[Resuelto] Will I have a clear understanding of how to possibly analyze a stock chart and how to trade it?

Hi Sudeep,

from my point of view the answer is it depends if you are willing to put in the time and work. If so, you should be able too read the price action from the charts.

It takes time for the mind to get used to all of these and this is for everyone individually.

Yes, you are definitely rushing but I fully understand your question. And the answer is that finishing the course is needed, but it is not enough, you have to practice a lot and get feedback about your reading for you to improve. If no feedback, you can make the same mistakes forever without noticing. 

The way Al gives you the feedback is thru the bar-by-bar analysis and the daily setups section. Compare your reading with his and with hard work you will start seeing trades all day long... 

And once you are comfortable with the EMINI, you can go and trade whatever you want!

I like to trade stocks So I want to be able to look left and see daily, weekly, hourly charts of a stock and be able to tell whats going on with the price action, develop a trading plan and trade the intraday price action of a stock chart based on the knowledge i will have gained from Brooks Trading Course?

Hi Sudeep,

I also had the same question and am still learning and practicing and the answer seem to be yes but it isn't as easy as just finishing the Brooks Trading Course once. That's just the first small step. Next step is hard work, and the step after is more hard work and so on...

Watch the video course twice, thrice, and even more times. Take detailed notes. Simplify the detailed notes into brief notes. Convert the concepts into flow charts if that's your thing. Watch all Al's youtube videos, and again same thing with notes... Review your notes. Review all the Encyclopedia slides. Practice trading in realtime. Review your trades daily. Review your trades at the end of the week. Compare your read with Al's end of day chart and bar-by-bar analysis. Read Al's books and again same thing with notes. Check this forum, read all ludopuig's posts...

In my opinion, there are no lack of resources and things to do to archive our goal, but we have to keep grinding at this everyday. Day in day out. There is no easy route but at least we're on the right path.

I like to quote HUBERT and ludopuig above for further emphasis.

from my point of view the answer is it depends if you are willing to put in the time and work

the answer is that  finishing the course is needed, but it is not enough, you have to practice a lot and get feedback about your reading for you to improve.

with hard work you will start seeing trades all day long

Thank you @water buffalo, @ludopuig, @hubert k. for the  motivation. I am and will be definitely studying hard. My plan is to finish this course and also read books written by AL on price action. I will have more questions as i finish this course. Market has already made me humble few times trying to learn different strategies and applying those strategies to trade the stock market but this time I am determined to learn price action no matter how hard I have to work for it..

thank you again for commenting on my post.

I agree with all the above but also I would say the following:

1.  Trade the good setups that Als course teaches

2.  Generally only take those with a good signal bar

3.  Generally trade with trend but not too late in a trend (trends often start going sideways from beyond the 2nd leg)

4.  Certainly also take reversal trades but be aware that most of them either fail or don't go far (but the risk/reward can make them worthwhile)

5. Be sure you understand whwere to place your stoploss, and where to place your profit target (and, if you like, consider partial profit taking and also trailing stops)

If you really have faith in Al's training I think you'll probably go far enough into it to succeed.

I would change the question you are asking here. The real question is, if I put in the time will I be able to read any chart (no matter the time frame) and analyze what is going on correctly? The answer to your question is simple if you are willing to put in the required time. That needed amount of time varies from person to person.

Watching the course is not the end of the journey. The real journey to learning how to trade never ends because you should continuously sharpen your trading skills. Your first goal needs to be to understand the video course. My definition of successful understanding would be: can I give a lecture in front of an audience and teach that one video to them? In other words, could I teach it as Al did in that particular video? If one can teach it, they have a good understanding of the concept. 

All in all, the secret formula to learning how to trade is persistence with studying and Time. You also have to think a lot about the market. By thinking, I mean pull up a chart and think about what is going on with the price action. If you have trouble understanding what both sides are doing, refer back to the video course until you can better understand what that chart tells you. 

Hope this helps. 

Brad

Thank you! Working on it.

In my experience, there are three parts to learning to trade like Al. The first is to study the course, the second is to learn how to apply that knowledge while trading, and the third is to learn to deal with your emotions while trading.

You can study the course, but if you don't take the time required to master the skill, you won't be successful. You can read a book about how to play the violin, but you'll need to put in the hours to master the skill in order to make music. Trading is the same in that regard.

My advice would be to force yourself to stop feeling the need to rush things. That feeling, that need, is only counterproductive. Accept that it might take years to even understand what's going on.

I'm about a year in, and I'm still learning new things every single day.