Al Brooks method

Discussion in 'Technical Analysis' started by Dinosaur_Supervisor, Jan 2, 2016.

  1. destriero

    destriero

     
    #151     Apr 30, 2023
  2. Dollardogs

    Dollardogs

    I've read two of his books. Although they're repetitive and not super well-written, I've gotten a lot out of them nonetheless as far as how to quickly identify trends vs ranges. He's also got a bluntness to him that broke me of a couple stupid habits I had early on. His "Reading"book is really the only one you need to read IMO.
     
    #152     May 13, 2023
  3. expiated

    expiated

    I've posted a number of entries on Al Brooks, which I would summarize by saying that Al expresses a number of opinions with which I agree, but he never gets specific enough to say much of any practical value (though I admit I've never read his books carefully and only skimmed through his writings, which I found online AFTER having developed my own profitable system of trading Forex).

    Recently, I skimmed through a couple of books I checked out from my local library just for fun, and in my opinion, they were much more practical than the stuff Al's written because they provided actual examples of trade strategies traders could try out, explaining them step by step and including illustrations/examples of when they worked and when they did not.

    I'm pretty much in Al's camp when it comes to believing in not putting a whole lot of faith in indicators, except when it comes to moving averages and moving average envelopes, of which I am a BIG fan!

    OANDA - MetaTrader.png
     
    Last edited: May 13, 2023
    #153     May 13, 2023
  4. Perhaps not unlike an amusement park fortune teller?
     
    #154     May 16, 2023
  5. SunTrader

    SunTrader

    Would that be an average fortune teller or an average fortune teller wrapped in a envelope? ;)
     
    #155     May 16, 2023
  6. Dollardogs

    Dollardogs

    Interesting, I would've said he gets too specific sometimes, he really loves his own quirky terminology. As for MAs, I've heard him say a few times the only MA he allows on his chart is the 20EMA, and I've come around to that as well, great for identifying PBs on all day trends.
     
    #156     May 16, 2023
  7. speedo

    speedo

    Al's critics by and large know little to nothing of his work so take the criticism for what it's worth. The title of this thread displays little connection as well. Al does not teach a "method", he teaches how to understand price behavior and formation. My study of his work has had a great influence on my own "methods" as we will all trade differently. There is a great deal of content which requires a great deal of study. Most are not interested in that level of commitment.....and most fail as traders. In any event, to each one's own.
     
    #157     May 17, 2023
    macaw likes this.
  8. No need to condescend to those of us who started reading his material and found it wanting (to be much briefer and possibly even coherent, and at the very least written in English that doesn't look like it was translated through a few other languages first).

    I find it interesting that Tom Hougaard, the European trader who wrote Best Loser Wins, has participated in presentations where Brooks was also a speaker. The interesting part is that Hougaard voiced his disregard in a number of his videos of vendors who don't show their performance or their trades in real time. He didn't mention Brooks by name, but I wonder if Al's ears turned red. :D
     
    #158     May 17, 2023
  9. speedo

    speedo

    Al and Hougaard are friends and Tom has expressed his admiration for Al many times but think what you will Fred, matters not to me. I only have concern for negativity causing aspiring traders to avoid his excellent work.
     
    #159     May 17, 2023
  10. THAT is what I found interesting for the reason mentioned above. I can't quite reconcile it on its face.

    I understand your concern. For my part, I think trading is hard enough as it is without an author making it seemingly impenetrable. Einstein reportedly said that the definition of genius is taking the complex and making it simple. By all appearances, Al Brooks took a different approach.
     
    Last edited: May 17, 2023
    #160     May 17, 2023
    MACD likes this.