finally, i managed find the money and the inclination to buy the Brooks trading course. and i was pleasantly surprised to find that unlike his books this was not a difficult 'view'. brooks had mentioned in his preface to the books, that it was a difficult read that was an understatement! this course can be, unlike his books, be useful to a total newbie. He also recently said that he was learning to articulate his ideas and his method of trading a lot better. About bloody time! However, that bodes well for his followers. For the price of 400 usd, the cost of a family dinner, in an upmarket restaurant, it is a steal. but there is a reason for that: it is the pupil who has to do all the work. i think for me it would be an opportunity to put my trading, which has been to follow his method very roughly, to replicating his method to the letter. i should have done this earlier
a trader must realize that if he decides to use 5 min ,that a 5 min signal cannot lead to a move, that is not appropriate, to the size of a 5 min signal. Which in the larger context, many would call minor. the whole idea of using 5 min is to get more trading opportunities. this for a newbie can lead to over trading. Also Brooks teaches a style of trading, which is called discretionary: which many newbies may feel, is encouraging them to buy or sell, anywhere they feel like. Brooks does often say that management can make the difference between profit or ruin. but it is better that newbies or even experienced traders, do not attempt this and just decide, before the trade, the whole structure of the trade, rather than react, to the market action, which is what management means. scaling in or pyramiding is better left to the more experienced profitable trader. i am more experienced as a loser trader and so i am a philosopher trader. my contact with scaling in has not been very encouraging because the market can do a lot of things that you cannot plan for, and so it is better to exit and enjoy the view for some time till market condescends to be clear again.
one of the most profound things i learnt from Brooks is that most reversals, do not reverse but lead to trading ranges. which most of the time continues in the direction, the reversal was trying to reverse. I have even started talking like Brooks
$400USD. If it is worthwhile, its a small amount. The question is: is it worthwhile (and worth the time)?
Brooks trading course ---> Padu trading course It is time for you to throw away your trading books. Then, clear your mind and write Padu Books. I have burnt/destroyed most of my trading books.
What is interesting to notice is that Padu has said that has been trading for 20 years and now is buying a beginners course. Time in India is a bit different than everywhere else.
It certainly was, for me. (I think I actually paid only about $250 for it, but that was years ago.) Anyway, it’s by far the best “trading education money” I ever spent. Words can’t describe how much better and easier-to-understand it is than the books. I know there are people in all trading forums who are strongly and outspokenly and persistently skeptical about Brooks, and are quick to point out that he’s never shown proof of income from trading and “therefore” they don’t believe him. I don’t care about that. I see that there are also many people in many trading forums openly saying that they would probably never have managed to trade profitably and successfully without what they learned from Brooks. I’m one of them. And however dismissive some people like to be of Brooks, they can’t make us pay back the money we’ve made, over the years, by having chosen to learn from that source. So, for myself, I’m firmly on @padutrader ’s side, in this conversation.
i got his first book in 2007 did not understand a word and it cost me 20 years. but you said it all. 400 usd for what he teaches is dirt cheap