Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader by Al Brooks

by Brooks

While new technology and complicated theories promise to take your trading to "the next level," the truth is that long-term success in this field is rooted in simplicity. That's why Al Brooks has created Reading Price Charts Bar by Bar . With this book, Brooks—a technical analyst for Futures magazine and an independent trader—demonstrates how applying price action analysis to chart patterns can help enhance returns and minimize downside risk. Along the way, you'll discover the importance of understanding every bar on a price chart, why particular patterns are reliable setups for trades, and how to locate entry and exit points as markets are trading in real time. Throughout these pages, some of the most useful tools for deciphering price action are covered in detail, Trendlines and trend channel lines Prior highs and lows Breakouts and failed breakouts The size of bodies and tails on candles The relationship between current bars to prior bars And much more Learning what the market is telling you can be difficult, but with the right approach, you can achieve this goal and capture consistent profits in the process. Reading Price Charts Bar by Bar has all the information you need to succeed at this endeavor and will put you in the best position possible to make the most of your time in today's turbulent markets. Praise for Reading Price Charts Bar by Bar "Al Brooks has written a book every day trader should read. On all levels, he has kept trading simple, straightforward, and approachable. By teaching traders that there are no rules, just guidelines, he has allowed basic common sense to once again rule how real traders should approach the market. This is a must-read for any trader that wants to learn his own path to success."— Noble DraKoln , founder ofwww.SpeculatorAcademy.com and author of Trade Like a Pro and Winning the Trading Game "Al Brooks is a trader's trader. He understands the focused energy it takes to be successful at trading and works long, hard hours in front of the computer screen to beat the markets. In his first trading book, he outlines, selflessly, his strategy step by step. A doctor and educator in his previous life, he uses his eye for detail and transfers lessons he learned in training himself on the art of trading to the written page. For those who are willing to delve into the details of day trading and dedicate the time and energy to do it seriously and most likely profitably, Al Brooks's book Reading Price Charts Bar by Bar , is a must-read."— Ginger Szala , Publisher and Editorial Director, Futures magazine

Genres: Finance, Business, Nonfiction, Money

Hardcover

First published March 23, 2009

Reviews

[Qbo2078 · Rating 4 out of 5]

Read through 100 pages before giving up. This book is insanely rich in material, however that simultaneously is its weak point. The book being packed with huge amounts of info, is insanely difficult to read and you will find yourself being confused and overwhelmed by even just a paragraph of information. Al Brooks rewrote and elaborated the material in this book into three separate books which are written in a more comprehensive manner. Still however, it is not recommended for absolute beginners.

I give this book a 3.5/5. It's amazingly informative. There's 1 point lost on the effort and time required to decipher the huge block of texts. Half a point is deducted from the lack of annotations and poor placement of the charts.

[Jw · Rating 5 out of 5]

The bible for serious traders, bar none.

[Ben · Rating 3 out of 5]

This particular trading book is a bit tough to review.

While on one hand I think Mr. Brooks provides a ridiculous amount of information here, at least with regard to a specific trading methodology, I think his organization and flow were very subpar. This isn't my first rodeo with PA-based trading analysis, let alone a dense trading book, but I think this one suffers from a lack of effort put into readability that comes across as a bit sloppy.

Large sections of the book are devoted to paragraphs and paragraphs of chart analysis, and the constant flipping back and forth on pages to find just the candlestick we were discussing (sometimes there are over a dozen to review) got really tiring and drained my interest. If there were more effort placed in dividing up the information more fluidly I think I'd have enjoyed, and likely absorbed, more of the content.

This might be worth a reread at some point, but I need to let my patience rebuild.

[Peter · Rating 3 out of 5]

Im rating this 3/5 because while most of the material its good, and it does have some interesting set ups for price action trading, the writing style and organization of the whole book makes it almost imposible to keep track of the setups and logic behind them.
Price action/bar interpretation is right on, and in tune with other books on the subject, but the lack of organization and the added difficulty of the author giving "new names" to already known things (MB2 means buying a test of the EMA on a 2nd high/low, Hight 2 to refer to the 2nd high on a rally) makes this a tough non didactical read.
The material and set ups are nice, though nothing ground breaking. I do like his views on some of this classics of price action, but he should get a better editor.
Im going to check out his other books and videos, if any of them are any good I will be rating them for you here at goodreads ;)

[Aler · Rating 5 out of 5]

the bible indeed

study this book over and over and over and over again

[Abhishek · Rating 5 out of 5]

Read the each details of this book is like finishing your MBA degree .But trust me this best book which explain you all the methods that can help you to navigate through your trading path easily . This is book not the book which newbie should pickup .It requires the great effort to read it ,understand it , assimilate it and then apply it .If you are the price action trader you should definitely read this book.

[Zach · Rating 1 out of 5]

This was a struggle to read. I almost quit multiple times, but kept pushing through for the info. However it wasn't worth it, the info could easily be gained in other books written better than this.

Please don't waste your time reading this.

[Gan Mingsheng · Rating 3 out of 5]

hard to read, but fairly insightful

[Tom · Rating 5 out of 5]

Excellent book for beginner education. Could have been made abit clearer with better pattern identification. There are better books out there, but this is still worth the read and used for future referencing.

[Julia · Rating 4 out of 5]

Takes a huge amount of willpower and concentration to finish this book. Even so, I had to skip a few pages now and then when it became overwhelming.

This is a no nonsense book on reading price action. Even though, like all other TA books, some analyses came across as a tad hindsight driven, the author was able to use a consistent approach to highlight how he came to the interpretations.

I would say it is very enlightening and provided me with fresh perspectives for my own trading.

[Haile · Rating 4 out of 5]

This is a very serious book. Also tough!

1.I recommend a follow up from Brooks website where he reviews bars Daily so as to make good sense of what he's written here.

http://www.brookspriceaction.com/view...

2. Download End-of-Day Market data and follow through,if you're also that serious.

[Mattail · Rating 1 out of 5]

Note to self: He is a trader, not a writer. Very hard to read, basically slogged through the entire book. Lots of information, not well presented (either that or there is something wrong with my comprehension skills)