Is It a Reversal or a Pullback?

[wrbtrader]

...We are all aware of why people fail, but my point is, if everyone knows that most fail, and most follow the text books, surely that means the textbooks are not the best way to trade!...

I don't know who "we" is for you but most traders I've met at this forum tend to blame the markets, blame someone that's helping them at this forum but the few are smart enough to realize the problem is themselves.

Therefore, my experience is that most traders do not follow books or at least at some point they stop following books but go on their own and continue to fail.

For example, I will assume you're currently not following books that you've read in the past. Yet, if you're not profitable...does that mean the problem is you considering textbooks are not the best way to trade ?

By the way, I do agree with you about textbooks but only because most books attempt to "teach trading" and that's something I don't think is possible. In contrast, trading books about the psychology of trading and books about behavior finance are very useful and has nothing to do with "teaching how to trade".

 

[J_Smith]

There are too many different types of books on the market. Therefore, its meaningless to make general statements like such. Once again, what specific book you're talking about ?

Please give the title and author of the book and you can identify several books if you want to.

I meant all trading books, but as you asked, I will reply to your question.

Al Brooks...Reading Price Charts Bar by Bar

He also has many other books on Amazon, just type in his name and they all come up.

Why does he need so many different books, to explain to people how he thinks is the best way to trade!

What makes him so special, that he thinks he has the markets worked out for everyone else!

J_S

 

[schizo]

I meant all trading books, but as you asked, I will reply to your question.

Al Brooks...Reading Price Charts Bar by Bar

He also has many other books on Amazon, just type in his name and they all come up.

Why does he need so many different books, to explain to people how he thinks is the best way to trade!

What makes him so special, that he thinks he has the markets worked out for everyone else!

J_S

Please don't try to establish yourself as a guru and make this thread into another "Why is the Obvious Ain't Obvious?" I know you have a Socratic bent with countering questions with more questions, but this thread ain't about riddles or philosophy. Now cut the crap. If you think you have a better answer than others, just lay it out.

 

[J_Smith]

Please don't try to establish yourself as a guru and make this thread into another "Why is the Obvious Ain't Obvious?" I know you have a Socratic bent with countering questions with more questions, but this thread ain't about riddles or philosophy. Now cut the crap. If you think you have a better answer than others, just lay it out.

What are you on about!

Show me where any of my questions are riddles!

You said you wanted a serious thread, so I am being serious!

J_S

 

[Autodidact]

I thought it was obvious that I meant trading books in general.

We are all aware of why people fail, but my point is, if everyone knows that most fail, and most follow the text books, surely that means the textbooks are not the best way to trade!

J_S

This I agree.

 

[J_Smith]

This I agree.

Yes, and I think we should use Al Brooks book, Reading Price Charts Bar by Bar as a typical example, of how these textbooks will have no real positive bearing on your outcome as a trader, and they can in fact do you far more harm than good, doing nothing but preventing you from what you should be doing, in order to make money trading.

J_S

 

[i am nobody]

You've actually asked two different questions and I will reply to each question in two different message posts so that each post is small to ensure you'll read both of them.

And Baron will be happy too as the numbers of postings will go up. He can increase the tariff for his sponsors.

 

[Aj2014]

Jsmith, The answer usually given on forums is to NOT use TA or FA, but to use something else which can't be disclosed, and that anything that IS known and is talked about, will not help one make money.

 

[wrbtrader]

I meant all trading books, but as you asked, I will reply to your question.

Al Brooks...Reading Price Charts Bar by Bar

He also has many other books on Amazon, just type in his name and they all come up.

Why does he need so many different books, to explain to people how he thinks is the best way to trade!

What makes him so special, that he thinks he has the markets worked out for everyone else!

J_S

As you can see in my prior reply...not all trading books are the same considering I mention books on "trading psychology" and trading books on "behavior finance". There's others but those two categories are on the top of my list and they have nothing to do with "teaching how to trade".

I don't use Brooks. Therefore, I can not answer your questions. Yet, if they are sincere questions...why not go to threads specific about Al Brooks and ask those questions to those reading his books and to those that have stopped reading his books...makes sense to me.

I do remember something unusual about Brooks...something that at first seemed like a misquote or contradiction. Someone quoted him and then linked to the quote at his site. He specifically stated most traders will fail and that many will not be successful at using his method or any method by anyone else. Yet, I do know you're not concerned about that considering the nature of your questions. That's why its best you talk to those that specifically is using Al Brooks. Heck, go have a conversation with Q3D that doesn't like the guy and maybe he can answer your questions.

Anyways, thanks for answering my questions about what types of books you're talking about and they are much different than the type of books I read about trading.

 

[onemoreshot]

go have a conversation with Q3D

Sounds like a blast on a Saturday afternoon.