Sorry. When I said I didn't want to argue about it, I didn't mean argue about it with you. I was referring to my having to argue about it for many years. I finally just stopped because there was no point to it. Online daytrading has become a runaway train, and people who stand in front of runaway trains generally don't fare well (pun intended).

As for material, I suggest you study the Wyckoff material I mentioned above first. Then read Developing A Plan. Once you decide what you want to trade, how you want to trade it, and when you want to trade, there may be more for you to look at. But probably not. The market will tell you just about everything you want to know, if you ask it the right questions.

It's not that difficult, and it doesn't take years IF you study first. If you trade first and study later, if ever, then, yes, you could spend five or ten or fifteen years at it and never get past breakeven.

none taken.

if that's suffice for knowledge,if i'd not being harsh-are the practioners of Wyckoff method r making money?

i place study first.i like to get an edge in everything by knowing b4 doing it actually.

i was hoping to be proficient in trading in a year.but if it may take years,then let it be.
a journey of a thousand miles begins with a single srep.

Al Brooks is by far the best course I have taken. He sells it way below its true market value. Furthermore, the course is totally complete. He covers everything about trading you will need to know and gives a sufficiently complex discussion of all the possible patterns you will ever see in the market. He discusses real situations and doesn't use idealized diagrams. You don't need any other information which will be lower quality and just add to the confusion.

As I said, the course is complete. For example, I once bought a $1000 course that said nothing about stops. If you don't have a course that even discusses stops, it is incomplete and useless. Al goes into depth on where to place stops and targets. He also discusses the trader's equation so that you manage the trades in a way that you will be profitable.

Another good thing is that Al trades from a basic candle stick 5 minute chart with a 20 ma. This simplifies you trading. You don't need to buy expensive software to show the latest fad overwhelming you with useless information. You can use it on any available platform giving you flexibility. Not paying for one of these platforms for one or two months will cover the entire cost of the course.

Also, Al says he is currently writing a new version of his course using advanced graphics to better illustrate the concepts, but he doesn't say when it will be out. So I would just start out with the current version.

The course is still challenging and many of the concepts you won't understand until you practice and apply them. It's a course for a serious student. I am currently going through the entire course a second time after much trading, and it makes a lot more sense the second time. I still can't claim I am following his exact method, but I am integrating his concepts into my trading piece by piece.

Given that Wyckoff is still popular after a century and given that virtually all of what you'll read with regard to trend and support/resistance and volume and "price action" originated with him, then I suspect his practitioners are still making money.

However, the only way you have of knowing whether anybody is making money is to see their tax returns. As that's not going to happen, then ask to see their trading plans. Only a handful of people will be willing to do that.

If you don't want to read the material, even though it doesn't cost anything, that's your choice. But you may want to look at the following before moving on to something else:

Business Insider: The Richard Wyckoff Trading Method

As for how long it takes, the last person I worked with who was willing to put in the hours retired in eight months, key words being "work" and "put in the hours".

however,i am always open to suggestion.so,what other books on systemic trading n indicators u may suggest me?(not some psychology stuff,which is pointless for a noob who don't know actual trading process)

Let me say a few things here regarding this please. First would be futures.io (formerly BMT)'s own sub-forum and it's sub-title:

Psychology and Money Management (5 Viewing)
This forum is where successful traders spend most of their time and where struggling traders never visit. The psychology and money management forum is where you learn to become a profitable day trader

If your goal is to become a profitable trader, and of course it is, I feel you need to spend sometime up front learning about yourself. Yes yes know its not sexy, its not "cool trading stuff" and it is VERY counter intuitive. But, it will be the biggest factor in you being able to pull money out of the market.

I'm your perfect example. I have struggled for a few years now. IMHO I have every advantage, or seemly every advantage. I have a very comfortable life, a million dollar home, my wife has an amazing career and brings home huge cash. I'm a stay-at-home dad with time to trade when kids are in school. I have well over a 1/4 million to trade with, 4 computers in my office dedicated just for the market 3 made just for trading. I have had what I consider very solid market education with an understanding regarding money management, risk control, position sizing, order flow, bid ask, Volume/Market Profile, market harmonics etc. I'm good with Excel in mining data extracting probabilities about the instruments I trade I can program simple stuff I need in C#. I have been on the floor for the CME 3 times also at the CBOE. YET ...... in the early part of my trading "life" I failed to work on..... ME...!!

What does that mean? For me, I'm the sum total for my life experiences. My mother passed away when I was 5. My father when I was 20. The 15 years in between were the worst years of my life. Abuse, institutionalized I could go on and on.

But what does this have to do with TRADING??? EVERYTHING Turns out I have issues with loss and this plays a part in my trading. I discovered this in the past 6 months...I sure wish I uncovered this earlier. What issues, life events and/or thoughts behaviors beliefs etc etc do you have that will be your most formidable opponent....and you don't even realize it!

So, my point in all this is to show you its best to learn about, lets call it trader psychology the hard part of trading as you learn the easy part of trading. Finding opportunities.

Lastly check out this 1 min video in this post

Even Al admits those books are tough to read. He has a video course that is 250$ with the same information that is fantastic, and has the bulk of the content from the books in it. I strongly recommend it, and would never recommend those books to new folks. That video course is one of the few 'educational' resources i've bought that was worth the price.

Hi everyone,
i'm reading price action books by Al Brooks,having difficulty to understand it.it assumes readers already know many things about trading for granted.which as a beginner trader i'm not familiar with.
plz suggest me some books that will help me to understand Al Brooks better if read prior to his books,as i am a beginner.i aspire to be a serious trader.
if u had any other price action suggestions in mind(like Lance Brooks,Martin pring,Nial Fuller etc.),feel free to suggest.
Thanks.