Hello pawelkolasa, Diversification takes too long to get rich. I disagree with diversifying your funds. If you have a proven trading skill/edge, its better to scale up to XX to XXX future contracts and get to X million dollars as fast as you can. The goal is to get rich quickly, not slowly. This is why we day trade. I DO NOT day trade to make a living, I day trade to get RICH and rich quickly as I can. However, if you have no trading skill/edge, then yes dollar cost average on S&P 500 index to secure millionaire status in XX amount years from now.
Hello padutrader, I can definitely say this if you going to learn from Brooks and stick to him: Do exactly what the man tells you to do. I think you should sign up for his $99 per month webinar and start talking to him daily. Offer him $500 for one on one mentorship phone conversation. You have to pay the "right" people for knowledge. You should email Brooks and ask "How much money do you want for a 1 hour phone conversation to help me get profitable in 6 months sir". Think of it as a consultant fee. You can file this fee as tax write off too for your trading business. I personally have done this myself and I will do it again if I need to. We have to hurry up and make money. ALOT of money too.
i should have done this 10 years back.... but i want you to understand that brooks is teaching you technical analysis....not some thing he has developed from scratch. he has his names for some patterns but all of them have that; i paid Hansen and found that out........she asks for big amounts after the initial one in excess of 2000 usd. brooks frauds you for small amounts others try for a lot more she has names such as phoenix ....Ross has Ross hook........ but all of them teach you TA now i have figured it out for the most part.. i am now concentrating on break out pull back and breakout test trades. today i traded those on sim.......found it was good...next is test it live......will do it after 1-2 more days on sim if all goes well in sim
Hello Padutrader, So what if he is teaching you technical analysis, price action, backward price, wood analysis, dog price, support or resistance, girl price analysis, pull back analysis, breakout analysis, pony and clown show analysis etc etc etc? It does not matter what he is teaching you. What matters is, the technical analysis he is teaching you is not putting money in your pocket consistency or anyone else I know pockets from his teachings? What are you going to do about it? And do about it Quickly. You are at BIG disadvantage my friend. You not making money, Al Brooks not making money, none of his students making money, you do not use market replay to back test, you do not know how to program to automate and back test, you will not pay a programmer to program your ideas to back test, and you do not listen or take advice from anyone on this forum to help you,.., but you are still continuing to study his work. This is not good business sense to me sir or a productive use of your time. Unless you doing trading for a hobby and playing around. So call Al Brooks on the phone and ask him to solve the problem for you? Tell his Damn ass, "man, I been studying your stuff for 10 years, what the fuck man. Help me out here man" Fuck all the bullshit my friend, You put in 10 years with Brooks, damit it time for some rewards/money to show. And let me give you a tip. If it was all about trading a damn Breakout and Pull Back, we all be rich, right? somebody can program that bullshit in hour and click back test and see if it has a slight degree of edge. You need to get on phone with Brooks and get your ass in that $99 webnair, and talk that man.
padutrader, FUCK simulation man. FUCK simulation man with a horse DICK. Get your damn ass in Market Replay or manual back test for about 500 trade sample. And stop all this got damn bullshitting man. I wasted so much damn time bullshitting in SIM. When I got my damn black ass in market replay, I started seeing things differently and faster. Use market replay or go back 2 years and manual back test.
it is all about that and i will make money consistently. there is no secrets and you will all see it here .....my account is linked
Padu, hang in there...and soon, your Money Train will come. Who knows, it might click for you on New Years' Eve. So loooong, I've been waiting...waiting, for you. Oh Lord. Now, the time has come Everyday, I pray...for this power. Money Train, 1995 movie soundtrack. Wesley Snipes and Woody Harrelson.
Backtesting will do him no good when forward testing here has proven he is not making money. He needs to get off the Brooks idea, and become his own person.