But that is true of every strategy out there. How does Brooks moving average or oscillator strategies
that is my responsibility. it does not reflect upon his teaching. i know it .i do not blame the tools of the trade
yes Brooks is not someone special...he has copied and pasted... but his book is complete description of technical analysis ,found in one place,and so i have referred only to it. he does have a few unique ways of looking at things. he also says that the old things still work....trend lines wedges...pull backs.....he does not say he has re invented the wheel. the only thing one can fault him with is why he wrote the damn book when there was no need to.....but that is the case with most books out there. technical analysis is well established
he does use a 20 ema .... but not in the usual way. he uses price action alone but no harm in using indicators to measure precisely if it helps: an indicator is basically a measurement tool useful for measuring exactly but you can always estimate the same thing in approximation so i do not find any value in exact measurement. i have found indicators woefully inadequate in choppy or very fast markets......but if it works for you.....
Yes, let us be fair. If he sells a service based on what he supposedly does for a living and has a chat room for this very purpose then, yes, he should show his trades. Any one trade may not work out, but he ought to be making money on balance to justify his existence to you. Yet he does not. Rather, he couches his "probability" observations and slips like a salamander on to the next "probability" observation. I could do that all day about shit I know nothing about if I never allowed myself to be pinned down to a specific position. And that is exactly what he does. You're a bit too starry-eyed to appreciate the obvious.
If you want to study and eventually profit from Brooks or anyone else for that matter, you should start by back-testing his methodology and see if it holds up in price history. Do this using a template in Excel and create detailed statistics of his set-ups. That's the only way you can verify if there's any validity in what he teaches. And it's the only way you can build trust in what you do. It's also the fast-track to start learning. Regarding probabilities, I know Al talks about that, but it was also revealed in another thread how Al revealed that his probabilities wasn't based on detailed records, but merely estimations he made up himself from 'experience'.
This, coupled with his unwillingness to actually take or show positions in a fee-based "real time" chat room, speaks volumes.