I have bought Al Brooks' Trading Course

Laissez Faire said:
Try predicting 5 days per week, 4 weeks per month and 12 months per year in real time with real money on the line. :)

If you're an Al Brooks follower, I'm sorry to say that I think you will end up disappointed.

I know personally how easy it is to think you know something and get a-ha moments, when you really don't know that much in the end. :)
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Thanks for your advice
i have been trading with real money for the past one month.what i am saying is that i have been getting smashed on the 5 minute chart because of to much noise,but i have changed to the higher time frame and everything seems a lot clearer now and where as friday, i wanted to see how i would go on the 1 hour chart.everything i predicted during the trading day came true to the point.i am not al brooks follower but he has helped me a lot through his books and vids.i have my own style that i have developed hard for the last 4 years through trial and error.my knowledge of trading is 15/10.i need to work on my discipline(waiting for the right moment) and money management or in another words stick to my plan(edge).
 
Visaria said:
I think it is a bit late for a full (or partial) refund lol.

I will not be trying, I definitely found value in Al Brooks's course. I did a CL trade that was directly based on his teaching today (i called it live on the forum if you are interested) which more than paid for the course.
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Wow...you're already applying his course with real money. I thought you'll be learning the stuff for a few months before any real money trading.

Did you do any kind'uv brief simulation trading or something to help prepare you for the real money trading ?

The value you found...is it something specific to something in the course or did the course spark other trade ideas of your own that you're now using in your trading or did you just merge his stuff with things you're already doing so that its more suitable for your trading style ?
 
to wrbtrader
i know that their are a few people on this thread that are making fun of al brooks and a few people that are supporting him.
i have read his books and videos.overall he talks shit but there are a lot of great ideas that open your mind and give you ideas.
if i spend hundreds of dollars on books and videos and their is 1 chapter or even 1 paragraph in 1500 pages in books and 40 hours of videos that i can use to give me an edge in trading i consider it to be a good investment
 
nakachalet said:
@Wingz

perhaps, it is best to learn to trade profitably, and in your case, by moving forward with the simm live market. it is utterly useless to self-analyse your personality and what not, without lining yourself up with the live market.

whatever you wish to do, in order to be successful, you need to do it with the market which is forever unpredictable for most.

i just wish to encourage you to study your own potentials and flaws, as you called it, with the markets. they are twins and unseparateable.

similaries, do not spend too much time doing back testing; over several decades, many wishing to attain some sort of holy grail setups trying to
validate whatever they want to validate....

but no one appears to be able to do anything consistent enough to boast about
or to show the trading communities that one profitable setup or a set of profitable setups would be able to produce similar profits with similar consistency and sustainability, in any shape or form.

i am not saying there is no holy grail setup, but those holy grail setups are conditioned upon varying factors which only become apparent to traders AFTER THE FACTS.... the attachment below is one good example....

at around 9 am there were several impending signals that could be interpreted
the price would go lower with about 55% of probability.... but other related charts in the set did not confirm
it as yet. it took some three hours later that signals confirmed with higher
probability that indeed price would go lower at about 75% of probability.

do not give up just yet, wings. there are many different ways to become a profitable and consistent trader.
just remember to get out of your trade, just as soon as your trade does not conform to your predefined setups, K? so there would be enough left to trade during next several sessions.

the attachment is for personal enjoyment and there is no commercial nor trading value whatever, implied or otherwise. enjoy everyone.

best trading to all.

View attachment 158986
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Thanks for your insights. I've been trading live for more than four years now, what I was talking about in terms of pain and fighting through happened last year. I've been consistently profitable this year, things are going well for now.

My path is only one of hundreds of routes, a pretty messy route to be honest but what worked for me. Sometimes you just need to hit rock bottom and make sacrifices to have the leverage to make significant changes.

TKOSTA74 said:
to wingz
i have just gone through all your posts and i cannot believe it that someone from the other side of the world has just been through what i have just been through exactly the same.
thought i was going to kill it until i copped a reality check = check
blew thousands of dollars = check
been stuck in a room literally any chance i have got rather than socializing. people are speaking to me and i am seeing candlesticks in my head= check
al brooks opened up my eyes and got ideas= check
i have studied mark Douglas as well. = check
the last 3 weeks just been smashed on the 5 minute chart asx 200,i pretty much lost hope and all those years pf wasted time.started to look at the 1 hour chart in the last two days and suddenly a very big smile came on my face and i hope i am not delusional but suddenly i can see hope.just watched the asx 200 today to see how i would go and predicted the whole day from trends and reversals( i hope its not a one off)
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It's probably better to have a chat over PM, without completely taking this thread off topic. But if you've read my posts you'll figure out that I went from the 5 minute charts to the 60min and daily charts.

From 50+ trades per day to around 3-5.

The big transition for me was having to make less decisions every day and looking at less variables. With that extra time and more objective decisions I was able to focus on the process of determining my edges and finding opportunities rather than the highly emotionally charged 5 min scalping bollocks. Where emotions continually came into play, along with a continually shifting, unpredictable set of random variables.

You've seen a 'glimmer of hope' and that's a good path to go down. Being able to 'predict' one days trading is statistically insignificant as one of the other posters mentioned. It's a good start though. Shifting to a higher time frame (in my experience) will give you more time to think about and develop edges. To get your validation from building strategies rather than from being able to 'predict' moves.

Hit me up over PM and we can chat through a few things.
 
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I have no idea who Brooks is and I don't want to know (please do not attempt to educate me on the subject for I give a fuck not). Just would like to express my nihilist reaction to the title of this thread...

You'r boned
 
NoVoodooHere said:
I have no idea who Brooks is and I don't want to know (please do not attempt to educate me on the subject for I give a fuck not). Just would like to express my nihilist reaction to the title of this thread...

You'r boned
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Its stealth vendors and or their agents trying to drum up interest to support their meager incomes. Rent must be coming due!
 
TKOSTA74 said:
my knowledge of trading is 15/10.i need to work on my discipline(waiting for the right moment) and money management or in another words stick to my plan(edge).
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In my opinion, and this is something I did not do myself the first times around, you should know your market inside and out and be able to trade it in your sleep before you're putting real money on the line. Do extensive simulator trading. Or if using real money at all, at least do it with a piker account and an extremely low amount of risk.

Personally, I've been live multiple times, but on my final and planned return to the market I'm not going to go live until I have an extremely good and reliable system. When I first got back into things, I thought I could be ready in a month or two. Then I realized it might take me a year (and I have like five years experience prior to that). I've made pretty good progress lately, so I may in fact see myself going live early next year. We'll see. Bottom line is I'm not going to go live with real money until I know 100% what I'm doing and am ready to make a killing (not a living).

From what you're saying, I gather that you don't have a methodology. At least not an objective one.

What you need is a methodology that gives you clear buy and sell signals. There can't be any intuition or trading based on a feel or "I think I've seen this pattern before". Forget it.

As a matter of fact, I haven't completely nailed down this part of my system (which has many parts) yet. But I'm thinking that for me, that solution lies partly in an indicator (which can provide objectivity). Still a work in progress, mind you.

When all that's in place, lack of patience and discipline is NOT a problem, since you're only trading when you're getting signals. Get it? There's not intuition and no interpretation.

At least this is how I see things.

Wingz said:
Thanks for your insights. I've been trading live for more than four years now, what I was talking about in terms of pain and fighting through happened last year. I've been consistently profitable this year, things are going well for now.
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Consistently profitable can mean a lot. Would you say you're really successful? Are you beating a buy and hold strategy?

Thanks in advance.
 
TKOSTA74 said:
Thanks for your advice
i have been trading with real money for the past one month.what i am saying is that i have been getting smashed on the 5 minute chart because of to much noise,but i have changed to the higher time frame and everything seems a lot clearer now and where as friday, i wanted to see how i would go on the 1 hour chart.everything i predicted during the trading day came true to the point.i am not al brooks follower but he has helped me a lot through his books and vids.i have my own style that i have developed hard for the last 4 years through trial and error.my knowledge of trading is 15/10.i need to work on my discipline(waiting for the right moment) and money management or in another words stick to my plan(edge).
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I disagree totally. Most of Brooks' original insights adding to the long history of Price Action theory are on the 5-minute bar and its contextual meaning in the ES in particular, if Brooks' 5-minute bars are often the result of noise then his entire method for deciphering the ES' price action is suspect.

There are plenty of free price action courses and websites available online that talk about old school technical analysis, e.g. wedges and 60-minute candlestick wicks and and trendline breaks, etc.
 
Does Brooks have any original technical analysis insights that are of any value?

If anything the ALWAYS IN concept, the importance of the close of the bar, and the expectation of the 5-minute candles to touch the 20 period EMA after 20 candles are of NEGATIVE value to new traders who could take those teachings out of context due to their lack of experience.
 
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