/biz/ - Business & Finance

>>27252170
>technical analysis is all bullshit
Yeah pretty much.
Price action isn't. "Reading the tape" isn't either. Brooks actually makes a strong point against "trading the news" or paying attention to the scum on cnbc and otherwise tells you to focus on the chart and learn to read what every candle tells you in the context of the previous price action.
WARNING to you and to anyone interested in the books:
All 3 (4 if you count his first) books show that the editors themselves didn't understand what Brooks was trying to convey so several paragraphs are repetitive and incredibly convoluted. Shits all over the place and some statements don't make sense unless you already have a grasp of what he means.

A "light" and much simplified form of Brook's stuff can instead be found in an old dude's futures trading booklet:
https://priceactiontradingsystem.com/pats-price-action-trading-manual/

Its 80 pages and it helps to know the simpler stuff and the "basics" before trying to decipher Brooks

>>27252853
Only if you take crap like """"""modern"""""" portfolio theory and the efficient market hypotheses as fact. It might not make much sense to some but again, picking securites is a process of eliminiation bottoms up that discards anything with unacceptable risk from the get go.

Gotta go now lads .
Good thread