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Book Discussion: Trading Price Action Trends, Reversals, Ranges by Al Brooks


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Book Discussion: Trading Price Action Trends, Reversals, Ranges by Al Brooks

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  #41 (permalink)
Boksburg, South Africa
 
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Dear BM Forum
I have read the first book at least 5 times and I hate to say this but the new Trends book is just as badly written.
If you are starting in trading, dont waste your time. It requires an understanding of trading terminology which usually gets explained 50 pages later.
Further , his style is scalping the S & P. Thats for experienced traders.Small quick profits and very tight stops
But both books are pure gold and if you have the time and the desire to learn , you will be well rewarded
It took me a year to understand it.
As an aside, when you went to school , you did not learn Maths by skimming through the textbook and then going back to the hard parts. You started on page 1 went to page 2 when you were comfortable with page 1.And thats how you have to treat Al Brooks.
Kind regards
bobc

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  #42 (permalink)
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the 2nd new book "Trading Ranges" arrived over the holidays: I noticed about the first 40 pages or so was a reprint of the intro section of the 1st new book. I would agree the 3 set voluminous work reminds me of "Lord of the Rings" or even Donald Knuth's pioneering set of computer programming books.

jblunt89 and SYLCK, here's my post of H1 and H2 with some diagrams, maybe it will help clarify H1&H2. (Brooks seems to have a habit of previewing concepts in introductory paragraphs, which happens a lot in his first singular book):




A couple other posts with bpa:




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  #43 (permalink)
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SLYCK View Post
It must be me, I'm trying to read his new book but again, I'm already lost after reading the first chapters.

This new book isn't for me. He's talking about H1, H2 and other stuff without clearly explaining them in the first place.

Congrats to the people who manage to follow it. I'm not one of them.

It's kind of ironic don't you think given the fact trading price action should bring a layer of simplicity to your life as a trader not the opposite otherwise why would you want to take this path!

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  #44 (permalink)
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Hey TIYF, it's my opinion and probably those of bpa fans and other pa folks that price action provides a semblance or observed behavior set ,an insight into price behavior alone without reference to lagging indicators. Sometimes it can provide a small fleeting temporary edge into predicting what price will do next. Knowing bpa can also help with confirmations using other systems. And the patterns are universal and timeless according to Brooks. Kind of a like a theory of "physics" behind price movement. Unfortunately , Brook's writing is not quite a breeze to read. It may require re-reading pages and considerable time to get used to his ideas and terminology. It took me a year of reading the first single book to be able to understand what he meant on each page.. and it probably varies for each reader of his book(s).

In the new books, Brooks recommends reading straight through the new book first, skipping the "exploratory" sections at the end of each chapter, then re-reading the book again along with the skipped sections especially if one is new to his material.

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  #45 (permalink)
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Cloudy View Post
Hey TIYF, it's my opinion and probably those of bpa fans and other pa folks that price action provides a semblance or observed behavior set ,an insight into price behavior alone without reference to lagging indicators. Sometimes it can provide a small fleeting temporary edge into predicting what price will do next. Knowing bpa can also help with confirmations using other systems. And the patterns are universal and timeless according to Brooks. Kind of a like a theory of "physics" behind price movement. Unfortunately , Brook's writing is not quite a breeze to read. It may require re-reading pages and considerable time to get used to his ideas and terminology. It took me a year of reading the first single book to be able to understand what he meant on each page.. and it probably varies for each reader of his book(s).

In the new books, Brooks recommends reading straight through the new book first, skipping the "exploratory" sections at the end of each chapter, then re-reading the book again along with the skipped sections especially if one is new to his material.

This got me a few A's...

The SQ3R Reading Method

SQ3R - IT WORKS!

Skim
Write down Questions that you have
Read
Recite/Rewrite
Rewrite/Review

If you truly want to master a book, this method works!!!

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  #46 (permalink)
desert CA
 
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lol, I could never stand doing that sq3r thing. nowadays with kids using their laptops in class, or watching videos while the teacher is talking, texting on their smartphones or whatever.

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  #47 (permalink)
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I'm in his daily trading room right now. He is very patient waiting for trades. Probably a huge reason he is so successful.

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  #48 (permalink)
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bluemele View Post
This got me a few A's...

The SQ3R Reading Method

SQ3R - IT WORKS!

Skim
Write down Questions that you have
Read
Recite/Rewrite
Rewrite/Review

If you truly want to master a book, this method works!!!

Problem is we are in it to master trading

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  #49 (permalink)
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trendisyourfriend View Post
Problem is we are in it to master trading

Oh.... That is why we are here... Then we need to get back to our charts.. haha...

Maybe use the system on your charts too!

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  #50 (permalink)
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bobc View Post
Dear BM Forum
I have read the first book at least 5 times and I hate to say this but the new Trends book is just as badly written.
If you are starting in trading, dont waste your time. It requires an understanding of trading terminology which usually gets explained 50 pages later.
Further , his style is scalping the S & P. Thats for experienced traders.Small quick profits and very tight stops
But both books are pure gold and if you have the time and the desire to learn , you will be well rewarded
It took me a year to understand it.
As an aside, when you went to school , you did not learn Maths by skimming through the textbook and then going back to the hard parts. You started on page 1 went to page 2 when you were comfortable with page 1.And thats how you have to treat Al Brooks.
Kind regards
bobc

I disagree. I tried to read the first edition, with no success. I have almost finished reading the 1st book of the 3. It took me 1.5 months. It was very difficult at the beginning but once you master the terminology and get used to his style, it is not THAT hard to read.

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