how to understand Al Brooks

Discussion in 'Educational Resources' started by padutrader, Apr 24, 2018.

  1. So that maybe some day I could be as "decisive" as Brooks is in his live trading chat room? Yeah, that seems worthwhile...
    #271     May 2, 2018
    #272     May 2, 2018
    padutrader likes this.
  3. If you learned something from Larry, then I'm guessing he probably "repurposed" it from someone else.
    #273     May 2, 2018
  4. I would think the two would be symbiotic rather than mutually exclusive.
    #274     May 2, 2018
  5. padutrader


    speechless for once Fred?
    #275     May 2, 2018
  6. zenemini


    Very little new under the sun. He actually did come up with this little tidbit from some work he did with George Lane back in the day. In a seminar Lan gave in the early 2000's, he actually credited Williams.

    Not true at all. A room can be for the purpose of calling trades, with stops and targets and all else, or it could be just an educational medium to facilitate showing examples in real time, a sort of laboratory environment.
    #276     May 2, 2018
  7. wrbtrader


    This forum is the perfect example to explain the difference between a "chat room" versus a "trading room" for those that do not know the difference.

    Baron (ET owner) had a "chat room" here (no longer available). Any member of the forum can show up and talk about anything as long as they respected the TOU policy. Few posted real time trades...most just debated...moderators kicked out those that were there to spam, troll and start verbal fights.

    Baron never called it a "trading room" although there were a few naive idiots that showed up to try to use the "chat room" as a "trading room" as in a live trade room.

    Why not a Trade Room ?

    There were no "head trader" telling everybody when to buy and when to sell. Thus, had Baron called it "ET Trading Room"...there would have been a head trader telling everybody what to trade, when to enter, when to exit, trade mangement...all in real time.

    You'll be surprise by how many people showed up at ET expecting the "Chat Room" to be a "Trading Room". Lots showed up and were very confused by what they saw...they wanted to see a head trader and just saw most arguing or talking about stupid things while only a few members took it serious and talked about their trades in real time.

    Lets put it this way, I didn't see anyone in the "ET Chat Room" demanding live calls, broker statements from Baron or from the moderators nor did I see any forum message posts by anyone demaning broker statements nor demanding live calls from ET management...

    People understood it was not a "ET Trading Room".

    Had Baron called it a "Trading Room"...the head trader would have been expected to show verification of the live calls. I suspect this may be why Al Brooks does not show verification...its a "Chat Room"...not a "Trade Room" although both will have traders posting trades regardless to the excuses Al has given about why he does not show verification.

    Here's the issue that some may have ignored. There is a "Al Brooks Online Trading Room". It's not hosted by Al Brooks although it bears his name and I believe uses the same servers as the Brooks website. Its hosted by others using the Brooks method and I believe Brooks then shows up and gives price action analysis.

    Simply, if there are those demanding to see verification...they should be asking verification of those that started the "Trading Room" if those people are in there making "live calls". I suspect without proof that Al is getting a cutback from the "Trading Room" but if such was still wouldn't require him to show verification.

    Yet, I do think those that started the "Trading Room" in Brooks name...they should have called it a "Chat Room" and not a "Trading Room". Further, they should have identified themselves or Brooks should have identified them by name to ensure to his audience understood that it was not Brooks that started the "Trading Room" regardless to its location on Brooks website.

    Another confusing aspect...a fee is charged for the room as if its a live trading room.

    Anyways, now you know why Baron never called his room a "Trading Room" and it was free. It was called a "Chat Room" although I did see a few posts here at the forum by members that refer to it as a "trading room"...confusing others (new members) about its purpose but I never saw Baron or the moderators here at ET call it a "trading room".

    The rumor is that the "ET Chat Room" was closed because the difficulty in managing all the arguments and TOU violations. But I suspect that too many members were trying to use it as a "trading room" along with referring to it as a "trading room".

    Today, no chat room here at the forum...its gone. Yet, there's now a "Chit Chat" thread. :p

    P.S. Guess what the first few months of was and what it was spamming on Yahoo ?

    Last edited: May 2, 2018
    #277     May 2, 2018
    Sprout, zenemini and Xela like this.
  8. Are you suggesting that it would not be educational and instructive for Brooks to call trades in real time while explaining the underlying rationale as the setup and trade unfolds? I would think such a service would put it all together, since he already provides a real time trading room subscription service. Just giving color commentary and equivocation is tantamount to hindsight. Is there not enough of that already in his books and video courses?
    #278     May 2, 2018
  9. zenemini


    I'm not saying that that would not be educational. I am saying that if it were not part of the service, then that is ok too. I throw a trade out in the ES Journal from time to time, but personally, I do not think I could throw every trade out there and not have it somehow
    undermine my effectiveness as a trader.

    Also, @wrbtrader just posted that the Al Brooks trading room isn't even hosted by Brooks himself, which makes this whole discussion kind of bizarre, because the relationship of Brooks the educator to the Brooks trading room is in doubt.

    In the end, FF, it seems that you simply have an axe to grind against anyone who writes a book or authors a course or in anyway attempts to share market knowledge for a fee. I don't know what type of experience has generated such a general loathing in you. But my experience with such materials over the years has been favorable. Then again, my results are favorable. If yours are not, then I'd understand that you would prefer to lay blame at those whose materials you used rather than blame the user. All of that is conjecture, of course. I just do not get why anyone would put the energy into witch hunting Brooks as you have here.

    You can quote me and respond, but I'm finished with this topic.
    #279     May 2, 2018
    Xela and padutrader like this.
  10. padutrader


    i am tremendously surprised at the response my topic has got,never expected it. both Al and Mr Foresight have a right to blow their trumpet. but Mr Foresight has very emphatically made his point, as you rightly mentioned.I respect his and everyone's views
    #280     May 2, 2018