Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader
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| Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader | |||||||||||||||||||||||||||||
| Reader Reviews 1 - 6 of 6 | |||||||||||||||||||||||||||||
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| 08-01-09 | 4 | (NA) |
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After several months, I finally finished the first reading of this book. There is so much information packed in these pages that I had to read and re-read several chapters many times before proceeding to the next. There's no fluff, no stories and no hand-holding here. As it has already been pointed out, this is NOT a book for novice traders & I agree completely. One should already have a basic knowledge of technical analysis before undertaking this read. Anyone wanting to learn this style would do themselves a favor by obtaining the author's webinars and magazine articles first.
While many have questioned the literary style, or lack thereof, of the author; it must be noted that this is written by a trader and not a professional instructor. The author is a very technical trader who makes a living trading, not from writing books. That being said, the publisher could have done a much better job editing. Fortunately, at request of many, the publisher has made the charts available in large format that are much clearer than in the book. [...] (Review Data Last Updated: 2009-08-02 13:01:55 EST)
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| 07-27-09 | 4 | 2\2 |
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this book has some incredible information by a trader who obviously knows how to trade very, very, well. the problem with this book is that al has his own way of doing things and and his own little names of certain setups that are not typically known by most traders. the explanation of his own setups is demonstrated very poorly in the charts. this book needs a redo and it needs to be setup better so that a trader at any level can have a better understanding of what this guy is trying to teach. this book as it is, is a very hard read. it's like you want the information in your head, but trying to get to it thru this book is a total pain. al, please do another book, but this time, you've got to make your way of doing things a lot easier for all of us to understand and you must use charts to demonstrate that. a lot of charts in your case. thanks.
(Review Data Last Updated: 2009-08-02 13:01:55 EST)
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| 07-23-09 | 5 | 2\2 |
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First of all this is a fantastic book. It is dense because Al Brooks has managed to condense 10 years of experience into a readable size. It is hard to read because reading the market is not easy and trading is hard.
The biggest benefit of price action trading is that you know your risk before you enter a trade (signal bar size + 2 ticks). Scalping half allows you to profit even on moves that reverse quickly (most moves). Letting the other half run lets you profit from trends. Will you be able to read this over the weekend and start making money right away? No. It takes years to be a consistent trader. I had already figured out a few things on my own, but this book possibly saved me 5 years or so it would take me to learn all this on my own. If you are already trading real money, this book is a definite buy. (Review Data Last Updated: 2009-07-27 12:50:39 EST)
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| 07-06-09 | 5 | 1\1 |
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I love this book! It has some very real explanations of how to actually trade price.
I have bought tons of books and other junk in the past two years, but this book is by far the best item I've purchased related to trading. And that includes courses from gurus. We look high and low for the next magic indicator that is going to take our trading to the next level. But if we took the time to understand the essential key to trading....which is understanding price, we'd be well on our way. Be warned, this book is a tough read, and not organized in the most cohesive manner! But once you get ahold of the material, it will be worth it. (Review Data Last Updated: 2009-07-27 12:50:39 EST)
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| 07-05-09 | 5 | 1\2 |
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Dr. Brooks has taken day trading education to a higher plane with his detailed analysis of five minute candle charts in the ES. I suspect many professional organizations will be studying this text thoroughly. Recommended for the experienced professional futures day trader.
(Review Data Last Updated: 2009-07-27 12:50:39 EST)
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| 07-01-09 | 3 | 5\6 |
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I am a trader who, as the author does, uses price action to trade. I advance-ordered this book, because its title promised a detailed discussion of price action well beyond what is generally available in the typical books on trading. In this regard I am not disappointed. The author, who is a scalper, does offer what I consider to be the best presentation of how to select trade entries and exits using price action. This is an approach that many good traders use, but it is an art rarely written about in great detail. If an in depth discussion of bar to bar price action is what you're after, the Brooks' book may be your only choice.
Unfortunately the book has many annoying faults that could have easily been remedied by better writing, careful editing, and better layout and printing. The main fault is the writing. What the text needs is careful editing by one skilled in technical writing and armed with a red pencil. There are too many needless words and too many awkward sentences. Sentences such as "Bar 15 was a break to a new low, and it had a strong bull reversal bar off the new low, and it overshot two bear trend channel lines." (Pg 298) Sadly, this kind of writing confronts us on every page. Presumably, the author meant to say: "Bar 15 broke to a new low but closed as a strong bull reversal bar that overshot two bear-trend channel lines." There are so many run-on sentences that one wonders whether the author is trying to start a war on commas. Punctuation is far too lax. This may seem like nitpicking to some, but these faults, all easily corrected, make reading this book far more of a chore than it ought to be. There is really no excuse for such poor editing in a fifty-dollar book. I suppose the publisher, John Wiley & Sons, is as much at fault as the author. In spite of its faults, this book must be commended on being the first to take on an analysis of price action in such depth. Perhaps with a second edition we will get a book that looks and reads as it ought to. If so, Dr. Brooks' book could potentially find itself in the top rank of books on trading. (Review Data Last Updated: 2009-07-12 07:19:34 EST)
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