that TA works.
Fair enough. Everyone's a genius in a bull market.
Sure you can. And Jim Simons did not have massive money behind him when he started out.
The key takeaway here was that he spent well over a decade before finally figuring it out. Why would you expect it to be different for you?
Thanks for sharing. LMFAO hahahahahahaahaahahaha. Good laugh for the morning.
I seem to recall you as a Brooks proponent? Did you change your mind?
It's really head shaking that someone would spend so much time and effort trying to discredit a disciplinary field and one of it's major contributors (someone much smarter and successful). If you don't want to spend the considerable time and effort to understand the nature of price discovery, that's fine but to continue to rail against it on a trading site makes you look like an imbecile. Have some self respect and go do something which you have a measure of competence and understanding. I realize I am likely talking to the wall but ya never know.