There is a reason why there is no other comprehensive book about price action written by a trader. It takes thousands of hours, and the financial reward is meager compared to that from trading. However, with my three girls now away in grad school, I have a void to fill and this has been a very satisfying project. I originally planned on updating the first edition of Reading Price Charts Bar by Bar (John Wiley & Sons, 2009), but as I got into it, I decided instead to go into great detail about how I view and trade the markets.
My primary goal is to present a series of comprehensive books on price action that addresses the greatest concern among readers, which was how difficult my earlier book, Reading Price Charts Bar by Bar, was to read. I am deeply appreciative of all of the constructive comments that readers have provided and those from the participants in my daily live webinars. Many of these comments were incredibly insightful, and I have incorporated them in this current edition. I am also thankful to all of the traders who have been in my live trading room, because they have given me the opportunity to say things repeatedly until I could clearly articulate what I am seeing and doing. They have also asked many questions that have helped me find the words to communicate more effectively, and I have put those words into these books.
I would like to give a special thank-you to Victor Brancale, who spent long hours proofreading the manuscripts and providing hundreds of very helpful edits and suggestions, and to Robert Gjerde, who built and administers my website and has given me candid feedback on the chat room and the website.
All of these terms are defined in a practical way to be helpful to traders and not necessarily in the theoretical way often described by technicians.
If at any time you are forced to decide between initiating a long or a short trade and are confident in your choice, then the market is in always-in mode at that moment. Almost all of these trades require a spike in the direction of the trend before traders will have confidence.
barbwire A trading range of three or more bars that largely overlap and one or more is a doji. It is a type of tight trading range with prominent tails and often relatively large bars. bar pullback In an upswing, a bar pullback is a bar with a low below the low of the prior bar. In a downswing, it is a bar with a high above that of the prior bar.
A Practical Guide to Profiting from Institutional Trading Trends The key to being a successful trader is finding a system that works and sticking with it. Author Al Brooks did just that. By simplifying his trading system and trading price charts in just 5 minutes, he found a way to capture profits regardless of market direction or economic climate. His first book, Reading Price Charts Bar by Bar, offered an informative look at his system but did not allow him to go into the real details of the approach. Now, with this new series of books, Brooks takes you step-by-step through the entire process.
By breaking down its trading system into its simpler parts: institutional piggybacking or trend trading (the subject of this particular book in the series), trading ranges and transitions or reversals, this three-book series offers access to the successful methodology of Brooks. Price Action Trends Bar by Bar details what individual bars and combinations of bars can tell a trader about what institutions are doing. This is crucial because the key to making money in trading is putting institutions on their backs and you can't do that unless you understand what the charts are telling you about their behavior. This book will allow you to see what type of trend is developing, so you can use specific techniques for that type of trend to place the right trades.
For all those who want to learn how to speculate on any financial market using charts and price reading, to read books from Brooks is all or what you need. Brooks created a complete course of all that he learned in his 30 years as a trader and compiled in his trilogy, in an accessible way for all. O conteúdo é denso, better every penny.
A practical guide to profiting from institutional trading trends The key to being a successful trader is to find a system that works and stick to it. Author Al Brooks did just that. By simplifying his trading system and trading price charts of just 5 minutes, he has found a way to gain profits regardless of market direction or economic climate.
A very good book on price action trading by Al Brooks. He provided very detailed and good insight on how to read and understand price action in the trading process. I have to admit that the information provided is not very easy to follow, but will recommend anything that seeks to develop basic price action trading skills.
The graph and their explanation are very detailed at bar level Beginner traders who wish to read this should have a basic understanding of chart patterns such as Wedge, Bull / Bear Flag, Double Bottom / Top, Trendline etc. before jumping to reach this book