Hi padutrader. I was recently reminded of Al Brooks' work and have just started looking into it properly. Thanks for your efforts in raising his profile too. Just wanted to make contact. I have just started running H2/L2 trades off D1 charts. His writing is incredibly dense and his clips not much lighter. But the method all seems well thought through. Onwards and upwards.
you have done the right thing by starting with H2/L2 -make sure there is a strong trend. markets are complicated and brooks tells it like it is........ when I first read him and heard that any trade has a probability of 60%,i thought he was mad. I thought I could make trades which were certain...... if I learnt enough about the market. 12 years down the line I have to say Brooks was right. no trade is certain. if you want to learn about what the market is really like......then brooks is the man. but once you know that you have to figure out how to make money out of the knowledge. I think I could write a book on Brooks!
I think you have to consider learning brooks like a college course ....sit down and study it for half a decade or more. if you are young then go for it. I studied brooks for 12 years and grew old doing it:now I just do not have the energy to trade his methods. I just trade whenever fresh. I just turned 63 so I do not have the same enthusiasm as 30 years back but if I had studied brooks 30 years back I think I would have not had the misconceptions about trading that I had gathered. do go for it and see if he benefits you
If you have to look at charts and price bars to trade, you'll never make it in this business. The players grinding out the math and execution logic, will always be steps ahead of you. Don't kid yourself. Get smarter, or find something else to do. You need to graduate out of charts and bars ASAP if you want to survive, and just take a long hard look at the dummy in the mirror.