For a while I have been on the lookout for a book on Indian Indexes. Recently a fellow trader recommended this book and I thought of giving it a read. Thanks to my dyslexia I am not a big reader of books, but given that I didn't have any choice here, I thought of reading it.
Before I share my thoughts on the book here are a few excerpts from the book which resonated with me.
I only wish people understand this fact about indicators.
As Larry Williams says, patterns form because of the way humans/human emotion reacts to the price, and human reaction of greed and fear does not change.
I have spent months and months looking at footprint charts to see if it could give me a edge in scalping, and I didn't find any. Took some time to realise that price by itself is good.
This one is gold according to me, I think this is something I share with all developing traders that work with me.
With the excerpts covered here are my thoughts on the book.
- This is a first of its kind, in terms of a book which uses NIFTY 10 year historical data to analyze price patterns.
- Very objective and measured in its approach.
- A good primer to understand NIFTY
- A good start to get ideas about testing NIFTY data and creating your own trading set ups.
- A must read for anyone trading NIFTY on any time frame.
Here is the Amazon link for you, i.e if you want to buy the book. High Profit Trading Patterns Paperback – by Kora Reddy
Request - For heavens sake don't photocopy this book or buy a pirated version. That's the best way to dis-incentivize more people from writing a book.