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Curious to know, i have not read Al Brooks's books neither Lance Begg but i know some of you have studied both. Which author is easier to read and understand ? Which would you recommend if you only had one choice to make ?
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I googled "Lance Beggs", found his site, and noticed this statement in his bio:
"2. What markets and timeframes do I trade?
At the moment I am scalping various currency and index futures markets (primarily the E-mini Russell (TF), the Euro (6E) and the Hang Seng (HSI) on the 1-minute and 1-range or 20-tick charts)."
My question is how is it possible to trade any instrument on a 1 range chart, let alone the ones he mentioned? I can see trading ZN or ZB on a 1 renko chart, but a 1 range chart with TF or HSI seems extreme to say the least. Does he really advocate this?
I subscribe to his newsletter and have seen excerpts from his book. He basically looks at the 1 range to see s&r levels within the bars you can't see on larger time frames. He explains it in a manner that seems to make sense, but I have never tried it and don't know if it's effective or not.
The following 2 users say Thank You to vegasfoster for this post:
let me first say, i am a big fan of lance beggs and what he provides in his weekly emails and on his site. i have read his book and find it to be well written and significant in its content.
that being said, i would recommend brooks book and website. while lance can articulate patterns well i found brooks, while a difficult read in the beginning, is much more insightful of using the mature price action. scalping off a five minute bar or any bar with some depth to it is more comfortable than off of small tick bars.
frankly, you dont need to buy the book just visit the website and once you get comfortable with the abbreviations there is more than ample forum material to review to see what is going on.
The following 7 users say Thank You to trader1512 for this post:
I think there is a difference in what you mean of Lance, because he has written 2 different manuals. 1 about scalping and another about trading the 3 min timeframes ( which can be applied to other timeframes).
I must confess that I have never read anything of either Brooks or Beggs (which I had never even heard of), but there is a lot of good material on TA from the good ol' days...
I would suggest starting there...
If you're going to read contemporary work, I would rather pick up a few books on quantitative finance...
I think if you haven't read the book, you can't say it is good or not, as long as you read the book, and identify the method in the book does help improving your trading, hmm... it is a good book.
Currently im reading Lance Beggs,( Price Action Trader- Intraday Price Swings ). Found it helpful in Multiple Time frame Analysis, 30min TF for Structure , 3min for Trading TF, 1Min for Fine tuning of Trading TF..concepts of SH/SL,sideways markets are good.
Its very easy to follow as Author explained it in simple language.
I haven't yet Finished his books about Scalping though, but i will.
