Al Brooks has the gift of laborious, long-winded and circumstantial explanations, ever repeating himself. This is what makes his books difficult to read, it is not the content. His way of trading is pretty straight, he uses one or two indicators and looks for ever the same profitable patterns for determining the trend and finding an entry location.
I like his books and they are not complex in despite of his personal ways. Just compare them to "Paul Wilmott: Introduces Quantitative Finance" or "Ralph Vince: The Mathematics of Money Management" or "Stephen Taylor: Asset Price Dynamics, Volatility and Prediction". That is complicated to read and more of a headache.
Reading Al Brooks is more like reading a comic. It is full of charts.
The following 2 users say Thank You to Fat Tails for this post:
John is (or was?) the main guy at Futures Truth and in my experience of him was knowledgeable, humble and helpful. The book runs over a range of different discretionary approaches to reading the markets and, in the second half, has a very pragmatic look at the core methods for systems trading. Its got enough detail suggest ideas for the currently confused without pretending to a holy grail.
Its been around long enough that you'll probably find it in your library or on the net. Then you may well like it enough to buy a copy anyway.
If you can't get the clues from this book then spend more time looking in the markets for them. Then compare what you found with the book. An iterative cycle should do it. I wish it was the only book on trading technique I'd bothered reading ... I still come back to it from time to time.
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Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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Fat Tails seems to have misunderstood my earlier post. Many vendors on the web. Some good. Many not so. I've gotten freebies from Elliott Wave Int'l, Dynamic Traders, tradethemarkets, Advanced Trading Workshop, Puretick and a few others. I consider this all as part of the free education available on the web. and most of these same sites offer courses that are expensive, none of which I've ever bought. We're big boys here, and are capable of reading the price tags. Let's stay positive. I found that site again, and it's definitely a freebie, despite the other products. I stand by my recommendation that the free ebook called Self Recognition is a good read for the mental game of trading, and many of the other freebies I've found on these other pay-for-product sites were good too.
The following user says Thank You to bsheers for this post:
Thank you for putting this clear. I am always suspicious, if it reads "download free e-book", you download that e-book and then you find out that the first 300 pages of the book are missing and that you are invited to pay $ 2,995 for getting them as well. It does not look like a good deal.
It feels like somebody who is not making money with trading tries to steal your money instead.
That said, the few available pages are worth reading.