yes because they just wont get in like brooks says right after a ma cross look at this trade right now from a simple ma cross
you two lovebirds should get a room already there’s nothing more annoying than seeing two people happily in love
I see a lot of different opinions here. It is obvious that many of the negative points of view come from system traders, so they are asking system-type questions and expecting system-type answers. I spent probably a year and a half in Al's trading room. He is not a systems trader. He is definitely a rules-based discretionary trader. Yes, he does talk about stop losses and profit targets. He often makes target projections in real time based on measured moves. Measured move projections are, in my opinion, more art than science. He also talks a lot about probability, and the inverse relationship between probability and risk: a low risk trade has a lower probability of success. The further the stop, with appropriate money management, the greater the likelihood of avoiding a premature stop out and having a successful trade. He uses his own definitions for price action, but once you understand what he calls a wedge or a double bottom, you can see that is because patterns are rarely perfect, so while his wedge may not look like a wedge, it behaves like a wedge, and it works for him. One of the things that helped me most was his discussions of the different market types and how to trade them. He talks a lot about the market cycles on an intraday basis. About the only indicators he uses are the 5 minute and 60 minute 20 bar EMA's, another concept which is foreign to many algo traders. He is strictly a price action, rules based, visual discretionary trader, so unless you are able to approach the markets from that perspective, it is likely that you would not benefit much from his trading room or courses. As for me, I decided that discretionary trading is not my thing. I decided to take what I learned from AL and try to adapt it to algo trading. What I came to realize is that since what Al does is visual it is relatively easy for the human mind to see, but it is very hard to teach to a computer. There is just too much human interpretation involved. I am now trying to use various indicators to approximate his steps. Some of the attempts have been successful, and some are still works in progress. I have been able to directly apply some of the price action concepts into algorithms. The beauty of trading is that it is like the practice of medicine. Each successful trader finds his/her own specialty, and then sees the world through the eyes of their set of notions, prejudices, and experiences. Not one is any better than the other, as long as it works for the practitioner. Al does things the way he has learned over his 30 years of experience. It works for him, and if you have the right personality, you might learn a great deal from him, as I did. But if you look at the world from a different perspective, as Al would say, as long as it works for you and you are having fun, then you have found what matters in your own trading career. It is hard to succeed in trading. Anyone who has found success, regardless of the approach, deserves respect. We, as traders, should recognize this, and treat each other with the dignity and honor they deserve.