Trading Price Action Trends: Technical Analysis of Price Charts Bar by Bar for the Serious Trader
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 TRENDSskillfully 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 reversalsExamines the basic tools of trend lines and trend channels, which can be used to highlight the existence of trends and trading rangesProvides a detailed description of the significance of each type of candle, as well as the mathematics that traders need to know when placing tradesAnd much moreThroughout 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 TRENDSis 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.