In my opinion. You are missing the set ups and making this harder than it is.
Tribute to Brooks
- Thread starter padutrader
- Start date
In my opinion. You are missing the set ups and making this harder than it is.
no problem we all have our prefernces
brooks does say you should start with bar counting H2/L2 trades
i respect your opinion.
but let us see
i am trading from tomorrow ....doing exactly what he says.
will post here the trades if i have time but i will post my statement summary definitely at end of trading
You should post your understanding of "exactly" what he says so others can judge whether you are trading "exactly" as he says. Maybe you are trading exactly as you think he says. Which may be different from exactly what he says.
Good Luck to you!
How long were you a tribal member?
Don’t you think it is a little impossible to annotate charts with info before the chart has been drawn? How can anyone show you anything on a chart that is non-existent? If a trader cannot grasp Brooks concepts on a static chart and practice them over and over to become proficient with trading the techniques then watching him on some video trading the concepts live is certainly not going to help them learn to trade.
As far as I know Brooks has only made one or two videos trading live and all he caught was grief and criticism when someone posted one of them on ET. I think one of them was trading a 15 sec chart?
Look I have been at this trading business long enough that I can say that, at least from my experience, that I know of no other trader/educator that puts out the kind of useful information for trading that Brooks does. The problem with people is they toy with it for a years or two….can’t learn it much less practice it , throw their hands up in exasperation and declare it a fraud.
If folks won’t put in the time and work they will not learn it, nor will they ever be able to trade it.
We are talking 4 books (three good size) and hours and hours of videos. A body is simply not going to learn and practice ALL that is therein enough to successfully trade it live in 2 or 3 years. Five years is min if extremely smart. I started about 10 or 11 years ago and still learning how to apply some of the concepts. It takes a total paradigm shift to get proficient.
And there will always be some folks that no matter how much they study or practice they will never make it work for them. Either they have discipline or psychological issues or his trading methods just aren’t compatible with their personality and trading preferences.
I hope you find something that works good for you.
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Lol you’re posting things from random websites used by retail traders. Why don’t you talk to real traders and fund managers across different strategies and then get back to me. A thesis is the rationale behind a trade, it doesn’t need to be some type of formal write up in the manner those sites post.
I’m not here to raise capital lol.
Going back to why your post with a chart is not evidence — you posted one chart that you marked up. That is not evidence that Al brooks’ pa theory works. I’m not sure if you ever took econometrics and a theory of knowledge course, but evidence would be to prove that the claims brooks makes are factual.
As it stands my contention is that:
- What Brooks describes as market structure is untrue — not every tick is intentional, and you cannot service intention from the chart (e.g. “bulls are holding at XX” is nonsense)
- Price action itself is a vague term, but more importantly, price action is not sufficient to build an expectation of subsequent returns (e.g. a 20% decline in the stock doesn’t tell you if the stock is going to go down more or bounce back up subsequently; more context is needed)
- Candle formations cannot be used to anticipate future returns, because price itself moves randomly between informational events or informed trading
Furthermore, Brooks also misunderstands real market phenomena like momentum and reversals.
ok so DO NOT USE HIM.
I HAVE USED HIM FOR 15 YEARS AND I WILL USE HIM FOR ANOTHER 15
just because 1000 idiots say he is a fraud i will not change.
just because i lose money i will not change
do not try to convince me to use your brownian SHIT motion theory.