I've signed up with Al Brook's Price Action course

[themickey]

ROFL....Bet you won’t pay that forward will you? Talk is easy. Show some trading.

Nup!

 

[themickey]

.....pay that forward .....

More guru gobbledegook speak.
Pay what forward to whom?
LMAO, besides you don't trade stocks and/or longer than intraday.

 

[volpri]

More guru gobbledegook speak.
Pay what forward to whom?
LMAO, besides you don't trade stocks and/or longer than intraday.

Back when I traded stocks I did hold for many days. In such cases I usually lost. But when I day traded stocks I made money. I was not a good stock picker for holding.

Pay your super dupper chartless system forward to all the ET’ers so they can make some $$ and quit looking at charts scratching their heads.

Your chartless system aka “the secret sauce” as of now should work better when more people know about it. The guru’s might even start making money with it. Just think...sharing = more $$$ for thee.

 

[volpri]

What's the name of the symbol of the chart and the timeframe on the chart ?

wrbtrader

UIS 30 min. It is in my journal. A poster named poljot posted it there with some questions about it. It is now at a point where it might have a successful BO.

 

[Frederick Foresight]

Your chartless system aka “the secret sauce” as of now should work better when more people know about it...Just think...sharing = more $$$ for thee.

Then why aren't all the successful non-vendor traders, trading firms and hedge funds sharing the specifics of their methods? You know, according to you, for their own benefit?

 

[volpri]

Then why aren't all the successful non-vendor traders, trading firms and hedge funds sharing the specifics of their methods? You know, according to you, for their own benefit?

Because they are scared as a cat with a long tail in a room full of rocking chairs.

Second, they think they got a secret sauce and a lock on the markets.

 

[Laissez Faire]

Are there any major trading firms which endorses the material of Al Brooks?

 

[Laissez Faire]

Because they are scared as a cat with a long tail in a room full of rocking chairs.

Second, they think they got a secret sauce and a lock on the markets.

Actually, there are some which do. Check out this book.

The thing is if you discover or create a really, really good system, you don't have time or interest to be a vendor, run chat rooms or webinars to share with the general public. You want to maximize what you got by extracting profits from the markets.

 

[speedo]

I have rather strong emotions regarding Brook's style.
I'll tell why....
I use no indicators, no lines, no charting software on my HDD any longer, I use freely available data on internet, I don't plot anything on any charts, charts are a minor part of how I trade- I basically only glance at them quickly.
I watch the market through the day ONLY because I'm at home with nothing better to do.
I could travel and trade no problem. So what I'm trying to say, trading need not be time consuming.
I support myself and my wife who doesn't work paid employment, plus save money, plus donate rather decent amounts of $ to my grown kids.
I live a good lifestyle and drive a gas guzzling vehicle.
REALLY some people over complicate how they do things.

Mickey, you seem to be pretty knowledgeable on the subject of Brooks. Maybe you can summarize in a sentence or two exactly what Brooks "style" is for the uninformed. Maybe Freddie can help as he likes to type.

 

[tiddlywinks]

Actually, there are some which do. Check out this book.

The thing is if you discover or create a really, really good system, you don't have time or interest to be a vendor, run chat rooms or webinars to share with the general public. You want to maximize what you got by extracting profits from the markets.

That is true, to an extent. And the extent will be different for each person.

Trading is like most other "jobs"... Your income is directly attributable to what you, one person, can achieve (like in sales), or what you, one person, is "paid" for doing a "job". When you, one person, can no longer perform, whether temporarily or permanently, the income stops. Just like most other "jobs".

This creates a fork in the road with three paths (at minimum)...

• When trading is no longer possible or viable, regardless of reason, trading income ends. This is the path many/most people with "jobs" will take.
  
• Create trading income where the amount of income itself becomes a "legacy" of sorts. (I think this is the option you presented).
  
• Promote or teach skills and knowledge to create a trading (income) "legacy". To/for family only, to/for the public, or to/for both. It can be a combination of a business decision and a succession decision, as appropriate.

Carry On!