Well, that would be Brooks's problem, since he's the one putting out the real time trading chat room subscription service. Besides, he noted in one of the videos posted earlier in this thread that he doesn't take too many trades in one day. So I don't see why it would be a problem... If true, then what makes it bizarre is that Brooks has a real time trading chat room subscription service that he does not even participate in. Over the years, I've read well over a hundred books related either directly or indirectly to trading. A few were useful, some were interesting, some were amusing, but by far most were not worth the paper they were printed on. I guess I just find it interesting how some of these guys who I genuinely suspect are questionable receive such glowing commentary. And so, I offer a counterpoint to the cheerleaders. In the end, we are each our own arbiters of what is of value to us. So if you have genuinely profited from Brooks in some meaningful way, then you should ignore me. If anything, I made you gather and focus your thoughts to defend your position, and you are now the better for it. You're welcome. Thank you for asking.
if you see my first post i have said it is easier to understand by seeing the videos then the books.that was what i wanted to communicate but it blew up into something else however his method is too complex and there are numerous videos on you tube explaining simple strategies that will make you money with far less time and effort spent. All you need is little discipline and risk management which is basic. You do not make more money by trading complicated systems. By Al's admission itself, his is not for beginners and even experienced traders need not waste time,as i have needlessly done.
"In the end, we are each our own arbiters of what is of value to us. So if you have genuinely profited from Brooks in some meaningful way, then you should ignore me. If anything, I made you gather and focus your thoughts to defend your position, and you are now the better for it. You're welcome. " i think some people are,[ignoring you] Fred. for the record i do not think i would advice a rank beginner to ever go near Al. he makes things unnecessarily complicated. Trading is simple: when it does not look simple ,do not trade. We all leran this the hard way You do not get extra money for trading difficult conditions
They are indeed. While I was posting in the thread (i.e. until a couple of days ago), I got the usual messages from a few of the others here who have profited significantly from Brooks' work, warning me of the inevitable outcome of threads like this and that I was completely wasting my breath. They were right, as ever. It's a shame, in a way, but such is life (or such is "forum-posting life" anyway: the voices of sheer blind prejudice and ignorance are absolutely tireless, and it becomes futile even to try to correct the factual misinformation). It's frustrating, because it leaves a dreadful legacy in the forum, and as a result, when people who are in the position I was in, many years ago, are urged by successful professionals to "Give Brooks a very good look and be prepared to work hard to reap the benefits", the nonsense that fills these forum threads are what they'll find when they search, because the people with any real knowledge and experience of the subject either didn't bother posting in the first place (because they've "seen it all before") or pretty quickly got fed up with it. But prejudice and misinformation have always had louder and much more insistent voices than rationality and education: what can you do? Time (in fact "overdue"!) for me to unsubscribe from this one, now, anyway: rational thought and factual, direct accounts of people's personal experiences are clearly not welcome, here.
Yeah, really. Because unless someone is heaping praise, then his post is of no value. These threads are evidently intended to be one-way streets. (Are you also religious by any chance? My religious friends are a lot like that.)
I'm reminded of our departed ET member, Jack Hershey, whose trading instructions filled endless threads and tireless discussions. His charts had more lines than price bars. He claimed to never have a losing trade, claimed to have regularly made three times the daily range, but never made a real time trading call on ET, despite numerous requests to do so. If I recall correctly, he did make some calls on another site, and did badly. Nevertheless, and despite people evidently needing to spend years learning his trading method, he had vigorous defenders claiming to have made all kinds of headway, and were no doubt on the cusp of greatness. I wonder how they're all doing.
A real trading room...only the head trader talks. A real chat room...anyone can talk. Trades can be posted in either but I don't believe "chat rooms I think a little differently but via my difference in experience. Trading is very difficult and complex because there's more to it than just trade signals. Yet, you got to understand I'm from a "business like" & "military family". Thus, I look beyond trading prior to getting involved. The first question I asked wasn't about "price patterns". My first questions involved taxes and a business plan...I was 17 years old when I asked those questions. Answered by an ex Air Force officer...my old man a floor trader at the time. Yet, later...trading became easier but only after many years of experience. But I've never viewed trading as "easy" because of all the hard work involved in the beginning and ongoing to be able to keep doing it. Today, I see too many people jumping into "trading rooms", "books", "trading courses" as if its all they need to do. Most don't even prepare for tax time or don't even manage their trading as if they are "self employed" (a business). Typically naive responses I see...if someone had a 20k month...they immediately start playing with the "compounding theory"...lets see. If I make 20k per month...how long will it take before I'm a millionaire ? They don't even look at living expenses, support of a family, private medical & health insurances (costs), disability insurances (costs), self employ pension plan, taxes and other things that makes the compounding theory look like a joke. Seriously, throw in some kids, spouse...the family...those profits are greatly minimized but the idiots out there only see the "net theory"...that compounding number. Now throw in a possible divorce in the picture somewhere along the lines in your trading career...you'll see the reality of being self-employed. You gotta treat trading like a business. If you can do that although most can not...its not easy and its a lot of work...ongoing. Simply, in my experience...I've never personally met a business owner say that its easy work. If someone can not treat their trading like a business...its then is just a hobby. wrbtrader
Depends on what you see as a business. Some business are just surviviors (restaurants). Other business are thrivers (FAANG). Difference being if you have an edge or not. Otherwise doesn't matter if you think trading is a business or hobby. Making a business is not an edge. Just part of the plan. Hehe.