New Technology, specialized theories, and so-called managers promise to take your investments to the next level, the truth is that long-term success requires you to do what the professionals are doing.
Al Brooks does not play around when reading a price chart, each and every bar contains information that could lead to a profitable trade. This is a very detailed ebook, there’s something about trend lines.
In the first chapter Al shows how to draw them, if you are going to be a price action trader your first indicator is the trend line. Other software indicators such as moving averages come secondary but chances are you won’t use any secondary indicators.
However, this book only covers analysis in the trading process. A price action trading system is more like a personal plan.
This book takes you into a deeper understanding of price action and how to trade it like a pro. My favorite chapter is “chapter 15-Best trades”. I learned here how to pick the best setups of the day, from major reversals and with-trend setups. For instance, look at this price pattern below
Instead of trying to find head and shoulders patterns, you can simply look at price interaction with a trend line, when you trade relying on trendlines you will notice a pattern of repetitive price interaction with the trend lines, then call them cats or dogs or head and shoulders.
If you are completely new to price action you came to the right page, this book is going to change the way you trade for better.
The Author is Al Brooks, an independent trader and technical analyst for futures magazine. The philosophy of trading is minimizing risk and maximize opportunity, this book teaches just that.
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