Not in any way defending Brooks but aren't you being overly sentimental in your judgment (or rather overly judgmental)? I've not used volume once for the last 25 or so years and have had no problem reading price action. For me, the volume is already baked into the price. The reason is two-fold. First, price, for the most part, precedes volume. You rarely see volume spike before price rises. It's almost always the other way around. Be that as it may, the second reason is there are many times (and I mean many) where prices rise on low volume. According to the textbook definition, this would be considered a fake rally, but no they're not.
Who has read Al Brooks books?
- Thread starter Darc
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He writes like a typical doctor who is submitting his paper to a journal, namely, dry and boring.
Here's my suggestion. There's no need to read cover to cover. Read the beginning and the end portions of each chapter first and then search Youtube to see if any of the topics you're interested has been covered. Also look up Google images for charts and annotations. This will also take you to relevant webpages that will give further explanations.
Thanks, I've watched those Vids you posted and will again. I'll battle through the Book eventually.
I was just wondering which hearty Souls had actually battled through "the Horse tranquilizers".
Because price is what is going to pay you, not volume. There can be a lot of volume and hardly any price movement. Conversely there can be low volume and plenty of price movement for a scalp.
Plus when you throw volume in to the mix it just adds another factor to decision making. Like all those indicators on a screen that become a hinderance instead of a help in decisions to execute a trade. Execution needs to be streamlined and fast for scalping and as close to binary as possible. Yes or no. Will price likely make my profit target before it will hit my stop. Yes or no. That is what the trader’s equation that Brooks talks about helps in making that decision.
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I've found my spiritual kin at last.
Volume is useless.If you look closely, you'll see that those who use volume also use other weird indicators/oscillators. If they say they know what PA is or that they understand Brooks, run away as fast as you can, as far away as you can.