Book on Price Action?

[padutrader]

BROOKS BOOK BUT the problem with Brooks is that just by reading the book, you cannot benefit from it. to unleash the true power of it, you must understand the principle behind what is written ........the power of simplicity........ironically simple things are not simple to explain and it is up to you to make a considerable effort to dive into it's deep depths and find the wonderful things that are just waiting for you.
if you understand him you will know the market direction at all times in the most simplest way...but i took 13 years to truly understand what is written.
if it looks like i am a disciple of Brooks, it is because i am. in my 30 years i have not come across any other, who can help a trader to know market direction, in a ridiculously simple way..........to stay in the present and not to get ahead of himself.

but Brooks does not provide instant gratification... in the way that Playboy does.
that is why many scoff at him but those who take the pains to understand his teachings , revere him..... i certainly do

 

[AbbotAle]

The best book on price action is the one you make yourself.

Print (screen dump) all your setups but make TWO charts. The first is at the time of the signal and the second after the signal. This is important because when we have the full picture, ie after the trade, the trade looks simple. But right at the time of the trade, without the subsequent right hand action, the trade normally looks anything but simple.

 

[padutrader]

2 simple trades in gold two charts.....one H2 buy the second L2 sell.......the third chart result of l2 sell i post these charts because someone said gold is not tradeable

 

[heispark]

Just watch free Youtube videos. There are tons of videos out there. More importantly, you need to invest your time watching chart. You need hundreds or thousands of hours to train your eyes.

 

[toon]

Hi Padu,

I don't see H2 or L2 at the entries in your 5 min charts. Did you mean H2 and L2 on 1 min chart? I thought I basically understand Brook's H2 and L1 concept, but I just don't see them at the long or short entries in your charts. Would you mind clarifying? Thank you for the help.

2 simple trades in gold two charts.....one H2 buy the second L2 sell.......the third chart result of l2 sell i post these charts because someone said gold is not tradeableView attachment 237598 View attachment 237599 View attachment 237600

 

[padutrader]

Hi Padu,

I don't see H2 or L2 at the entries in your 5 min charts. Did you mean H2 and L2 on 1 min chart? I thought I basically understand Brook's H2 and L1 concept, but I just don't see them at the long or short entries in your charts. Would you mind clarifying? Thank you for the help.

no i saw them on 5 min......i am no expert on brooks but i will tell you why i think they were l2 and h2

surely i can tell you what i think
but it is very difficult to explain everything here in writing it would take too because these are very simple concepts but with a lot of subtle variations

i would prefer to do it with screen sharing with voice.

let me know if you are ready...i usually do skype but if you prefer something else say so.

i am in India

 

[drm7]

For a more readable (and simpler) version of Brooks' stuff, try Price Action Trading System. "Mack" also posts a youtube video after every trading day (Mon-Thurs) explaining what would have been good trades to take under his system. The guide on his site is about $100, but you could probably pick up his methodology just by going through his hundreds of videos. https://priceactiontradingsystem.com/

 

[murray t turtle]

Do you recommend a good book for "Price Action" learning?

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Among the best;
is your custom made chart book of SPY/QQQ....................................................................... Stick a 50/200 day moving averages on it.
Jack Schwager top trading books= all 4 or 5 of them. Good question. SPY is also good benchmark .

 

[Abbas Ali Khan]

i have not much enough experience but it says bookish knowledge is not more enough to bring good knowledge and experience. we have to be practical.

 

[Coner1980]

Just watch free Youtube videos. There are tons of videos out there. More importantly, you need to invest your time watching chart. You need hundreds or thousands of hours to train your eyes.

Yes great advice. I will start watching some videos on youtube and try to watch charts. I hope I will learn Forex very quickly with the help of these resources.