Any reviews on the book- Price Action Trading (Day-trading the T-Bonds off PAT) by Bill Eykyn? http://www.amazon.com/Price-Action-...bs_sr_1?ie=UTF8&s=books&qid=1221948406&sr=8-1
I just took a look at the TOC and it looks like it's got fairly standard topics and not much of the nonsense. Nonetheless, if you are looking for something updated, this is probably not it. Looks like it might be worth a shot for newcomers. Anek
I could only read the TOC page and the first chapter from Amazon. It seems fairly standard stuff. Be honest I don't know how these publishers can (attempt to) charge $165 full price for this kind of books. With cable modems and cheap computers and monitors, it's really not a big deal about trading at home. I have been trading the markets from my home for over 13 years and I didn't think it is such a big deal.
Honda, Bernard- I think you'd like the book Anek pointed out. It's only dated in that Greenspan isn't chairman of The Fed anymore, but it's still only 5 years old any way you cut it. Anek calls it basic and it very well may be to him since he already knows price action trading (yes, trading price action IS simple) but it is still one of the very few books out there that will teach you price action and how to apply it properly within the context of your trading. Those books are few and far between! He basically lays out a simple method to trade price action revolving around s/r levels price formations as well as some other interesting tidbits he learned while spending time at the Pit. Good book IMHO, applicable to any market, the author just prefers Bonds and explains why he favors them...which will also offer insight into your selecting a market you prefer to trade and what you should consider. I guess $100 or whatever for a book is pretty expensive, but it's no more expensive than any college book I've had to buy, and hey if you learn something from it then it was money well spent. People spend $300-400 a month in these "trading chat rooms" getting fleeced without batting an eye but freak out when a book is $100. Cracks me up. If a book looks like you would benefit from it- get it! Well, that's my opinion at least. Hell see if you can buy it used. I always try to get my books used on Amazon or Ebay when possible. Best of luck. Good trading.
I agree that some people are willing to spend $300-$400 a month for chat room access to trade and not even $100 to buy a trading book. I have read as much as I could on Amazon on-line this "Price Action" book. I just don't think it would worth spending my $160 to get things you can regularly get in a $30-$50 trading book. Just "nothing special" is all I am saying. Choosing a market? Looking at pivots? Access the market open? Fibonacci? Reversal and breakouts? Trends and formations? Risk/Reward ratio? Spread betting? Which chapter is so unique?
It's really not worth arguing about, I was just offering input in case anyone else was thinking of buying it, since there really aren't any reviews to be found online. I don't know about you, but I don't know of really any books besides Joe Ross that has detailed info on Price Action specifically geared to day trading. And Ross's books are $150 also. It's a good book for someone who wants to learn a solid, basic method of PA Trading. Other traders can pick up good tidbits of info as well. Good trading.
Guys, I just finished reading this book this evening and recalling this thread I felt compelled to reply. There are many bad books that should never have been published and in my opinion this is one of them. At least if the price is taken into consideration. If the book costed 20$ I would perhaps even have recommended it, but the ridiculous price that they sell this book for is nothing else than an insult to the reader. Some observations from the top of my head: - A big reason for the high cost has to be due to the nice binding of the book and quality of the charts. Nice color charts and high quality paper. Not relevant in terms of educational value though. - A more fitting title of the book would be, "Introducing Fibonnaci and Pivot Point Trading". The term "price action" seems to be a little undefined here on ET, but as far as I`m aware this book does not teach pure price action. Of course, there are some basic stuff about patterns and support/resistance. Actually, I would rather recommend "Mind Over Markets" for anyone interested in learning more about price action. In contrast, "MOM" is not the best book in terms of layout and charts, but I think there is tremendous VALUE to be found in it. - Several typos. - The written text could probably be reduced to 30-50 pages. LOTS OF BLANK SPACE. I`m 100% convinced that investing in your own education is important, and part of the process is wading through some bad books, but I thought I`d spare you guys for this one. Sorry Bill EDIT: I forgot to mention. If you`re interested in learning about Pivot Points and Fibonacci, I think the online course at www.babypips.com does a better job than this book.
i was going buy this, thanks for the warning... you may want to check out Mind over Markets by Dalton, its a market profile intro, but offers much more than just how to read an MP chart... it might be what you're after
if there is anything useful from priceaction, it wont come from reading some's experience in a book. it will come from replaytrading, then simtrading and settting standards for whatever that works, to be seen as working on 1000-4000 trades b4 one is able to gain consistency. who are these authors that we know didnt even post a single chart on any forum