The author is irrelevant. Rather, the question to ask, "Are the concepts contained in the book sound?"
Reading Al's book is one giant pain in the ass. But I am thrilled that I read it. Quite a bit of useful insight between the covers. Next time we are all hoping he writes one in English.
After reading all the fuss in this thread, I thought I read the damn book for myself to see if it indeed lives up to its lofty title. Well, I painfully stayed up last night reading the first chapter, which is entitled "Price Action". Strange as this may sound, there's nothing "sound" about price action in the manner that was presented by this author. What he does is basically repackages the old candlestick patterns and rechristens them under some exotic names. In the Preface, he states that the book is geared more towards the advanced traders but, by the time I got done with the first chapter, I wasn't convinced. I should also note that he uses moving averages in his charts, which I ain't so sure qualifies as PA. I wouldn't be at all surprised if he starts dabbling in oscillators. Although everyone's entitled to one's own opinion, hindsight analysis cloaked in esoteric language just doesn't cut it for me.
well are they sound? candlestick counting, 2nd lows, etc.. is that really what constitutes "price action"?
You people are funny.... You might trying not only reading the WHOLE BOOK, but actually learning it and actually trading using the methods. If you've not already visited the brookpriceaction.com forum and spent a couple days in the chat room, you might at least do that much. There is End of day Analysis of that days action. In the live chat room there are traders trading using these methods.. Some better than others. Some folks don't and will never like Brooks methods.. It really is impossible to judge a book by it's cover and the WHOLE book by one chapter...
surely u mean..most are idiots who think that someone else can show them how to trade..and by reading repeated information..that has not changed since its inception..will somehow find some hidden gems..like yeh..talk about growing up..much like the way that mr fibonacci spent most his life trying to change lead into gold..another fuckin dim wit..and to think that people use his math ratios to try and make money trading..what a bunch of looney tunes..really.. how come everyone is so fuked up when it comes to trading..all u need is ur 2 eyes..a simple chart..and a straight edge..
the truth is never liked by most..but that is cause most are fukin idiots..who are too damn lazy to use the little brain that floats between their 2 big ears..hence we have a world of inspiration seekers who know everything about anything..what a stupid fukin society ye have created..and what have we now..tweets and digs..and faces..and a multitude of other fuked up names that serve the same purpose..to fulfill the minds of fukin idiots..
dr mel knows sweet fuk all about trading..and that should be obvious to all by now..anyone with a dr before his name..never has..nor ever will..be an exceptional trader..mainly due to the fuked up brains they have price action me arse..order flow me boy..that is what u must see..and when u see order flow then the price "action" will mean something..what kind of fukin traders have we on this site anyway..elite..:eek: ..more like petite..