I have bought Al Brooks' Trading Course
- Thread starter Visaria
- Start date
And also to say that perhaps, shit happens, not every trade can be a winner no matter how good it looks. As Mark Douglas would say, when a trade doesn't work out, all it means is that the people who would usually start buying to support price simply didn't buy. Moving on quickly after a small loss and not letting it affect your next trade is of utmost importance if there in fact weren't any mistakes made.
I don't dispute any of this, except I don't agree that he only focuses on "winners". I was jesting a little with V about selling the material. Regardless, in his books he shows ranges and trends (an entire book on ranges, which of course contain smaller trends), and states who is possibly on each side of a trade. Someone has to be on the other side of the trade, and who's to say they are losing because it looks really good in one direction?
He often states in the book that if you took this trade here, and your stop was there, you got stopped out, even if it became a great trade in the anticipated direction for those who took it in that direction (and often states if you are stopped out, you can go back in, etc).
Have you read his latest 3 books? (Sorry if I asked you last time we had discussion). I'm beginning to think the slides are no where near as detailed (pretty sure they're not...which is why I bought the books). I have not gone back over them since I finished the books (1rst 9 only), but will be doing so through the end of the year, as a book refresher.
What can I say, only, you appear to have common sense, which is not all that common!
Any person who is serious about trading and seeking out "mentors", or someone to help them out, should, and i will stress, should be wary of anyone who only speaks of winning, for, what that really shows is that the person has no real interest in "teaching" the student about the reality of trading, and is just focused on getting the student to part with some money.
Your biggest problem in trading, is, losing!
What one should be asking of someone who "professes" to have attained certain knowledge that can help one gain an advantage when trading, is...
"can you show me how to lose - correctly!"
Let's be serious for once - if any person really thinks that someone who is selling them "information" is doing it for "YOUR own good" - then all I will say is, when you grow up and stop acting like a child, then, and only then, will you start to see the so called "MARKETS" for what they really are!
KP, I take my hat off to you, even though I don't wear one
I will join in some of the discussion you are in, for there are very very few that have common sense, but, for the rest, that pursue then ever elusive dream, that is their own business, and what they do is entirely up to them - it only hits most of them when it is WAY too late!
J_S
I tried... but at the time, it was just far too confusing. If I went through them now, I imagine that I would pick up on it much better, but I still remember that he had way too many terms. In all honesty though, from what I remember he does, I think its overly complicated. A statistical analysis of how certain bars look beside eachother might produce an edge, but I'm more about watching how price is actually moving. I think once you start to see small patterns within these bars, combined with a good sense of important levels, then this will serve the trader much better. But of course there are a million different ways to make this work.
That's true. I spent about an hour per day, and it took me 6 months, but it didn't hurt having looked at charts for a decade, but never considered so much of the way he looked at it. It's important to accept losses emotionally, and he doesn't really get into that except to say hard stops are placed to protect us from ourselves. His book is essentially without emotion when it comes to losses, (and winners).
Thanks for the vote of confidence. I try to be as truthful as I can because I am a real person trying to learn to trade, and after doing this for 18 months now, and losing a good chunk of change in the process, its pretty obvious what works and what doesn't. There really is no better teacher than the market. Coming to forums is good I think to first learn the language of the market, but it seems to speak completely differently to everyone.What can I say, only, you appear to have common sense, which is not all that common!
Any person who is serious about trading and seeking out "mentors", or someone to help them out, should, and i will stress, should be wary of anyone who only speaks of winning, for, what that really shows is that the person has no real interest in "teaching" the student about the reality of trading, and is just focused on getting the student to part with some money.
Your biggest problem in trading, is, losing!
What one should be asking of someone who "professes" to have attained certain knowledge that can help one gain an advantage when trading, is...
"can you show me how to lose - correctly!"
Let's be serious for once - if any person really thinks that someone who is selling them "information" is doing it for "YOUR own good" - then all I will say is, when you grow up and stop acting like a child, then, and only then, will you start to see the so called "MARKETS" for what they really are!
KP, I take my hat off to you, even though I don't wear one
I will join in some of the discussion you are in, for there are very very few that have common sense, but, for the rest, that pursue then ever elusive dream, that is their own business, and what they do is entirely up to them - it only hits most of them when it is WAY too late!
J_S
I am actually trying to participate less and less on here. Every minute I spend here is one less minute with my charts and in SIM (but I am on here very much because I have terrible discipline). The other reason is that the things I'm doing, so many people have said can't be done. I'm watching price on a 5 sec chart, with of course higher time frames to guide me. Its incredible how much you can decipher when you look within a 1 minute bar, or at the very least watch how price moves via the right tick if you only have a 1 min chart open.
Anyway... once I become profitable I intend to give back, but in the mean time, its just full speed ahead.
Taking stops without emotion would achieve that, wouldn't it? Knowing where to put them is a personal preference. Trade management is also a big issue, all of it covered amply in his books. Pristine courses, though expensive, often said a good loser who is also a good winner will triumph where as a good winner who is a bad loser won't. Seems to make sense.
I do not know anything about Mr Brook's material, apart from the amazon overview of his book about trading bar by bar - I posted this somewhere recently.
But - I do have the following courses I purchased years ago when I was a fool, along with many books that I have since forgotten the names of.
Wade something or other -can;t remember - the first one I bought - this one is a real beaut
David Nassar Daytrading Home Study course
"Professional" (now that is a real joke) Daytrading University Course - complete with videos
Todd Mitchell Courses(2) - complete with videos
Larry Levin Futures Trading course - complete with videos
And many many pdf's that covers everything from elliot waves to special tape reading skills!
So, when I say I know a bit about dealing with those who "sell" information, I do not lie!
Now, the long and short - not a total waste of time, for that would not be telling the truth, but, a total waste of money - YES..100%
Not one, and I mean not one, of these stupid courses prepared me for the biggest loser I had -which was 17K sterling in one morning - but, as I did not sleep the night before, as all I could think about was the FTSE 100 falling 400 points, and me with a shit load of "sold" put options -when I closed all my trades with my broker, it was as if a ton of bricks had been lifted off my shoulders.
Now - that is real training - and the only way you get it is by doing it - but don't be a fool like I was - learn how to lose correctly and you will never find yourself in the position I found myself in -and one thing I know for certain, it has never happened me since on that scale, nor will it ever happen me again, that I make sure of now!
Btw, I am not bragging, what I am saying is i am a loser, a big loser, and I am proud of it now
J_S
+1.I do not know anything about Mr Brook's material, apart from the amazon overview of his book about trading bar by bar - I posted this somewhere recently.
But - I do have the following courses I purchased years ago when I was a fool, along with many books that I have since forgotten the names of.
Wade something or other -can;t remember - the first one I bought - this one is a real beaut
David Nassar Daytrading Home Study course
"Professional" (now that is a real joke) Daytrading University Course - complete with videos
Todd Mitchell Courses(2) - complete with videos
Larry Levin Futures Trading course - complete with videos
And many many pdf's that covers everything from elliot waves to special tape reading skills!
So, when I say I know a bit about dealing with those who "sell" information, I do not lie!
Now, the long and short - not a total waste of time, for that would not be telling the truth, but, a total waste of money - YES..100%
Not one, and I mean not one, of these stupid courses prepared me for the biggest loser I had -which was 17K sterling in one morning - but, as I did not sleep the night before, as all I could think about was the FTSE 100 falling 400 points, and me with a shit load of "sold" put options -when I closed all my trades with my broker, it was as if a ton of bricks had been lifted off my shoulders.
Now - that is real training - and the only way you get it is by doing it - but don't be a fool like I was - learn how to lose correctly and you will never find yourself in the position I found myself in -and one thing I know for certain, it has never happened me since on that scale, nor will it ever happen me again, that I make sure of now!
Btw, I am not bragging, what I am saying is i am a loser, a big loser, and I am proud of it now
J_S
I did some Pristine courses, and also learned from those and hundreds of books (from Nissan candlesticks to books on every indicator you can put on a chart), but the real lesson comes from the PAIN! Mine wasn't quite as large as yours, but I ate 4k in the same number of days when I couldn't afford to. I was a bad loser in those days, but have since brought that under control...for the most part. :eek:
Hey man, best of luck to you, KP, and all the others here to, and a great weekend to all!!!