Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 49,980 since Jun 2009
Thanks: 32,454 given,
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received
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.
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.
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 49,980 since Jun 2009
Thanks: 32,454 given,
98,212
received
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.
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 ,
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
Trading: Equities, index options and futures options
Posts: 175 since Apr 2010
Thanks: 65 given,
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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!
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?
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 49,980 since Jun 2009
Thanks: 32,454 given,
98,212
received
Al Brooks will be on futures.io (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.
In just a few days, on June 10th, Big Mike Trading will turn 4 years old!
:partywave:
I am extremely proud of the community and everything that we've worked so hard to accomplish together. To say thanks to everyone for a fantastic 4-years, I have …
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.
The following user says Thank You to siger for this post:
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 49,980 since Jun 2009
Thanks: 32,454 given,
98,212
received
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.
