Try announcing that Al Brooks is here and is ready to start a family with her.... that might work.... As of January 24, 2013 she wanted to have his baby! :eek: Here are her exact words:
Paul Rotter doesn't trade the ES, the EURO is much slower and predictable compared to the ES. Brooks hasn't suggested changing timeframes with the extreme rise of HFT and algorithms. "However, as Paul explains in this exclusive interview with MahiFX, he no longer does scalping reflecting the way the markets have evolved. His style is now more focused on longer-term trading strategies. He currently lives in Singapore and runs his own fund management company Rotter Invest."
I never traded ES, but traded NQ after giving up on stocks. I moved to FX to trade smaller after previous courses by the others failed to make me successful(the expensive ones I mentioned...I discovered Brooks through Futures mag, now Modern Trader). I had my first profitable year last year trading only the EURUSD (after two failed years) after reading the first book by Brooks. I made 22%, but was trading daily and weekly frames. This year is my first year trading his methods in a DT fashion...a couple tens to maybe 60 or 70 trades a week (counting scaled entries and exits). I'm down 3% on the year, however, I'm teaching myself to be a good loser. I'm only down because I still occasionally violate my size rules, not my stop rules. I've proven to myself, through Brooks' education, that I can make money when I have more losses than wins...and yes, that means getting stopped out of winners some times. I just go back in if the pattern still looks good. I find Brooks explanation of the markets to be a different view of what has always existed. Nothing more, nothing less, but perhaps more detailed. I do not consider him a crook, and I don't blame him for not telling us his P & L. Every single time I've had a good run, and told someone about it, I've had a losing streak...every single time. I no longer discuss my P & L, so don't ask. I'll probably pay a price just for mentioning last year, but I think I had no choice since I credit the changes I made based on his approach to price action. Exactly why are you so critical of Brooks? Are you getting stopped out too much?
Maybe he suffered from near-sightedness. Some people can't stay away from the market. Call it obsession or addiction.
Just watched part of an Al Brooks video on youtube where he talks about how he lost money for 10 years before he became profitable. Then goes on to say it took so long not because he wasn't smart enough, but because he was too smart. What??? That makes no sense. It's like saying you bombed the SAT because you were too smart. "Yeah, MIT wouldn't accept me because I'm too smart." LOL! Seems like delusional thinking. Other highlights included: "I see 40-50 trades a day on the 5-minute chart, they're just all over the place" "Most traders at Goldman Sachs have no clue what I'm talking about. But it's real, it's very real" Then goes on to point out some hindsight trades saying you could just buy here with a 4 point target and go out and take a walk. Yeah sure.... and do it on 100 lots and make 20k, right? LOL..... And of course no one at Goldman has a clue what he's talking about..... they aren't trying to daytrade eminis. And 50 trades a day, yea right that's a brokers dream come true. Sorry but I can't believe this guy makes a living trading. But I don't know if he's a cynical con-man like some other vendors.... he sounds like a true believer in what he teaches.
Aside from everything else here about Brooks - the above is actually a well known thing. Those who are usually smarter/sharper tend to overthink trades or be consistently too early to the party (raises hand).
$30k, whilst not peanuts to you or the fast food workers of California, it is peanuts in the world of money management. If no one knows the average 5 min pa trader's return, then how can you say it's lower than what brooks would have me believe? And why have you upped it from 500k to 600k? There are traders here who make $50k-100k on one contract...average 5 contracts , there's your half a mil