[rwk]

Originally Posted by steveh2009 »

Al Brooks has three new price action books . . .

I tend to cringe when I hear the phrase "price action", because if you ask 10 people what they mean by it, you get at least 14 definitions. In general, if a trader is monitoring a chart (5 minute or otherwise), he is not doing what I consider to be "reading order flow". That's not to say there is anything wrong with trading from charts. I have used charts in the past.

"Tape reading" is another phrase that's often interpreted in many ways. Traditionally, it meant charting price moves, and had nothing to do with reading a Time & Sales display. That's unfortunate but understandable, since computers had not been invented yet.

[HighStakes]

I appreciate the input, rwk.

I`ve read well over 100 books on trading and extensively studied half of them. Knowing that 80-90% of what is written on trading is mostly useless and recycled garbage from guys who don`t know how to trade, I`m usually fairly critical, especially when it comes from some online vendor where the barrier for releasing something is pretty much non-existent.

The other thing is that I`m not so sure how reliable reading order flow is in a market such as S&P, considering arbitrage and program trading.

I`m intimately familiar with the works of Al Brooks. I read his book twice and then re-wrote it on the third time in a language I could understand. Learned a lot from him and myself

SpideySense,

When did you visit Oslo? I`m actually embarrassed over our capital as parts of it is dirty and full of visible drug abuse,etc.

Glad you liked it though. Parts of it is truly beautiful

Kind regards,

HighStakes