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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

  #81 (permalink)
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DarkPoolTrading View Post
Hi all,

Should Al's 3 newer books be read in order? Do they build on each other or can you just pick up any of them?

I have ordered all of them but I am particularly interested in trading ranges at the moment so I was thinking of starting with that one. Unless it is recommended to start with the trends book (which I think is the first in the series).

thanks.

I think u need not read them in order as the basic materials are "repeated" in all 3 books.

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  #82 (permalink)
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In particular, there is a chapter about "best setups" in the third book (chapter 24).

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  #83 (permalink)
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Three Pushes versus Three-Leg Pullback


Hello,

I am reading the first book of Brooks' series "Trading Price Action Trends". In chapter 3, Figure 3.1, he called bar 7 was a wedge bull flag because it was the third push down from the bar 6 high.

In my opinion, since there was an uptrend from bar 2 to bar 6 before the first push down, can I call this Three-push countertrend move (a wedge bull flag) as a "Three-Leg Pullback"?

Thanks


Last edited by mercyman; August 10th, 2012 at 08:13 AM.
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  #84 (permalink)
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mercyman View Post
Hello,

I am reading the first book of Brooks' series "Trading Price Action Trends". In chapter 3, Figure 3.1, he called bar 7 was a wedge bull flag because it was the third push down from the bar 6 high.

In my opinion, since there was an uptrend from bar 2 to bar 6 before the first push down, can I call this Three-push countertrend move (a wedge bull flag) as a "Three-Leg Pullback"?

Thanks

I'm too lazy to pull my book out and look at that particular chart, but I think I understand what you're asking.

Brooks considers any three push pattern to be a wedge. He emphasizes that it's important not to get caught up in names or labels, as it's the behavior that's important. Remember that chart patterns are essentially a picture of the underlying crowd psychology that created them.

You may want to join his forum if you're looking for more in-depth discussion of his style and analysis. That part of his website is free.

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  #85 (permalink)
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salisem View Post
Brooks considers any three push pattern to be a wedge. He emphasizes that it's important not to get caught up in names or labels, as it's the behavior that's important. Remember that chart patterns are essentially a picture of the underlying crowd psychology that created them.

Thank you for reminding me about not getting caught up in names or labels.

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  #86 (permalink)
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These 3 books form the cornerstone of my trading. They require alot of effort, but the payoff is more than worthwhile.

If you consider that Al is providing you with a complete package in these books of how to trade any market on any timeframe in any market condition you might consider that there arent any many books that do the same to such a degree of detail.

They may frustrate you at times, as they did me on many occassions, but once you get to grips with his style and how he views the markets, you will see that the effort reaps dividends.

I am nowhere near finished getting to grips with Als overall approach but as you go along you will see that there are single setups that you can concentrate as you move your way through the material.

In addition you can follow Als daily market review for free on his website which covers his read of the market and explains some terminology.
If you want to fast pace your learning you can also buy archived videos from his daily webinar at the end of each month.

Not easy stuff to learn but when the penny drops you realise the effort is well worth it.

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FYI, there is now an AMA (Ask Me Anything) thread for questions to Al Brooks:
https://futures.io/vendors-product-reviews/26331-al-brooks-ask-me-anything-ask-me-anything.html

Questions posted in that thread will be answered by Al during a live AMA session. These live AMA session dates will be announced in that thread.

Mike

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  #88 (permalink)
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Bar numbering

While trying to read Al Brooks' books previously and interpreting the charts in the books, for a while on live charts I found there is a need to put number on each bar just to follow his style. i have found a bar numbering indicator "BarsSinceSession" to help with the task (I can't recall the indicator is from which thread or from download section). I have made the text color selectable:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



But I preferred a cleaner charts, so I had change the indicator ("BarsSinceSession2")to display only even numbers, and is displayed below the charts:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Both indicators are attached, hope that someone may find it useful.


Regards

Attached Files
Register to download File Type: zip BarsSinceSession2.zip (1.9 KB, 27 views)
Register to download File Type: zip BarsSinceSession.zip (1.9 KB, 14 views)

Last edited by panjm; May 7th, 2013 at 02:19 PM.
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  #89 (permalink)
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Just a note that Al Brooks is back with a special webinar as part of our 16 special events in June for our 4-year anniversary:

Registration:
https://futures.io/webinars/#registernow

Thread:
https://futures.io/traders-hideout/27571-webinar-al-brooks-anticipating-next-trade.html

Also giving away 10 autographed books during the webinar.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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