I don't see how there is any NFA rule about calling out trades. Many trading rooms have hosts who are not CFA or don't need certifications in order to call out trades. All they need is that ubiquitous disclaimer on most trading sites. Exactly, seeing his live trading room is almost like a contradiction in too many ways from the books. There could be a pattern from the book showing up, but then it's qualified by whether it's "always in long/short" i.e. bias currently long or short. Or "too many recent bull/bear bars" etc. Most of which is not really incorporated in the books when going through examples of the Brook's "patterns" at least not to the extent of qualifying every concept in the books with those "biases" talked about in the live sessions.
Small traders! Subscribe Al Brooks and go thru the cycle keep reloading and don't give up till u are broke More than 90% of small traders lose! They just lose! http://www.bloomberg.com/news/2012-...-seen-profiting-at-small-firm-expense-1-.html P.S Al Brooks win by cashing in your money. u (small traders) lose by blowing up your account.
Not true. Anybody can say/claim anything they want... even if it's all BS... so long as they are "not holding themselves out to the public as giving investment advice for compensation."
does Al use stop orders? the answer is: No. Because he doesn't trade, he actually isn't using any orders at all. the only orders he makes is when he orders pizza and soda to be delivered during the day while running the chatroom. sorry, couldn't resist! Hahahahahaha!!!! ok, no more Al-bashing from me.
Lets make ET payable too!i`ll be making my bullshit calls for $5 bucks per view!Is there any NFA rules if i call my calls - 'bullshit calls in advance'?
There is no NFA rule or any other law that prevents a retail trader to show his P&L from their personal trading. Enough said.
I can't remember exactly where I saw the interview but I think Brooks once reply to a question with a reference that he was "not" a retail trader. Therefore, is he a CTA or has small fund that he doesn't talk about ? I ask the above question because Brooks also mentions he can "not" risk an NFA audit via any actual publicly discussed trades. That implies he's a member of the NFA or can the NFA audit any Joe Bob retail trader that are not members. If so, he shouldn't have a chat room in which he's disclosing trades he's just made. Yet, my opinion is that Brooks is most likely just a retail trader that trades his own personal account along with being a vendor. Simply, he can discuss his trades publicly any time he wants (real-time, before the fact, hindsight or whatever) along with showing any broker statements if he wants. Regardless, there seems to be hundreds of users of his methods and I've seen "a few" of them with their own blogs, forum threads posting real-time trades and showing broker statements. Simply, some would say they'll rather see the performance of the students to determine the merits of Brooks discretionary methods. Yet, due to the fact his methods are discretionary...the performance of one user of the method will differ greatly from the performance of another user of the method...such is normal for discretionary methods.