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priceactiontradingsystem.com

  #10 (permalink)

Elite Member
Chicago IL
 
Futures Experience: Beginner
Platform: Sierra Chart
Favorite Futures: Futures
 
Posts: 117 since Feb 2012
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maxreturn View Post
Hello drw. What I would like to know is how specific the book is in terms of setups? How many are they and are they well defined and effective?

Best Regards
Chuck

The book mainly covers what he calls second entries in a 2-legged pullback (I believe this is similar to Brook's H1/H2 and L1/L2 setups but I'm still reading that book), trading channels, really stresses never count-trend trading, traps (people who fell for a breakout of a double top only to have it go 1/2 ticks higher and fail back into the double top range causing a cascade of buys or sells), identifying trends and ranges. A lot of what is covered is basic trading rules, don't move stops, use the correct size and profit targets. He also employs a scalp and run strategy.

Overall, I'd say it's decent if you are relatively new to price action and/or trading. If you've already read and mastered Al Brooks you probably won't get too much more from it except maybe a different perspective and order management.

Personally I plan on reading this another time or two and continuing with the archive of videos. I think this will give me a pretty good base to continue with Brooks.


Last edited by drw112; March 19th, 2012 at 05:32 PM. Reason: spelling
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