Perfect example of why Al Brooks is impossible to follow

Discussion in 'Educational Resources' started by ChkitOut, Mar 31, 2013.

  1. I think the cycle goes something like this:

    Stage 1. Wow, I cant wait to learn how to trade for a living. I am so glad I found this knowledgeable guru, and this chatroom/forum full of helpful people.

    Stage 2. This is so amazing. This TA stuff is great--- I never knew the market was so predictable! Boy, I'm really learning a lot.

    Stage 3. Still not profitable but I know I'll get it. This like a graduate school education, so I'll just have to keep at it. The experienced guys in the forum must be making good coin, and soon so will I. I've actually started helping out the newbs on the site, answering their questions and pointing out their mistakes.

    Stage 4. Hmmmm... I still cant get it. This all makes such perfect sense in hindsight but in real-time it never seems to come together. But Al keeps calling out profitable trade exits, and the experienced forum guys have such solid aftermarket comments.... I wonder what I'm missing? But I will not give up, as the guys in the room say, there is no wealth without work. Besides, the newbs I help are impressed with my knowledge and thank me for my help, so that must prove I know what I'm doing. I'm sure I'll be profitable soon enough.

    Stage 5. Crap, I still cant be consistently profitable. I wish I could see someone trade this in real-time each day and observe the decision making process. The teachings make sense on a hindsight chart, but in real-time there are lots of cases where you could interpret it either way. It would be so helpful to see how these great traders do it in real time. But for all the knowledgeable people here, no one wants to teach in real time.

    Stage 6. Still not profitable. Something doesnt seem right here. The guru often calls profitable exits, but never said where he entered. Sometimes he'll call an entry and it will go against him, and he'll disappear and come back pretending it never happened. The helpers seem great at pointing out newb errors on a hindsight chart, and pointing out great trade entries after the fact, but they never do anything in real time either.

    Stage 7. Have I fallen for a scam? I've never seen anyone here produce a consistent record of live calls or blotters. Be it the guru or the other experienced group members. These guys all inspired such confidence at first, but I wonder if any of them are making any money trading? Hey, the newbs I help all think I'm a genius, yet I'm not even profitable!

    At this point the trader has reached the point of no return and will either start trying to sell stuff himself, or eventually walk away, only to be replaced by another starry-eyed newb.

    Welcome to the online trader education meat grinder. If you're lucky you stayed on a sim and didnt blow your life savings.

    :cool:
    :D
     
    #21     Mar 31, 2013
    pursuit and jodistrict like this.
  2. It`s simple.Actually you don`t need to find them.Call your broker and ask, who is who in the zoo.Apart from that,there are plenty of info on trader`s performance and statistic on the web.
     
    #22     Mar 31, 2013
  3. WD40

    WD40

    you seem to have a reverse midas touch --after all these years, every "guru" you touched turns out to be useless?


    ps. you have been posting here for a long time !!!
     
    #23     Mar 31, 2013
  4. Contact any prop firm and ask to speak to their top guys. Ask them how they trade.

    Next call the top ranked CTAs and hedge funds and talk --- most will hang up on you, but some will chat.

    Dude you need to make an effort. No one will hand it to you.

    surf
     
    #24     Mar 31, 2013
  5. There is something peculiarly odd about his method that touches on your point. You get this urge to keep going and trying because at the end of the day you say, well, i saw all of these trades, i just didnt take them i guess because i need to rid myself of fear.

    But its all an illusion. and your next point is exactly why.

    then you say screw it, im just going to take the trades and live with it. then at the end of the week you've simply conducted an exercise of how to engage in 50/50 trading.
     
    #25     Mar 31, 2013
  6. just 1 pal. i never did the guru thing, brooks is the first.
     
    #26     Mar 31, 2013
  7. Yeah!:D

    Dude!Trading is not an occasional thing,if you take it seriously!
     
    #27     Mar 31, 2013
  8. Pekelo

    Pekelo

    I think you should give him one more last try. His 25 hours video is only $250, that is a bargain! Now personally, I could tell you the History of the Universe in less than 3 hours, so we must admire anyone who can talk 25 hours about such a boring topic as parallel lines and breakouts and whatnot, so he sure must have some sort of talent...

    I say give him another year or two, and just think about that it is maybe YOU, not him... After all, you needed hundreds of hours to realize that his stuff might be BS... :cool:
     
    #28     Mar 31, 2013
  9. that is the scary part, i have to look at myself in the mirror and say 'damn, you were pretty dumb for long time', then have to face the music and admit to yourself that you've been had.

    again though, ive never been a guru guy but i thought, well, you have to believe in something at some point, and this stuff seems as good as anything out there. how sad.
     
    #29     Mar 31, 2013
  10. 25 hours!
     
    #30     Mar 31, 2013