Reading Price Charts Bar by Bar The Technical Analysis of Price Action for the Serious Trader Book by Al Brooks
Description
This is a real book (not a PDF version).
While new technologies and sophisticated theories promise to take your trading to the “next level,” the truth is that long-term success in this area is rooted in simplicity. This is why Al Brooks created
Reading price charts bar by bar.
In this book, Brooks, a technical analyst at Futures magazine and an independent trader, demonstrates how applying price action analysis to chart patterns can help boost returns and minimize downside risk. Along the way, you will learn how important it is to understand each bar on a price chart, why certain patterns are reliable settings for trades, and how to find entry and exit points when the markets are traded in real time.
These pages detail some of the more useful tools for deciphering price action, including:
Trend lines and trend channel lines
Previous highs and lows
Breakouts and unsuccessful breakouts
The size of bodies and tails on candles
The relationship between current bars and previous bars
And much more
Learning what the market is telling you can be difficult, but with the right approach, you can achieve this goal and make steady profits in the process. Reading price charts bar by bar contains all the information you need to be successful in this endeavor and will put you in the best position possible to make the most of your time in today’s turbulent markets.
Praise for reading price charts bar by bar
– Al Brooks wrote a book that every day trader should read. At all levels, he continued to trade in a simple, direct and accessible manner. By teaching traders that there are no rules, only guidelines, he allowed basic common sense to once again govern how real traders should approach the market. This is a must-read for any trader who wants to know his own path to success. ”
—Noble Dracoln, founder of www.SpeculatorAcademy.com and author of the book Trade Like a Pro and Win the Trading Game
“Al Brooks is a merchant at a merchant. He understands the concentrated energy it takes to be successful in trading and works long, hard hours in front of a computer screen to beat the markets. In his first book on trading, he selflessly outlines his strategy step by step. As a physician and educator in his previous life, he uses his eye for detail and brings the lessons he learned while teaching himself the art of trading to the written page. For those willing to delve deeper into the details of day trading and devote the time and energy to do it seriously and most likely profitably, Al Brooks’ book “Reading Price Charts Bar by Bar” is a must read. ”
—Ginger Sala, Publisher and Editorial Director, Futures Magazine
FROM THE INSIDE SIDE OF THE FLAPPER
While complex strategies and systems may work for some traders, understanding price action is all you really need to do well in this area. Price Action Analysis is an effective application for trading today’s markets, whether you are in stocks, futures or options. This allows you to focus on the trading process without being overwhelmed by a complex set of trading methods. While this method may seem trivial, it can significantly increase profitability as well as minimize downside risk.
One way to apply price action analysis to your trading efforts is through the use of chart patterns. No one understands this better than author Al Brooks, a technical analyst at Futures magazine and an independent trader for over twenty years. A decade ago, Brooks found that reading price charts without indicators was the easiest, most reliable and profitable way to trade for him. Mastering this discipline is what made him consistently successful in trading. Now 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, be it a candlestick 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 it in real time is much more difficult. Reading price charts bar by bar will help you master the practice of reading price action — using trend lines and trend channel lines, previous highs and lows, breakouts and unsuccessful breakouts, and other tools — and shows you how this approach can improve your overall risk ratio and profit of your trades.
Written with the serious trader in mind, this trusted resource addresses the core elements of this discipline, including the importance of understanding each bar on a price chart, why certain patterns are reliable trade setups, and how to find entry and exit points as the markets are traded in real time. Brooks focuses on five-minute candlestick charts to illustrate the fundamentals, but also discusses daily and weekly charts. Along the way, he also examines intraday swing trades — multiple stocks and details buying options based on daily charts — showing how using only price action can be the basis for this type of trading.
There is no easy way to trade, but if you can learn to read price charts, find reliable patterns, and get a feel for the market and time frames appropriate for your situation, you can make money. While price action trading does not require complex software or an abundance of indicators, this simple approach can still put you in a better position to profit from almost any market. Reading price charts bar by bar will show you how to do this.
Technical Analysis Course
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In finance, technical analysis is an analysis methodology for predicting the direction of prices by examining past market data, primarily price and volume.
Behavioral Economics and Quantitative Analysis use many of the same technical analysis tools that,
being an aspect of active management, it conflicts with much of modern portfolio theory.
The effectiveness of both technical and fundamental analysis is challenged by the efficient market hypothesis, which states that stock market prices are inherently unpredictable.
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Course Features
- Lectures 0
- Quizzes 0
- Duration Lifetime access
- Skill level All levels
- Language English
- Students 179
- Assessments Yes
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