Understanding Price Action: practical analysis of the 5-minute time frame

by Bob Volman

Understanding Price Action is a must read for both the aspiring and professional trader who seek to obtain a deeper understanding of what is commonly referred to as "trading from the naked chart". With hundreds of examples commented on in great detail, Volman convincingly points out that only a handful of price action principles are responsible for the bulk of fluctuations in any market session—and that it takes common sense, much more than mastery, to put these essentials to one's benefit in the trading game. The power of the book lies in the exceptional transparency with which the concepts and trading techniques are put forth. Besides offering the reader a comprehensive study on price action mechanics, included within is a series of six months of consecutive sessions of the eur/usd 5-minute. Containing nearly 400 fully annotated charts, this section alone harbors a massive database of intraday analysis, not found in any other trading guide. Written with a razor-sharp eye for practical detail, yet in a highly absorbable manner, Understanding Price Action breathes quality from every page and is bound to become a classic in the library of any trader who is serious about his education.

Genres: Finance

434 pages, Paperback

First published October 17, 2014

Reviews

[Jamie · Rating 5 out of 5]

In this book, Volman strips down the ever confusing market mechanics to its marrow by showing his readers the ingredients of sound trading techniques and how to cook them in such a way that they could avoid getting burnt by the market.

Unlike other trading books, there is something strikingly clean about the way he explained the elementary concepts of trading while maintaining the poetic nature of written expression.

The first part of his book, the theoretical part, has got to be (hands down) the best price action analysis I have ever read. You could tell Volman isn't just some professional trader writing about trading but also a writer whose words originate from the soul. I'm a big fan, seriously. I have a huge crush on whoever this Bob Volman guy is.

Anyways, in the second part of the book, he has provided hundreds of pages of example trades using the core principles he introduced in the first part, for the readers to find their footing in every kind of market situation. By the time I was done reading the book, I was completely transformed into a different kind of trader. Imagine what it could do to me if I read it three more times!

It always makes me happy to read books that breathe quality on every page.
This book took my breath away.

Easily the best book about trading. It's gonna be hard to top it.

[Minh Vu · Rating 4 out of 5]

Very practical implication on price setup with multiple patterns to be exploited for successful day trading. Though, the most important things is the focus on how to be conservative in choosing the setup with more weights in big picture analysis in chapter 6 and 7. The basis elements of price action for analyzing in Forex market is also highlighted and unambiguously explained.

[Indra Jayanthan · Rating 4 out of 5]

Found it to be a great introduction to the world of price action trading. For someone who is new to price action trading, this book will be very understandable and easy to read. It was the first price action book I read that I could actually comprehend.

However, I must say that content-wise, it is less compared to Albrooks. But, this book is definitely easier to read than Albrooks. I would recommend beginners to start with this book and then move on to Albrooks for more in-depth knowledge.

Overall, I would give this book a 4 out of 5 stars. It is a great starting point for anyone interested in price action trading and provides a solid foundation for further learning.

[Umid Rustamov · Rating 5 out of 5]

The best book i have read about trading

[Steven · Rating 5 out of 5]

good

[Goh Jwee]

332.63222 VOL -[BIZ]