Something Interesting to Read - page 5

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Sergey Golubev
Moderator
108382
Sergey Golubev  

Trading Price Action Reversals : Al Brooks




detailed guide to profiting from trend reversals using the technical analysis of price action

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, trading ranges, and transitions or reversals (the focus of this book), this three book series offers access to Brooks' successful methodology. Trading Price Action Reversals reveals the various types of reversals found in today's markets and then takes the time to discuss the specific characteristics of these reversals, so that you can use them in your everyday trading endeavors. While price action analysis works on all time frames, there are different techniques that you can use in trading intraday, daily, weekly and monthly charts. This, among many other issues, is also addressed throughout these pages.

  • Offers insights on how to handle volatility and sharp reversals
  • Covers the concept of using options when trading certain charts
  • Examines how to deal with the emotions that come along with trading

Other books in the series include Trading Price Action Trends and Trading Price Action Trading Ranges

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

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Forum on trading, automated trading systems and testing trading strategies

Something Interesting in Financial Video September 2013

newdigital, 2013.09.28 10:43

Interview With Al Brooks, Price Action Day Trader



Here is a summary of some of the key points:

1. Brooks is a price action trader with 27+ years of experience.
2. He is an active day trader, trading off the 5 minute chart. He trades the entire day.
3. He has a purely technical approach, relying totally on price action with just a few moving averages.
4. His approach is entirely rules-based; he not use any discretion and does not consider relying on intuition.
5. He states his setups have worked for decades and continue to work.

Brooks' analysis relies on measuring movements (i.e. retracements), gauging the strength of trends, and analyzing candlesticks.

Brooks has authored a number of books on trading. Interested traders may find it worthwhile to check out his page on Amazon.




Forum on trading, automated trading systems and testing trading strategies

Something Interesting in Financial Video September 2013

newdigital, 2013.09.28 10:38

Al Brooks' Moving Average Gap Bar Strategy

The basic elements of the strategy are as follows:

1. Identify a market that is in a bear trend on the 5 minute chart
2. Wait for a retracement in which the low of latest candle is above the 20 EMA
3. Go short, targeting the low of the day.

To be clear, Brooks' approach to price action trading is much more thorough; this strategy is just one tool in his arsenal.





Forum on trading, automated trading systems and testing trading strategies

Traders Joking

newdigital, 2013.08.27 12:35

“If you trade Countertrend, you are gambling, and although you will often win and have fun, the math is against you, and you will slowly but surely go broke. Countertrend setups in strong trends almost always fail and become great With Trend setups..."
-Al Brooks, Trading Price Action Bar By Bar

anna.semera
22
anna.semera  
the material is very useful for me. because I do not find this material in the bookstore.
ScottCarsonMVP
18
ScottCarsonMVP  
Some interesting stuff here
Sergey Golubev
Moderator
108382
Sergey Golubev  

The Signal and the Noise: Why So Many Predictions Fail — but Some Don't by Nate Silver 

 

My description: in my opinion, some of the best books regarding algorithmic trading are not books wrote for this intention. This one is for me a great example and read, there are lots of new ideas that can be used in quantitative finance area. I like too much the "prediction paradox" described below, since when we talk about future no one has monopoly on truth.

Amazon description: "Drawing on his own groundbreaking work, Silver examines the world of prediction, investigating how we can distinguish a true signal from a universe of noisy data. Most predictions fail, often at great cost to society, because most of us have a poor understanding of probability and uncertainty. Both experts and laypeople mistake more confident predictions for more accurate ones. But overconfidence is often the reason for failure. If our appreciation of uncertainty improves, our predictions can get better too. This is the “prediction paradox”: The more humility we have about our ability to make predictions, the more successful we can be in planning for the future."

lal.remigiusz
26
lal.remigiusz  
an interesting thread. of all the files, I still do not understand about the article I read.
Viraj B
16
Viraj B  
Sergey Golubev:

Wiley actually has some really good books in Finance.
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