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The best books on the Price Action method
Despite the fact that the Price Action method is applied and improved for more than ten years, self-study, this approach is still difficult because of the shortage of quality literature. In today's review I decided to submit brief book reviews, reading which you can learn the basic tricks of the trade on a pure chart.
The first textbook on Price Action, which should be required reading for every trader, is a compendium of articles and notes lance Beggs. It should be noted that this book does not look like a single unit, so that the translated electronic version may experience some "confusion" in the content.
Throughout the rest of the mentioned book on Price Action fully meets the needs of beginners who seek a succinct way to master the most simple trading strategy. Apparently, with ease, I got excited because lance makes the emphasis on the behavior of buyers and sellers and not on the typical patterns.
Here is what he wrote: "there are No perfect rules for all transactions. We don't know which signal is better, this can be judged only on history, but there is good news - we don't need fixed rules".
The picture above shows one of the examples, which leads Beggs, in his book on Price Action. As you can see, in this case depicted price field, and not candle patterns or the normal horizontal levels. This is due to the fact that the author pays special attention to the psychology of bidders, but also considers the financial market as a regular auction in which traders compete among themselves and try to buy the asset at the best price.
The second review will focus on the book is Martin Pring "On price patterns". Unlike articles lance Beggs, examines the dynamics of prices for mixing the real balance of supply and demand, textbook Pring summarizes the information about all the popular candlestick formations, which are known, apply the method of "price action".
In fairness it should be noted that this book was published long before trade for clean graphics" has become mainstream in the financial environment. The irony lies in the fact that labor Pring was the basis of many popular Price Action patterns to take at least Pin-bar, which today is spoken in every second article on PA.
Thus, the textbook "On price patterns" can be considered a book on Price Action, although Pring did not pursue the goal to create something revolutionary and just summed up the knowledge of candlestick analysis.
And the last book, or rather a training manual that should definitely peruse every trader that the world wide Web "walks" called "the Bible of the Price Action (Price Action's Holy Bible)".
Such a great name is fully justified, as in this manual detail all the basic patterns and strategies Price Action and the material is presented in a very convenient structured form.
In particular, the first Chapter of the Bible" introduces the reader to basic shapes, among which special attention is given to the pin-bars. Here presented more than enough information to develop a complete trading strategy, as the authors spoke not only about the outward signs of this model, but also shared his thoughts about setting stop losses.
Ways to set Stop Loss our review of the most popular and effective methods.
In the second Chapter of the book at the Price Action presents intricate patterns barovye, among which I found a new model. Probably, the creators of the manuals have borrowed information from foreign resources, which can not but rejoice, because the quality of translated literature on PA in the afternoon with fire will not find.
In the third section of the manual to familiarize yourself with the key elements of technical analysis (more on technical analysis), and in the final part, the authors decided to combine all the theoretical knowledge in specific trading techniques, in particular, here a trader will find answers to the following questions:
• how to determine the most probable direction of exit from the range.
• how to identify flat at the initial stage;
• how to trade on a weekly timeframe, etc.
If to briefly summarize, among the following books on Price Action special attention must be paid to the Bible and the works of lance Beggs, but if there is a desire to remember how it all began, you can see a tutorial by Martin Pring.
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| Category: Forex | Added by: (30.10.2017)
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| Views: 321
| Rating: 0.0/0 |
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