20 experts reveal their skills in maximising profitability using computerised trading systems. This guide offers an overview of electronic trading, includes information on design, testing, analysis of strategies, how to read the market, data collection, avoiding mental traps and much more.
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Editorial Reviews
Amazon.com Review
Day trading is not for the weak of heart; it's also not for those reluctant to embrace technology as a means of turning a profit, especially when one considers the competition: institutional investors armed with a wealth of bodies, brains, and expensive computer systems. Editor Mark Jurik's Computerized Trading preps budding day traders to compete with such Goliaths, providing comprehensive resources for investing and trading in an increasingly sophisticated market.
Jurik enlists the help of 20 experts--a mix of veteran traders, consultants, and investment gurus who author individual chapters. His textbook-style primer starts with the basic trading skills needed to design trading strategies and continues with testing and evaluation methods, including an interesting chapter on the psychology of trading. The guide then progresses into more complex indicators, such as nonlinear pricing and reflexivity, as well as market models using data-mining technology. Each chapter includes an introduction and summary, along with scores of graphs, charts, checklists, and case studies.
The guide certainly proves the complexity and potential risks of day trading. Fortunately, it also contributes enough well-rounded information to guide day traders toward profitability. --Rob McDonald
From the Publisher
Prentice Hall regrets the inadvertent omission of figure 9.5 page 147; figure 9.7, page 153; and figure, 9.8, page 155. These figures will be inserted in the next printing of COMPUTERIZED TRADING. An errata has been placed in all copies currently in our inventory. Any purchaser who has a copy of the book from which these figures are omitted can find them on the PHDirect website.
Prentice Hall makes every effort to ensure the accuracy and completeness of all its publications. Occasionally mistakes occur. Then, like now, we correct them immediately. We regret any inconvenience this has caused some of our readers.
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Most Helpful Customer Reviews
20 of 22 people found the following review helpful:
2.0 out of 5 stars
A collection of articles about investing,
By +++ (OR, United States) - See all my reviews
This review is from: Computerized Trading: Maximizing Day Trading and Overnight Profits (New York Institute of Finance) (Hardcover)
This book is written by 21 authors guided by one editor. All these 22 people are certainly experienced traders, but unfortunately most of them are inexperienced writers. When I got this book in my hands I was initially excited and impressed. As a matter of fact, I thought that this book may be the best one I saw so far: it is thicker than most other books on trading (415 pages), it seems to be written in unusually professional and serious language, and the table of contents promises that all substantial aspects of trading and portfolio management are covered.However, I was quickly disillusioned when I started reading it. The thing is that each of 21 distinguished traders got a task of writing a 15-page essay on topic suggested by the editor. They did it to the best of their abilities, but unfortunately they did not succeed in creating anything better than a collection of articles on the subject of investing, which makes the impression of a bunch of trees with no forest in sight. There is no consistency in this book: some things are repeated over and over again whereas others are mentioned but never explained, some things are unnecessary and uselessly detailed, whereas the others are too general. The chapters do not provide sufficient background and support for each other as they should. Some chapters are excessively academic; some are totally out of date as they advise to call your broker to buy or sell securities, or give detailed explanations how to write a program to build a plot of a technical indicator which now can be downloaded for free from many different web sites. Even though everyone has a good chance to find a few useful tips in this book (I, for instance,liked chapters on strategies of entering and exiting the market), the overall useful outcome is quite disappointing and way below not only of what these authors could potentially teach the readers given their experience and knowledge, but also below the average level of literature on investing. Therefore I could not give "Computerized trading" more than a 2 star rating, and I strongly recommend against buying it.
13 of 14 people found the following review helpful:
5.0 out of 5 stars
A very valuable resource for all traders.,
By Drew Sands (DrewSands@aol.com) (San Diego, CA) - See all my reviews
This review is from: Computerized Trading: Maximizing Day Trading and Overnight Profits (New York Institute of Finance) (Hardcover)
This book offers valuable information on a variety of critical subjects for both the beginning trader and traders with extensive experience. As an edited book, it assembles the ideas of many authors and presents the information within an overarching framework of four sections: (1) Basic Trading Skills and Methods, (2) Testing and Evaluation, (3) Assessing the Market and Yourself, and (4) Advanced Indicators and Forecasting. As with any edited book containing chapters from various authors, each with unique knowledge, perspectives, and writing style, the chapters are somewhat heterogeneous. While the reading would have been smoother if one author had written about all the subjects covered, the collective expertise offered by the various authors is far more important. Mark Jurik has made a significant contribution to the field of computerized trading by editing this very valuable resource book and making the collective experiences and wisdom of many experts available in one book.
7 of 7 people found the following review helpful:
4.0 out of 5 stars
Helpful tools from traders, for traders,
By A Customer
This review is from: Computerized Trading: Maximizing Day Trading and Overnight Profits (New York Institute of Finance) (Hardcover)
This book is broken up into sections where many different traders share their views on trading using fundamental and technical tools. This is not by any means a comprehensive book on technical analysis. However, it is a great read in order to get the "Big Picture" in the world of trading. Although I enjoyed this book a great deal, someone serious about trading with technical analysis should read Murphy's "Technical analysis of financial markets" or Pring's "Technical analysis explained".
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