Tribute to Brooks

The problem is the student, not the teacher. Mr Brooks has no control over Mr padu's misunderstandings. Mr padu trades without heed to market cycle and context.

 

stopped out

 

i trade it all the time

 

that trade was profitable one...i had to walk the dog

 

the reason this journal here is to illustrate brooks method.....that trade was classic brook's trade

 

You seem to be proving over and over again that Brook's method, while profitable for Brooks, is not profitable for you. Perhaps it is time for you to move on from Brooks?

You've been running in circles for 12 years or whatever. It is time for padu to find padu's method, not keep going on about Brook's method.

 

it was a wedge which failed and reached the target which was the height of wedge......i was out with my dog if not i would have booked profit

 

Well what does Brooks say? When in a steep upwards channel, buy for every reason. Stop under the first leg up. Simple.

 

Doesn't sound very professional or serious - does it?

 

These discussions always seems to be pointless and it seems to me there are a lot of un-informed comments coming from both sides.

It seems obvious to me that Al Brooks himself is not himself rich from trading, but I may be wrong. Is he knowledgeable about the market from a price action perspective? Quite likely. However, there's a difference between knowing and doing. Just like there's a big difference between calling and trading. Day trading is a very marginal business and you're pretty much either successful or not. Almost good enough is simply not good enough.

Could some of his students be profitable? It's possible...

As for institutional trading - the other side seems to suggest that these are always informed and rational, but there's no doubt that there's plenty of dumb money on the institutional side as well and most seem to underperform. I even know one who's managing quite a bit of money and trades mostly on so called price action concepts. He's not doing very well so far and I would say he's what could be characterized as dumb money.

And surely even those successful in institutional trading deploy a wide range of strategies and tactics for trading a given market? ES is a very heavily traded market and I imagine a lot of the institutional activity relates to hedging activities and not directional trading.