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Lance Begg vs Al Brooks
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Lance Begg vs Al Brooks

  #31 (permalink)
Elite Member
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Zwaen's Avatar
 
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Hey zcui,

I don't think that will be a problem. The point is, Lance shows the concepts which always work in the market. He also ofcourse states that it is the market structure which can make it work.

Take for example a Pullback. You can call it a pullback, a Ross Hook via TTE, a retracement, hidden divergence, a H2 or several other names. The point is that the market has a bias to either the bulls or the bears, and you have to look for a weak push from the countertrend traders and enter at the point where they will put their stoplosses.
What you have to do is analyse charts of your preferred market, and look which pullbacks work, and which pullbacks don't work. For example, a pullback which has candles in decreasing length, or doji's in the leg, or tails on the candles in your desired direction shows weakness of the countertrend traders. Offcourse beware if the trend is getting " old" ( 3d push) or is looking to strong SR.
So the concepts will work, finding weakness in the countertrend leg, but the way it materialises in your chart will vary across marktets and across time. For example Ross states taking pullbacks to the RH via TTE only on the 1,2,of 3th candle of the pullback. This rule has worked for him in his market, at that time, but will change over time and markets. I think you have to trade the concepts, and find your own rules.
So everyone wil have to analyse it for the market they like to trade, and that is the only way you will get confidence in your setups, through your own research.( imho)

One of my worst enemies are my own false assumptions
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  #32 (permalink)
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I've read both and enjoy each. not a fan of brooks new book. The basics are the same, but beggs is easier to read. Trapped traders and fading weakness. Markets have to move from areas of "support" to areas of "resistsnce" because all the orders are there....

Is trading really so difficult? nooooope...
Are the psychological barriers in trading next to impossible?yuuuup.


Honestly, I'm convinced if a beginner follows beggs book to a T and really takes the time to visualize the market from other traders pov, he/she could be consistent in 1-2yrs.

also...might as well give joe ross a plug.....if someone studies with joe his/her curve will be reduced as well.

bottom line---learn how and why markets move and know where the orders are....

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  #33 (permalink)
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lsubeano View Post
I've read both and enjoy each. not a fan of brooks new book. The basics are the same, but beggs is easier to read. Trapped traders and fading weakness. Markets have to move from areas of "support" to areas of "resistsnce" because all the orders are there....

Is trading really so difficult? nooooope...
Are the psychological barriers in trading next to impossible?yuuuup.


Honestly, I'm convinced if a beginner follows beggs book to a T and really takes the time to visualize the market from other traders pov, he/she could be consistent in 1-2yrs.

also...might as well give joe ross a plug.....if someone studies with joe his/her curve will be reduced as well.

bottom line---learn how and why markets move and know where the orders are....

Isubeano,

Does Joe Ross and Al Brooks teach similarly methods?

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  #34 (permalink)
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hollywood
 
Futures Experience: Intermediate
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Posts: 189 since Jun 2010
Thanks: 63 given, 147 received


tradethetick View Post
Isubeano,

Does Joe Ross and Al Brooks teach similarly methods?


Yes and no....but more importantly, they compliment each other. Joe is a fantastic teacher, and
a lot of his teachings are free...his chart scan, spead, options scan emailz are all free....

I'd buy joe's trading the emini and then take a 'tte' webinar.....that's all you literally need to trade profitably.


hope that helps.

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