not to be too negative I do have a book in my laptop bag that I bought way back when I started out. It has 70 pages of which most are rubbish but it has 4 pages that are worth lots of $$$$ to any trader but only if the trader understands what he must do and then actually does it. I keep it in my bag to remind me of what I must do as I am bit forgetful
If the book doesn't explain what to do is it useful? Here some excerpt from Amazon.com reviews, hilarious: "He trades strictly price action, no indicators, which is the only true path to trading success. This style of trading goes all the way back to the greats like Jesse Livermore." "The best book on trading I have read so far. Rather than a book however, it is more like a text book. You can spend an hour on 3 pages and still need to read it over again. " LOL, more like because the pages were badly written "He introduces and uses a vocabulary not used elsewhere, basically because he has a unique view on the market. Do a search on "EMA gap bar", or "Final Failed Flag", or "M2S second entry" on google and you will find no one else, yet they are such important concepts." Typical guru-style. Take common concepts and make them more complicated, then package them for selling and make $$$.
I've read about 100 pages of his book and I can't decide whether he is a salesman or real trader. He seems knowledgeable about the market (real trader-like too), but there are some areas that make me suspicious. His type of trading is a brokers dream... commissions, commissions, commissions. You will be stopped out so many times with such a tight stop (last candlestick low). First, as much as he thinks he knows about large institutions, they don't watch candlestick patterns as much as VWAP. He thinks that all prices are relevant and noise does not exist... I disagree. A fund can sell middle of the day and take out your little candlestick. Secondly, this guy gets in on stop orders, meaning he gives up several cents to get in. As a day trader, this seems ridiculous. Every penny counts and I rather anticipate something before a move, rather than getting in at a confirmation point. Thirdly, he barely mentions news or other economic events (econ data releases), and assumes you can read them just from price action... this is false. With his style, you will get stopped out on a tail or miss a good trade. Fourth, his description of trend lines gets too absurd. He draws them on 3 candlesticks sometimes and labels them short-term trends... is that a joke? Although I'm suspicious, its still better than most other trading books out there. Get it online though instead of paying 50 bucks for it.
Being suspicious is always a good thing. Doubting people, even family can be sometimes better than blindly trusting them. I love the fact how some subscribers always idolize the guru. Even with emini-addict, which has the lowest subscription rate i know of, this subscriber is in awe that he learned to scale-out. "I exited at xxx, then my stop went to break-even, and was able to take more out the market, and my psychology improved so much! Thank you so much!!" You can teach free stuff and have people idolizing you. Incredible!
For someone who says he is a hermit and barely comes out of his house, Al sure has changed. First the articles in FuturesMag, then the webinars. Then he puts out a book. And now the website where he intends to charge for hindsight charts.
You can be a hermit and still have an online presence, its not contradictory As for the site, he has stopped updating it saying its distracting. First people complain that there are not enough good trading books and finally when there is one, they start nitpicking about nothing.
Dog ... His life, his business. I assume he would like to make some money. Chances are as a first time author with a minimum press run his deal with Wiley might buy him a week or two in the Caribbean this winter but not much more. I have said it before, I wish he had written the book in English. That said his book has clarified a few very important concepts for me and has already put $$$ in my pocket. Not very many books that I can say that about.
IanMacQuaide, you have been pimping Al Brook's book since it came out...some might speculate that you have some sort of vested interest in its success. You should try to encourage his publisher to get him an editor, work with him on writing skills, and republish the book in a second edition. Because, in its current state, it is worthless. All the best. PS - for your reference, here are my original comments on his book (which appear on page five of this thread): I am not saying the content of this book is bad, but I am saying the writing is terrible. Al uses 30 words when only 5 are called for, and it needs to be organized in a more coherent manner. He talks about stuff in early chapters that he doesn't explain until later chapters, and it takes a lot of work to figure out WTF. You would think his publisher would have paired him with a capable editor, but it appears not. You need to spend a lot of time with this book, but not because it is complex or "for seasoned traders"....because it is convoluted and you have to work to figure out the point he is trying to make.