Your proselytizing of Al Brooks is now nauseating. Give it a fucking rest, and post a live journal for once. Otherwise, have a steaming hearty cup of STFU.
Markets always go up forever and will continue to do so until they reach infinite prices and everyone gets hilariously rich it is IMPOSSIBLE to lose money by buying a dip. This market will NEVER have a significant dip as it is simply MATHEMATICALLY impossible.
don't drink and drive, simultanously, don't drink and trade. But for sure: too early in is better than too early out...
While I have never read any of Al Brooks' books, many traders say they have become profitable trading some form of what Al Brooks taught. The joint probability of all of them lying is essentially zero. I don't see the harm in recommending Al Brooks to a noob. While that type of trading is certainly not the only way to trade, and may not fit the noob's personality, at the very least you are recommending something that actually works, instead of recommending internet snake oil courses.
he is very plain in saying that his books are, for not only a serious trader, but for someone who knows the basics. i had 15 years as a profitable trader positioning trading, seeing the daily charts, but it took me 20 years to figure out what Brooks was saying. now i know he is a genius and probably the only one who knows anything about day trading on a 5 min chart. the problem is his books talk about everything and you have to choose what parts you would to incorporate and so he can and does confuse the hell out of everyone.. it is not easy to understand a genius leave alone apply his techniques. however if you take the risk of considerable pain , like i went through then it is trading nirvana and market fluctuations become ridiculously easy to decipher. You still need considerable trade management skills and emotional stability to make money and that is why it took me so long to figure it out. we have to put in the effort
me too i am now after 20 years thinking like him.it took me 20 years because i am an idiot and others will do it faster. however there are guys who form maybe the majority, who have not still, till now, understood him
The only strategy that you have to aim for is the one that allows you to try again. Which translates to "keep your sizes low" Every single strategy is bound to failure if you run it long enough. If you want to continue in the game make sure that you're able to try again. I blew 80% of the first account I had by oversizing my trades, I guess that counts as a 'hard way'