New book on Price Action

Quote from ckumar88:

Would anyone care to comment on the book, after reading it.
regards.
Kumar
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I received the book a couple of weeks ago and it is packed with a lot of great price action information. However, it is very detailed and is not a light read. When I read it, it feels like I am back in college studying calculus again. As a result, I have not gotten very far. I agree with the first 3 reviews down at the bottom of this Amazon page:

http://www.amazon.com/Reading-Price...=sr_1_1?ie=UTF8&s=books&qid=1242532288&sr=8-1
 
Thanks for your reply. I just got my copy yesterday. In no position to comment on the contents of course, but must say even the typeface looks intimidating.

Kumar
Kuala Lumpur
 
During the last seminar that good ol' Al Brooks gave, did anyone notice that at the end when he was taking questions he was asked what a bad day for him would be? He really didn't answer and more or less made it sound like he never has a losing day. I highly doubt if he is that good.
 
Quote from GiantDog:

During the last seminar that good ol' Al Brooks gave, did anyone notice that at the end when he was taking questions he was asked what a bad day for him would be? He really didn't answer and more or less made it sound like he never has a losing day. I highly doubt if he is that good.
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+1 :D ... they just don't get it (but keep buying the books!). :p
 
Quote from GiantDog:

During the last seminar that good ol' Al Brooks gave, did anyone notice that at the end when he was taking questions he was asked what a bad day for him would be? He really didn't answer and more or less made it sound like he never has a losing day. I highly doubt if he is that good.
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That would apply to 99+% of signal providers or authors...
 
Quote from GiantDog:

During the last seminar that good ol' Al Brooks gave, did anyone notice that at the end when he was taking questions he was asked what a bad day for him would be? He really didn't answer and more or less made it sound like he never has a losing day. I highly doubt if he is that good.
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I would not bank on that... there seem to be some assumptions about trading that aren't true for somebody that is really proficient... like "big risk for big reward".. horseshit, successful traders take little risk, and "you will have losing days".. I'm quite sure that there are lots of traders that trade day in and day out and never have losing days....

It all comes down to average win versus average loss and win rate.. if you can get those two parameters where they need to be then you can do whatever you want with impunity...

Play with this simulator to learn that

http://www.hquotes.com/tradehard/simulator.html
 
Quote from maxpi:

I'm quite sure that there are lots of traders that trade day in and day out and never have losing days....
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I won't argue against this sentence but have you seen the setups that Al Brooks uses? Have you read his book?
 
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