Sure, there is always an exception to the rule. Even Timothy Sykes has millionaire students, even though his income comes from selling courses. https://www.timothysykes.com/blog/announcing-yet-another-millionaire-student/ @padutrader Maybe get together with @volpri who according to, and verified by @Relentless, uses Brooks methods to make money consistently. I have an open mind...
One of the problems of using Tradestation "sim", as soon as price hits that limit price, you are filled, it is no where near to real time or Ninja sim which gives an order number, can bounce on your limit order 50 times and not be filled. A trader could waste a year and much money simming on Tradestation then thinking real time be same in Tradestation is in for loses. You think Brooks concentration level same when he simming as opposed to real time the same? And risking 3 points to get one point plus commish, even at 80 percent, unless you doing size, equity curve moving slow.
I have spent hundreds of hours studying AL's concepts of price development and use many those concepts to earn my living. I also trade with a group of people who do the same. Any professional trader learns from any number of sources, my own have included Sperandeo, Cooper, Wyckoff, Williams, Raschke and a number of others but Al's scholarship is as sound and valuable as any. For anyone wanting to test the value of Brooks's work, I recommend spending the time to study and test with the time and efforts required of anyone with the desire to trade for a living. Arguing mindlessly and endlessly on ET with those who have no idea of which they are talking about is an absurd waste of time.
then how would you know it? man, you'll die stupid..I just don't see any progress in the way you think .. but I like you I'll give you a like, wait..
I think once you have expert level in any field, especially trading, you can take almost anyone's tactics and make it better for oneself. I just didn't find Brooks material a fun read, charts I understood too easy, but how much does one want to collect. I think many who been trading long time have read/studied "Sperandeo, Cooper, Wyckoff, Williams, Raschke" works plus dozens more. I have read Brooks stuff, but I think John Hills books were better, Brooks does have videos and YouTube. Brooks wasn't around in 1980's when I added commodities and intraday trading, Hills: daughter became a trader as well and both managed Hedge Fund in 90's I think. And John Hill developed Futures Truth to boot, I found some good systems from that. http://m.futuresmag.com/2009/10/31/hill-and-hurd-all-family At some point, you go off on your own and donate all your books etc, you achieve monetary goals and challenges but thank goodness you come up with another idea to test. Got to do something in my rocking chair.
i mean we are talking about Brooks....i do not believe in bad mouthing anyone. vote with my feet you know
but i think brooks is misunderstood. he very clearly says see the trend first how strong it is ......you should be convinced of that ........that has to be determined first. after that the next step....if there is trend GET INTO IT. FOR THAT HE MAKES A LIST OF SET UPS.... why do you need a set up to enter: can you not enter any where? you know the trend so trade with the trend !......of course you can. but then how do you control risk.? so enter on a set up that affords a stop hopefully tight. if it is not tight then check whether you can afford the risk/loss. so if you have a pull back in a bull wait for a sell setup and sell.if that fails and you get stopped out it just means that the pull back is deeper....so wait for the next sell signal and sell that......if you get stopped out for 2-3 times more than should get the idea that this pull back is NOT a pull back. Now if a trader has no clue what is the trend or how strong it is...then using any OR all of Brooks methods will be a disaster and the trader will ,correctly or wrongly blame Brooks and call him rather colorful names .this is unfair, at the very least and perhaps moronic at the most. this is what brooks says to do and this is what hundreds of great traders have said to do over the decades. no secrets..... obviously i too have misunderstood brooks and so my losses.....you cannot tie a horse to a wagon with it's face facing you and expect to go anywhere. you cannot trade set ups first without focussing on trend.... after 14 years of losses and cursing brooks for that long i have realised that it is me that is problem NOT BROOKS SO WAKE UP AND LETS MAKE some money. PS: nowhere has brooks or me said this was easy to do......but it does give a road map if you like ........