 | Price Comparisons: Rental | | Sorry, the textbook you were looking for is not available as Rental, at any of the stores we searched. | Summaries and Customer Reviews are supplied by Amazon.com | The Encyclopedia of Trading Strategies is for traders who want to take the next step to consistently profitable trading. The authors--themselves seasoned veterans of the futures trading arena--pinpoint the trading methods and strategies that have been shown to produce market-beating returns. Their rigorous and systematic backtesting of each method, using the same sets of markets and analytic techniques, provides a scientific, system-based approach to system development...to help you assemble the trading system that will put you on the road to becoming a more consistently profitable trader. |
Average Customer Rating:   Good but outdated This book needs a complete overhaul.
Markets have changed, tactics have changed and the whole internet and technology boom has had a tremendous effect on markets. There are other books on trading strategy that are more current, and ones that focus on specific markets...such as stocks or currencies. You would be better off with something updated. Generally, from a 'big picture' point of view the book still holds up...but you can find general big picture info at the numerous websites offering free education and lessons.
A new, up to date, well tested and proven version of this is needed. Deceiving name As a software engineer I needed a book that will teach me some trading strategies that I can program and bought this book hoping to find a list/ideas of trading strategies, as you expect from Encyclopedia. Unfortunately this is the most not practical book I have ever read, if you think you'll be able to trade after reading this book you're wrong!
It has academic theoretical discussions about trading systems by testing the most simple and basic setups just to tell you that they don't work if you trade them automatically (crossing MAs, breakouts etc). I'm sorry but you don't need to have Phd to know that, they don't even try to come up with a strategy that work!
Who can benefit from this book? If you are in your Master/Phd studies and looking for theoretical trading academic book, no doubt this is for you, all the rest try something else... A must read if you plan to trade Anyone planing on or currently trading using technical analysis should read this book. The lessens inside can help prevent loss of savings.
This book takes a careful look at various types of technical indicators and trading strategies that use technical analysis, the types of methods commonly found in charting software and technical analysis books. For me the bottom line is that making a consistent income from trading, using technical analysis, is difficult. (Losing money is not so difficult).
The software referenced in the book and available for a relatively small price, is in my opinion very powerful, but difficult to master (C++ source code that must be compiled, debugged for your compiler, and modified to create useful systems). Review of simulation results This book provides an overview on the type of strategies available and shows the results done on the different strategies. For system developers it is useful to know that most strategies - pure trending, oscillators etc do not perform well at all!
What is lacking is a more thorough analysis of the different methods. Overall a useful book which highlight the pitfalls which system developers will fall into. A good starting point for a systems trader The book should be compulsory reading for any aspiring systems trader.
The testing methodology is thorough, and they cover many of the more common approaches to systems trading as well as a few that many will find a tad too esoteric. My only complaint is that the book could present us with more detailed stats on the tested systems. In e.g Way of the turtle (a much less comprehensive text) the author does an excellent job of presenting stats on any tested system, including a number of important measures you will not find in the Encyclopedia. Overall, I still believe it is a must read. For beginners I also recommend the following books (for starters):
Way of the Turtle (Faith)
Evidence Based Technical Analysis
Design, testing and optimization of trading systems (Pardo)
Also, check out the Trading Blox forum at tradingblox.com for
tons of useful info on systems trading.
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