Here’s an update on some of the books I just read. Of course, I am linking through Amazon but I own these and fully enjoyed reading them or I wouldn’t share. I say that out of transparency. I appreciate your support of you decide to buy through my link but either way, I do not think you will be dissappointed with this lot.
Pay attention to the parts about volume and order flow because there seems to be a lack of information on those two aspects on the internet.
I have not been able to find many platforms that even show this data.
For more information on order flow and volume control, I started a post here.
I highly recommend this book, “Order Flow”. Trader Dale does a good job compressing information on two of the most important elements in todays market, order flow and volume profile.
The order flow concepts are a little complex if you are new to trading and seem to only now be referred to in the realm of free trading information.
In my personal experience, it is hard to even find a trading platform available that offers this data.
I have watched a few videos on youtube that mention how to recognize order flow on a “naked” chart but either they are new to the concept too or, I am just not understanding these slightly advanced but fundamental at the core, concepts.
I do suggest you do further research on both order flow and volume profile.
Most advanced traders I’ve learned from trade without indicators, using price and volume as the only signal for future price movement.
If there was to be any other “natural” indicator of the same calibur as the aforementioned pair, it would definitely be order flow.
This gives one a full picture of what is happening in the market, combining the current price with the amount of people tradingand how many contracts traded at a certain price.
You may need to study and practice these concepts but I think you will see the markets a different way that will be highly beneficial.
In addition to this rare information, included with the paperback or kindle copy of the book is, access to his website that has more info on advanced techniques, videos, and real examples of his strategy.
This book contains examples of “naked” trading, as well, with pictures of how the authors use their strategies in the market.
The authors analyse Japanese candlesticks as a signal to enter a position whether, in a trend or reversal.
A nice read but I expected more. This is a good book to add to your collection but not a ‘must-read’, in my opinion.
I saved the best for last.
The Wychoff methodology is akin to Dow Jones Theory and Elliot Wave Theory.
Although I have not read through this entire book or the prequel, I was exposed to Wychoff through ICT’s videos.
Wychoff methodology is based on underlying logic of the market’s need for liquidity, in the guise of supply and demand.
Probably, this is where much of the information on order flow and volume profile derived from.