It's been a long time and I forgot the lunacy that goes on here. If you've stuck to Al Brooks for 20 years and it ain't happening maybe it's time to try other ideas, or maybe it's time to carefully consider why you haven't come up with at least one trading strategy you can apply in a disciplined manner, because that is all it really takes. There are really two strategies out there: trend continuation and mean reversion. If you can't find something that works here, maybe it's time to admit that you're not trading to make money but to have an experience: be that chasing an inaccessible dream, to be part of some community, or some other reason that has nothing to do with making money.
that is what i am saying. Brooks is not Brooks. i have stuck to technical analysis. not Brooks. he is teaching technical analysis and if trading is as easy as learning something, everyone would have excelled at it. there is a lot of emotion with money and making and losing it.You can blame Brooks or Ross or LINDA but ultimately it is this.The enemy is within. And the style that Brooks is teaching-discretionary- is the toughest one to do. and trading requires commitment competitiveness , hunger and while i obviously have commitment the other two may be lacking. right now i need to make money or i will starve because inflation has finished my income and i need more. so i will probably make it
probably is because saying Brooks is a fraud is saying technical analysis is a fraud. maybe it who knows. like you said comic hour
The only thing that trading requires is the ability to click the buy and sell button. Al Brooks and other vendors are selling a dream, and are NOT disclosing other things which would put you off. However, SUCCESSFUL TRADING requires to work on your personal issues and biases (we all have them), developing and following business plan, having strategies that fit your personality and beliefs, proper position sizing and risk management, and constantly monitoring and correcting mistakes to improve trading efficiency. (Each of these categories have number of sub-tasks.) Then the question becomes if you’re really committed to working on all of the above-mentioned categories, or if you’re ONLY committed to Al Brooks and lack commitment to the other essential categories of trading that are keep you stuck? “Commitment means congruecy. It means that the whole person is working together for a common purpose.” ~Dr. Van Tharp~ “The ultimate test of whether or not you’re committed is consistency of profits.” ~Dr. Van Tharp~
Man, I've already tried to help this poor dude. But I seriously doubt there's any cure for him. He thinks he knows Al Brooks, but the way he trades is anything but Al Brooks IMO. Not only is he clueless about Brooks, he doesn't even bother listening. After 20 years of failure, you would think one would eventually grow out of stubbornness. But no, not him.
I probably should just go back to lurking… but might as well say a few things. Al Brooks may or may not be a successful trader. I have no way to know for sure. I can only view him as a technical analyst, because that’s the only thing that he can really contribute to anyone’s trading. Same with Bob Volman and a number of others. I won’t ever see an audited record of their accounts, and even if I did, if what they offer me can’t contribute to my trading, I wish them well and will look elsewhere. Trading is a business after all. Linda Raschke is one of the very few trading teachers who has a verified track record, one that spans many years. That doesn’t mean I can just copy what she does and be as profitable as she has been throughout her career. One of the biggest problems with trading is it always attracts the wrong people. Just go to a Trader’s Expo and you’ll see how many social misfits are there, both on the client end and the selling end. I only attended one such expo, and boy can I write a novel on what I saw there. I may go again one year just to amuse myself, although it’s rather sad. There are people who do this for many years, and they keep making the same mistakes because they really aren’t so much interested in doing the uncomfortable work involved. They just like to sit there and try stuff thinking they’re going to somehow get it, without doing anything much different. This is why it’s important to keep journals, you can go back and see what mistakes you keep repeating. Anyway, good luck. Hope in another 20 years you’ll finally get it
For some people, becoming committed solely to technical analysis (TA) at the expense of trading psychology can lead to a constant fixation on TA and frequent participation in live trading. Without addressing their underlying issues, this approach creates an expectation of eventually ‘mastering’ trading through TA alone. This constant anticipation and repeated expectation can stimulate the same brain regions as actual winning does. In such cases people can become addicted to either trading or TA. I’m not saying that it is your case, however 20 years of anticipation is suggestive that Al Brooks methods have hijacked your ability to asses and respond objectively to your situation. I want to make clear it that I’m NOT saying that you’re a gambler, nevertheless I’d suggest to watch this 3min video and consider if the 20 years of anticipation could have hijacked your brain. If it did, then it might be wise step back and start retraining your brain and developing new (simpler) approach to trading.
wow this thread is attracting a lot of accomplished and experienced traders with powers to express ideas clearly and succinctly with the least noise. overnight does the same thing but more colorfully. i just realize that trading live you are not thinking about the trade or technical isuues -i am transfixed like a rabiit is in front of headlights only it is front of money...money ....money coming or going. takes a little getting used to. Sorry a lot getting used to. Even though i have all the technical pat down i am just not observing them