it reached it's target: see chart. this is almost live you can check the eurusd chart right now so i would not say, you have wasted your time, reading his book.
Hey, Thanks for so many replies. I hope to re-read this book again in a year so dense it feels now. I'm curious how the book has shaped you and what else have you found as helpful? Thanks,
I did find it helpful, and it's a good introduction to his other books. You might find it helps to read Volman's books before tackling those, though, because Brooks' series of three textbooks is even more impenetrable than his first one. But supremely valuable and useful towards developing real trading skills and real income. As in most trading forums, there are plenty of us here steadily trading successfully thanks to what Brooks taught us, but it was never an easy or quick path, for any of us, it seems. And unfortunately there are also always two or three negative posters whose only motivation for discussing Brooks is to try to pour scorn and cast doubts on him. (Probably people who tried and couldn't master his work, which isn't for everyone.) Having a good look through other threads here in which Brooks is discussed (try the search function) will help you a lot with your question and related ones, and will also help you to appreciate who's worth listening to on this subject and who's principally just "trolling".
Good to hear yet another opinion. Thanks for recommending Volman. I am starting it tomorrow. As for Brooks' 3 volumes, I'll tackle them once I am done re-reading his one-volume book. I did search the forum before posting. Everything I found was arbitrary and not really related to my main question. After reading the book, it would be extremely helpful to communicate with those who practice Brooks approach. Do you know how can one find traders who practice this type of trading?
Volpri posts a lost of specifics with charts relating to Al's ideas. Xela is also an avid advocate. I don't trade like him but used to trade with him and can vouch that he is very smart, has worked hard and knows his stuff.
Thanks for the specifics! There is no user with the name Zela on this forum. There is Zelanstrar but has not been on this forum since 2008. Also, why did you stop? Have you found something better?
We traded similarly and I continued with adjustments and refinements while Al went in a different direction. We each have to find what works for us and that takes time and effort. Xela posts often, you should be able to easily find her.