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Al Brooks - Ask Me Anything (AMA)


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Al Brooks - Ask Me Anything (AMA)

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  #1 (permalink)
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Al Brooks, M.D., will be monitoring this thread so that he may answer any questions that you post here about trading in general.

Please keep in mind that some customer service/technical support issues are best handled through proper channels.

Al Brooks has been a professional trader since leaving his career as an ophthalmologist over 25 years ago. Al Brooks routinely writes as a Technical Analysis contributor for Futures Magazine, and has been the guest speaker at Traders Expo on multiple occasions.

Al Brooks is widely known as a Price Action trader, and his first book "Reading Price Charts Bar By Bar" is one of the most well known books in all of trading. He later followed with three additional books "Trading Price Action Reversals", "Trading Price Action Trends", and "Trading Price Action Ranges".

More recently, Al Brooks has developed a trading course that contains 27 hours of video lecture material with chart analysis and mark-up. The video trading course has been very well received by many.

Al requested that this thread act as a placeholder for questions which he will then answer during the live AMA sessions. So rather than Al replying to posts here, we will accumulate the questions posted here for Al, and then he will answer them during the live AMA sessions. The recordings for those sessions will be uploaded to this thread.

Please make sure your question is clearly stated. Provide a chart with mark-up where necessary. The best questions will receive the most attention.

You can find more on his website:
Brooks Trading Course - Price Action Trading

The futures.io (formerly BMT) "AMA" (Ask Me Anything) series is by invitation only. It is part of a new program we are launching shortly called "Certified Trustworthy", something that has been months in the making. I will provide all the details of this new program as soon as it is ready for launch.

Mike

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I wanted to repeat a portion of what I wrote above, so everyone clearly understands:

"Al requested that this thread act as a placeholder for questions which he will then answer during the live AMA sessions. So rather than Al replying to posts here, we will accumulate the questions posted here for Al, and then he will answer them during the live AMA sessions. The recordings for those sessions will be uploaded to this thread."

Al already spends a lot of his time replying to personal emails or helping clients from his trading room. So he agreed to this thread on the basis that the questions will be presented in the thread, and he can answer them by video (saves the typing).

I'll post the schedule and links for the live AMA sessions here in this thread. I'll work with Al to arrange one soon after we get some questions.

Mike

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hampton bays
 
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hey al, what are best times frames used for priceaction , right now i use 1000tick and i feel i can really read the market well but then it gets to jumpy some times ,

thanks , great books

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benrock View Post
hey al, what are best times frames used for priceaction , right now i use 1000tick and i feel i can really read the market well but then it gets to jumpy some times ,

thanks , great books

Can you give some context?

Are you a scalper? Day trader? Swing trader?

What market are you trading?

Mike

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hampton bays
 
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hey mike thanks

i am a day/swing trader , most of my trades last from 15 min to an hour , i put on my over night trades around 8-12 at night , longest i have held was 2 days ( my goal is to hold longer )

my fav markets are gold, nat gas, russel, nasdaq , all futures !!!

i use 1000 tick for everything entry and 15-60min for fibs and trendlines

thanks

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Al,

Are there any currently active, full-time professional traders that you view as mentors or that have inspired your trading in some way?

Mike

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Al you once mentioned that you benefited from a daily chart review after the close. Can you explain in detail how you think we should go about that process to get the best results from it. Thanks!

 
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I'm curious if you think day trading is harder than say 5 years ago.

"The mind is its own place, and in itself can make a heaven of hell, a hell of heaven." - Milton
 
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Dr. Brooks,

I'm working through your course, reading your books and webcasts. Sim trading on forex with euro, which essentially was a random choice, but as I learn more it seems to be well suited to me as a beginner.

Fleshing out and refining a written trading plan. Gaining confidence with patterns and mechanics. Fewer obvious mistakes. Disciplined about keeping a journal, although sometimes I can't explain to myself why I did this or that. I have, however, reached the point where I can recognize a limited number of relatively attractive opportunities, and have had overall good fortune with those. I'm patient, and wait until I see opportunities that appear clear to me.

I know next to nothing about the instruments themselves. While I have a solid understanding of statistics, I haven't studied any indicators. I don't read books about trading methods, and never watch investment shows on TV.

I intend to start live trading within the next 2 or 3 weeks.

My question: Is my focus solely on the chart and price action adequate, or do you suggest expanding my study to get a broader understanding of trading and different approaches to trading?

Kind regards and thanks!

Kind regards!!
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December 3, 2013


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