41 of 47 people found the following review helpful
This review is from: Forex Price Action Scalping: an in-depth look into the field of professional scalping (Paperback)I've read many trading books and books on forex tend to be among the worst even when they come from John Wiley Finance (kind of a very reputable publisher). In contrast, this book is a rather thoughtful discussion about mainly the EURUSD market. The core of the book is a number of practical setups using candlestick charts.
The book (of quality) most similar to this book is Brooks's Trading Price Action Trends: Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Wiley Trading). This is also something that has been picked up by many customers since that book is also cross-listed on amazon for its similarity. Some similarities and differences:
- Brooks uses five minutes charts and the current book uses 70 tick charts (which works out to quite close to 1 minute chart).
- By going straight to the set-ups, the current book is a little bit more practical than Brooks's three volume set.
- Brooks is focused on S&P500 futures trading and the current book EURUSD trading.
- Brooks provide a lot of market commentary on a blog. The author of the current book is pretty anonymous on the Internet. You shouldn't trust the author solely based on having a displayed track record, but it is nice to have.
- Brooks is much more wordy than the current author.
It is not a bad idea to start with Volman's book. If you want more knowledge on daily price movements then you should look into Brooks's tre volume set. (The three volume set has superseded the link provided above.)
I have given this book five stars. That doesn't mean you will make money with the book. You need to develop your own approach. The only thing I am saying is that this book can be a useful building block when you develop your own approach. That is the best conclusion a book on trading can ever get.
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Initial post: Jan 24, 2013 5:50:59 PM PST
Why does this review give me the impression that it is just an ad for pushing Brooks books?
In reply to an earlier post on Jan 24, 2013 9:35:47 PM PST
Not at all. I'm highlighting Brooks because of similarity of approach. Potential buyers might be aware of his approach.
As I noted in the review, I think Volman is a better purchase. If you like it, you can move onto Brooks's three books. Those three books were supposed to be a clearer rewrite of an earlier book, but they are quite opaque.
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