I did a free trial of his trading room last week. After the trial, there is no way I am going to join the room. The end of day analysis he posts in his website "after the fact" is magically made to look a little more crisper in the analysis compared to what he mentions "live". There is a subtle difference. Listening live to his commentary astonished me because of how vague he is. Comments like "you can buy here but better to wait for the pullback" was the norm. And, if the pull back does occur, "I don't like the way the signal bar looks but you can buy it here". And trades that he passed because the signal bar didn't look right often would have been the best trades! Another thing noted is that the direction of the market he reads on the 5 min chart was wrong so often that it wasn't funny. But then his commentary of" it can do this but it can also do that" covers up that shortcoming to his followers. I have Al's original book. In the book, the analysis is sharp as a Formula 1 driver. Precise entries, wonderful analysis of various markets, and aggressive entries off of support and resistance too. Of course this is after the fact analysis. There is some good information in the book. His live commentaries, however, made me feel like I was in a demolition car. Not sure which direction the car was going at all. Are there traders who can make good use of Al's books? Sure. Can they trade like it says in the book? Perhaps. Can Al trade like he writes in his own book? I really doubt it.
I've been saying all along that Al Brooks was a big fat joke and his star student NoDoji evidently blew up..... You should post your experience here: http://www.elitetrader.com/vb/showt...8&perpage=6&highlight=al brooks&pagenumber=60
psychology is for loser anyway. lets say somebody write a book the psychology of winning the lottery. psychology doesnt matter, lottery is negative sum. thats why the psychology of trading is bs, because first thing u need is a postive sum edge . no matter psychology, if youyr edge is not profitable u lose. or psychology of beating the casino. psychology != profitable edge
Blowingup's Likely portfolio: Short GOOG on IPO Short Dow 5,000, 10,000, 11,000, 11,001, etc.... Short AAPL at 40, 50, 60, 100, 300, etc... Short housing market year 1999, 2001, 2002, etc.. Short Earth every day.... Note: He likely says we are now on a MASSIVE SELL SIGNAL on the dollar and probably loves gold, oil, and is buying gold coins every day for the next few years!!!!! To be wrong 100% is a great signal. so thanks
I believe Blowingup was posting pictures of Caption Obvious when harping on his bullish opinion of gold. Maybe "the obvious" is not so obvious after all!