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

[Laissez Faire]

I watched a free video on Sunday. Not bad. As an introduction to price action I'm sure this course is top notch. My skeptical comments from earlier are still valid, though. The general flaw with 'price action' is that it's (very) subjective and open to interpretation. Of course - steps can be taken to reduce that. But there's still a fairly large discretionary element.

I noticed Al would speak about probabilities a lot, though. Does anyone know where he gets his probabilities from? I've never seen any reference to the actual calculations/spreadsheets in any of his material (had his first book).

If someone says, "This generally have an 80 % probability of XYZ outcome..." I would want to know where they get that number from. Is it pulled out of thin air or actually calculated from hard data?

 

[Thor]

Have you heard of luck, coincidence.
Mate there are days I make multiple multiple thousands of dollars a day, but would I tell you about my losing days?

It's hard to explain without giving it away so I'll put it like this.

Today's lottery first prize winning number happens to be the same as my date of birth. No big deal.
But if the lottery second prize winning number also happened to be my son's date of birth.........that's too far to be called coincidence.

There was a S&P newsletter I used to subscribe to years ago. Every day the time of an important high/low would be given. Most of the time he was right.

A few people ARE doing price with time. They will never come into the public eye because they don't give a F who believes and who doesn't.......it's just easier to take the money and not get into debates.

What I've noticed on ET
some say FA is BS
others say TA is BS
others say Astro is BS
Each one makes a sweeping generalization that because he can't make money from it, nobody else in the world can.

All three groups are conveniently avoiding the fact that there are people who are minting money from these methods..........which are BS.

 

[userque]

it's just easier to take the money and not get into debates.

I believe a lot of the naysayers are actually trying to get the other party to reveal as much information as possible about their system.

 

[Overnight]

Have you heard of luck, coincidence.
Mate there are days I make multiple multiple thousands of dollars a day, but would I tell you about my losing days?

I may be out of context on this response since I have not read much of the thread, but my response is...

It would make you hella' transparent. I wish all educators would post their losers as easily as they post the winners.

But I guess honesty does not pay?

 

[themickey]

I believe a lot of the naysayers are actually trying to get the other party to reveal as much information as possible about their system.

Well your comment is maybe not directed at me, but if it were (because I happen to be a naysayer) I can categorically deny that. That's because I have 0% interest in anyone's system other than for the fact I generally attempt to listen to what people are saying out of respect and a open mind.
However I have my own methods, I've been trading and coding for years, nothing I've ever read comes close to how I trade, my methods are far removed from anyone's, so I'm just not interested in changing due to there being no need to.
Why change something which is not broken?

 

[themickey]

I may be out of context on this response since I have not read much of the thread, but my response is...

It would make you hella' transparent. I wish all educators would post their losers as easily as they post the winners.

But I guess honesty does not pay?

Well there's no point.
Either posting winning or losing trades would prove nothing to me.
Mostly a waste of time, mostly it draws in a response which then requires more explaining, and what for?
I gain nothing other than maybe stoking my ego, pfffff!

 

[volpri]

@themickey

supposing you trade the 3 day cycle. It is all on traderslaboratory.

 

[themickey]

@themickey

supposing you trade the 3 day cycle. It is all on traderslaboratory.

I knows nuthin' about 3 day cycle or traderslaboratory, so yeah look at it but it's not me.
My stuff is concocted from backyardlaboratory, like a home built genie, rub it and everything turns to shit.

 

[Frederick Foresight]

I believe a lot of the naysayers are actually trying to get the other party to reveal as much information as possible about their system.

Hardly. I am such a naysayer. Brooks has evidently opened his kimono to the tune of over 2,000 pages and over 98 hours of video. S what is there left to say or ask? It's all out there. Until his next book, of course.


Please be sure to read the highlighted section of my own quoted post:

I bought his first book soon after it came out. It was the first book I ever returned to Amazon. As far as I'm concerned, and quite apart from the horrible writing, it was fraught with hindsight bias. There were charts where he showed "winning" trades that had preceding price action that would have been losing trades by his own standards, had he bothered to point them out (which he did not). The discretionary nature of his trading allowed for a lot of narrative (fallacy). I only read the first hundred or so pages, but that was enough. With my Amazon refund came clarity.

 

[fractalize]

Brooks has evidently opened his kimono to the tune of over 2,000 pages and over 98 hours of video.

I just watched a video of this assclown, after seeing this thread. This is the type of anecdotal shit (floating all over the internet) which is a guaranteed road to failure. It's laughable. If you want to seriously get into trading (and be taken seriously) check out this site. It's a great starting point, and a nice mashup of empirical/quantitative blogs. If you don't understand any of it, find a way to, or find another endeavor.

https://quantocracy.com/