how to understand Al Brooks

Al does say that the market will try to break support or resistance, what is known as a test of a level, something it does on a continuous basis,and if it cannot break through, it will go the other way.
this is not something new, which he has discovered-he is not the father of technical analysis :D - but it is also correct.
i have tried to incorporate this simple concept in my trading strategy:i try to take note of the result of these tests market makes; the correct interpretation of this result is critical to making the correct trading decisions
 
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I'm highly skeptical of any market 'guru' that cannot put up some sort of verified track record or clearly demonstrate their methods in forward testing.

Al did a podcast with BigMike/Futures IO back in December '16 in which he was fairly and squarely asked about a track record, and gave some weak excuse about the NFA and legality problems or something like that (unfortunately it looks like the video has been taken off Youtube.)
 
smileypete said:
I'm highly skeptical of any market 'guru' that cannot put up some sort of verified track record or clearly demonstrate their methods in forward testing.

Al did a podcast with BigMike/Futures IO back in December '16 in which he was fairly and squarely asked about a track record, and gave some weak excuse about the NFA and legality problems or something like that (unfortunately it looks like the video has been taken off Youtube.)
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can you name any guru who has a verified track record and is also willing to take time off from his lucrative money making trading activities,to answer stupid questions about trading from lazy people who want one line explanations on how to make millions of dollars?
i have been studying technical analysis from 1994 and in all that time only come across one person who declares his trades,as he makes them and that is David Fuller.

Also Al does not have his own method he has only renamed a few technical patterns and called it his own;as has Ross and Hansen to name two others.
Ross has also renamed the first pullback as Ross hook which is H1 in Al's language
so i cannot say they are wrong but they are guilty of saying they discovered technical analysis-none of them are the parents of technical analysis :D
 
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do you need a certified and verified market guru to tell you what to do-buy or sell- when you see the chart below?
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Or to put it in another way,if Volpri, Al Brooks ,Joe Ross or me would tell you to sell eurusd in the chart below because of all the lower highs it is making would you sell?
Or would you ask for their verified trading statements?

for me personally, if what someone says, makes good technical sense, i would follow their advice.
but you please make up your own mind.Fred [ Foresight ] has obviously made up his mind,:D i respect that.

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traderGOD said:
do you need a certified and verified market guru to tell you what to do-buy or sell- when you see the chart below?
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No I don’t need such a record. It is easy to test someones ideas to see if the have merit, work more than they don’t, and make money over time. JUST FORWARD test them on a live SIM!

People ask for proof. You trade live. That isn’t good enough. They want to see a brokerage statement. That isn’t good enough. They want to see an independent audited brokerage statement. That may not be good enough! They may want the auditor to be audited to make sure he/she is authentic!

What such proof seekers need to do is to get off their lazy backside, study the concepts someone propounds, then test them to see if they have merit and work for them. Not all strategies and tactics work exactly the same for everyone. We are different.
 
volpri said:
No I don’t need such a record. It is easy to test someones ideas to see if the have merit, work more than they don’t, and make money over time.
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I agree. Most people who decide to give trading a whirl never do any testing other than a quick visual back test scroll on the last 20 minutes of 5 minute bars.
 
volpri said:
No I don’t need such a record. It is easy to test someones ideas to see if the have merit, work more than they don’t, and make money over time. JUST FORWARD test them on a live SIM!

People ask for proof. You trade live. That isn’t good enough. They want to see a brokerage statement. That isn’t good enough. They want to see an independent audited brokerage statement. That may not be good enough! They may want the auditor to be audited to make sure he/she is authentic!

What such proof seekers need to do is to get off their lazy backside, study the concepts someone propounds, then test them to see if they have merit and work for them. Not all strategies and tactics work exactly the same for everyone. We are different.
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lol, so true. I understand healthy skepticism but there comes a point where when one chooses a path of exploration, there must be a factor of respect and trust. Respect in material that's being shared has some kernel of truth at it's core, trust in that it's in good faith, and then to verify by grounding that trust into testable hypothesis's through personal effort.

Imho, it's the personal testing that could use the first spotlight rather than attacking and dismissing a source.

It comes down to a fundamental difference in belief - is the world out to support one in the accomplishment of their dreams or more to f*ck one over?

With the first belief, all manners of opportunities present themselves, in the latter, those opportunities are interpreted as obstacles.
 
No two traders trade identically. What you can gleam from other traders, published or not are ideas to test to incorporate into or in creation on you own trade plan. If Al's work resonates with you, test and perhaps use them, if not move on. Whether Al or anyone else makes money trading has little to do with your own prospects for success....that's up to you. I've read many books when I was trying to find my way, most of them have little or nothing to do with the way I trade but why waste time criticizing or whining about the material. Such "efforts" have no effect on whether or not you will make a living.
 
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