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Book Discussion: Reading Price Charts Bar by Bar by Al Brooks
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Book Discussion: Reading Price Charts Bar by Bar by Al Brooks

  #11 (permalink)
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Okay GaryM...the ES and individual stocks so I'd guess his stuff would apply to PA in general.








GarryM View Post
Cunparis,

You are right, when you say it's not light reading. For me, it has been the most difficult trading book I have ever read.

For those who learn better by listening to Al Brooks, try this:

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These events happen a few times a year and Al gives some great ideas in his presentations. He is one of the most popular of the presenters.

Al also suggests that beginners start with the most important chapter, number 15.

In reference to Poocher, Al scalps the emini and then catches an occasional swing day trade on some of the more popular day trading stocks.

Bermarti, I read it once, and really didn't have a clue, it's that overwhelming. I went back and just picked up some tips, that meshed with me, at the time. I am getting ready to start working on it again.

Garry


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  #12 (permalink)
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GarryM View Post
Cunparis,

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I tried to register but it's too late (after Aug 19).

Gary, I didn't skip to ch 15 but maybe I should. Should we start with that chapter here? I plan to study it and then try to find examples on the markets I trade. I'm glad to post them here to share, and if others do the same we could all benefit.

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Online book previews of "Reading PA Bar by Bar"


While you are waiting for your book to arrive:
Reading price charts bar by bar (Open Library)

It is also avaliable as a DNL book... I don't know what the cost is to download, but the online applet is neat.. you can highlight, add Notes and do other good stuff while working through the material... including taking snapshots and annotating them as you wish:
Reading Price Charts Bar by Bar - al brooks, john wiley & sons

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  #14 (permalink)
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Cunparis,

Al Brooks is the one who says beginners should begin at chapter 15.

I found myself jumping all over the place trying to learn his methods,
possibly a little ADD.

Garry

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  #15 (permalink)
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The book is very hard to read. Even harder if English is not your language. I would like someone did a Brooks for Dummies.

I find his EOD comments on his website very useful:
Brooks Price Action - IntegraMOD Default

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  #16 (permalink)
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Ok guys, let's get the ball moving.

First, I suggest everyone read the chapter he recommends, I think it's 15. it's about the best trades. To summarize he's looking for:

- in a trend, a reversal bar after a pullback, entering in the direction of the trend
- after a trendline break, look for a reversal bar after a failed test of the high/low

These are similar to the trading that I do, although I didn't require a TL break to go countertrend, I think it's an excellent idea to reduce risk.

What do you say? Can we post some charts showing these patterns and then discuss them?

Can we agree to keep to the 5 min timeframe? I used to trade ES on tick charts and recently I started trading everything on 5min (except CL which is too wild for 5 min IMHO) and I really like 5 minutes. Gives you time to think and analyze the price action.

As for the market, I think we should leave that open. Stocks, ES, whatever you want. This way everyone can see some other markets they may not usually trade.

Another comment of his that I like is one that I really believe in. If a move comes back to your entry then it's probably not a good move. Cause a good move wouldn't come back to let everyone on. The good ones take off.

There are so many gems in this book..

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  #17 (permalink)
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Here's a trade I learned while reading brooks' book on the way home from work.

Trading is really easy when you let price be your only indicator!

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I just got the book today!


Blz

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  #19 (permalink)
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Blz17 View Post
I just got the book today!
Blz

It's not an easy ready but I hope you will put in the time so that we can discuss it together. I've learned a lot so far. I think there is a lot of ideas that one can incorporate into just about any trading style. I took another reversal like the one I posted above, on CL and made 30 ticks. My best CL trade of the day and it didn't even come from my normal system!

The book is really a gold mine. It'd take a year or more to learn everything in it.

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EMA Gap
In this case, sideways or up trend with gap below EMA

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