Reading Price Action Bar by Bar

lbranjord · Jul 21, 2010

Has anyone tried just scrolling through charts bar by bar and trying to predict the next? I do it every once in awhile out of curiousity and to test my chops.

Usually it's hard to break out of 51%-55% if I am picking bearish or bullish

When going for pips though it's a different paradigm because you may think the next bar will most likely be bullish, but you know because of the trend that if it is bearish, it will be much larger.

I go with the daily bars for this activity just to make it easier on myself. Anyone else do this? I know it has no tangible value, but it's good practice and helps you internalize the charts and patterns.

Try 100 bars and post your results!:smart:

William Waller · Jul 21, 2010

Quite a good book in my opinion, although not well written, so it's pretty hard going. Interesting nonetheless.

http://www.amazon.co.uk/Reading-Price-Charts-Bar-Technical/dp/0470443952

lbranjord · Jul 21, 2010

William Waller said:
Quite a good book in my opinion, although not well written, so it's pretty hard going. Interesting nonetheless.

http://www.amazon.co.uk/Reading-Price-Charts-Bar-Technical/dp/0470443952

William, would you recommend it to a guy who has already read many other price action books? Is there something new to offer? I've seen a million different candlestick patterns, I guess I'd like a new twist on things or new ways to trade the same PA signals.

Example: A couple months ago I read a book that had "rounding bottom" patterns it was something I'd seen a million times in my chart exp, but never looked for actively. There is always something new to learn, but it's hard to filter through the results and find it!

lbranjord · Jul 21, 2010

This book was not actually the reason I made the thread by the way. but I'm sure I stole the title subconciously at some point...

William Waller · Jul 21, 2010

lbranjord said:
William, would you recommend it to a guy who has already read many other price action books? Is there something new to offer? I've seen a million different candlestick patterns, I guess I'd like a new twist on things or new ways to trade the same PA signals.

Example: A couple months ago I read a book that had "rounding bottom" patterns it was something I'd seen a million times in my chart exp, but never looked for actively. There is always something new to learn, but it's hard to filter through the results and find it!

I don't know really. It is very different from your usual Steve Nison "Samurai frying an egg whilst relieving himself in a merchant's hat" type of stuff, but to be honest I haven't got all that far into it yet.

It is very, very, very heavy going, but if you're seriously interested in this topic I think it's probably worth a read.

Sorry I can't be more helpful.

EDIT: Cheapest I can see (well, get from a quick google), is £28 on Amazon.

William Waller · Jul 21, 2010

By the way, in my opinion you're doing very well if you're getting 50% plus. Doubt my efforts would be anywhere near that.

bedsit · Jul 21, 2010

Hey Lb.

They can't blame you for not trying to find the ultimate system.

BTW Avatar of yours is smashing.:clap:

tomorton · Jul 21, 2010

Play the bar by bar game here - http://chartgame.com/

lbranjord · Jul 21, 2010

Thanks bedsit. i'm a dogfan. Most of my reasons for trading are to own a larger house with many dogs. Luckily I found a wife who can accept this

William Waller · Jul 21, 2010

lbranjord said:
Thanks bedsit. i'm a dogfan. Most of my reasons for trading are to own a larger house with many dogs. Luckily I found a wife who can accept this

No way! That'sjust like me! Well, except that I'm doing this to own a larger house with many wives. My dog doesn't like the idea, but I think he's starting to come round

.

(Must be time for me to go and do something else LOL).

luckyd1976 · Jul 21, 2010

I've got relatives up north in Mellen, WI.

Im a Dog fan as well.

Us dog people got to stick together...

lbranjord · Jul 21, 2010

luckyd1976 said:
I've got relatives up north in Mellen, WI.

Im a Dog fan as well.

Us dog people got to stick together...

Ok, I've been to hayward and Ashland, but not Mellen. It's a good area to find peace.

fcmisc · May 28, 2013

lbranjord said:
William, would you recommend it to a guy who has already read many other price action books? Is there something new to offer? I've seen a million different candlestick patterns, I guess I'd like a new twist on things or new ways to trade the same PA signals.

Example: A couple months ago I read a book that had "rounding bottom" patterns it was something I'd seen a million times in my chart exp, but never looked for actively. There is always something new to learn, but it's hard to filter through the results and find it!

What other good books are there on price action? Not much else comes up on an Amazon search.

Profitsniper007 · Jun 2, 2013

tomorton said:
Play the bar by bar game here - Chartgame.com - The time-lapse stock trading game

That game was fun lol

I made 54% - buy and hold was 29%

Reading Price Action Bar by Bar

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