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Al Brooks - Ask Me Anything (AMA)


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Al Brooks - Ask Me Anything (AMA)

  #11 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
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Al Brooks will be on nexusfi.com (formerly BMT) Tuesday, June 4th @ 4:30 PM Eastern as part of our special 4-year anniversary. We are also giving away 10 autographed books during that event, and have a total of 15 events planned for June.

More info:


Mike

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  #12 (permalink)
 siger 
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Dr Brooks,

I am currently studying your books that I find extremely interesting (and dense).

You mentioned that you spend 10,000 hours or so working on indicators at the beginning before switching to price action.

I come from a systematic background and, as you, I am moving a bit away from it, partly because I found that "systematic setups" are often too simple to reflect the complexity of the market, or, conversely, because it would take an extremely complex program to reflect realistic setups.

But haven't you tried to mix both approaches?

I mean, being able to rely on solid backtests results is something definitively valuable.
It helps find out if the setups are really EV+ or if, as you mentioned for instance for 1-minute scalping, they are just EV- games in disguise.

Moreover, when you advise beginners to "print charts" and look if a setup works, aren't they just performing a kind of "swallow but complex" form of backtest? (with the downside being that they just remember when the setup was working and tend to forget all the failed ones?)

Personally, that's the road I am trying now. Will see where it leads.

Thanks again for sharing your knowledge with us.

Kind regards.

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  #13 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,399 since Jun 2009
Thanks Given: 33,175
Thanks Received: 101,539


I am closing this AMA thread due to lack of user participation.

Al Brooks will continue to be invited back to futures.io (formerly BMT) to give educational webinars on a variety of trading topics. You can find those in the Webinars section. But it seems the users (and Al) prefer that venue over the AMA thread in this particular case, so I am closing this thread as of now.

Mike

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Report problems with the site: Using the NexusFi changelog thread
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Last Updated on December 3, 2013


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