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While complex strategies and systems maywork for some traders, understanding price action is all you really need to succeed in this arena. Price action analysis is an effective app-roach to trading today's marketswhether you're involved in stocks, futures, or options. It allows you to focus on the process of trading without being overwhelmed by a complicated collection of trading techniques. And while this method may appear elementary, it can sig-nificantly enhance returns as well as minimize downside risk.
One way to apply price action analysis to your trading endeavors is with chart patterns. Nobody understands this better than author Al Brooks, a technical analyst for Futures magazine and an independent trader for more than twenty years. Brooks discovered ten years ago that reading price charts without indicators proved to be the most simple, reliable, and profitable way for him to trade. Mastering that discipline is what made him consistently successful in trading. Now, with Reading Price Charts Bar by Bar, Brooks shares his extensive experience on how to read price action.
At the end of the day, anyone can look at a chart, whether it is a candle chart for E-mini S&P 500 futures trading or a bar chart for stock trading, and see very clear entry and exit points. But doing this in real time is much more difficult. Reading Price Charts Bar by Bar will help youbecome proficient in the practice of reading price actionthrough the use of trendlines and trend channel lines, prior highs and lows, break-outs and failed breakouts, and other toolsand show you how this approach can improve the overall risk-reward ratio of your trades.
Written with the serious trader in mind, this reliable resource addresses the essential elements of this discipline, including the importance of understanding every bar on a price chart, why particular patterns are reliable setups for trades, and how to locate entry and exit points as markets are trading in real time. Brooks focuses on five-minute candle charts to illustrate basic principles, but discusses daily and weekly charts as well. Along the way, he also explores intraday swing trades on several stocks and details option purchases based on daily chartsrevealing how using price action alone can be the basis for this type of trading.
There's no easy way to trade, but if you learn to read price charts, find reliable patterns, and get a feel for the market and time frame that suits your situation, you can make money. While price action trading doesn't require sophisticated software or an abundance of indicators, this straightforward approach can still put you in a better position to profit in almost any market. Reading Price Charts Bar by Bar will show you how.
This is a graduate level book in trading. It is very profound. Many reads are required to master this Masterpiece. Read morePublished 27 days ago by stevechau
Although the book is difficult to read, it is worth buying. Brooks taught me principles that I had overlooked for 15 years. Read morePublished 3 months ago by walter morris
Great analysis of price action bar by bar... but without the context of a larger timeframe and longer term support and resistance, this work is woefully incomplete. Read morePublished 4 months ago by Peter Walker
Good, concise trading book no question. Price action trading is the only true trading method in my mind. Great book!Published 4 months ago by Jim Wolfe
First of all, let me say this book is in NO WAY for beginners. To get started, you want John Murphy's TECHNICAL ANALYSIS OF THE FINANCIAL MARKETS. Read morePublished 4 months ago by Kenneth A. Iles
Loved the book and learned a lot from it and use the techniques all the time. It teaches so much about expected movements and reversals. Read morePublished 5 months ago by Clinton E. Lancaster
One cannot understand chart reading in a simple sitting; it will take years to learn to be really good. Read morePublished 5 months ago by L.E.B.
I don't like any of he's books. Too complicated and boring. I believe that to be
successful day trader you need to keep everything as simple as possible. Read more