The Secret Science of Price and Volume: Techniques for Spotting Market Trends, Hot Sectors, and the Best Stocks.
Overall, I found this to be a very good book. As a trader, I’ve found Tim’s approach to using volume as a way to measure the strength of a trend and the probability of its reversal or continuation, to be both innovative and well-explained. This approach really breaks down many of the mysteries behind how and why volume is indicative of a market’s strength or weakness and offers objective and simple ways of applying this approach.
Specifically, his creation of Ord-Volume, a measurement of the average volume of a swing, is something I’ve never seen before. And his methods of comparing volume on the retests of previous highs or lows is so clear and simple that, yes, a caveman can actually do it. But more importantly, it makes sense and has provided me with more insight into the market as well as a better structure for my trading.
Contrary to what a reviewer posted previously, you don’t need to buy his software to use his methods. The techniques are very simple, and it’s not difficult to do it yourself with any basic charting program. You may need to crank out a couple of numbers by hand, but all the better, since it will give you a better feel for the markets you trade.
Finally, I have to say that Tim, himself, couldn’t be more accommodating. I’ve peppered him with a few questions, and he’s always responded quickly and thoroughly. A trader’s trader…