Trading Price Action Trends: Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Wiley Trading) - Hardcover

Brooks, Al

Hardcover

ISBN 10: 1118066510 ISBN 13: 9781118066515

Publisher: Wiley, 2011

Synopsis

A practical guide to profiting from institutional trading trends

The key to being a successful trader is finding a system that works and sticking with it. Author Al Brooks has done just that. By simplifying his trading system and trading only 5-minute price charts he's found a way to capture profits regardless of market direction or economic climate. His first book, Reading Price Charts Bar by Bar, offered an informative examination of his system, but it didn't allow him to get into the real nuts and bolts of the approach. Now, with this new series of books, Brooks takes you step by step through the entire process.

By breaking down his trading system into its simplest pieces: institutional piggybacking or trend trading (the topic of this particular book in the series), trading ranges, and transitions or reversals, this three book series offers access to Brooks' successful methodology. Price Action Trends Bar by Bar describes in detail what individual bars and combinations of bars can tell a trader about what institutions are doing. This is critical because the key to making money in trading is to piggyback institutions and you cannot do that unless you understand what the charts are telling you about their behavior. This book will allow you to see what type of trend is unfolding, so can use techniques that are specific to that type of trend to place the right trades.

• Discusses how to profit from institutional trading trends using technical analysis
• Outlines a detailed and original trading approach developed over the author's successful career as an independent trader
• Other books in the series include Price Action Trading Ranges Bar by Bar and Price Action Reversals Bar by Bar

If you're looking to make the most of your time in today's markets the trading insights found in Price Action Trends Bar by Bar will help you achieve this goal.

About this title

About the Author

AL BROOKS is a technical analysis contributor for Futures magazine and an independent day trader. His approach to reading price charts was developed over two decades in which he changed careers from ophthalmology to trading. Brooks graduated from The University of Chicago Pritzker School of Medicine in 1978 and received a BS in mathematics with honors from Trinity College in 1974. His website, brookspriceaction.com, outlines his trading approach and views as well as hosts a subscription-based daily trading chat room in which Brooks talks with other traders about the market.

From the Back Cover

Praise for Trading Price Action Trends

"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, SpeculatorAcademy.com, and author of Trade Like a Pro and Winning the Trading Game

"A great trader once told me that success was a function of focused energy. This mantra is proven by Al Brooks, who left a thriving ophthalmology practice to become a day trader. Al's intense focus on daily price action has made him a successful trader. A born educator, Al also is generous with his time, providing detailed explanations on how he views daily price action and how other traders can implement his ideas with similar focus and dedication. Al's book is no quick read, but an in depth roadmap on how he trades today's volatile markets, complete with detailed strategies, real-life examples, and hard knocks advice."
―Ginger Szala, Publisher and Editorial Director, Futures magazine

Over the course of his career, author Al Brooks, a technical analysis contributor to Futures magazine and an independent trader for more than twenty years, has found a way to capture consistent profits regardless of market direction or economic climate. And now, with his new three-book series―which focuses on how to use price action to trade the markets―Brooks takes you step by step through the entire process.

In order to put his methodology in perspective, Brooks examines an essential array of price action basics and trends in this initial book. Page by page, he skillfully addresses how understanding price action and effectively reading price charts, bar by bar, can help you follow unfolding trends usually initiated by institutions and allow you to profitably piggyback onto their trades by setting up early entries with tight stops. Throughout the book, Brooks focuses primarily on 5 minute candle charts―all of which are created with TradeStation―to illustrate basic principles, but also discusses daily and weekly charts. And since he trades more than just E-mini S&P 500 futures, Brooks also details how price action can be used as the basis for trading stocks, forex, Treasury Note futures, and options.

From the Inside Flap

The key to being a successful trader is finding a system that works and sticking with it. Author Al Brooks, a technical analysis contributor to Futures magazine and an independent trader for twenty-five years, has done just that. Over the course of his career, he's found a way to capture consistent profits regardless of market direction or economic climate. And now, with his new three-book series which focuses on how to use price action to trade the markets Brooks takes you step by step through the entire process.

In order to put his methodology in perspective, Brooks examines an essential array of price action basics and trends in this initial book; moves on to provide important insights on trading ranges, order management, and the mathematics of trading in the next book, Trading Price Action TRADING RANGES; and then discusses trend reversals, day trading, daily charts, options, and the best setups for all time frames in the third, and final, book of this series, Trading Price Action REVERSALS.

Written with the serious trader in mind, Trading Price Action TRENDS skillfully addresses how understanding price action and effectively reading price charts, bar by bar, can help you follow unfolding patterns, which are all initiated by institutions, helping you to profitably piggyback onto their trades by setting up early entries with tight stops. Engaging and informative, this reliable guide:

• Discusses how to trade trends, trading ranges, breakouts, and reversals
• Examines the basic tools of trend lines and trend channels, which can be used to highlight the existence of trends and trading ranges
• Provides a detailed description of the significance of each type of candle, as well as the mathematics that traders need to know when placing trades
• And much more

Throughout the book, Brooks focuses primarily on 5 minute candle charts all of which are created with TradeStation to illustrate basic principles, but also discusses daily and weekly charts. And since he trades more than just E-mini S&P 500 futures, Brooks also details how price action can be used as the basis for trading stocks, forex, Treasury Note futures, and options. Foryour convenience, a companion website, which canbe found at wiley.com/go/tradingtrends, contains all of the charts provided in the book.

Trading is a rewarding endeavor, but it's hard work and requires relentless discipline. To succeed, you have to stick to your rules and avoid emotion and you have to patiently wait to take only the best trades. Trading Price Action TRENDS is your first step in achieving this goal. With this guide, and the other two books in the series, you'll discover how to develop the patience and discipline to follow a sound system, and reap potentially huge financial rewards in the process.

Edition details

• Publisher: Wiley
• Publication date: 2011
• Language: English
• ISBN 10: 1118066510
• ISBN 13: 9781118066515
• Binding: Hardcover
• Edition number: 1
• Number of pages: 480