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Great discussion. When I joined FIO (my first trading forum, luckily) I recall being blown away at the limitless approaches people were taking, each drummer to a different beat. Literally a million different ways to get there.
I also remember trying to copy a few systems verbatim. Didn't work What I do now is so far removed from what I started with.. an amalgamation of styles and methods that resonate with me, but distinctly my own. As it has to be, really.
I’m joining this thread late but I’m currently reading both Mack and brooks. Brooks is a very in-depth and kind if boring read. It takes a lot to stay with it. You have to be focused and really want to learn his method. Mack On the other hand is much easier to read and simpler to grasp the concept. It’s a great overall understanding of price action and it’s only 100 bucks. I’m new to all of this and have found it somewhat difficult and overwhelming to get even a basic understanding of the different types of trading styles and methods, let alone pick one that might suite me. I will say for me Mack has made understanding PA not so confusing. It’s a good starting point to understanding candle sticks without having to learn all the different indicators and how to use them. I’ve since gone on to looking at all the different indicators and how they work as well. Coming from a place of knowing nothing about this I will say at has been a daunting task. I’ve spent a year now just learning about the markets and indicators and the different types of trading and I still feel like I’ve barely scratched the surface. But Mack has been easy to grasp and has given me a starting point to begin trading with a smaller account and not having to have a complete grasp on all things trading.
Pretty reasonable, in my view, on both counts: Brooks and Mack (PATs).
I do think a person will get more from Brooks, if they will just stay with it.
There is a world of stuff out there, and quite a lot of it is being used and is working for some traders, somewhere. Other traders will tell you that they only lost money with whatever the first guys use.... and both are telling you the truth.
The problem is always in putting something together, step by step, that you can get to work for yourself. No one's actual implementation of Brooks, or anything else, is likely to be the same as anyone else's, and that seems to apply to everything else. So you pick something that speaks to you and you work with it until you can either use it, or decide to move on....
I agree. I think price action benefits every trader though no matter the methodology It builds a foundation and context, and from you there you can build your own system
If I don't learn anything about price action from the course I will be an absolute master in patience which is always a good thing when it comes to trading
Mack very rarely does real-time analysis which I personally find bothersome. He has tons of videos on YouTube which primarily deal with after the fact. Al from what I hear doesn't really commit to any positions in his trading room, I have his books and course though and they are hyper-explicit and not lacking in insight which is far more than I can say for 99.99% of vendors. Mack has a few original ideas himself which again is more than I can say for most vendors but if you only choose one then go with Al in my opinion.
I think you would be best served just observing intraday market activity for a while ( A year at least, study the internals too ), learning advanced technical analysis ( Adam Grimes, Brett Steenbarger, Tom DeMark, Toby Crabel, Kirk Northington ) and rounding things out with volume profile. You can then create your own hybrid methodology which presumably you will trust far more than anybody else`s techniques. Hope this helps.
Btw, I actually have the old but sought after ( Still highly relevant and easier to understand vs other titles ) CBOT publication (PDF) on market profile if anybody is interested.