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To learn more about Amazon Sponsored Products, click here. When mechanical trading systems were first introduced into the arsenal of trading tools, the trader interested in utilizing these tools would have needed programming expertise, a strong background in mathematical technical analysis, and iron-willed discipline. Today, trading system software developed by market-data vendors has become so user-friendly, that nonprogrammers with only a rudimentary understanding of mathematical technical analysis can successfully create and backtest simple trading systems like those offered throughout this book.
In Mechanical Trading Systems, Richard Weissman uses his experiences as a trader and trading systems expert to take this concept to a new level.
Filled with in-depth insight and practical advice, this book examines the development process for choosing and using mechanical trading techniques in conjunction with trader psychology. Mechanical Trading Systems skillfully explores the dangers in system development and how to avoid them; how backtesting and forward testing of trading systems aids in quantification of price risk; and the methods of improving rates of return on investments without significantly increasing risk.
Mechanical Trading Systems offers a wide variety of flexible trading systems that combine sophisticated technical analysis with trading psychology theory. If you plan on improving your trading skills, this comprehensive resource can help you succeed.
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A wide variety of flexible trading systems that combine sophisticated technical analysis with trading psychology theory Mechanical Trading Systems examines the development process for choosing and using mechanical trading systems in conjunction with trader psychology.
This book discusses the advantages and disadvantages of mechanical trading systems; the dangers in system development and how to avoid them; the optimal methods for back-testing trading systems; position sizing and other risk quantification tools; and methods of improving rates of return on investments without significantly increasing risk. Most importantly, through a detailed examination of various types of unsuccessful trader personality traits e.
Weissman Port Richey, FL has seventeen years' experience as a trader and developer of trading systems. He currently provides independent consultation an d training services to traders and risk management professionals in the areas of technical analysis, risk management, and trader psychology. Read more Read less. See all buying options.
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Trading in the Zone: Customers who viewed this item also viewed. How to Get Things Right. Review "The book is highly recommended for almost anyone involved in trading, forecasting, or studying the markets.
Some of the other issues discussed within these pages include: Wiley Trading Book Hardcover: Wiley; 1 edition December 3, Language: Share your thoughts with other customers. Write a customer review. Rated by customers interested in.
Is this feature helpful? Thank you for your feedback. There was a problem filtering reviews right now. Please try again later. This book shows traders how to build a trading system that fits them.
The books takes readers on the choices of time frame that will be employed and whether it will be a mean reverting or trend following system. Types of technical indicators are explained channel breakouts, oscillators, moving averages, MACD, ADX, Bollinger Bands, and many others along with how best to use them based on system philosophy.
Richard Weissman does the crucial job of explaining the psychological profile needed to trade the different robust methods that can be used by traders. Regardless of back tested results some people can not handle draw downs or low winning percentages when their system is live with real money.
Richard explains what the trader is getting them-self into. The mandate of the book is that a system must have a large enough sample size to show that it is profitable through multiple market environments and has almost no risk of ruin with proper position sizing. This book does a great job of covering how to implement a mechanical trading system and gives many examples of systems. It also covers the psychological need for discipline in system execution and risk management.
This book is just packed with useful information for traders at all levels. I highly recommend this book. Richard Weissman continues to be one of my favorite trading authors and an inspiration to aspiring traders. Was this review helpful to you? Excellent companion with Trade like a Casino. Kindle Quality very BAD!!! Kindle Edition Verified Purchase. The low Rating is not because of the content quality of this book, It's brilliant!
The reason for the low score is the Quality of the electronic version of this book. I understand that this book is out of print, but the ebook looks like it's literally been photocopied from the printed version, actually it looks like a photocopy of a photocopy. The fonts and headings are not clear, to the point that some headings are almost unreadable. Graphics and Tables are clear and very readable, so they must have been replaced during the reproduction of the Kindle version.
Honestly has the publisher not heard of OCR? I would have though that for the price of the electronic version of this book that a cleanup and conversion to fully digital format would have been done properly and done the content the justice it deserves, a pity as the content is gold.More...