Tribute to Brooks

Brooks when getting down into it is not at all simple. He approaches it exactly how a doctor would approach it. Overly complicated, "trust me, I'm a doctor" type stuff.

I would suggest if you want to _really_ make money from Brooks, combine just ONE of his reversals with your estimate of a potential support/resistance level and go from there.
 
padutrader said:
what is complicated about selling below a bar closing on it's low or buying one that closes near it's high....

it is your head that complicates.

adding a few filters may improve your win rate
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Also, the amount of jargon that Brooks uses is endemic of the doctor mindset. You can't look at that jargon and tell me that this is simple. It's not. It's meant to confuse and endow a feeling of "oh this guy must be so smart because he uses this jargon" just like... drumroll... doctors.
 
padutrader said:
are you not the fellow that is talking about brooks and suddenly you start talking about me....

you are the one complicating things.....
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You mentioned my win rate, which on good weeks, is around 80% on bad weeks is around 60%. If you are still trading demo, you should not be talking about others' win rates. I get it, you are offended that I am saying your hero isn't really that great.

But objectively, look at the jargon that Brooks uses. DDL, DED, BAAKF, whatever the stupid acronyms he uses. It is meant to pedestalize him as if he has some knowledge of patterns that others don't. He does not otherwise he would not teach. He is pulling the same trick doctors pull. Over jargonize and over prescribe when the real fix is fix your diet and exercise. So it is in trading.
 
padutrader said:
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there are millions of profitable traders using Brooks

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Who and where are they? Is there a study of traders and what methods they use, with a graph denoting which profitable traders used what methods?

You are making a statement that seems bombastic.
 
All that being said, Brooks has some invaluable insights. The ones I use most often:

1. If yesterday was a range day, there is a good chance today is a range day.
2. High or low is usually set early in the session
3. Look at the weekly/monthly charts to get context

Probably a couple of others. I read his weekly comments regularly, so I do believe he has some valuable insights but he isn't any better than (say) David Frost who I think is probably 100x better than Brooks for the simplicity of his analysis.

In fact, I'd wager that Frost creates more profitable traders than Brooks.
 
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