Al Brooks Trading Course (www.brookstradingcourse.com)
|November 29th, 2016, 11:30 AM||#301 (permalink)|
New York, New Jersey/USA
Futures Experience: Intermediate
Favorite Futures: Futures
Posts: 138 since Jan 2013
Thanks: 57 given, 213 received
I guess I would be categorized as an Al Brooks supporter so here goes my argument.
For trading rooms in general, to me it is beyond obvious that practically all are scams. I do not need any proof and do not expect any. The best thing would be if they were required to provide proof because they would all disappear. Then I would bet you would have an outcry from all the uninformed or naive traders that want to be spoon fed trading success.
We all have to live in and deal with the world in front of us, not the utopian ideal we would like to have. The term "buyer beware" and car salesmen come to mind. You cannot regulate away stupidity. Those who go to trade rooms would find somewhere else to squander their money looking for the easy way out.
As for Al Brooks, I have not been in his room but have purchased his books and video course. What I have read is he does not call out trades in his room, he basically points out price action he sees in real time. From what I have seen in his weekly video Q&A on YouTube his own trading style is mostly to scalp one point many times a day but what he teaches in his books and course is more of an intraday swing style of price action trading. So seeing his brokerage statements would not help because apparently his personal trading is not in line with what he teaches. My point is that the Brooks room is not what you would call a classic trading room because no actual trading is done.
Personally I have found the Brooks price action concepts in his books and videos to be a perfect fit with my own trading personality. I have made his price action concepts the foundation of my trading style and I know they work for me. As the foundation of my trading I use Brooks price action only to gauge what the market is doing at the moment. More often than not I have a good handle on what is going on using Brooks price action. But the details of my entries and exits are all based on my own style I have formed through years of watching and trading the market. Having said that not all traders will find the Brooks price action concepts useful or be able to make sense and use them. That does not make Al Brooks a scam.
The way I see it all these people demanding proof from Brooks are effectively requiring proof that "price action" works. To me that is a really silly idea. It may work for me but not you. I find it rather ironic that in trading where absolutely nothing is guaranteed and the market can do anything at any moment people are so stuck on having absolute proof of anything.
So yes I support Al Brooks and think he is one of those in this business that is above board. He teaches how price action works not how to trade as it should be.