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Al Brooks Trading Course (www.brookstradingcourse.com)


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Al Brooks Trading Course (www.brookstradingcourse.com)

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  #441 (permalink)
 dk27 
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Hello,

when you find such a room, please let everyone know :-)


goodoboy View Post
Hello dk27,

You asked a very good question. Nice. I like it.

My educational trading business line item requirements for me to invest in a trade room like you mentioned are this:

1. Detailed trading performance metrics for minium of 1 (more is better) year and 200 trades. Sim or Live Trades. Recent years.
2. Equity curve for minium of 1 year and 200 trades. Sim or Live Trades.
3. Number 1 or 2 must be shown from a trading platform or broker account statement. It's 2021, I don't want to see no spreadsheet.

Someone show me that, I might show them my money.


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  #442 (permalink)
goodoboy
Houston
 
 
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dk27 View Post
Hello,

when you find such a room, please let everyone know :-)

Sure buddy. Until then, me and my money will stay right where we are.....nice and saved and not scammed.

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  #443 (permalink)
Howard Roark
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bobwest View Post
So I think that even a sincere and actually accomplished trader can only pass on so much to others. Which may not mean you should not listen to them and learn what you can, and pick up pointers and ideas to try out, but it does mean to not try to follow them. I don't think you can.

Bob.

How about unsuccessful traders who are teaching trading?

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  #444 (permalink)
 bobwest 
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Howard Roark View Post
How about unsuccessful traders who are teaching trading?

My opinion is that no one can teach trading. You can learn to do it, but no one can teach you.

I fully understand the outrage at vendors who don't deliver what they promise -- keeping predatory vendors off futures.io is one of my main jobs as a mod -- but they are in business, as are the good ones, because someone is paying them. But their customers are not, at least not as a rule, then going on and succeeding in trading. You can't just follow someone else.

You can get good ideas that you can put to use, and you can benefit from others' experience, but the very, very best of real traders cannot teach you how to trade. The worst ones can't either, obviously.

Even if you "follow" someone religiously and succeed at it, you first had to take it in and make it your own. By the time you have traded enough to make some money, you are trading your own way, no matter how you started out.

We can help each other, we can inform each other, we can share ideas and teach each other many things, but we cannot teach another how to trade. That's something they have to do. Alone.

Bob.

----------------------

Edit: reading this over the next day, I'm not sure I have made my point, so I'll be simpler about it: there is not anything in the whole wide world that is going to ensure that you will become a good trader, other than what you find in yourself: your objectivity, your trade discipline, your loss control, and of course having an understanding of the markets that works for you.

Many of the comments here are about whether someone is really trading, or should be providing some proof like statements or whatever. I will say that most gurus and teachers are teaching something that doesn't work out in the real world, but that even if it does for them, working for you is a different proposition.

There is nothing you can learn from someone else that will make you a good trader, no matter how good it is for someone else, unless you take it up and make it your own, which is something that no one else can do for you. This applies to the really good ones and to the ones that are trash. And the only one who can tell which is which is still you. You won't find trading success outside of yourself. There is work you have to do, so do it.

This has never been a popular thing to say, just a true one.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #445 (permalink)
goodoboy
Houston
 
 
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bobwest View Post
My opinion is that no one can teach trading. You can learn to do it, but no one can teach you.

I fully understand the outrage at vendors who don't deliver what they promise -- keeping predatory vendors off futures.io is one of my main jobs as a mod -- but they are in business, as are the good ones, because someone is paying them. But their customers are not, at least not as a rule, then going on and succeeding in trading. You can't just follow someone else.

You can get good ideas that you can put to use, and you can benefit from others' experience, but the very, very best of real traders cannot teach you how to trade. The worst ones can't either, obviously.

Even if you "follow" someone religiously and succeed at it, you first had to take it in and make it your own. By the time you have traded enough to make some money, you are trading your own way, no matter how you started out.

We can help each other, we can inform each other, we can share ideas and teach each other many things, but we cannot teach another how to trade. That's something they have to do. Alone.

Bob.

----------------------

Edit: reading this over the next day, I'm not sure I have made my point, so I'll be simpler about it: there is not anything in the whole wide world that is going to ensure that you will become a good trader, other than what you find in yourself: your objectivity, your trade discipline, your loss control, and of course having an understanding of the markets that works for you.

Many of the comments here are about whether someone is really trading, or should be providing some proof like statements or whatever. I will say that most gurus and teachers are teaching something that doesn't work out in the real world, but that even if it does for them, working for you is a different proposition.

There is nothing you can learn from someone else that will make you a good trader, no matter how good it is for someone else, unless you take it up and make it your own, which is something that no one else can do for you. This applies to the really good ones and to the ones that are trash. And the only one who can tell which is which is still you. You won't find trading success outside of yourself. There is work you have to do, so do it.

This has never been a popular thing to say, just a true one.

Hello Bobwest,

I 1000% disagree with everything you are saying.

If I am making $1,000,000 a year trading, of course I can easily teach someone else how to make $1,000,000 per year. Duh. I make the trader come to my house and live with me and watch me trade everyday.

People make this trading stuff so hard when it is not. What makes it hard, is no-one knows anyone making $1,000,000 a year that is willing to teach another person making $1,000,000 a year.

Stop making this trading so hard man. It is not. You do not need 10, 000 hours. That stuff is BS and just an excuse to make someone work harder for nothing.

The point is of the thread is a review on Al Brooks and Brooks been selling these courses for yearssss, and not man enough to get on the platform and trade real money, but he wants a trader to put in 10, 000 hours and 5 years. That is BS.

And anyone else selling stuff and can't prove it makes money is running game and suckering people out of money. "ohhhh yeahhh, just put in more time and hard work, until it makes sense to you." LMFAO HAHHAHAHAHAH

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  #446 (permalink)
 bobwest 
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goodoboy View Post
Hello Bobwest,

I 1000% disagree with everything you are saying.

If I am making $1,000,000 a year trading, of course I can easily teach someone else how to make $1,000,000 per year. Duh. I make the trader come to my house and live with me and watch me trade everyday.

People make this trading stuff so hard when it is not. What makes it hard, is no-one knows anyone making $1,000,000 a year that is willing to teach another person making $1,000,000 a year.

Stop making this trading so hard man. It is not. You do not need 10, 000 hours. That stuff is BS and just an excuse to make someone work harder for nothing.

The point is of the thread is a review on Al Brooks and Brooks been selling these courses for yearssss, and not man enough to get on the platform and trade real money, but he wants a trader to put in 10, 000 hours and 5 years. That is BS.

And anyone else selling stuff and can't prove it makes money is running game and suckering people out of money. "ohhhh yeahhh, just put in more time and hard work, until it makes sense to you." LMFAO HAHHAHAHAHAH

Hi @goodoboy,

We seem to have these run-ins from time to time. You certainly have every right to your opinion, as I have to mine. When you say "Stop making this trading so hard man. It is not. You do not need 10, 000 hours. That stuff is BS and just an excuse to make someone work harder for nothing," I don't know who you are talking about. I don't think I have ever said anything about any number of hours to do anything. I also don't think I am making "this trading stuff so hard."

I am saying that you aren't going to learn much from someone else. I am saying you need to learn it yourself. I am saying that looking for outside help is not going to work, and people should just stop. Understand the chart and learn what happens when you trade, and then learn from your mistakes and get better. Don't look for someone to tell you what to do. They won't.

You make the point about a trader who makes a million dollars a year showing someone how to do it, but I don't think any such trader is going to do that, and you don't think so either. We differ in that I don't think the million dollar trader could show someone either, even if they tried to follow them. The person has to get it themselves, not copy another. Once the mentor wasn't there to correct them and hold their hand, the person who tried to copy them wouldn't know what to do.

If you disagree, fine. I notice that almost all you post is about wanting someone to prove to you that they can show you how to trade. I think you are barking up the wrong tree to be looking for this, but it's your tree, so feel free to do so. But I'm saying there is nothing up that tree, and traders should just go and get it for themselves. What I am saying is not complicated.

------------------------

As to Brooks, who sometimes excites a lot of negative commentary, this is something I never have understood, probably because I don't care about Brooks one way or another. If you don't get anything from him, why not just ignore him and find something that speaks to you?

Bob.

------------------------

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  #447 (permalink)
 westernwind 
Cardiff, UK
 
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bobwest View Post
Hi @goodoboy,
Please stop these "LMFAO HAHHAHAHAHAH" statements. You can disagree as much as you want about anything and anyone, but pay attention to forum standards about how you express yourself.

Agreed. As a follower of this thread I welcome robust exchanges of ideas, but the LMFAO stuff just strikes me as immature and unnecessary.

EDIT: And as for teaching systems, which famous old-time trader was it who commented that he could publish the rules of his system in an full-page ad in the WSJ and most people would still find a way of not making money with them? (Richard Dennis or Paul Tudor Jones, somebody like that I think...) I suspect he probably was, and still is, correct. Which is to say that Bob likely has the right of it.

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  #448 (permalink)
 AllSeeker 
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Okay, this is strictly my opinion so take it as such.

Trading is very easy, it takes like 5 min to have new broker and demat account here as long as you are doing this during working hours and willing to put in deposit. In just mere 5 min you can go from never taking a single trade to being a trader/investor.

However, making money consistently is whole another ball game. That requires developing edge and that does take countless hours of homework. And this isn't an one time thing only, can say from personal experience that what was working for me in late 2020 is not working in 2021, had to do the process again and it took considerably less time this time. (But that's probably down to amount of homework done over the years and luck)

Having edge also doesn't mean you will make money, it requires a very willing person to pull trigger, or at least some program to do that for you. In case of "person", that persons psychology and trust in his edge also comes in. Sounds easy but people who have been there and done that will tell you otherwise.

Now there is another aspect to this business, there are people who think they can bypass the above by being willing to shell money to someone who has done above himself and is willing to sell it.

Simple logical reasoning will tell you that this is a gray area and it makes no sense that someone is willing to sell his own edge, no jokes, people don't even like to post charts in fear that it might reveal something even though likely hood of that is very very low, if not impossible. Now one can imagine how unlikely it is for someone to actually spell out his edge and hand hold someone to transfer it for some money up front.

Its baffling to me that people are usually still willing to go the gray area way even though possibility of hitting a "genuine" person is very very low. Now comes the point of how one is going to check if someone is legit or not? You simply can't! Screen shots or videos are not that hard to forge, just think about the money involved and there are people who can do that for far far less just to create mems. There are thousands of whatsapp and telegram groups who give tips/trades and sell courses every single day in my country, and at the EOD they always post +Ve screen shot. For the people I've bothered to track in my early days, they used to also be selective on posting profitable trade and deleting old loss making trade posts. What does that tell us?

Simple logical thinking will also suggest that a person who is making money on his own trade will avoid posting it in advance on any social media. Unless the said person wants to sell something or wants to stroke his own ego. Either way, again a dodgy gray area.

I'm not saying everyone who sells course or mentorship is fraud, I have no way to verify it either way. However, its also true that trading is personal journey and while you can shorten the time to be successful with someones help, you certainly need to do the leg work yourself.

At the end of this long post, in my humble opinion and whatever little experience I've, Al Brooks may or may not be making money but its quite unlikely that I'll by copying him. Knowing that, why send my hard earned money down the drain?

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  #449 (permalink)
 bobwest 
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westernwind View Post
And as for teaching systems, which famous old-time trader was it who commented that he could publish the rules of his system in an full-page ad in the WSJ and most people would still find a way of not making money with them? (Richard Dennis or Paul Tudor Jones, somebody like that I think...) I suspect he probably was, and still is, correct. Which is to say that Bob likely has the right of it.

This was Richard Dennis, who was a successful and fabulously wealthy trader in the 1970's and 1980's, making several hundred million dollars, at a time when a hundred million was real money ( ). Subsequently he lost a big chunk of it when the markets changed character, which is another story but not an unusual one. Systems don't last forever, and if traders don't change, they don't either.

An important thing about Dennis is that he wanted to show that traders could be taught, so as an experiment he recruited a number of people and did in fact teach them personally. He then gave them a large stake to trade with, in some cases quite large, for them to use as they chose.

Their track records were not uniform. Some did well and lasted, some went bust. The reason was the same, and applied to the successful ones too -- they changed the great, millionaire-provided system that he had personally trained them in until it suited them better. Which is what everyone probably would do.

It is important to realize that some did make money, and sometimes quite a lot. And some did not. I remember this when someone says how easy trading is. There may be something more to it than having a "system."

No one is going to come around and offer to sit with you and teach you and then give you a few million dollars to trade what they taught. But this is a real-world case that shows it might not work out as expected. Of course, it might. Who knows? But I wouldn't hold my breath for the millionaire trader to show up with the offer real soon.

And no one taught Dennis in the first place, either. He figured it out himself. Not unusual, I think.

More on the story, with its ups and downs, here: https://en.wikipedia.org/wiki/Richard_Dennis

Quoting from the article:

"In January 1984, after the two-week training period was ended, Dennis gave each of the Turtles a trading account and had them trade the systems they had been taught . During this one-month trading period, they were allowed to trade a maximum of 12 contracts per market. After the trial-period ended, he gave the few of them who had successfully traded the system during the one-month trial, accounts ranging from $250,000 to $2 million of his own money to manage."

Note: "the few of them who had successfully traded the system...."

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #450 (permalink)
goodoboy
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bobwest View Post
Hi @goodoboy,

We seem to have these run-ins from time to time. You certainly have every right to your opinion, as I have to mine. When you say "Stop making this trading so hard man. It is not. You do not need 10, 000 hours. That stuff is BS and just an excuse to make someone work harder for nothing," I don't know who you are talking about. I don't think I have ever said anything about any number of hours to do anything. I also don't think I am making "this trading stuff so hard."

I am saying that you aren't going to learn much from someone else. I am saying you need to learn it yourself. I am saying that looking for outside help is not going to work, and people should just stop. Understand the chart and learn what happens when you trade, and then learn from your mistakes and get better. Don't look for someone to tell you what to do. They won't.

You make the point about a trader who makes a million dollars a year showing someone how to do it, but I don't think any such trader is going to do that, and you don't think so either. We differ in that I don't think the million dollar trader could show someone either, even if they tried to follow them. The person has to get it themselves, not copy another. Once the mentor wasn't there to correct them and hold their hand, the person who tried to copy them wouldn't know what to do.

If you disagree, fine. I notice that almost all you post is about wanting someone to prove to you that they can show you how to trade. I think you are barking up the wrong tree to be looking for this, but it's your tree, so feel free to do so. But I'm saying there is nothing up that tree, and traders should just go and get it for themselves. What I am saying is not complicated.

------------------------

As to Brooks, who sometimes excites a lot of negative commentary, this is something I never have understood, probably because I don't care about Brooks one way or another. If you don't get anything from him, why not just ignore him and find something that speaks to you?

Bob.

------------------------

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Good Morning Bob,

I agree with you and apologize for my rudeness and being un polite to you sir.

Have a good and safe day.

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