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Watching through the courses and Reading through Al Brooks' books has taught me a lot. But, even with all of that I have the same questions that I had 6 months back. Some questions like what makes a lower high a major or a minor lower high?
In a trend as long as market stays above the major lower high, it has a better chance of going up. Even in the course he doesn't fully says what makes a major lower high. He says if market make a new high after a pullback it would be a major lower high, and also adds that it doesn't always have to be a new high.
even with pullbacks, An example he shows on the video course he doesn't count a pullback as a valid pullback even though it has gone above prior bars high (in a bear trend). (I think the example is in trends)
How does he say that? To get to that level should I also practice reading price action like back testing a strategy? Should I get 300+ charts from different days, mark down what I think is a major low and major high (both bull and bear trends), and check the similarities after the marking?
Like check if the pullback is only this many points/pips and last only this many bars when compared to the prior leg, it can be considered a new major higher low and major lower high after a new Extreme in the trends been made, and also check, what makes a major low and high before a new extreme is made, then note down a set of guide lines that works for 60% of times and then follow that?
Not just for this example, What ever doubt that I have thats not been cleared by the books or the trading course. Can I just find multiple examples see what works and then decide myself?
You should be marking up charts with learnings as you go through the course so you can better internalize the concepts. On many occasions, you will answer your own questions at a much deeper level than what you will get from someone else. Use the course for ideas to research topics on your own.
Lastly, I did want to add that Al provides so many resources for free! Absolutely unbelievable. The daily chart markup that Richard does (Al did it from 2019 - 2025 daily) - - it absolutely highlights the Always In concept outlined above. For free. A simple and profitable system (need to understand lecture 13 first).
Sometimes there is just an overwhelming amount of material so between the last response and this one, a simple path that doesn't take years, is possible and briefly outlined. It is why I originally answered the original question, properly, and then erased the answer. But I didn't want to leave the person hanging so I directly provided specific areas to review. Pivots and their movement is a central key aspect to prevent what Al calls "skunk stops". Studying "more" doesn't necessarily lead to an understanding of "why". A lot of times it is simply "studying more" without absorption. That is wasted time - - and time is not renewable.
I'm hopeful that this response helps you in your studies.
Good trades to you!
Review 43D section 2 as it covers one of your important topics well.
and corresponding 44D section 2 :).
Final aspect, because so many things are nuanced: Al's formal definition of a higher low - - -
"A major higher low is a new higher low that has a strong reversal up, usually to a new high, but not necessarily" [45D: 03:12]. What makes this important is "strong" is structural. Trading and market state awareness is structural. Position sizing and profits are structural.
It is very possible to "study" for years and not learn what is appropriate because most "traders?" are not profitable and do not understand what to study [everyone is a "trader" now adays. . . ]. Al's BTC course covers the full gamut of situations so some aspects, which are critical, may not be obvious but are certainly covered. It is a very professional course. That is why a strong forum for good questions is important.
If you review what has been outlined, you should find the answer you are searching for.
Good trades to you!
Hey Eric,
What do you mean with Study the wrong for years? Because I can Study AL Brooks for years and can do it wrong in my opinion. The Informations from Brooks Are all Right, thats what I belive and what the Chart is telling me. But way harder it was for me to Figure out when to use wich Concept and how to use it at trading.
AL Brooks explains in my opinion every Part of a car for example, but this doesnt mean that you know how to Build one.
There isnt a guid from al how to start in the day or how the Chart Builds up.
What do you think about this, how do you Managed this Problem, if you had that? I think thats one of the hardest Parts for beginners, that there isnt a ground to start from.
Are you trading the AL way?
Best regards
One of the difficulties of learning trading is that individuals, especially if they are training themselves, make very large assumptions about both the skillsets and the material that they are required to understand to become profitable.
Al's material is phenomenal, and I'm very appreciative that someone took the time (and especially that it was Al) to actually create real material. Yes, I not only use BTC, I have both taught and understand the "whys" of how the different aspects work. My background parallels Al's in many ways. He is a doctor. I am a Ai/Ml/Data Scientist (degreed Electrical Engineer). So for me, precision has a lot of meaning and Al literally built the encyclopedia of how markets function (and without the computer assistance that is available today - - -just amazing).
It took me a very, very long time. I had trained some aspects but initially didn't consider some things and ended up "digging myself" into a risk avoidance hole. Most individuals who self train may end up in that hole, and it isn't an easy hole to work out from.
The best route is to have guidance from someone who understands both the process and is profitable (they are not the same). Al's material should be reviewed many times. In his first book he outlines that charts should be marked up daily to see "what works". That is an important underlying concept - - what consistently works? That is what Al is doing as he evaluates the market, in real time - - what is working, what is the bias, where are stoploss and profit targets, where are structures of imbalance?
This is a skillset. The easiest method to "understand this" is to do the beginning lectures and spend a full week on 13 - Always In. It is a central core piece. 13 essentially says -> bias? With a bias, one can "structure a trade" as you will often hear Al say in his recordings. "Can I structure a trade [is there a bias, and what are the risk/reward targets]"? Understanding 13 and reviewing hundreds of charts to understand Always In, is the quickest route, in my opinion, to begin to have a reasonable basis to trade profitably. The Encyclopedia is exceptional, and again, the question becomes how best to "use the material".
Everything that Al has put forward is correct and covers everything. He is brilliant and I'm very thankful. I have answered many questions on this forum in earnest to help others. I'm not guessing, hypothesizing, or "taking a stab" at an answer when I post something. Sometimes I have a little fun because responses can take a little time to formulate. I hope this answer helps you in moving forward.
Good trades to you!
