Al Brooks - Al Crooks, Charlatan

Discussion in 'Educational Resources' started by Q3D, Sep 4, 2015.

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  1. Q3D

    Q3D

    I have come to the conclusion, over several years, that Al Brooks is one of the biggest frauds in the trading industry. Check out his site http://www.brookspriceaction.com , he has no profitable students, doesn't care about that, and is clearly just looking for money.

    Brooks claims the measured move is his discovery, he claims, three-push patterns, wedges, triangles, etc are his, none of these are his discoveries.

    The biggest fallacy Brooks commits is the subliminal trick he uses to pitch his products, which is that if you label certain candlestick patterns in a logical manner that it is understandable and can be traded for profit. If I watched Brownian motion long enough I could come up with logical names for certain patterns I occasionally see, but what predictive value would that have, in a random system, in determining when and at what probability that behavior will transition to another predictable outcome?
     
  2. jsp326

    jsp326

    I've never bought any of his stuff, but this doesn't surprise me. Ditto for the pure price action "gurus" on various forums, including here. None of them can produce statistically-significant evidence of their profitability.
     
  3. JTrades

    JTrades

    You're equating Brownian motion with the financial markets, which isn't right.
     
  4. And here we go again. You guys of this type really tell on yourselves by making topics of this type. There's no reason why someone who has a sound plan for making money and is profitable will attack so vigorously someone who shares their methods. Such behavior indicates that you are pissed off because you were looking for something in that person's work and didn't find it.
     
  5. Q3D

    Q3D

    Actually, Al Brooks made the analogy in an interview on Youtube.
     
  6. Q3D

    Q3D

    Al Brooks doesn't share his methods freely. He sells his methods, based on ideas which are not originally his, yet he claims they are. And Brooks does not take trades according to the methods he sells.
     
  7. JTrades

    JTrades

    My issue was you equated the market with a random system, implying the market is completely random.

    If that is the case, then Al Brooks is a fraudster and we should all quit today.
     
  8. SteveH

    SteveH

    If I were Al Brooks, I wouldn't have thrown away my career as an ophthalmologist to bet on the near-future directions of a price chart. That's got to be one of the worst "trades" I've ever seen.
     
    Chubbly and blakpacman like this.
  9. Q3D

    Q3D

    No. At Brownian motion is motion at the lowest observable level. The markets, at the lowest observable levels, are a stochastic process. Sometimes applying logical labels to such randomness can give overconfidence and make a trader less successful.
     
    marketsurfer likes this.
  10. Redneck

    Redneck

    Agreed

    There are burgers to cook / beer to drink / Family and fun to enjoy

    Happy weekend All!!!!

    RN
     
    #10     Sep 4, 2015
    JTrades likes this.
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