The Secret Science of Price and Volume: Techniques for Spotting Market Trends, Hot Sectors, and the Best Stocks (Wiley Trading)

Timothy Ord recommends a top-down approach to market analysis. The author, president, editor, and publisher of The Ord Oracle an electronic advisory newsletter that recommends S&P, NASDAQ, and gold stock trades, argues that every trade begins with: 1. Determining the market direction. 2. Selecting the best sectors. 3. Isolating the strongest stocks in the best sectors. There is nothing there that justifies this book's price. What follows, however, is rare insight focusing on the role of volume. Following it focuses the trader's attention on what the market is saying. Ord illustrates his points with recent charts. He describes the trade set up and resolution in language that is clear and simple. The result is a truly useful market approach. By the time I finished the book my head was red from slaps as I thought "Why didn't I think of that?" Many of the insights are easy to implement. Yet, the one I find is the most useful, is one of the first lessons I was taught. "Have patience; wait for the trade to be aligned with the market." I hear it. I know it. I know it to be true. Every time I ignore it, I usually lose money. This book is worth every penny. Its lessons promise to shorten your learning curve on your way to becoming a trader provided you conquer the practice of patience.

Recently ordered 4-5 books on volume and price action. This is the only one that was immediately understandable. Clear descriptions of entries. Only complaint is that it will give a description of a phenomenon and show a chart but the chart will contradict the description and he doesn't explain that at all.

After reading this book and trying out some of these methods I have come to the conclusion that this is something that just doesn't work. If you searched through charts I am sure you could find where this will work sometimes. Almost always though, the stock has already made it's move when you spot these volume spikes. Using a cup with handle formation,and buying at extreme volume dry ups in the handle area work much better than anything in this book. Save your money because there is no secret way to trade stocks and make money. If this worked so well why would someone want to write a book to make money. They could use these methods and make all the money in the world. Also if it did work so well why tell you or me. If we made all this money too we might take up all the parking spaces at the resort.

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...

For those who have read the works of Richard D Wyckoff, the book of Mr. Ord is simply delightful. Mr. Ord diggs into the Wyckoff teachings and offers a new way to look at the markets in which volume is the most important piece. Clear, and concise this book is really good.

I have read multiple books on trading, always with the hope that I will pull one really useful concept from the body of work. One useful concept can save thousands of dollars or better yet make thousands of $$$ if used correctly. We all know stochastics, MACD, and Bollinger Bands, though I pause to ask do we know them as well as we think? You may not use volume in your trading decisions and if you don't my guess is you never really understood how to use it (I did not). Volume is the energy in the market, it is a snapshot of supply and demand. Tim Ord's book gives you that understanding. I especially liked his analysis of volume at support and resistance areas. That alone was worth the price of the book plus some. He also gives an excellent way to see if the market is overbought or sold, also worth the price of the book. You will find a lot of detail about his Ord Volume tool which is available for a fee on his website, and personally I found this both educational and interesting. One of the best books I have read. I highly recommend this book be purchased and read several times. I would also suggest Nisons work on Candles and Bollinger on Bollinger Bands. God Bless to All and Good Trading!

Good

I recommend the book to everyone.