How to apply Brooks' PA?

Hi,

Will subscribe to your thread. It has already been very helpful.

What resources do you use for day trading? Is there a place where it is discussed? Eventually, I'd like to learn swing trading.

Regards,

dozu888 said:
read my 'trading is easy' thread... a combo of Brooks and daily news events.

daily bars have a real open and close... an open that has gathered all the overnight news, and a close that summarizes the day's trading.
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Alfing said:
...I did search the forum before posting. Everything I found was arbitrary and not really related to my main question. After reading the book, it would be extremely helpful to communicate with those who practice Brooks approach. Do you know how can one find traders who practice this type of trading?
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Why not just join Al Brooks forum ???

I always wonder why people go to other forums like here at ET (elitetrader.com) to ask for those using the methods to communicate with them about their use of the methods (Al Brooks) when the guy has his own forum for such type of communication especially via the fact that the forum is free to join.

Is there something wrong with the forum for Al Brooks that would send users of the trade method to other forums ???

It just seems like there would be too much of a distraction to talk about Al Brooks methods (how to use it) at other forums by the non believers when they obviously would not be able to do the same at his own forum.

Anyways, if you do find others here at ET to communicate with...I strongly recommend to do such only via private message...this forum is setup nicely for private thread conversations.

wrbtrader
 
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You can get some ideas and some direction from books, forums and seminars but your real education will come from many hours of observing price development. You will begin to develop your own ideas which you can then test. There is really nothing much in the way of shortcuts...you have to do the work and what you see will be different than what Al's or any other trader sees. It may have similarities but should you succeed at this, you will be different, unique, we all are.
 
wrbtrader said:
Why not just join Al Brooks forum ???
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I did. Got zero responses. So much more feedback here for eager learners.

Perhaps, I misunderstood the nature of this forum. What topics are better for discussion here?
 
Alfing said:
I did. Got zero responses. So much more feedback here for eager learners.

Perhaps, I misunderstood the nature of this forum. What topics are better for discussion here?
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Anything can be discussed at this forum...one of the reasons why this forum is above the competition (other forums). Yet, Al Brooks is a controversial topic...almost all the "public" threads here about Al Brooks are just basic arguments & personal attacks on both sides of the camp...a lot of discussion noise.

In contrast, you will quickly see whom are using the method or recommending the method...those are the people you should have a "private" conversation here at ET in the private thread section...the private thread section is a way to avoid all of the mudslinging that occurs in the public area of this forum.

However, I'm surprise you got ZERO responses at Al Brooks forum when there's activity in other threads at his forum. Did you ask your questions in the active threads of the forum or did you start a new thread and got no responses or did you send the moderators direct messages at that forum ???

There's free chat room some years back (I'm not talking about his fee trade room) on IRC by users of the method. I took a peak at it and it had about 15 active users. The free chat room was started by "users of the method"...not by Al Brooks nor was it used by Al Brooks.

Yet, I don't know if its still around today considering overall chat rooms have declined considerably with the rise of twitter, stockwits, facebook, instagram social media.

Heck, even traditional forums have declined (memberships, activity, useful content) due to the rise of the above mention social media formats.

wrbtrader
 
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wrbtrader said:
There's free chat room some years back (I'm not talking about his fee trade room) on IRC by users of the method. I took a peak at it and it had about 15 active users. Yet, I don't know if its still around today considering overall chat rooms have declined considerably with the rise of twitter, stockwits, facebook, instagram social media.
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Maybe I am not finding what you are talking about. All I can find is $99 chat room. It is my understanding that more resources were available to a wider public in the past.
 
There was a time when there were a number of quality moderated educational sites but I know of none now. As long as there are beginner and struggling traders, there will always be cons and touts. Active traders have limited time and focus to engage in ongoing chatter.
 
Alfing said:
Maybe I am not finding what you are talking about. All I can find is $99 chat room. It is my understanding that more resources were available to a wider public in the past.
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I'm talking about his free forum at his website...not the fee trade room. In contrast, there use to be a free chat room on IRC (Othernet server).

Thus, there's a difference between trade room for a fee versus a chat room for free. Yet, I don't remember the name of the free chat room on IRC...maybe "Brooks Trade Methods".

Just go on IRC and do a search via the /list command. It was the Othernet server back in the day when I saw those active 15 members. That free chat room had nothing to do with the Al Brooks website...it was on the Othernet server on IRC and it had a few members from this forum (ET).

So yeah...there was more resources available by the wider public but those resources were not started by Al Brooks...they were started by "users" like you wanting to meet others using the methods.

I wouldn't be surprise if there are not any private groups on twitter or facebook by users of the methods...not openly advertised to avoid the trolls.

wrbtrader
 
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speedo said:
There was a time when there were a number of quality moderated educational sites but I know of none now. As long as there are beginner and struggling traders, there will always be cons and touts. Active traders have limited time and focus to engage in ongoing chatter.
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Nevertheless, I'd argue for the necessity of mentorship for the pros. I'd start with the argument that people learn best when they are able to teach/explain it to others. By helping others, one helps oneself.
 
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