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Al Brooks - Trading Price Action Trading Course

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Many traders cannot watch the market all day long and trade using 60 minute or daily charts. Although most of the examples in the course involve 5 minute charts, there are many that use daily, weekly, and monthly charts as well. Price action traders believe that markets are fractal. This means that bigger patterns are composed of a collection of smaller patterns, and no matter how tiny a chart you examine, you will still see the same patterns that you see on monthly charts. If you look a chart that did not have the price axis on the right and the time axis below, you would not be able to tell if it was a 5 minute, 60 minute, daily, weekly, or monthly chart, or a chart made of 1,000 ticks or 50,000 shares. Why is that? Because charts simply represent human behavior, which is genetically based, and a higher time frame chart is just a bigger collection of behavior.
The course has 2,436 slides and is almost 27 hours long. My goal was to give readers an understanding of how to trade using price action, and I think that this format is a great way to do it.

If you are going to be doing this for a long time, you have to enjoy it. I love my job and have for 25 years, and I still look forward to trading every day. Although you might be able to make more money by pushing yourself to your emotional and physical limits, you will probably hate what you are doing and be unable and unwilling to do it for decades. Life is short and I dont want to waste it on misplaced priorities. Your happiness and that of your family are far more valuable than that extra dollar. Find a style of trading that is right for you and dont worry if you see a successful trader on television who is doing something entirely different and making a fortune.

Traders often take years to discover and accept their comfort zones. Some prefer to take trades with a high probability of success, which is fine, but they understand that there is a trade-off. High probability trades usually have a relatively low profit potential compared to risk. Other traders want a reward much bigger than the risk, and they dont care that this means that they will be taking trades that will lose most of the time. They know that if they manage their trades well and go for a reward that is two or more times greater than their risk, they will make money even if they lose money on 60% of their trades.

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