BPA trading room Q&A: September 15, 2015
Al was asked for any news on the Trading Course update. Listen to and/or read Al’s response, and watch two sample videos showing the deep level of work and detail that Al is going to. The video samples have no audio, but contain all content and animations stepping through at a readable pace.
Scroll down below videos for audio playback and transcript.
Brooks Trading Course update video samples
Video 19B Support and Resistance
No audio narration (7min)
Video 41A Trading breakouts (Forex)
No audio narration (6min 52sec)
Trading room question audio
Audio duration: 6min 07sec
Trading course update — Seeing is believing
I think until you see it, you really won’t understand just how involved it is. Had I realized in advance that it was going to be as big a project as it is, I would not have done it. But, when I started doing it, I decided that I really wanted to do it well. I probably will never make a significant revision to it again. I think it will have everything that I want to communicate there, and I think it will be much clearer than anything else I’ve ever done.
Richard is going to make a couple of videos of PowerPoints of some of the modules that I’ve done. The current course is about 36 hours long. The new course might be closer to 50. I’ve cut several of the longer videos into pieces, and some of them I’ve cut into three pieces. So for example, ‘Trading breakouts’, I’ll have three videos each, maybe 30 minutes or so.
Everything a trader needs to know
I have no idea what the total length of the course will be. I think it probably will be about 50 hours. You can imagine, it’s thousands of slides, and tens of thousands of little notes on the slides. But it will be really comprehensive and it will have pretty much everything that any trader needs to know. Obviously, it will take a long time for anyone to go through it all, and someone will have to go through it many times to really understand everything. I think a trader does not need to understand everything to trade profitably, but I going to have an incredible amount of information there. And I’m hoping that it will be much easier to read or to watch.
The earlier modules, the first 10 modules or so, some of the slides — maybe 10 percent of the slides — are text, but 90 percent of the slides are charts. And then maybe the last 70 percent of the PowerPoints that I’ve created have charts on every slide. So there are going to be thousands of charts with notes on all the charts, and I’m using animations so you step through one sentence at a time describing things. Some charts — I spend an hour on one chart talking about everything that the chart is trying to show, and it will all be there one sentence at a time.
A hard slog but worthwhile
I have to be honest, at this point it’s really becoming a lot of hard work because I like doing interesting things, and when I started the project, it was new and interesting, and now it’s just becoming work. Pretty much all my free time is going into it, and there’s no way that I can get paid enough to make it worth my while But I’m getting late in my trading career, and I really want to do something special. It’s not like there are a whole bunch of things I like doing. What I like to do is think; I like to sit and think and try to get my ideas clear, and then try to present my ideas, either in books or in the trading room, like right now, or in the trading course.
I do enjoy that, so I’m trying really hard to make it clear. Every day here, I take several questions; on the two websites, I take questions; and then I also [have] people talk with me on the side. And the result is, since I’ve released the last version of the course, I’ve answered thousands of questions, and I’m getting a good sense of what I did not make clear in the current course. With that information, I’m making a special effort to try to make everything that I did not make clear; I’m trying to make it very clear.
Two versions of course: Emini and Forex
Anyway, Richard is going to take a couple of the videos and turn a couple of the PowerPoints and have them stair-step through the animations, and he’ll turn them into videos. The course is about 50 videos, but some of the videos I have divided into two or three. So, in actual fact, the numbers will be one through 50, but 41, we’ll have 41A, and there’ll be another video, 41B, another video, 41C. Instead of 50 videos, there might be 75 or 80 videos. And then I’m also doing a Forex version of the course at the same time, so one course is going to be pretty much all Emini, but the Emini course, traders can trade stocks, or crude oil, or gold, or bonds; they could easily use just the Emini course.
They can also just as easily use the Forex course. The Forex course is entirely Forex charts and all Forex information. The Options part of the course, I’ve expanded into three videos, and I’m hoping that it will be helpful. And the Forex course is comprehensive on everything, from if you’ve never seen a Forex chart, if you’ve never seen any chart — I have stuff right for a person who is just starting out. Plus I have pretty complicated stuff — the kind of stuff that I talk about sometimes in the room: about testing the high close, testing the low close, scaling in; can the scale in traders get out without losing money, and if they cannot, that’s a sign the market wants to go the other way, strength of breakouts.
I’m hoping that Richard is able to put a couple of the videos on the Brooks Trading Course website. They will not have audio; they’ll be just automated, have PowerPoint just run through itself, stair-stepping through the slides and the animations. He’ll just record it with Camtasia or something and then post it up there with no audio so the traders can see what’s going on.
I probably will end up charging a lot more for the course. In part because I feel like I’ve worked so hard on it. And even if I end up making less money from it, it’s just more of a sense of I’m working so hard on the thing, that selling it for $249 [original early-bird price] just doesn’t seem appropriate. So I’d rather charge more even if it means making less just to get some sense that I’m being paid appropriately or appropriate level for all that I’m doing with the course.
How much for ‘everything needed’?
What will the price be? I don’t know. I rely on other people to give me advice on that, but probably, when we start doing the audio, we’ll probably start to increase the price of the course. I doubt that we’ll sell it for less than $349 initially, and we may end up increasing the price as time goes on. We’ll see.
Information on Al’s Online day trading room
thanks for the hard work, thanks for the course, and also for the price, there’s no other courses comparable with this, maybe even for the next 30 years.
Also the current price USD 349 is extremely cheap with all the information, compare with other trading courses easily cost more than that while giving much much less information.
Thanks for your kind comments.
Yes, the course is incredibly good, unbelievable value. And it should surely stand the test of time and likely be considered a classic for a very long time to come.
BTW, this post is quite old and I should have closed comments a long time ago. Will do so now. 😉
Hi Al and Richard,
I just want to say thanks for all the work that is being done to help us newbies 🙂 Richard, was there a mention of an email going out regarding the new videos being released? if so i did not receive one… thanks,
Thanks for your kind words. The new course is not ready yet and I will create a new video sample again soon to show what Al is consumed with!
I send out emails periodically to update all Members and subscribers, so be sure to be on the Members list for early notice. Planning to send another update after I get next sample done, and possibly to include a survey to glean more feedback from all.
Is there any word on when the new course will be available? I haven’t gotten any emails although I’ve seen a couple of posts where you’ve mentioned email updates. Thanks.
Been holding off on update to get a clearer answer as Al keeps adding more stuff to ‘finished’ modules! But nearly at end of all presentations, and after another quality check, will start audio recording. That should be much quicker and Al is happy to consider staged release of completed videos. Guessing that can start before end Q2.
I will put up another sample within next few days and email all members and subscribers with above, or as updated after reviewing with Al.
I have made good use of the course and will be intrigued to see the new one. Congratulations for the best trading course I have seen so far. It has changed my trading from massive loss maker to consistently profitable in less than one year. I was wondering if in the new course there is going to be a section on managing trades. Al often says that an institution selling and an institution buying at the same price will both end up making money on their trades because of their trade management. Often beginners like me will enter a trade and see the price move against me. Early on I would panic and exit at a loss, now I learnt that, depending on the context, patience is key and the price in certain circumstances comes back to help me to get me out of the logjam. It has happened to me mostly out of luck rather than skill I guess. While I understand it is a difficult topic because of the many permutations, perhaps Al would have some suggestions on improving the odds in such situations by scaling in / out of positions, of course depending on context etc. Just a suggestion for a video on “managing trades”.
Thanks for your kind message which I can assure you Al will read and appreciate very much. Would make a lovely testimonial if you were happy to submit one. 🙂
On topic of trade management, yes, Al is tackling this in new course in some depth. Topic applies to many areas of trading so the techniques will appear as needed to suit the trading being discussed.
Do look through the Ask Al topics here as I have extracted a number of questions on scaling in and such. Trade management is a hot topic for questions in Al’s room too! Doing a search in the box at top right for ‘scaling in’ will identify many such articles.
Congrats on turning your trading around so well.
Hi Al and Richard,
I just want to say I have just began to learn. I purchased the course a month ago and watched/rewatch/still watch again and again enthusiastically each video multiple times. Since, I have been going through the books and ordered a month of TR video to watch Al go through different trading days step by step.
Im just learning and so excited to hear about the new releases and FOREX .. I have been demoing a forex account (mainly EU/UJ/GU crosses) and Im beginning to get a little confidence .. at least with MTR. I have to say listening to Al in the TR, I feel like Im looking at xrays and he has a CT scan!
Sorry so long winded, just wanted to say thanks so much for all the hard work you are doing — as a newly minted Al disciple, just want you to know how much it is appreciated!
— Jeff (aka Doc Holliday)
I would like to know whatshould I do to get both emini and forex courses. Should I buy it twice?
No, do not buy course twice! The upcoming new course versions will actually be very close in price action content, with the main difference being that Forex version will use 100% Forex charts only. Forex course is designed for those traders who really trade Forex only – the majority of traders quite possibly.
The Emini course (and perhaps we need a better name than Emini) is certainly suitable for Forex too, and just needs mental switching between ticks and pips mainly. If you trade more than one instrument the Emini version is all you need.
Having said that, many members are asking for access to both courses and this is being considered by Al.
Hope that helps. Again, do NOT buy course twice.
Hi, I would like to know the schedule of the full or partial release of the new trading course. Any news? In fact, do you mind giving me just the PPT first? with the advanced animation used in the PPT, I really think that just the PPTs would be more than helpful for people who have gone through the books and the old version of the course.
I will send an update mailing list message to all tomorrow to let you all know what is happening on update release. For now, looking like staged release starting in Q2.
Ref PPTs only, there is not too much work to do after PPTs completed and really more practical to wait a little more for full video release. Otherwise I waste time creating the timed animations and such. The bulk of work is getting all 50 video PPTs (with more than one video for many) completed without errors. Once done, the narration and editing is less stressful.
Agree that the new format works very well for learning, with or without narration, and should be very popular. Al has worked, and still working extremely hard to create these videos which are no doubt going to be trading masterpieces. Absolutely nothing else out there like it in trading land.
Thanks for you hard think. In fact, after receiving the video, I will definitely put the videos in PDF form as I did for the old course. The purpose of doing so is that I could take notes and make comments directly on the documents. I am not sure whether other course buyers would do this, but from my experience as a student over the past few years, many people prefer to have PPTs or PDFs to assist their learning.
I do think that you will never waste your time by creating the videos. For existing learners, PPTs or PDFs would be actually useful because they will consolidate what people have learned so far and provide additional insights into price actions. On the other hand, the videos are more useful for those people who have just started their learning. Therefore, you and Al will never waste time and efforts by creating the videos and giving PPT and PDF format of course to the existing members. You can always make the PPT or PDF files in protected forms so that no one could ever edit them.
Please consider my suggestion. But whether or not you give us first the PPT or PDF format of the course, I greatly appreciate you and in particular Al’s hardwork.
Please excuse my typos and no editing is possible here.
Would you mind posting the Table of Contents for the course? (that is of course, if it is completed). Don’t worry about it if it is a hassle, I am just very excited to see how it is structured relative to the current one.
Contents broadly following current course but with a few extra videos at start to help beginners with price action terminology and basic charting topics. Also, Al has expanded most topics into 2 or more videos with all having near 100% charts with the advanced animations you see on samples.
Will likely post a contents list on site as soon as Al fixes same, not too far off.
Just purchased the course in anticipation of the new release as I trade forex exclusively now. Hopefully there are others like me to make it worth your time and effort. More than any other educator, the things I’ve learned from Al over the years have become an integral part of my trading.
Thanks for the work you’ve done. It’s helped me tremendously. What I haven’t yet figured out is the importance of volume for decision making. You place your trades based on price action only and I am trying to do the same. But is volume the thing a trader has to pay attention to? Will you add some thoughts in your new course regarding this topic? I believe lots of traders will share this idea.
Most traders should ignore vol 100% for the ES. Experienced traders look at it rarely. For example, I sometimes mention it in the chat room when a 1 min chart has a wedge B or S climax. A small reversal often comes if there is both a vol and tick divergence. Other than that, whenever there is huge vol in the ES, there is almost always a huge bar and great context. Looking at vol is then only a distraction and excuse not to trade when a trade is obvious. Notice that there is no vol for Forex mkts, yet they are extremely popular with traders. And, yes, I will talk about this in the new course.
Hi Al! I was in your trading room for a couple of months last year and have been studying your books and videos. Please let me double check that do I get the new course without extra charge? and would you upload the new videos to your disciples bit by bit? I really appreciate your and administrator’s hard-work!
Hi Wei He,
Yes, we can confirm all members will get access to new course. And it is quite possible we will release new course in stages to get stuff out more quickly. Al is working flat out to complete this masterpiece.
I am an enthusiastic member of the group with great appreciation of Al`s educational efforts. I purchased all 3 books and the original Trading Course videos. I even bought the new course update as an “early bird”. Now I learn that all members will have free access to the update when it comes. Is there any possibility for refunding my 2nd purchase?
Hi Janos. Found your original purchase and will follow up with you. Thanks for your enthusiastic support. 🙂
Can you talk about momentum in the new course. You mentioned it many times but never talked about it specially in your books and videos.
Although I might not use the term as often as I use other terms, like breakout, exhaustion, measuring gap, buy and sell vacuum, buying or selling pressure, these all are about momentum, and they are a centerpiece in the course.
No big deal but think there is 1 slide out of place in 19B. Early on in the section Reversal Down @ Bear TL, the HP to wait slide might be a few slides too soon.
Also will there be a module on trading Strictly Always In especially focusing on what not to do? For me it is easy to buy H and sell L when trying it on the SIM.
Thanks again for everything
If you mean that the text box “Higher probability to wait” does not stay on the screen as long as it should, I agree, but that will not be a problem. When I add the audio, I will adjust the timing of each text box to match what I am saying.
These videos are amazing. I can’t wait to get them and start continue my education/training. Yes, Al, thanks for what has to be a tremendous effort.
My personality lends me to scalping so I certainly hope there will be some good in-depth instruction on the subject.
Great work, i cannot wait for the course to be released. When do you think it will published?
This is a HUGE project. I am creating about 100 very complex PPTs, and then I have to turn them into videos. I am about 80% done with the PPTs. It will then take me several months to record them. Richard will convert the recordings and PPTs into videos, and he will do the editing. We might release them one at a time, or in small groups, as we complete them. I think that it will take at least 6 more months before the English versions of the videos of both the Emini and Forex courses for me to complete my end of the project. Richard is working with people who will translate the website and the videos into several languages.
After I finish the course, I then plan to start recording actual trades several days a week, and I will discuss the management. Richard will create videos. We have put off thinking about the details of this because the course is taking so much time. Once I complete the course, then I will move onto this next project, which I hope will be easier to do.
Wow Al! it is a really ambitious project! I just want to thank you for all the effort that you put into teaching us your Trading Mastery. Because of that i have been able to trade for a living.
Have you considered providing a guide to the videos based upon the experience of the trader, i.e beginner, intermediate, advanced. The guide would state which videos and/or which part of certain videos are best suited for beginners to understand before moving on to more advanced information. I have watched each video about 5 times and each time I ‘hear’ something I did not hear on the previous listen. There is so much information, I need to figure out which information I should be focussing on the most as a beginner.
I really appreciate all of your hard work Al. Thank you.
I have given that some thought, especially since there will be more videos (I have split the longer ones). Once I complete everything, we will probably work on some classification into beginner, intermediate, and advanced.
Video 19B is excellent. In the last section just before the buy climax slides, he talks about bear climax. He says the bull trend is over but I think he means bear trend is over.
Yikes, you are right GSS! Slide 41. I will replace before I get to bed! Well done sir! Update: Done!
Will that be included with our purchase of your trading course or separate doesn’t matter your 1 st course is awesome already i am still not done with it i keep repeating fundamentals or foundations i am really loving the Traders equation and Measured moves.
“we are planning to deliver course online so anyone can access from any device, anywhere.”
Does this mean you will be using flash? I have flash blocked in my main browsers due to all the malware in flash. I go to a separate computer and browser to view these Ask Al videos. Anyway to use another technology such as html 5 video?
Delivery system is still under review with main concern being security of videos. I agree that Flash is a pain but sadly not quite there yet with html 5 also.
Hopefully, the application being used currently may be updated to eradicate this issue. Still researching and thanks for your input and reminder on this.
If you decide to play the videos directly from the website like the current Ask Al videos/audios, you may have to upgrade the website, which you probably plan. But wanted to mention, I have constant problems with playing even the audio uploads. I can’t remember the specific error but it can’t load the page after playing 2-3 audios consecutively. I have to take a pause then try again after 5-10 minutes.
Have had no problems mentioned before, so do please let me know of any error messages you get in future. And tell me what PC/device you are using when errors appear. So many folks these days access sites from mobile phones which are not ideal!
The videos are hosted by Amazon across the globe and should be fine, with no impact on site. The audios are fed from site server and we are getting close to an upgrade for site itself.
Thanks again for your info. I will be sending out a survey sometime soon about the update, and will include these issues.
Al, as always, MANY MANY thanks! Your work is great and so much appreciated! Congrats on a great looking course!
Firstly, this is brilliant. One of the things that I do is to develop visual training decks of complex material that simplify a message. Simplifying is a very difficult task that is both an art and science and I believe you have captured the essence of what you do every day, and how you think very, very well.
Second, thank you for all of your efforts & time. It is very much appreciated by those who are learning price action. If it wasn’t for what you have offered and shared, I think many traders would be searching for the holy grail that doesn’t exist. You’ve created a framework to understand the probability of trading and a fantastic approach.
Looks real good Al. Color coded notes and no audio are all I need even though I’m sure you have plenty to say about each comment. I can’t thank you enough and anxious to learn some more from the best.
As you say Al, it is a lot of work and pain getting all this down on paper (so to speak) – it’s an enormous task. But there are many people who like me will be very pleased and delighted that you persevered. I wish to echo others in thanking you very much for all your hard work and effort Al.
“I’m hoping that Richard is able to put a couple of the videos on the Brooks Trading Course website. They will not have audio;”
The more he can post early, the better. I don’t care about audio. These are powerful enough stand-alone.
Everything is perfect! And be sure that we are all very grateful to you for you huge work that is worth much more than you could charge. Thank you!
Al, Thank you for all the time and effort you are putting into creating these courses. I have your current course which is great, it’s very helpful and instructive. This sample of your new course looks even better. I love how the instructional information is tied to highlighted, color coded portions of the chart. I can’t wait to see the finished product. A bargain at any price.
All the best and thanks again for spending your valuable time on these courses.
Is there going to be am update available for people who already bought an older version of the course ?
Hi Vitaliy, all current course buyers will have access to update without charge.
Nice ! Can’t wait to go over a new things 🙂 Thanks a lot!
Thanks a lot Al, this is awesome, so looking forward to the finished product.
Thank you so much for the great work you are going and update of the course looks great from what is showed and i hope also will ends up great as you wish it to be . Although i bought the course no long time ago but i still didn’t watch them yet , because i put my plan to read your book first I am more observe in reading . Overall what you are doing is amazing . Only one hope this time if possible to you to consider to make Pdf file or print power point for the important set up and rules of take kind of those set up as reference for the reader to look at them when watching the video .
Thank Al for the the good information you are providing it to us
Damn Al! Your powerpoint game got strong! Can’t express how much we’re all looking forward to studying the latest of your works. Charge what you like for it!
The slides are so detailed that they say it all just by themselves. Not much audio should be needed. Let the power of the graphics added to the chart and the great animated explanations speak for themselves. Al has put in so much hard work on this part of the project that the audio portion would probably be a 80/20 ratio (20% benefit to 80% of work effort).
Will the final product be in a format that will run on a Mac?
That’s a cheap price for all that it is. But it would say a lot (it would mean a lot) if there were a special price for those who bought the previous course and/or subscribed to the Chat room (for more than say 3 months). You should charge whatever to make as much money as possible. Not charge a lot to make less (doesn’t make sense). It’s principle, but does not seem beneficial to anyone. Anyone who is buying the new course already sees the value and will appreciate everything that went into it. There is no reason to exact a higher price to feel as though you’ve been ‘paid.’ If you are doing this to cannonize your price action ideas, that is priceless. I’ll will pay whatever. Thanks for your hard work Al.
Yes GSS, update will run on Mac as we are planning to deliver course online so anyone can access from any device, anywhere.
Thanks for all the hard work and effort Al. The new video is well done and a great format for learning.