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Hey all,
Yesterday I was in the trading room and Al was covering the open. He was saying that he wouldn't place a stop order below bar 2, because of the "conspicuous tail" below it. He literally said that if the tail was only 10% he could have entered below, but now that it closed with a tail of like 20% he thought it wasn't a good entry. Another reason he mentioned, was that we very far away from the EMA so that requires more convincing selling for him to short so low.
All logical IMO, however when I look at the daily blog, I see that he marked it as a decent entry below bar 2.
Now you could argue that the entries he marks on the blog, doesn't have to be entries that he would or could take personally? But I still find it odd that he would classify an entry as decent on one platform and speaks against it on another...maybe I'm missing something here?
It's the first time in the trading room for me, so maybe others who have more xp can shed some light on this?
Hi Jeffrey
Al is a very efficient scalper, sometimes when he talks about trades that he would or wouldn't take is talking from his scalper's point of view. So only high probability trades that can reach a scalper's profit in 1 bar or so
It's common for him to say: this is not a high probability trade but it's ok for a swing. Maybe he meant that?
I was honestly confused a bit as well at the start, but then I watched him in the past webinars and realised that he's a great scalper so when he says things like that he's referring to high probability trades
Maybe that's it. Though he didn't specify that it was ok for a swing. I searched the forums and saw someone with the same experience in a different post some time ago.
To confuse you even more there is August 27 almost the same setup and it's not marked as a good sell. The difference is the location. On August 27 bar 2 was trying to break bellow the low of yesterday and September 3 bar 2 was far away from the low of the day or any other support levels. Unfortunately these important context levels like low and high of yesterday and low and high of Globex are not marked on Encyclopedia charts usually.
The trading room in general is inconsistent with the daily report / encyclopaedia.
For example, if there is a big gap up and then two consecutive strong bull bars, Al would say in the trading room something like "big gap up, likely to be a TR open, too far above the MA" etc.
In one video I've seen him keep saying "yes, AIL, but this is too far above the MA, too much risk" etc, as the market kept going higher and higher in a trend from the open situation. The market went up the whole day. Al scalped here and there but at no point did he have a swing position. Or if he did, he didn't mention that.
The next day in the daily report you'd see buy signals under each of those bull bars, and a comment saying something like "big gap up, therefore bull spike, then trend from the open". Remember: the daily report is purely about swing trades.
I didn't mind him sitting it out in the trading room if the situation didn't feel right. That's a great thing. But this hindsight perfection the day after used to drive me crazy.
Then I stopped attending / listening to the trading room completely, and the problem solved itself.
I can imagine, I was referring to one of your earlier post, so good that you reply here.
I was doubting to join the Trading Room to increase my chances of picking the right entries. For example I now have 70% the same entries as in the daily blog and wanted to increase this. But it may be counter productive to join considering these hindsight corrections. I don't know how much the other commentators can pinpoint the daily blog entries live, but if it isn't like 90% of the entries, it won't do much good to my game. Besides getting a different perspective which can be good I guess, but also confusing...
To confuse you even more there is August 27 almost the same setup and it's not marked as a good sell. The difference is the location. On August 27 bar 2 was trying to break bellow the low of yesterday and September 3 bar 2 was far away from the low of the day or any other support levels. Unfortunately these important context levels like low and high of yesterday and low and high of Globex are not marked on Encyclopedia charts usually.
Good find! Indeed exactly the same except for prev. day context. I was training myself on purely the daily blogs, cause going so far back in time on my charts is a mild inconvenience. However now that I know this, I won't do that again 🙂
Maybe this is something they should work on for the future, because going from the course to the trading room is actually a bit overwhelming since way too often you are left wondering if scalping is actually the only way. When I bought AL's old webinars I was actually shocked at the start because he gets in and out very quickly pretty much not allowing any sort of pullback. His way to draw targets and the constant reasoning behind the bulls and bears case is really amazing. But you can't help but feeling that there is some sort of discrepancy between what you are learning and what you see them do
Hi Jeffrey, check out my 2c, but i may have got it all wrong 🫡
Al Brooks shared his thought process on key variables he wanted his students to understand about context, including:
- Micro channels without consecutive bars closing on their lows.
- Prices moving away from the EMA.
- The potential for prices to reverse sooner rather than later.
In the daily review, the entries were marked based on the same concepts but were more technical and systematic:
- Bear breakout with good follow-through = sell at the close.
- Continued selling closes while the premise remains the same.
- Strong bear bar into the bottom = sell.
- Bull reversal bar = cover the short and/or anticipate a pullback and sell.
This is a great topic and thanks so much for bringing it up. I won't speak for the other presenters in the Trading Room but I can give you my own experience.
Presenting in the trading room is not easy honestly. We are juggling our own risk, the trading room software, the pressure of hundreds of people listening along as we're trying to find out the most likely outcome ourselves. If I'm making a call about a bad trade or a good trade that goes bad I don't like it when I'm trading by myself but I feel terrible when I'm presenting in the room. You have to realize that a lot goes on in the back end as well with some folks just not managing their risk properly and doing themselves a lot of harm and we're dealing with a lot of hate anger and frustrations. This makes me (again I'm not talking for others here) sometimes a little bit more hesitant to call out a trade good or bad or maybe when the risk is large I might hesitate to call it a strong setup. You'll hear Al say all the time 'if I would be long I'd trade small'. Which means the risk is probably big or the setup is not that strong.
Anyway, we are normal people too. Trading Room is the type of presentation that you can't prepare for. We don't know what's coming but we try our best every day.
Now, does it mean that because I'm too scared or hesitant to call out something that it should not make its way onto the charts either? No, i think a good long is a good long even if I'm too hesitant to call it out in the trading room at the time. So yes, there is some hindsight eyes looking at a chart at the end of the day but I think the differences between Trading Room and EOD Chart is more to do with the responsibilities I at least feel when presenting. I think if you listen to us a little longer you will understand the difference in tone and voice when a presenter is more confident than maybe in other times.
Thanks again, great question.
Tim Stout
Hi there PB, your generalization of all the traderoom presenters being scalpes is inaccurate when it comes to swing trading. You cannot judge anyone without joining the traderoom sessions consistently. Everyday we calls swing setups, we mark the live charts on higher time frames and smaller timeframes, where bulls and bears going ultimately. Every morning my hourly and 15 min chart is marked, daily chart we examine every morning pre market has marked pricelines saying this is where bulls and bears want to go and we will trade in that direction and how we will trade, including what sort of priceaction, bars we need to look for. Everyday we look for swing setups at certain hours end of start and we trade with it. I think the traderoom members join everyday would speak on behalf of me. It is not fair for you to make comments like "all they do is scalping" and discouraging anyone from joining the traderoom we indeed take swing trades.
I scalp if the market is in LOM conditions. I will never say no to any given time market is handing me great amount of points. We don't know what market you are trading, we don't know what your trading strategy is, how you open and close your trades. So we don't judge you but we try to keep everyone in their trades as long as possible so they can maximize their daily profit taking. Every presenter is very clear on that. You have to join any traderoom long enough to judge anyone.
Anyone in the live traderoom I interact will point out that I regularly ask if people are still holding on to their trades, whether they have exited prematurely. I constantly increase the targets so they can stay in that short or long until those target lines 20/40/80 points away. Yesterday was just another great example how we took that swing trade, and the day before, the day before that. But how would you know this? you are not in the traderoom. We do swing trade and encourage people to stay in the trades, which bars to add to their winning trades, where to scalp initially and how to trail their stops is covered everyday, every session with probabilities.
Jeffery needs to give himself more time in the traderoom but he is naturally looking for people to side with negatively. But everyone knows that Al always point out there is not enough information on the chart with Bar1 and Bar2. And if you have joined a certain enough time, you'd know this that it is hard to take a trade when market has given you only two bars. Al would have said if you want to swing trade, wait for two consecutive bars closing on their lows or highs at the open to determine your Always In direction early on which is rare as we only get trends from open 20% of the time during the week, however, we get TR opens 80 % of the time. So taking a trade with B1 and B2 is never easy. One needs really good experience.
Al marking the encyclopedia charts later on the day is good practice because anyone who actually use the slides training their eye and understanding when the next time this setup occurs, may be taking a buy or sell with B1 or B2 early on is ok. So the encyclopedia charts may have the sell or buy arrows but that is to help those studying to get familiar with it. I never take trades with the first two bars unless I see trend from open. I have joined Al's sessions long enough to know probabilities are low when two bars are overlapping or have wicks.
i'm in the trade room everyday and all the presenters teach from the Brooks price action method. Swing trades are what we look for everyday , and like Al teaches, swings are what new traders should be going for. We may scalp, leave a runner and look for a swing. Definitely worth being in the room along with learning the course to up your game imo.
I was studying Al brooks theory for a long time and the trading room just took my understanding to a completely different level. Presenters help put the cold pieces of theory together into a chaotic live market.
They do say that they personally won’t take swings while trading as they have to focus on teaching as well, but they teach you to trade and think for yourself. They discuss specific swing setups like 5 reversal trading ranges from the open and failure-of-failure patterns. Additionally, they show you how the bulls and bears interact in real time and guide you through traps as they are happening which I didn't understand from the theory at all.
I have been in the trading room for a couple of years now and think it's the best room I have been in since I started trading. All the presenters overlay their tone on top of Al Brooks price action teaching that I have studied on line and in his books.I have learned new things from each of the presenters that I might have missed on my own as I study the online course. Sometimes it allows me to go back to the course with a new lens and see things more clearly.
Examples:
Tim F. allowed me to see that channels really should be traded like a TR. Stay out of Tight TR's and wait for the BO and then look for the swing target MM.
Rose opened my eyes to many things, marking my 15 min chart for Buy and Sell zones for swing targets, point counting at the 5 10 15 20 40 swings, 2 bar setups, how to measure targets...
Tim S. demonstrates most elegantly every session how to find swing targets on the 15 and 60 min charts. I think Tim trades with 2 fingers on the steering wheel while mixing pina coladas : ) he is so smooth!
Brad is like having the encyclopedia come to life. He reminds me that there are 2 sides to every trade and to mind my risk.
Al Brooks presents like an old master who has seen it all. He is very calming and reminds me to have more patience and wait for the better probability set up. He makes it look easy to know when the trader's equation is in your favor. A 'Walmart Trade" does not setup on every one of his sessions but when they do he does not hesitate to point it out.
Do I regret the time and money I have invested in the live sessions? No, I regret that I had to kiss so many frogs before I found these guys. Treat it like a buffet and you will find a few favorite things that will hit the mark.
Hi Tim,
I really want to acknowledge and praise you for such an open-hearted and vulnerable response. It’s not easy to admit the challenges and pressures you face while presenting in the trading room, especially when balancing your own trades and guiding others. Your honesty about the emotional weight of real-time decisions and its impact on your calls is incredibly refreshing.
The way you shared your personal experience and admitted that hesitation sometimes plays a role shows a great deal of humility and transparency. It highlights the deep responsibility you feel towards those listening, which is truly commendable. The distinction you made between live trading and end-of-day charting makes so much sense and clarifies why things may look different in hindsight.
Thank you for being so genuine and thoughtful in your response—it’s a testament to your dedication to helping others navigate the complexities of trading.
In contrast, Rose’s reaction felt more personal and defensive, which was a bit surprising. Instead of just addressing the specific points about scalping versus swing trading, it became more about defending the overall approach and taking a more confrontational tone. While Rose’s passion for the trading room is clear, a more focused and less personal response might have been more constructive.
I’ve been in the Brooks Trade room near two years and trading for 9 years. The moderators in the Brooks Price Action trade room are there for our benefit, not theirs. They have proven their ability to trade as professionals, without exception. Do they scalp? Absolutely. Do they swing? To answer this question, look no further than yesterday’s (9/6/2024) webinar for a current answer to the comment. Do I agree with, or enter every transaction they identify, of course not. Different strokes for different folks. However, from where I sit, I want to scalp a couple of times, in preparation for the possible/probable daily swing. Brooks Price Action moderators make no warranties but they do make better traders. I am certain that if you/we focus, with a positive frame of mind, you/we will be richly rewarded with self confidence and a better trading experience complements of Brooks Trade room moderators. If not, maybe find another alternative.