You often seem unable to provide a rational response when confronted with common sense or facts. Regardless, my reply was to Frederick and just a general comment confirming what he said. No need to take it personally or get defensive. If Al and his students are crushing it day trading ES, then good for them! I do agree that ET peaked years ago.
I want to respect Al, but the dude has no track record of trading for a living. I get he has extensive and detailed services with his books and courses, but is there any single shred of evidence the dude trades for a living (makes the bulk of his income from trading, or at the very least a large part of his income) / that he even is / was at one point a consistently profitable trader? It's hard to put your money and faith into a lot these teachers and vendors because of these incomplete factors. I don't dispute the fact that you can teach people to trade but not really be a good trader yourself, but this honestly, should be a rarity. Or, that you're a good trader, but like to teach more. But if this is the case, I don't see why you can't simply prove your expertise with some publicized legitimate audits if you're that good of a trader. It begs the question if some of his overly detailed work is overly detailed to make it seem like he's some market wizard or something so he can sell himself more effectively. IDK.
Why do you care, though? You don't seem interested in learning from him, so you're faced with arguing with the believers or getting agreement with the disbelievers.
It's a discussion board. I'm discussing. I'm also a skeptic. And so I'm...skepting? Anyway, I really didn't mean to rile speedo, who I think is a good guy. (Al, is that you? ) I didn't think my last few posts were inflammatory.
Another brief Brooks video: I like that he considers his approach to have a ~60% success rate, and is not one of those guys who claims or promises a much higher hit rate. But on the downside, he refers to profit targets in connection with his decision to take a trade. Here we part company, because I think profit targeting is akin to fortunetelling. Finding a good low-risk entry point is a far cry from assuming duration or distance of subsequent price movement. And, as it happens, his buddy, Tom Hougaard, also doesn't buy into the profit target premise.
Another way to think about those profit targets (trader's equation) is with assigning context. Let's just assume one is scalping; if it's a range day and you're expecting a second leg on a strong move but the 1:1 on a stop entry falls far from the extreme of the first leg it might not be the best idea to take that trade in that direction. Range days are forgiving but they're also good at trapping. Good trend stop entries tend to be bad range stop entries.
Hello Laissez Faire, There are two types of traders for Day trading the ES Futures: Day Trader A: This trader wants someone to teach him/her how to make money year to year for an income for the next 30 years trading the ES futures market, and trading up to 100ES contracts. The trader wants the teacher to have qualified experienced trading up to 100ES and proof of records Before they invest their time, effort, capital and energy in the teacher teachings. Day Trader B: This trader wants to learn how to trade price action so they can eventually make money year to year for an income for the next 30 years trading the ES futures market, and trading up to 100ES contracts. Using their own strategy they create. Day Trader A will not like Al Brooks and complain. Day Trader B will like Al Brooks. Day trader A will NEVER in a million years find a teacher and will be poor and never make a million dollars trading the ES futures market. Day Trader B might make it. I will be the only trader on ET forum ever to ever trade 100 ES contracts by the end of the year and prove it to everyone. ET forum been here since 1997 and noone ever prove they can trade 100 ES contract. I will be first. Stay Tuned my friend.
Good Morning themickey, No, I am not him, but I know him personally. He is a good man and friend. He gave up on trading.