my friend said al brooks is a joke in that he calls out trades after they are already in the money. is my friend correct?
Al says he can not call out trades before they happen. But he does point out what trades he has taken after the fact. Even trades where he admits he got out too early. And trades that he didn't take but wished he had taken. He's humble about it. So, actually your friend is wrong. He does not call out trades after they are in the money.
Genius you just contradicted yourself. Or the conclusion of your premises is that his trades are 50/50 winners and losers, not just always in the money...
jem ... being born and raised (and probably going to die) in NYC has not made me the most trusting person. I think Al is a completely straight guy with no agenda to deceive. The purpose of Al's room is educational not as a place to follow calls. If someone is seeking to learn the nuances and fine points of Al's methodology the room makes a great deal of sense. I am there from the open till his end of day and Q&A are complete. I consider it valuable. In fact I consider the $100 monthly to be a fraction of what it is worth. Try a month for $100. Consider it an option play. You risk is both small and clearly defined yet your upside is quite substantial. But do not try to trade off what he says. You can only learn ... not trade.
In a famous quote in his book he says something like: Even making 1 point in ES per day with 100 contracts would net you 7 figures a year. Is he making 7 figures a year averaging 1 ES point per day or more?. YES or NO That should tell everything about Al Brooks that anyone could possibly want to know about Al Brooks or any other of these vendor/trader types. Everything else is just BS and excuses. Can he even make ONE TENTH of that?. If the answer is NO then he shouldn't be "teaching", and you shouldn't be buying education from him.
I have just read this thread. As startraitor pointed out, the claim that he can not call trades legally is TOTAL BS! What do you guys think C2 does? They publish trades. Not by CTA, but anyone who thinks they are a vendor. For 7 or so years now, and they are protected by free speech. It is up to the subscribers how they use that info. C2 would have been sued into oblivion had this free speech protection not existed. You can bet more than a few hundred accounts got blown there. The only thing a trading room runner can not do is to give personal advice. He can not say: "Go long here, or short this". As long as he just describes what he does and says: "I am going long here," he is perfectly fine. Personally I don't think $100 is a lot per month. Generally I would expect a trading room to make my subscription fee back by calling live trades. It is just my personal preference, I know education is also involved...
He has "friends" who make more than a million a year. For Pekelo, his room is not a call room. I believe he wants to teach you how to fish if you know what I mean. If someone keeps pointing out the setups to you, you will never learn how to spot them by yourself.
IF that is the case (BIG IF ), then purchasing education from his "friends" would be a much better choice than purchasing from Al.
I understand. But if there is absolutely no data feedback (either trades he took or statisfied costumers who are making money AFTER leaving his room) how do we know just how successful he (I mean his teaching) is? To me the biggest success would be a word-of-mouth feedback by ex-trainees who are making decent profits and recommending the course. Where are they?
If one cannot make AT LEAST one point per day over the long haul in the ES, then one needs to go back to the drawing board.