Brooks Trading Price Action Trading Ranges

Technical Analysis of Price Charts Bar by Bar for the Serious Trader
1. Auflage 2011
ISBN: 978-1-118-17233-9
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 624 Seiten, E-Book

Reihe: Wiley Trading Series

Praise for Trading Price Action Trading Ranges
"Al Brooks has written a book every day trader should read. Onall levels, he has kept trading simple, straightforward, andapproachable. By teaching traders that there are no rules, justguidelines, he has allowed basic common sense to once again rulehow real traders should approach the market. This is a must-readfor any trader that wants to learn his own path to success."
--Noble DraKoln, founder, SpeculatorAcademy.com, and author ofTrade Like a Pro and Winning the Trading Game
"A great trader once told me that success was a function offocused energy. This mantra is proven by Al Brooks, who left athriving ophthalmology practice to become a day trader. Al'sintense focus on daily price action has made him a successfultrader. A born educator, Al also is generous with his time,providing detailed explanations on how he views daily price actionand how other traders can implement his ideas with similar focusand dedication. Al's book is no quick read, but an in-depth roadmap on how he trades today's volatile markets, complete withdetailed strategies, real-life examples, and hard-knocksadvice."
--Ginger Szala, Publisher and Editorial Director, Futuresmagazine
Over the course of his career, author Al Brooks, a technicalanalysis contributor to Futures magazine and an independenttrader for twenty-five years, has found a way to capture consistentprofits regardless of market direction or economic climate. Andnow, with his new three-book series--which focuses on how touse price action to trade the markets--Brooks takes you stepby step through the entire process.
In order to put his methodology in perspective, Brooks examinedan essential array of price action basics and trends in the firstbook of this series, Trading Price Action TRENDS. Now, inthis second book, Trading Price Action TRADING RANGES, heprovides important insights on trading ranges, breakouts, ordermanagement, and the mathematics of trading.
Page by page, Brooks skillfully addresses how to spot and profitfrom trading ranges--which most markets are in, most of thetime--using the technical analysis of price action. Along theway, he touches on some of the most important aspects of thisapproach, including trading breakouts, understanding support andresistance, and making the most informed entry and exit decisionspossible. Throughout the book, Brooks focuses primarily on 5 minutecandle charts--all of which are created withTradeStation--to illustrate basic principles, but alsodiscusses daily and weekly charts. And since he trades more thanjust E-mini S&P 500 futures, Brooks also details how priceaction can be used as the basis for trading stocks, forex, TreasuryNote futures, and options.

Autoren/Hrsg.

Brooks, Al

Inhaltsverzeichnis

Acknowledgments xi
List of Terms Used in This Book xiii
Introduction 1
PART I Breakouts: Transitioning into a New Trend 35
CHAPTER 1 Example of How to Trade a Breakout 53
CHAPTER 2 Signs of Strength in a Breakout 61
CHAPTER 3 Initial Breakout 81
CHAPTER 4 Breakout Entries in Existing Strong Trends 91
CHAPTER 5 Failed Breakouts, Breakout Pullbacks, and BreakoutTests 99
CHAPTER 6 Gaps 119
PART II Magnets: Support and Resistance 139
CHAPTER 7 Measured Moves Based on the Size of the First Leg (theSpike) 153
CHAPTER 8 Measured Moves Based on Gaps and Trading Ranges165
CHAPTER 9 Reversals Often End at Signal Bars from Prior FailedReversals 175
CHAPTER 10 Other Magnets 179
PART III Pullbacks: Trends Converting to Trading Ranges183
CHAPTER 11 First Pullback Sequence: Bar, Minor Trend Line,Moving Average, Moving Average Gap, Major Trend Line 205
CHAPTER 12 Double Top Bear Flags and Double Bottom Bull Flags213
CHAPTER 13 Twenty Gap Bars 233
CHAPTER 14 First Moving Average Gap Bars 239
CHAPTER 15 Key Inflection Times of the Day That Set Up Breakoutsand Reversals 245
CHAPTER 16 Counting the Legs of Trends and Trading Ranges253
CHAPTER 17 Bar Counting: High and Low 1, 2, 3, and 4 Patternsand ABC Corrections 259
CHAPTER 18 Wedge and Other Three-Push Pullbacks 301
CHAPTER 19 Dueling Lines: Wedge Pullback to the Trend Line313
CHAPTER 20 "Reversal" Patterns: Double Tops andBottoms and Head and Shoulders Tops and Bottoms 319
PART IV Trading Ranges 327
CHAPTER 21 Example of How to Trade a Trading Range 367
CHAPTER 22 Tight Trading Ranges 377
CHAPTER 23 Triangles 411
PART V Orders and Trade Management 417
CHAPTER 24 Scalping, Swinging, Trading, and Investing 419
CHAPTER 25 Mathematics of Trading: Should I Take This Trade?Will I Make Money If I Take This Trade? 437
CHAPTER 26 Need Two Reasons to Take a Trade 481
CHAPTER 27 Entering on Stops 491
CHAPTER 28 Entering on Limits 493
CHAPTER 29 Protective and Trailing Stops 517
CHAPTER 30 Profit Taking and Profit Targets 535
CHAPTER 31 Scaling Into and Out of a Trade 543
CHAPTER 32 Getting Trapped In or Out of a Trade 567
About the Author 571
About the Website 573
Index 575

Über Autor(innen)

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.