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Al Brooks Trading Course (www.brookstradingcourse.com)
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Al Brooks Trading Course (www.brookstradingcourse.com)

  #311 (permalink)
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skoa View Post
Not Mike, but my experience has been that you always get this sliding scale of "it's the only thing that works" vs. "it doesn't work at all" with any trading approach. The fact of the matter is, what works for you depends a lot on your trading philosophy.

For me, there was a lot of stuff in Brook's books that provided valueable pieces of the puzzle. There are some things he claims that I don't believe, e.g. an EMA acting as dynamic support/resistance or the explanations he has dreamed up for some of the patterns in the market. But there is also a lot of good stuff in there that definitely helped me read the market bar by bar. The tl;dr of his method is "look for little clues and make a judgement call on what the market is most likely doing".

Hi Skoa,

Thank you for the feedback! I appreciate you sharing your experience.

He does seem to have some good advise for entries on different bars and such and it all looks good on a static chart, but heck I can show good entry examples on a static chart, my problem has always been that these presenter/vendors don't do a live show and tell webinar.

When I started trading I went through the standard holy grail search for a year and found the only place you are going to find that is inside yourself with a lot of work, time and dedication. Screen time has been one of the biggest helps for me as trader. It has helped in recognizing the "personality" and patterns of the market being traded.

I am not yet 100% comfortable with an entry, but the purpose of the question is to find if Brook's methodology may add some additional clues to entries. Sounds like it may be worth watching a few more of the archived webinars.

Thanks,
Chris

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  #312 (permalink)
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What was his answer?

So just like the Brad Pitt character in Se7en, after 10 posts since the webinar, we still don't know what was in the box...

Anyone cares to update us?

https://www.youtube.com/watch?v=kLDhMU5JvMk

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  #313 (permalink)
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Big Mike View Post
Hi guys,

I’ve asked Terry to read this statement on my behalf in today's webinar.

As most of you know, we work extremely hard to provide the highest quality content to our members. I am constantly approached by vendors and I turn down 90% of them, because I don’t believe the content of the webinar would be beneficial to our members. That also could mean the reputation of the vendor is not good, and we don’t want to be associated with them in any way.

It is extremely difficult to find high quality educators and experienced traders in this industry who have a true desire to help people, that value honesty and integrity above profit, and are willing and able to take extremely valuable time out of their schedule to lecture to our members. On top of that, as a trader myself, I must often allow a webinar on a topic or a style of trading that I don’t personally believe in, but that I believe the community as a whole would still benefit from (for example, scalping). It is difficult to balance these things, but we do our best.

In the past, a few mistakes have been made where a vendor was permitted to do a webinar, and then after-the-fact I realized it was a mistake, or they violated our no self-promotion rule. I’m not perfect, and don’t pretend to be. I just do the best I can, always doing what I feel is best for our community. In one example, the webinar was removed from the site because the vendor had such a bad reputation. In other examples, the presenter was simply never invited back .

Unfortunately, most of the so called educators or “mentors” out there focus on making false promises and posting fancy Excel spreadsheets showing how “easy” it is to make money – often charging ridiculous amounts of money to learn their “secret”. Even more unfortunate, there are enough new traders or “new blood” for these dishonest vendors to survive on this type of deception, preying on these rookie traders that simply don’t know any better. The number of “trading rooms” that provide so called “signals” is proof of this problem, leading uneducated rookie traders down the wrong path and causing a sort of never ending loop where traders spend all their time and resources on finding a new trading room, instead of focusing within and working through their problems that are holding back their performance. It is human nature to reach outward for a solution you are struggling to solve yourself -- but to be a good trader, you have to compete against the best traders in the world that figured out a long time ago there is no shortcut, and most of the answers come from within, with due time and gained experience (usually at quite a price).

On FIO, our priority is to be a unique community where we help traders while providing a friendly, constructive and positive feedback environment. I place a great deal of emphasis on encouraging traders to create their own trading journal on the site, because I believe the process of journaling their trades will open their eyes to the true problems they are facing, and allow them to tackle them one by one over time. I have written about this extensively over the years, and I believe that anyone out there right now that is struggling as a trader should take note of what I am saying – start a public journal today, start holding yourself accountable and stop looking to others to solve your problems. If it sounds like a lot of work, it is. Like I said, there are no shortcuts in trading.

I spend a lot of time moderating the forum so that the very tiny percentage of troubled users that stoop to childish behavior don’t ruin the environment for everyone else. Many of you have witnessed how quickly negativity can spread, and if you visit other trading websites you’ll most likely see this type of behavior running rampant. I started the forum 7 years ago because I strongly disliked the options available to me as a trader, because I wanted to spend time in a community surrounded by my peers but couldn’t that so much of the content on the sites was just childish behavior. The signal-to-noise ratio was terrible, and I thought I could do better. Thus, our community was born and I am extremely proud of what we’ve accomplished together.

Why am I stating all of this? Recently there has been a lively discussion about Al Brooks on the forum, and I wanted to address some of it here.

Some members believe they can only learn something from a trader that makes money. At face value that seems to make a lot of sense. But, I would beg to differ. I believe I am in a unique position as the forum administrator, because I get to see the patterns of tens of thousands of users. Over the past 7 years of running the site, I’ve read hundreds of thousands of posts, and statistics would suggest that many of them were not written by profitable traders . Yet, I am a far better trader today than I was before I started the forum, because I’ve learned what the common mistakes and common patterns are from traders that both lose money as well as make money. I firmly believe there is great value in learning from failure, just as there is in learning from success. I personally believe that traders that say there is no value in learning anything from someone that doesn’t have a proven track record of success, are really just using it as an excuse so they don’t have to take responsibility for their own trading. It is far easier to blame others for your failures, for example blaming someone that taught you a bad or unprofitable method – instead of taking responsibility for your own actions.

In a similar light, some members want proof of success by way of trading statements. Some of them have said you wouldn’t hire a plumber or a roofer that had no proven track record at their job, or you wouldn’t hire a doctor with no valid license, so why would you hire a mentor that has no proven track record in trading? Again, at face value that sounds logical. But life is rarely that black and white, and trading is certainly no exception. Ultimately, that is a decision you will have to make on your own, and like most things in trading, it is going to be based on your own beliefs which is going to provide a bias with your decision. My opinion is as I’ve already stated, that quite frankly you should stop chasing vendors to provide some sort of blanket “solution” such as making you a profitable trader. You will not find success in some shortcut such as trying to copy someone else’s methodology. Instead, you need to look at each vendor, indicator, trading room, webinar, etc, as a resource to help you address a specific problem you’ve already identified in your own trading. For example, if you are a scalper you can still find value in listening to a webinar from a swing trader, if you keep an open mind and add some key component to your own trading, instead of trying to just replicate someone else’s behavior.

Here are some questions for Al, so that he can make a comment or a statement. I hope that you consider everything I’ve said above when listening to Al’s answers.

1. Do you tell your students that you are a successful trader, and that you trade for a living, making money from your trading?
2. Do you offer any proof?
3. Anything you would like to add?

Thanks,
Mike



Here is the big difference. Al Crooks, I mean Brooks has made specific claims of trading profitably over the years.

I hear members talking about posters pivoting, but it is only the “Pro” Al Brooks supporters that I see pivoting from the actual issue at hand.
First where those 3 question even asked of Al during the Webinar. Without ever seeing the webinar, I can answer the question. I will wager money Al never showed any proof of his claims. At best, he may have pivoted and put it back on the members like other posters here have done. Typically trickery by most of the TR operators.

One of the best pivots here is where it does not matter if Al trades profitable as they have been able to use Al’s teaching to help them. Interesting how neither Al nor any of those poster can show proof of those claims. The fact is a lot of members here are Vendors or associated with vendors and have an agenda to push Al and the fact that Al cannot trade profitable is not something that helps them sell SW or other products.

Before the “Pro” Al supporters pivot as usual they first need to answer the REAL question. Why does Al refuse to show any proof of his claims of being a profitable trader? The answer is given to us by Occam's razor. Wise men will understand it. Of course if you did not ban folks for simple demanding Al show proof of his claims you might get more posters on that side of the equation. You notice no "Pro" Al person was banned.

So I encourage a Poll with a simple question, "Should Al Brooks have to show proof of his claims as a profitable trader before being allowed to do another webinar here"

And please "Pro" Al supporters answer that question first before pivoting to another question.

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  #314 (permalink)
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  #315 (permalink)
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The user TraderSusan has been banned. Aside from being rude, the user is a duplicate account and also violated forum rules by using an anonymous proxy to post.

I hope you take this into account with any posts written by this user, to understand his true intentions and motivations.




Mike

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.
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  #316 (permalink)
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Why do I get the impression that @TraderSusan is a fake account?

Bla bla necessary posts to hit 10, nearly all one liners, nothing about trading and straight to this topic with a huge post.

edit: Ok just went black as I posted so someone else thinks the same? Two are not connected

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  #317 (permalink)
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TraderSusan View Post
Here is the big difference. Al Crooks, I mean Brooks has made specific claims of trading profitably over the years.

So I encourage a Poll with a simple question, "Should Al Brooks have to show proof of his claims as a profitable trader before being allowed to do another webinar here?"

I agree with Mike that "Some members believe they can only learn something from a trader that makes money" and that isn't necessarily so. And if Al presents himself as an educator only, then there's no need for proof. BUT, that isn't the point where Al is concerned.

IF Al has made specific claims 'of trading profitably over the years' then he needs to put up or shut up. And if he doesn't put up, then I don't think he should be doing webinars here. It's just that simple. And I'd be disappointed in Mike for allowing it to continue if Al makes claims of profitability and won't show definitive proof. If he hasn't made claims of being a profitable trader, then no big deal.

And no one has still said here what his response was.

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  #318 (permalink)
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Rory View Post
Why do I get the impression that @TraderSusan is a fake account?

Bla bla necessary posts to hit 10, nearly all one liners, nothing about trading and straight to this topic with a huge post.

edit: Ok just went black as I posted so someone else thinks the same? Two are not connected

https://futures.io/vendors-product-reviews/23611-al-brooks-trading-course-www-brookstradingcourse-com-32.html#post614478

Mike

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.

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  #319 (permalink)
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I just happened to join FIO yesterday about an hour before the Al Brooks webinar and listened to the webinar. Have been trading for a long time though.

Have been studying and reading his books, the video course currently out and looking forward to his new and improved video course. He has seemed like the real deal. This for some time for me.

At the same time spent a couple/three months in his room listening to him and he seemed to miss a lot of what the market was saying, like missing trends and such. This seemed baffling to me as watching it myself obvious what was happening.

His response during the webinar to the questions asked by Big Mike seemed less than satisfactory.

According to his room he uses Tradestation but IB as a broker. Certainly without looking at any individual trades one would expect comparing his bottom line account month to month would be reasonable. One would expect no added money but higher trend over time. Number of trades might be interesting but no exact info needed.

Personally until he does this at least in a macro sense I will not return to his material further.

His overall material uses a lot of different names and anyone studying it would probably be better to look at Wyckoff if they can find that material.

I will be interested to see how Big Mike handles all this. This forum seems pretty honorable hope it is useful to my skills over time.

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  #320 (permalink)
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Moderator Note


The original 4-week temporary ban for user rwbill, that was scheduled to be lifted on Dec 21, has been extended to a permanent ban. This is due to his actions in creating a duplicate account, again being rude in posts, and using an anonymous proxy -- all against forum policy.

I hope you will consider his actions when reading his posts, and to better understand his true motivations for posting.




Mike

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.

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