Install latest free version of realplayer Watch & Download Videos for Free | RealPlayer
Allows download of most embedded videos into .FLV format, and also has a convert feature to create a file that can be used for almost every device.
The following user says Thank You to Snoop for this post:
I ordered Al Brooks Reading price charts bar by bar book.
It's an amazing book. I have bought over 50 books now and read most of them but this one beats most of them. I makes me rethinking about trading. I feel I need to read this book once in a while AGAIN.
Thanks again for this book. It's a must if you are not profitable and wondering what you're doing wrong. Chasing the holy grail on indicator level is a devil most of the ninjatrader users have. (including me)
I used the breakout and wait for pullback system before, I learned that from signaltrading.net
On the other hand, he's mentioning that no educator/writer or trade room is actually posting his p&l statement from the last years. Did Al Brooks posted his ??
The following user says Thank You to MetalTrade for this post:
I know this will sound like a cop-out, but I have discussed this extensively with Al and he does not post his P&L or actual trades. When someone is paid for providing a trading service and posts their P&L or specific trades then it opens them up to a whole mess of regulatory action by the regulatory agencies (NFA for futures). When you post trade or P&L data, if someone questions it, then you are subject to being audited. To be audited by a regulatory agency you must first be brought under the agency's authority. They can force you to be under their authority because agencies like the NFA and NASD operate under the Commodity Exchange Act. Once you are brought under their authority you have a number of fees to pay and you MUST operate according to their regulations. This means everything from e-mails to advertising to videos to websites to what you say in a webinar must conform to very specific regulations, approvals, etc. When I first offered to make a website for Al he said he wasn't interested because of the headaches associated with regulatory registration. After some research, we eventually came to an agreement where he would limit the types of things he would discuss or put in his daily trading updates. While this opens him up to some criticisms and accusations of not being transparent, it allows him to do as much as he does with a minimal hassle and risk.
BTW, for those that don't know, Al has been working on a second edition of his book which is much clearer and goes into a lot more detail. The second edition became so large that the publisher is breaking it up into three new books, the first of which should be out by the middle of next year. Al will also be speaking at the Las Vegas Trader's Expo this month for Futures Magazine.
The following 7 users say Thank You to Fletch for this post:
I for one welcome it. I am going to consider it "new books" instead of revisions of his original.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
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.
If you want to support our community, become an Elite Member.
The following 2 users say Thank You to Big Mike for this post:
dont get me wrong, I am a book worm and I look forward to the explanations in the new volumes... but I rather have live demo's from him showing the analysis in real time... to me, for this business, that is the most efficient way to learn.. only true way to see it real time to allow the brain to absorb it... IMO..
Since Al Brooks has a low idea about people selling systems without showing their P&L and blaming them for it in the preface chapter of the book, he's just doing exactly the same as the ones he blames. If he hides behind the fact that you should watch out legally, I hope he understands that this might be a reason why the one he blames aren't posting P&L's. In fact, I guess the industry asked the regulator not to show P&L's, if they would be allowed, they wouldn't be selling a lot of training IMHO!! I guess we can say that everybody in the writing/training trader business is really happy that they aren't allowed to show P&L's.
Is there anybody profitable on BM purely trading Al Brooks' system ?
The following user says Thank You to MetalTrade for this post:
answer your question, "Is there anybody profitable on BM purely trading Al Brooks' system "
yes, I trade ES mostly based on PA method of Al. I win every day. My winning rate is 80+%.
I am working on increasing size now, though my regular ES size is already over 10 right now. I hope 20 ES can become my regular size in 2011.
PA doesn't work on everything, like Forex. It also will make you miss some good trades. But I don't care. Money is money, I just trade large (to me), that's it.
I understand not many people can get this.
The following user says Thank You to jz166 for this post:
Rather than look at his book or any other book as a "system" I look at his
book as a great reference for certain set-ups and his psychology when he analyzes the market.
A glimpse into a trader's psychology and his analysis.
I am going through the book for the second time, because the first time has helped me simplify the methodology system I had. Further, it helped me in terms of thinking of my system in terms of odds, risk:reward, etc.
I did not find a "system" per se in the book, rather a collection of situations where an analysis is applied.
I dont expect anyone nor want anyone to be my guru in trading, instead I choose carefully those that have applied their methodology successfully and the steps they take to apply it.
I am not saying in a bad way, just a friendly trading way: No one should ask if someone is successful applying someone else's methodology successfully because that would put even the best of authors in a bad light. You never know if others apply it right, and what else they put in the mix. Also, the successful guys don't always share.
I really suggest to take from Al Brooks those parts that you think could help you because to apply everything from that book is nearly impossible.
PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.