I was not aware that you used Al's principles. In the past you said that you knew him but not his methods. So this is new. Since you say you benefited from his videos, could you please provide an example or two of something you learned in those videos that you did not already know?
I've signed up with Al Brook's Price Action course
- Thread starter TimtheEnchanter
- Start date
ROFLMAO I won’t bite. I have no trading secrets. I will discuss anything about how I trade. Thats it.I don't think you were the subject of this discussion either.
But I'll bite if you have no secrets. How many ES points do you typically capture on a daily/weekly basis? Yearly % return on capital?
If you don't want to answer - that's fine too.
https://www.elitetrader.com/et/threads/whats-a-worthwhile-daily-take-on-the-e-mini-s-p-500.345679/
I know I was not the point of discussion. I was trying to use myself as an example for explanation purposes. I know very well the discussion is about Al Brooks and his course..books...and him charging for them but it has slipped over the cliff into proving this and proving that before buying anything that has to do with Brooks. That is a dead end alley and a useless street to walk. I don’t believe he will ever give any proofs of his trading profits. And I doubt I ever will too. Years ago I did to some friends but it did no good. They actually tried the methodology I was using way back then and right off the bat were making money but decided it was too time intensive and went to Mutual fund investing..lost a lot In mutual funds and last time I talked to them a few years back he said “I am finished with the markets”
Brooks is selling something and claiming to be profitable.
And that is the subject of this thread.
There is an endless stream on vendors making all manner of claims that, collectively, would potentially take years to study and learn. This is especially the case with Brooks and his penchant for hieroglyphics. So how to cull the herd of vendors to arrive at a reasonable subset from which to consider?
And that is exactly the correct attitude. What are they prattling on about? $349?
Most people "lose" that amount on spoiled food, lousy entertainment, and plain ol foolish spending. The corner Chevron sells gas for 3.75 a gallon. The Arco on the other side of the street sells for 3.35. Break out the Chevron credit card. Talk about stupidity, even if you pay it off at month end!!
So to the those that require "proof" over peer recommendation, good luck. I hope you find one nugget, just one, whatever it may be, that makes sense to you and that you can apply consistently for the remainder of your trading days.
Although I am a Jack Hershey disciple, I have read 2 Brooks books....
1) Reading Price Charts Bar-by-Bar
2) Trading Price Action Reversals
There are some similarities with Hershey.
It is up to you to prove it. I have already proven it to myself.
Yes, they are numerous but here are several. I was not aware of the power of a three push wedge to identify tops and bottoms. I learned different ways to establish measured move targets beyond the standard AB=CD and fib extension targets. The material was also helpful in determining the difference between trend continuation and exhaustion impulse. My trade plan is different from Al's and anybody else's. It is of no interest to me how much money he does or doesn't make or anybody else for that matter. I credit the ideas of his as well as Halsey, Taylor, Cooper, Rashke and others along with substantial work on my own part to transition from a scalping methodology to a more profitable and less stressful intraday swing style.
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BTW, I was content with the scalping until I saw guys making 30-100 point intraday ES swings in the recent volatility. That triggered the thought that there were more efficient ways to trade and that lead me to the study of Brooks and Halsey and couldn't be more pleased that I did.
Well there are enough free videos of his on you tube. Any trader that wants to, and is not too lazy, can study them, test the ideas they put forth, and then make a decision if Brooks is worthy to receive their money.
What are you saying Freddy the man should go to all the work making videos and writing books then just give it all away or make some money back guarantee? I know (If I remember correctly) he used to give you 30 days to try his course and if you didn’t like it he would refund your purchase. I don’t know if he still does that.
As far as culling out vendors maybe the best way is to ask those that have really and truly taken the time to go through a venders materials and practice it. And not listen to those who did a cursory read and decided it is garbage or they saw no proof. Emmett wants to see proof or you will likely get a bad review, from what I have seen from his site. Well that is his problem and the problem of people who listen to Emmetts opinions. Right? How thorough of a job did he do going through Al’s materials? Did he practice them if on nothing else a SIM. For some reason I kind of doubt it. Emmett might as well resign himself to the matter. Al Brooks is probably NEVER gonna give him one iota of proof, of anything. If Emmett wants some he is gonna have to work for it himself. LOL
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Bar counting works very well in SPBT’s
You know when you consider it. I know people that are great communicators and can teach sound concepts and ideas in other fields besides trading. But they can’t perform. They cannot do it themselves. They cannot walk the talk. Nothing wrong with the ideas. The problem is either psychological or an unwillingness to take the risks and or make the sacrifices required to make it work for themselves. Ideas and concepts are one thing. Performance is another.
