Someone says life has three best teachers: heartbreaks, empty pockets, and failures.
Fortunately, price action traders can avoid “these greatest teachers” with a quick read.
Nothing can beat a book when it comes to learning new things. It may prevent you from repeating others’ failures.
That means you can avoid blowing up your trading account and ending up with an empty pocket. As a result, you can stay away from heart attacks.
With the right combination of great price action trading books and free online resources like blog posts, tutorials, and videos, you can connect your various puzzle pieces to form a comprehensive picture of price action.
However, there are thousands of books on this subject at online and offline bookstores.
It can be overwhelming to choose the best fit for your level and interest among so many options available.
So, here are three price action trading books if you are looking for a quick read.
Whether you are a newbie or an expert, a swing trader or a pure price action analyst, you can find at least one book that you can refer to.
With each recommended book, you can find the year of the publication, the advisable type of readers, and the book’s highlights in this post.
#1 Price Action Trading Secrets
Price Action Trading Secrets was written by Rayner Teo – one of the most followed traders in Singapore.
Rayner is known for a series of trading videos on his YouTube channel, sharing knowledge about price action trading, stocks, forex, and technical analysis.
His book was first published on March 28, 2021. He keeps it light and short, with only 142 pages.
The book promises to help readers become consistently profitable traders through proven trading strategies, tools, and techniques.
Who is this Book for?
Price Action Trading Secrets is one of the beginner price action trading books.
It was written in a conversational style and layman’s manner. The book explains general concepts and introduces basic things you need to start trading.
It also provides step-by-step instructions on how to conduct a trade based on price action.
It’s easy for novice traders to understand and follow the strategy even if they don’t know anything about price action trading.
According to the book introduction, you will master the fundamentals first. Later, Rayner will expose you to advanced price action trading strategies and techniques.
What Makes the Book Different?
The book offers a quick reference for newbies. It is a summarized version of the basic principles and technical analysis in trading.
It provides an inclusive market overview and discusses what traders can expect from the market in reality.
After a quick read, you will understand the importance of having a trading plan. Rayner also suggests some ideas on how to formulate your strategy and plan a trade.
In the book, he will reveal things 95% of traders don’t know. These are the reasons why they can’t beat the market.
Besides, you can consolidate your knowledge about the four types of market structures to become a successful trader.
You can also improve reading candlestick patterns and learn more about support and resistance.
Furthermore, explore his MAEE Formula to trade in both bull and bear markets without using indicators, news, or signals.
Last but not least, you will get inspired reading the last chapter when Rayner shares his brief biography.
#2 Price Action Breakdown
How come my charts move so fast at times and so slowly at others? How are the charts telling me something?
If you have trouble with these similar questions, Price Action Breakdown by Laurentiu Damir is one of your must-read price action trading books.
With 108 pages, the book is short, straight to the point, and packed with valuable information. It may be a missing puzzle in your trading career.
Who is this Book for?
Price Action Breakdown came out on February 20, 2016. The book is best suited for newbies with fundamental knowledge of financial markets and trading platforms.
You won’t find basic concepts like leverage, pips, risk management, trend lines, support, resistance, or candlesticks.
Instead, you will adopt more advanced approaches that are easy to understand if you already acquire the basics of price action.
Besides, it is one of the most recommended price action trading books for chartists – who prefer a technical trading style.
In other words, it is for those who love interpreting trading signals and visualizing patterns and trends on a chart to identify opportunities.
You have to do the work yourself. That’s why a trader who relies on an indicator or an automated trading platform may not benefit from this book.
What Makes the Book Different?
Price action trading books, articles, and videos are widely available on the Internet.
However, Price Action Breakdown will bring you freshness around this topic. It covers concepts and techniques that you are likely to find nowhere else.
Many traders will find this book an eye-opener or a game-changer. Since it provides brand-new ideas such as fair value area, control price, and market structure.
It provides different perspectives on the market dynamics and dramatically changes how you look at price action.
The only focus of the book is on pure price action analysis, without relying on any other technical indicators or additional tools that may confuse traders.
Laurentiu lets you expose yourself to the market supply and demand logic. And, provide you with the framework to interpret the price movements on your chart.
He also shows you how to combine these elements into a logical strategy for entry and exit.
Notably, you can apply the knowledge to trade in any financial market, for example, stock, forex, commodities, indices, futures, etc.
You will be amazed at the simplicity of the easy-to-follow process. By practicing the knowledge, you can become a versatile trader over time.
#3 In depth Guide to Price Action Trading
This is another fascinating guide in a series of influential price action trading books by Laurentiu Damir.
This book was published eight months after Price Action Breakdown, in October 2016. Like its older brother, it is a quick read with only 102 pages.
The book looks like a great compliment to Price Action Breakdown. It provides detailed insights and trading techniques you will need as a trader.
Who is this Book for?
In-depth Guide to Price Action Trading is not an introductory book for rookies.
It is highly recommended for those who’ve already mastered the basics of price action or traded for at least several months.
If you’ve been trading for a while, it is easy for you to relate to common mistakes pointed out in the book.
In addition, if you are looking for a way to improve your chart-reading ability and fine-tune your trading skills using charts, this book is definitely for you.
Through the book, you can learn an in-depth breakdown of price action movements as well as the most efficient techniques of market analysis.
What Makes the Book Different?
In-depth Guide to Price Action Trading focuses on pure price action interpretation without using other lagging indicators.
A clear path to broaden your understanding of price action is provided in the book. You will find an in-depth analysis of price action movements.
In addition, you will learn how to read and analyze your trading charts to predict price action trends and patterns to make probability trades.
The book will also offer a highly efficient and complete swing trading strategy. Therefore, it is a good read if you are a swing trader.
The strategy is simple to digest and easy to follow as Laurentiu makes complex concepts simple and practical.
The book is an actionable guide. It provides clear and objective examples of different trading methods with chart explanations.
It also lets you take time to practice through various exercises that mimic real trades.
Although the book is specifically written for the forex market, you can apply what you learn in other liquid markets such as stocks, futures, commodities, or indices.
Final Words
Above are 3 quick-read price action trading books for busy traders. However, if you don’t like reading books. Or, if you are a visual or kinesthetic learner, visit our YouTube channel for many helpful videos about price action trading indicators and patterns. Alternatively, you can book a free 1-on-1-demo with us.
