I've had a losing day with a 90% win rate and nicely profitable day with an 11% win rate.
I have bought Al Brooks' Trading Course
- Thread starter Visaria
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I've had a losing day with a 90% win rate and nicely profitable day with an 11% win rate.
You Ma'am..., are pretty darn special
And you, Sir, set me on a most amazing path with your answer to a simple question years ago. I'm forever thankful.
The issue here is not whether technical analysis is a fraud or not, clearly technical analysis mixed with years of experience and individual discretion can be profitable, however, very few sellers of trading products mention this.
Are marketers of technical analysis and day trading, whether they are misinterpreted or not, a bigger threat to individual traders' financial and mental well-being than technical analysis is, in-and-of-itself? Is this a case of beneficent trading gods (presumably profitable for-profit educators) giving fire to the ignorant masses, and whatever blame for damage caused by this should be placed solely on the individual trader and not on the individual marketers and the industry as a whole?
Are marketers of technical analysis and day trading, whether they are misinterpreted or not, a bigger threat to individual traders' financial and mental well-being than technical analysis is, in-and-of-itself? Is this a case of beneficent trading gods (presumably profitable for-profit educators) giving fire to the ignorant masses, and whatever blame for damage caused by this should be placed solely on the individual trader and not on the individual marketers and the industry as a whole?
My perspective is day trading.
With a low win percentage you need some fairly large winners just in order to break even. With huge volatility that may be possible, but as soon as markets change, as they always do, you're chopped to pieces.
This is probably the one most important aspect that has to be taken into account to see the value in Al's work and PA overall! Al is a very discretionary trader and CONTEXT is the reason that keeps him away from trading in other ways.
The advantage of context is that, utilized appropriately, results in a very impressive win rate. However, most will not be able to appreciate Brooks' style and methodology purely because of the fact that "context" is not one single element that you note/observe. It is a collection of many components, which in turn have their own context imposed by other market activities. Once this part of Brooks' is understood, which I think may be the hardest to grasp, a trader should see a huge paradigm shift in their trading.
Most traders that see no value or disregard Al's method, may be doing so due to the context (among other things) not being understood in it's truest nature.
Yes. I read it and studied it very carefully at least twice, took notes, printed charts and made my own.
What the fuck?
That's the premise behind his approach. He says that every single tick matters.
And what framework would that be?
I'm fairly confident that not even once did he mention something as simple as trading in relation to yesterday's OHLC levels or other simple statistics that's extremely useful.
@Visaria if you truly want to judge Al's method, I'm afraid you are going to have to dig into his books. The difficulty of Brook's video is similar to Volmann's work, which I would rate as an introductory level to pure PA.
The books are 3-4 times harder and very time consuming. Most people do not finish with his book, but benefit hugely even if they go through half of it.
If you value the videos (more a summary of the books), you might want to get your hands on his books.
Don't mention such high win rates here. I know you're thick skinned, a truckie and all that, but you'll get chewed out pretty bad for that around here
The reason it's so hard to read is because it's very poorly written and because it's largely subjective, intuitive and poorly organized.
And the reason they're writing books is because they're not earning any money as traders.
I mean - If you had something really, really good that you had worked really hard to put together. Would you be publishing it and selling it to others almost for free? Would you be spending all your time on forums trying to educate others?
Or would you keep it to yourself and become filthy rich?
And the reason they're writing books is because they're not earning any money as traders.
I mean - If you had something really, really good that you had worked really hard to put together. Would you be publishing it and selling it to others almost for free? Would you be spending all your time on forums trying to educate others?
Or would you keep it to yourself and become filthy rich?