I have bought Al Brooks' Trading Course

Just a consideration about how much money Brooks has made. Would anyone trust him more selling a very inexpensive, extremely detailed view of the market not knowing what he's made, or telling you he has the holy grail, has made millions, and you can, too!? (and probably charging you tens of thousands for the program instead of a few hundred, and still not really verifying his earnings).
 
debitspread said:
Reporting is always a grey area, but where there's a will there's a way. Recall that Joel Greenblatt published Gotham's year-by-year record right in an appendix to 'Stock Market Genius' (pg 271 in paperback).
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Yes, great point --- But it is a major red flag whenever a publisher uses security or futures regulations as an excuse not to provide performance. To the best of my knowledge, publishers are exempt from such regulations.
 
Visaria said:
I'm looking for specific protocols that may enhance my own trading. I was perusing Brook's site, came across some free videos, watched one of them and some offhand comment that Brooks made was intriguing. I backtested the 'comment' and found it promising. Hence my interest in his course...there may be other hidden gems that could be of value. $250 is a small price to pay if i uncover something that adds 1% a year to my performance.
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Understood. Should it turn out that there is no NFA regulation against publishers publishing results but brooks says this to avoid providing results, will it change your opinion??
 
k p said:
I frankly don't so much care about the money, I just want to see a chart. If someone is teaching you how to trade, complete with telling you where to get in and where stops should be, they should be able to produce a few weeks worth of charts to show their trades. If they in fact trade the way they say they do, then someone who studies their material should be able to spot the trades and understand why they are taken where they are. If they aren't taken there, it should lead to a good discussion. But if someone teaching can't even show themselves trading via their own method.... well that's just stupid.
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What if you took the identical trade when it set up again, but it failed? He does say there are trades he would take, and others he wouldn't, but still gives reasons why you could, or why an institution on the opposite end might.

Average gain or loss points over a period could still be questioned because the markets just aren't that consistent. If gains and losses were all over the road map from week to week or day to day, it would need to be explained. I personally think he's avoiding the stuff many of the bullshit artist gurus do, which I consider a form of honesty.

I borrowed this from a website that others had set up before he was selling his newer material. It's been around since the first book, I believe.

http://www.brookspriceaction.com/portal.php?sid=df423edff895f621bb57aa946791c484

From the FAQs section:

Why don't you post your own actual trades?
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Because I don't want to register as a CTA and subject myself to the distraction of compliance and audits. I called the NFA and asked for guidance before launching this site. They won't allow me to make claims of results, to make trade recommendations, or to answer specific questions about your trades. These all require NFA registration and I want to keep my life simple (look at my charts...black and white, no indicators). They said that I am able to post my analysis of charts and answer general questions without having to be registered.
 
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Visaria said:
This leads me to another point: having read The Alchemy Of Finance (first read it in 1995), i still can't trade like Soros (his less than 30% win rate is tough to endure for starters), but I can and have picked up info that has made me a better trader. In a similar vein, this is what i want to achieve by studying Brook's methods.

btw, @ marketsurfer, page 30, the great man says "Yet, even a cursory look at commodity, stock and currency markets confirms that trends are the rule rather than the exception." No mention of drift!
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Yeah, even the dark lord can make misstatements about the stock market. I don't think heis trained in stat analysis.

surf
 
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marketsurfer said:
Understood. Should it turn out that there is no NFA regulation against publishers publishing results but brooks says this to avoid providing results, will it change your opinion??
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No, i couldn't care less. Anything i learn from him, i subject to my own thinking and testing.
 
Visaria said:
I'm looking for specific protocols that may enhance my own trading. I was perusing Brook's site, came across some free videos, watched one of them and some offhand comment that Brooks made was intriguing. I backtested the 'comment' and found it promising. Hence my interest in his course...there may be other hidden gems that could be of value. $250 is a small price to pay if i uncover something that adds 1% a year to my performance.
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Exactly. That is how I view it. A detailed perception of the markets that can enhance what I've already learned, and I concluded that when I began to understand a few of the articles in Futures mag. At that time, he was just selling the one book.
 
Visaria said:
I intend to study this course intently and see if there is anything that will enhance my trading. If not, I will request a full refund ($249). There are 36 hours of videos to watch. I'll make notes on each video with a critical eye. I intend to watch 3 to 4 hours a day. I will post my satisfaction or otherwise here.
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If I were you I would get yourself some Colombian marching powder. You are going to need it to stay awake.
 
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