Average Reviews:
(More customer reviews)I am a trader who, as the author does, uses price action to trade. I advance-ordered this book, because its title promised a detailed discussion of price action well beyond what is generally available in the typical books on trading. In this regard I am not disappointed. The author, who is a scalper, does offer what I consider to be the best presentation of how to select trade entries and exits using price action. This is an approach that many good traders use, but it is an art rarely written about in great detail. If an in depth discussion of bar to bar price action is what you're after, the Brooks' book may be your only choice.
Unfortunately the book has many annoying faults that could have easily been remedied by better writing, careful editing, and better layout and printing. The main fault is the writing. What the text needs is careful editing by one skilled in technical writing and armed with a red pencil. There are too many needless words and too many awkward sentences. Sentences such as "Bar 15 was a break to a new low, and it had a strong bull reversal bar off the new low, and it overshot two bear trend channel lines." (Pg 298) Sadly, this kind of writing confronts us on every page. Presumably, the author meant to say: "Bar 15 broke to a new low but closed as a strong bull reversal bar that overshot two bear-trend channel lines." There are so many run-on sentences that one wonders whether the author is trying to start a war on commas. Punctuation is far too lax. This may seem like nitpicking to some, but these faults, all easily corrected, make reading this book far more of a chore than it ought to be. There is really no excuse for such poor editing in a fifty-dollar book. I suppose the publisher, John Wiley & Sons, is as much at fault as the author.
In spite of its faults, this book must be commended on being the first to take on an analysis of price action in such depth. Perhaps with a second edition we will get a book that looks and reads as it ought to. If so, Dr. Brooks' book could potentially find itself in the top rank of books on trading.
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