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Price Action Learning Strategy
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Price Action Learning Strategy

  #1 (permalink)
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Price Action Learning Strategy

Hi everyone,
i'm reading price action books by Al Brooks,having difficulty to understand it.it assumes readers already know many things about trading for granted.which as a beginner trader i'm not familiar with.
plz suggest me some books that will help me to understand Al Brooks better if read prior to his books,as i am a beginner.i aspire to be a serious trader.
if u had any other price action suggestions in mind(like Lance Brooks,Martin pring,Nial Fuller etc.),feel free to suggest.
Thanks.

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You're at a great place to start learning, futures.io (formerly BMT).
Start right here....
https://futures.io/wiki/trading-wiki/Price-Action

Screen time is going to be very important for you. Once you get a good 6 to 12 months under your belt of screen time seeing how your forex and e-mini's move in relation to news the RTH (regular trading hours or pit trading which is the actual pit the floor traders stand in and place trades with other floor traders and against "paper" and for the most part nowadays basically slowly going away or at least a very reduce force in the market compared to what it once was) and other parts of the day you will understand all those books betters.

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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katalyn View Post
Hi everyone,
i'm reading price action books by Al Brooks,having difficulty to understand it.it assumes readers already know many things about trading for granted.which as a beginner trader i'm not familiar with.
plz suggest me some books that will help me to understand Al Brooks better if read prior to his books,as i am a beginner.i aspire to be a serious trader.
if u had any other price action suggestions in mind(like Lance Brooks,Martin pring,Nial Fuller etc.),feel free to suggest.
Thanks.

If you want to learn how to trade price, I suggest you go to the source: Richard Wyckoff. No indicators, no bands, no envelopes, no candles. Just price on a chart, though you don't even need the chart. If you want to trade indicators and bars and so forth, there are tons of books and courses and software and various other products, but there's nothing new in any of it, and it's often difficult to understand. And expensive.

The essence of trading price can be found here.

The essence of trading price via bars can be found in Appendix D of this pdf (you can ignore the rest for now). The contents of this appendix are from Wyckoff's original course, and they'll tell you pretty much all you need to know about trading price.

And it's all free.

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  #5 (permalink)
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DbPhoenix View Post
If you want to learn how to trade price, I suggest you go to the source: Richard Wyckoff. No indicators, no bands, no envelopes, no candles. Just price on a chart, though you don't even need the chart. If you want to trade indicators and bars and so forth, there are tons of books and courses and software and various other products, but there's nothing new in any of it, and it's often difficult to understand. And expensive.

The essence of trading price can be found

The essence of trading price via bars can be found in Appendix D of (you can ignore the rest for now). The contents of this appendix are from Wyckoff's original course, and they'll tell you pretty much all you need to know about trading price.

And it's all free.

many thanks.
i don't want to be obsessed with indicators like others only to see they're not what they promised to be.so i intend to learn & master only price action.
i'm heading to Wyckoff course.if i went through this repeatedly to master,does it mean it diminishes importance of further reading in price action like Al Brooks/Lance Beggs?if not,plz suggest an actual study order of price action materials.
it seems,nowadays everyone is considering Al Brooks books as bible of price action.

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katalyn View Post
many thanks.
i don't want to be obsessed with indicators like others only to see they're not what they promised to be.so i intend to learn & master only price action.
i'm heading to Wyckoff course.if i went through this repeatedly to master,does it mean it diminishes importance of further reading in price action like Al Brooks/Lance Beggs?if not,plz suggest an actual study order of price action materials.
it seems,nowadays everyone is considering Al Brooks books as bible of price action.

I don't know of anyone who actually trades price these days, but it's not something I want to argue about.

If you're interested in scalping, the DTB to which I provided a link is the best I've found.

If you're more interested in a longer bar interval, whether intraday or not, the original Wycoff course (not the Evans version that nearly everyone uses) is your best bet, particularly Section 7, which is reproduced in the other link I gave you. Some of the original course is no longer pertinent unless you like drawing your own charts. And computers will enable you to follow major stocks, groups, and sectors, along with ETFs and indices without having to consolidate information yourself. If you go here, you'll find both parts of the original course* as well as suggestions for what I call "Wyckoff Lite": what I consider to be the essential elements of the course that are directly applicable to the environment now. There's also a glossary.

The chief problem with beginners is that they're in such a hurry that they never bother to characterize their instruments, much less learn how an auction market works. Therefore, ironically, they take years to learn what they could have learned in months if they hadn't been in such a hurry. The Tortoise and the Hare.

As for a "study order of price action", take a look at the Developing a Plan section of the link I gave you in my earlier post

*The original course is in two parts, the second part focusing on daytrading. However, I much prefer the DTB, even though it was written 22 yrs earlier.


Last edited by DbPhoenix; July 19th, 2015 at 11:30 AM.
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katalyn View Post
Hi everyone,
i'm reading price action books by Al Brooks,having difficulty to understand it.

Even Al admits those books are tough to read. He has a video course that is 250$ with the same information that is fantastic, and has the bulk of the content from the books in it. I strongly recommend it, and would never recommend those books to new folks. That video course is one of the few 'educational' resources i've bought that was worth the price.

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I'm working through the Adam Grimes course now and wish I had found it before I started out. It's the whole package as far as tactics, strategy, and psychology. Best of all it's totally free. I don't have the link as I'm on my phone but just google Adam Grimes course. It'll also dovetail nicely with the other resources mentioned and both reinforce what you have read elsewhere and make you think critically about it. Good luck!


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DbPhoenix View Post
I don't know of anyone who actually trades price these days, but it's not something I want to argue about.

If you're interested in scalping, the DTB to which I provided a link is the best I've found.

If you're more interested in a longer bar interval, whether intraday or not, the original Wycoff course (not the Evans version that nearly everyone uses) is your best bet, particularly Section 7, which is reproduced in the other link I gave you. Some of the original course is no longer pertinent unless you like drawing your own charts. And computers will enable you to follow major stocks, groups, and sectors, along with ETFs and indices without having to consolidate information yourself. If you go you'll find both parts of the original course* as well as suggestions for what I call "Wyckoff Lite": what I consider to be the essential elements of the course that are directly applicable to the environment now. There's also a glossary.

The chief problem with beginners is that they're in such a hurry that they never bother to characterize their instruments, much less learn how an auction market works. Therefore, ironically, they take years to learn what they could have learned in months if they hadn't been in such a hurry. The Tortoise and the Hare.

As for a "study order of price action", take a look at the Developing a Plan section of

*The original course is in two parts, the second part focusing on daytrading. However, I much prefer the DTB, even though it was written 22 yrs earlier.

Thanks again for sharing.


there's too large a difference in our trading experiences to argue with me,i just started.i stay away from numerous oscillators bandwagon,as it seems everyone rely heavily on oscillator & after various experiments or failing large trade try to figure out why it failed.as 90% of traders r losing,it may be theoritically correct to deduce most of oscillator traders also fail.i tend to stay away from mass action,as often times mass fail & only a handful become successful.also,it makes more sense to deal with actual price updown,rather than only mere representation.


however,i am always open to suggestion.so,what other books on systemic trading n indicators u may suggest me?(not some psychology stuff,which is pointless for a noob who don't know actual trading process)


i know rushing to an quick end isn't always the solution,may be a relaxed n steady attitude is optimal.
after all,it's not the end destination that truly matters(i guess who r expert traders experience a boring life of robotic but optimal trading decisions), it's the journey & what comes along the way & how they change you bit by bit-that truly matters.


Last edited by katalyn; July 19th, 2015 at 01:32 PM.
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katalyn View Post
Thanks again for sharing.
there's too large a difference in our trading experiences to argue with me,i just started.i stay away from numerous oscillators bandwagon,as it seems everyone rely heavily on oscillator & after various experiments or failing large trade try to figure out why it failed.as 90% of traders r losing,it may be theoritically correct to deduce most of oscillator traders also fail.i tend to stay away from mass action,as often times mass fail & only a handful become successful.also,it makes more sense to deal with actual price updown,rather than only mere representation.
however,i am always open to suggestion.so,what other books on systemic trading n indicators u may suggest me?(not some psychology stuff,which is pointless for a noob who don't know actual trading process)
i know rushing to an quick end isn't always the solution,may be a relaxed n steady attitude is optimal.
after all,it's not the end destination that truly matters(i guess who r expert trader experience a boring life of robotic but optimal trading decisions), it's the journey & what comes along the way & how they change you bit by bit-that truly matters.

Sorry. When I said I didn't want to argue about it, I didn't mean argue about it with you. I was referring to my having to argue about it for many years. I finally just stopped because there was no point to it. Online daytrading has become a runaway train, and people who stand in front of runaway trains generally don't fare well (pun intended).

As for material, I suggest you study the Wyckoff material I mentioned above first. Then read Developing A Plan. Once you decide what you want to trade, how you want to trade it, and when you want to trade, there may be more for you to look at. But probably not. The market will tell you just about everything you want to know, if you ask it the right questions.

It's not that difficult, and it doesn't take years IF you study first. If you trade first and study later, if ever, then, yes, you could spend five or ten or fifteen years at it and never get past breakeven.

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