Futures I Trade Show & Brooks Book

[brownsfan019 17]

The Futures I-Trade Show is currently going on and a presenter there is Al Brooks. I think there might have been a discussion about his ideas on here.

 

While clicking around, I found that he has a book for sale now as well. I have it on order to take a look at it.

 

These online events are very convenient and could offer some ideas.

[shad112 10]

sounds interesting...has anybody red the book?

 

 

shad

[swansjr 10]

I've not read his book. But I did see another presentation by him a few weeks back. It was really interesting. He describes himself as a minimalist: Trading from a 15 inch laptop, 5-minute candles and no indicators other than trendlines (if I remember correctly).

 

If I dig it up I'll upload the video. I'm also looking forward to watching his latest presentation later this week.

[swansjr 10]

Take a peek under the video directory for an Al Brooks presentation (.mov format) from a few months back. This was from another Futures I Trade Show. I'll post a link when I have the latest video available.

Edited May 21, 2009 by swansjr

[sevensa 10]

The Futures I-Trade Show is currently going on and a presenter there is Al Brooks. I think there might have been a discussion about his ideas on here.

 

While clicking around, I found that he has a book for sale now as well. I have it on order to take a look at it.

 

These online events are very convenient and could offer some ideas.

 

I have his book and is reading it the second time now. There is some valuable information in it, but the book is reading very difficult. He is talking about patterns early in the book which he only explains in later parts of the book. He also explains many things without showing a chart or picture for more clarification, so it is a bit difficult at times to really folllow what he is saying. When you read the book the 2nd time, things make a little more sense and I still think this is a pretty good book.

 

I get the impression that he really is a trader unlike so many other people writing books and knows what he talk about, but is maybe not that great a teacher or explaining concepts. On the other hand, I could be just a bit slow and take a little bit longer to grasp things, which is probably the more likely explanation.

[roger304 10]

Hello Swan,

I registered for the I show and watched the Al Books new presentation called A Month of Great Trades.

Hopefully you are registered at the show too and can upload the new video on the thread that has the other Brooks video. I don't have the recording software myself to do it. If you need the I show link I can get it for you.

Thanks

Roger

Here is I Show link https://presentations.inxpo.com/Shows/Summit/05-09/Website/index.html

[swansjr 10]

Hello Swan,

I registered for the I show and watched the Al Books new presentation called A Month of Great Trades.

Hopefully you are registered at the show too and can upload the new video on the thread that has the other Brooks video. I don't have the recording software myself to do it. If you need the I show link I can get it for you.

Thanks

Roger

Here is I Show link https://presentations.inxpo.com/Shows/Summit/05-09/Website/index.html

 

Yes, I was registered and did record it. I have yet to watch it. The video (.mov file) is uploaded and you can find it here under the video folder.

[thetatrader1520887476 10]

Al Brooks is a pure Price Action Trader. and the Book Is All about Price Action.

 

The I -trade show will be archived till Aug.

 

I have the book and would agree that it is hard to read. But the information in the book is priceless. Trading is hard and it will take hard work to become profitable at it. maybe when some others get the book we could start a discussion going over the book and Price action.

[thetatrader1520887476 10]

The first 50 pages of the book are available from Wiley @ http://media.wiley.com/product_data/excerpt/52/04704439/0470443952.pdf

 

I think you could find the hole book online if you search for it. But I would just buy the book from amazon ($47) and read the first 50 pages while you wait to get it. I would think you are going to have the read the book at least 3 times any way.

[BlowFish 10]

I liked this. Does anyone have the slides that accompany the I trade show presentations?

[thrunner 10]

Thanks to the swan man from IL for recording and hosting the Al Brooks seminar in Quicktime MOV.

 

Attached are the ~5x reduced and converted versions to SWF or Flash video. The sizes are about 20 and 26 MB. Use something like the free SWF Opener to play if you don't have a player.

 

BF, these SWF are now hosted on TL and are basically slide shows with audio, which may be as good or better than a PDF.

 

SWF Opener setup

Al_Brooks_Trading _Best_Price_Action.swf

Al_Brooks_A_Month_of_Great_Trades.swf

Edited May 24, 2009 by thrunner

[BlowFish 10]

Thanks, these are keepers I think so a reduction in size is welcome (I also dislike quicktime almost as much as I dislike itunes!)

 

What I find particularly interesting is some of the types of action that he fades...micro trend line breaks (fading channel line climaxes is already in my repertoire) I have noticed the phenomenon but not considered trading it, certainly warrants further exploration. Outside bars that have no follow through (followed by a small inside bar near their close) interesting too though I am more apprehensive of that one.

 

All in all an interesting take on PA.

 

As the book has large parts that are commentary on charts I do hope it's edited so that charts and comments are on he same (or facing) pages where ever possible. That would be my biggest criticism of the draft, though he should probably have presented 2H 2L right after trend bars and range/doji's imho.

[BlowFish 10]

Surprised there has not been more interest in this stuff. Here are some quick notes I made to test my understanding of some of his concepts. They may (or may not) be helpful.

 

Trend.

 

Bars making new highs/lows closing with good seperation from the open.

 

Trading Range - Brooks uses the term Doji for simplicity.

 

Brooks Term for absense of trend - Doji, Inside Bars, narrow bars etc. even outside bar can be consolidation if it opens and closes near the same level. Rember he analyses bar by bar so a single bar can be a range (or trend). Context plays a part too.

 

Barbed Wire

 

3 or more sideways range bars.

 

H1 H2, L1 L2

 

Occur in congestion or correction within a trend. H1 is first isolated high in a -ve correction in a bull trend. It marks the end of the first leg. H2 is the second isolated Hi and marks the end of the second leg.

 

H1 H2, L1 L2 variation

 

As above but with a higher close rather than an isolated high. It is the two legged nature of the correction that is important. A Lower time frame will likely isolate the legs more clearly.

 

Some principles.

 

If a market makes 2 attempts to do smething and fails it tends to do the opposite.

 

'Close enough' is good enough. If a patern resembles a good pattern it will likely behave like that pattern.

 

Traps - if you don't apreciate that the exact opposite can happen you will be trapped in and out of trades. Akin to 'in poker if you don't know who the mark is, its you'

 

Patterns.

 

Best Entries are 2nd ones and failed break outs. Very best probablly the 2h in an established trend. (if momentum is strong and or the trend is new you will probabbly only get a 1 legged correction).

 

First one or two bar trend line break often resume trend (i.e. fade and enter with old trend). My observation is you will often get an equidistant (size of channel) correction and then resumption. This is similar to Parsons 'split'

 

Counter trend trade - a trend line break and test (similar to trader Vic). Or failure at (preferably a poke through) channel line (climax) follwed by a test. Must see some strength in new direction. Best are after 3 pushes (so 2 pushes and a test).

 

Treat any 3 pushes as a wedge. (my interpretation needs to be at the end of a trend with lessening momentup/shortening of swing)

[BlowFish 10]

Thought I'd have a crack at application of Al's take on PA

 

First green ^ was a scalp (as counter trend and a doji) however after three pushes down and a poke I though it worthwhile (also a longer term horizontal S line there that I would have looked at trading anyway)

 

First red is with trend, micro channel break and end of two leg correction it is also a LH.

 

Last trade shown is again a 2 leg correction and a LH it is also at a bear trendline (not shown) through previous two highs. got a partial (+5 points) but took the stop to BE+1 too soon. Funnily enough I was thinking hmm trap. I think Al would have probably entered short again but to be honest I thought the bears where starting to look tired so did not.

[roger304 10]

Nice job blowfish. Looks like you are starting to get into the meat of his method. I have just downloaded the video that swan posted and will begin viewing it. I think if a person learns to trade his way they could be very profitable. Well we know he is but it's learning to do what he does that is hard for many. I gotta knuckle down and learn it. I hope others will continue to post here to keep us updated with their experiences.

Roger

[BlowFish 10]

I think if you have a reasonable grasp of 'traditional' price action it won't take too long to get up to speed with the basics of his approach. There are a lot subtleties there too mind. I particularly like some of the 'failure patterns' (for want of a better term), stuff that I am sure most people who have studied price action recognise he presents strategies to capitalise on.

[diablo272 10]

For those who saw that Fancy Bar Timer and said "I have to have that!" like I did, well here you go:

 

Forums - Software Used to Trade Jack Hershey Methods

 

Note: I haven't tested it yet to make sure it works.

[BlowFish 10]

I also like the PRV volume study. Al does not appear to use volume but there appears to be a synergy.

[monad 10]

Thanks to the swan man from IL for recording and hosting the Al Brooks seminar in Quicktime MOV.

 

Attached are the ~5x reduced and converted versions to SWF or Flash video. The sizes are about 20 and 26 MB. Use something like the free SWF Opener to play if you don't have a player.

 

BF, these SWF are now hosted on TL and are basically slide shows with audio, which may be as good or better than a PDF.

 

SWF Opener setup

 

Downloaded the two files and the SWF opener,

installed the latter, but unable to open the files to view, normally when you install any program, it should be in the program folder, and if the exe. file does not appear on the desktop, you can drag it from the program folder.

However nothing doing here,

Apparently it does not like the browser I am running which is Opera.

Any suggestions.

[BlowFish 10]

I use media player classic (a basic lightweight media player) with the K-Lite codec pack (codecs for just about everything you might want to play). Doesn't answer your question but is an alternative way to view them.

[monad 10]

I use media player classic (a basic lightweight media player) with the K-Lite codec pack (codecs for just about everything you might want to play). Doesn't answer your question but is an alternative way to view them.

 

Presume you are referring to Windows media player , is it then just a matter of downloading a free K-lite codec pack off the internet .

 

Anyway transferred the file and SWF to my another computer which I use strictly for charting where there is still windows internet explorer and it is o.k

 

Looks like on the other Opera's java script block was causing the problem.

 

However will try your codec pack and see if the viewing is better.

 

Al Brooks certainly comes through as a competent trader, have not gone through both of them as yet, probably will do it tomorrow, gorgeous day outside to be sitting in front of a computer:))

Am also going through the 50page PDF , lot of price action is consistent with Wyckoff although Al does not use vol, but he does use terms like climax etc and think in his book there is a section with vol.

 

Like you have ordered his book, would certainly be useful not only for my trading but for the learning curve of my family members.

[diablo272 10]

Actually Media Player Classic (aka "MPC") is different from Windows Media Player (aka "WMP"). It is far superior to WMP, and it is free, open source, and as BlowFish said, it doesn't require much space on your hard drive. To clarify, WMP is a Microsoft product, and MPC is not. I alternate between MPC and VLC for video playing, and with these two along with the proper codecs (K-lite codec packs are good), you can play just about anything.

 

MPC: SourceForge.net: guliverkli

VLC: VLC media player - Open Source Multimedia Framework and Player

[stanlyd 10]

Here is a article I read in futures mag once by Al Brooks that I really liked. I am not a sure if this copy of it has pictures of the charts like the mag did but it is still worth a read over.

Five minutes to fame in the E-mini | Futures | Find Articles at BNET

[monad 10]

stanlyd

 

Great stuff, there is a lot going for Al Brooks analysis, guess we should have a thread "Trading Al Brooks Way",

 

think if one has an understanding of wyckoff, it is relatively easier to understand his terms and to visualise what part volume could be playing, although Al himself does not focus on that. But looking at the content of his book on internet, there is a mention of vol I believe. could be wrong.

 

Anyway in Wyckoff forum they have shown that vol. only is relevant when prices approach certain support/resistance zone, trendlines etc.

 

IMO combination Al brooks bar by bar price action and Wyckoff price/vol (EFFORTv/s RESULT) should be beneficial to all traders. and ofcourse to cap it all, add Taylors method and then the focus can only be on the expected trend , and the trading rules for a particular day.

 

BTW the articles do not have charts, do you have them, if so would it possible to upload them here. However have ordered his book, so presume all this stuff would be there.

Edited May 31, 2009 by monad

[BlowFish 10]

I subscribed to see if that gave access to the images. Sadly it didn't so I have sent an email to their support people. I guess they got lost in the wash somwhere.