I think you and I have also influenced lots of traders on here with out posts... should we write a book?? LOL I would tell @speedo to fuck the "influence" stage and go right to the "show me how you trade" stage. I seriously would love to kidnap one of these motherfuckers who wants to teach, strap them down to a chair, and make them tell me exactly what I need to do so I could put on trades like them. They won't be allowed to leave until I am at least 2 weeks profitable. I bet that if they had to exchange their freedom for divulging all the knowledge, they could share it all in a week. We could spend the first day setting up all the software that they use and getting every monitor just right. Then the next day they can start calling out trades and I can grill them on exactly what makes them make that call. If something looked like a sell to me but they said to buy, I could interrogate them about what they saw that makes them make the call. It would only take a few days to learn their trade management structure, and I could also see in just the first week how they handle losses and what they do after a strings of wins or losses. In the end, I'm sure there will be an element of simply having thousands of hours of just staring at the charts, but if given the opportunity to have a pro trader at your disposal for 2 weeks who would have to share everything they know, the learning curve would be cut by 90%. Now do I expect someone to write this all in a book? Of course not.... but if someone really wanted to teach, vs. make money from selling a book, discussing exactly what they do would be an excellent first step that would put the trader on the right path from day one, if the educator of course was many money themselves vs. being just another hack.
Its not that hard to trade. The hard part is patience, consistency, execution, and understanding what a real system actually does. For example, not even the best trader in the world is going to be profitable every day. However, he or she will be profitable for the year. My best Forex system which was in the top 10 on C2 had actual red months where I lost money, but it is better than 9,000 other systems. I would have 3 months in a row all positive, get a new subscriber, have either a losing trade or losing month, and he would leave the system and go find another system to lose his money. Where if he would have just stayed in the long term, he would have made profit like the other subscribers. Also, all of my trades are shown where I got in, where I got out either stopped or target hit.
I don't know the answer, but here is what he did say. https://www.tradingschools.org/reviews/al-brooks-trading/
Yep, thanks. What I meant was; what would Al Brooks say about this thread turning into a chapter from Fifty Shades of Grey or Brown. I'm sure Animal Al's Marketing team are watching this thread. Al might be too. Hi Al.
Funny that review website mentions Brooks writing articles that appeared in the old Futures Magazine. I was a subscriber forever. I would clip out articles I liked and keep them, to this day, in a file folder about 4 inches thick. For whatever reason (probably an obvious one) I saved none of his. Whatever he wrote didn't stick with me at all.
So that's one of the first issues about Brooks writing. He's frequently describing what's going on as a fight between "the bulls" and "the bears", or similar. That means he has no clue about the big actors in the market whose decisions are impacting prices. Statistical abstractions are a substitute of course but he does nothing involving statistics, just very weak general statements (and hindsight analysis). Beating a dead horse here, but the idea that one could generate alpha beating the top hedgefunds in incredibly competitive mainstream markets, using uncontextualized price, without being first to trade (HFT), is patently ridiculous but seductively persuasive.
That's good that it is eventually explained somewhere in a book somewhere. But your own explanation hasn't explained it, and I never got an explanation during all of the free YouTube talks he has given (even though he uses that phrase a lot, and even though I listened alot). I think this might suggest there is a very deliberate drive to hook listeners into a book sale. All I can say is after spending quite a bit of time listening to all the free info, I came away feeling very annoyed . Others in this thread seem to feel the same. I was so annoyed that I finally sat down and synthesized my own method to look at straight up price action. I really can only thank Brooks for annoying me so much. So much that if I met him, I would not tell him what I do instead.
I don't know why I should explain it here, when that topic comprises about half of that chapter. I now understand that I am arguing with people who don't read books. Another guy claimed that he reads Buffett's books (The number of books written by Buffett is zero). No point in arguing with people who discredit the author without reading his books. You further claim Brooks is pushing to increase his book sale. Actually in one of his videos he said that he does not care for the book sale because he makes very less from it. If anyone attempted writing books they would know the economics behind it. On the other hand, even if Brooks is trying to push for his book sale, I don't find fault with it. Why do you think authors visit Barnes and Noble book stores to sign copies of their books and interact with readers? If you don't find fault with such authors, then, what is wrong with Brooks using youtube to promote his books?
Yep, some of the comments on here prove that some of the "Haters" haven't even read one of his Books.
As my old buddy Lao Tzu used to say with much fondness: Those who know do not speak. Those who speak do not know. 1) Everyone should just accept the fact that successful traders will not reveal their edge. Those who openly reveal their secrets, as stated in the Lao Tzu's quote above, should not be trusted. 2) So you're left with the second- or lower-tier traders/gurus, who might be successful in their own right, just not as successful as the first-tier traders. Now what criteria will you then use to make your selection? As for me, I would rather go with someone like Brooks (his books in particular over his premium contents), who goads you to think for yourself rather than some Lambo Guru who promises to teach everything he knows in one week for only $10K (or whatever). I don't care if he's able to provide an audited statements or even show you his trades in real time, unless you have a very strong foundation, you'll be merely wasting your money.