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Intermarket Trading Strategies [Hardcover]

by Markos Katsanos
4.6 out of 5 stars  See all reviews (13 customer reviews)

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Book Description

January 20, 2009 0470758104 978-0470758106 1
This book shows traders how to use Intermarket Analysis to forecast future equity, index and commodity price movements. It introduces custom indicators and Intermarket based systems using basic mathematical and statistical principles to help traders develop and design Intermarket trading systems appropriate for long term, intermediate, short term and day trading. The metastock code for all systems is included and the testing method is described thoroughly. All systems are back tested using at least 200 bars of historical data and compared using various profitability and drawdown metrics.

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Editorial Reviews

From the Inside Flap

Intermarket Trading Strategies explains how markets interact and influence each other and how intermarket analysis can be used to forecast future equity and index price movements by introducing custom indicators and intermarket trading systems.

Single market technical analysis indicators were designed in the 80s for national markets, and are no longer sufficient for analyzing the global market dynamics. This book reveals how you can combine intermarket with classic technical techniques to develop profitable hybrid systems or improve on existing ones.

Divided into two parts, part one begins with a discussion of the basic principles of Intermarket analysis and the benefits of portfolio diversification by including uncorrelated assets such as commodities and foreign currencies. It goes on to explain the concept of correlation and the basic assumptions used before demonstrating the linear regression method used for predicting one security based on its correlation with related markets. A variety of custom intermarket indicators are presented and explanations are given as to how each one can be used within the framework of a trading system, including eight new custom Intermarket indicators published for the first time in this book.

Part two uses the concepts presented in part one to develop intermarket trading systems to trade popular markets like US and European stock Index futures, FOREX and Commodities. Techniques for developing a trading system and evaluating the test results are presented along with suggested methods of avoiding curve fitting and the illusion of excellence created by optimization. Stop-loss and other money management techniques are also discussed. Finally a brief introduction to neural network systems explains the basic principles of this alternative approach for designing trading systems.

A total of twenty nine conventional and five neural network trading systems, appropriate for long and short term and even day trading, are provided to trade Gold, the S&P ETF (SPY), S&P e-mini futures, DAX and FTSE futures, Gold and Oil stocks, Commodities, Sector and International ETF, the Yen and the Euro. Finally a dynamic asset allocation timing strategy which would systematically keep the portfolio moving into the strongest asset classes or sectors, enhancing the return characteristics while decreasing the overall volatility, is also included. The metastock code for all systems is provided in order to test and paper trade the system on more recent data before you move from the computer to the trading desk.

From the Back Cover

"When I started my research on intermarket analysis in the early 90s, there were only very few analysts active in this field. John Murphy was the first to introduce Intermarket relationships and I was the first to publish mechanical trading strategies using them. Others have followed up over the years but with very little original research. This is the first book I have seen in years with new material, ideas and trading systems that helps advance the field of Intermarket analysis. I have read many books and articles during my career and I think that this book is one of the best on the subject and it will become a great reference for applications of Intermarket analysis and especially trading system development in today's volatile markets."
Murray Ruggiero, Vice President of Research and Development of TradersStudio software, contributing editor of Futures Magazine and author of several books on trading systems and Intermarket analysis

"It is clear from reading Intermarket Trading Strategies that Markos Katsanos has combined technical competence with common sense to bring a breath of fresh air to active investors. His examples are timely and well thought out, reflecting an awareness of our high-risk environment. He understands and explains the important principles underlying successful trading and offers his solutions. I can highly recommend it."
Perry Kaufman, trader and author of The New Trading Systems and Methods

"Before designing a trading system, it is absolutely necessary to gain a deep understanding of the markets. Markos Katsanos does an excellent job of explaining the relationships between different markets through the use of statistical tools, which he does in clear and simple language. Readers of this notable book will be better able to create trading systems that can conquer any market."
Jayanthi Gopalakrishnan, editor of Technical Analysis of Stocks & Commodities magazine


Product Details

  • Hardcover: 430 pages
  • Publisher: Wiley; 1 edition (January 20, 2009)
  • Language: English
  • ISBN-10: 0470758104
  • ISBN-13: 978-0470758106
  • Product Dimensions: 9.1 x 6.1 x 1.2 inches
  • Shipping Weight: 1.7 pounds (View shipping rates and policies)
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (13 customer reviews)
  • Amazon Best Sellers Rank: #884,115 in Books (See Top 100 in Books)

More About the Author

Markos Katsanos is a technical analyst, trading system developer and author.
He is a contributing author for "Technical Analysis of Stocks & Commodities" and a member of the Technical Securities Analysts Association of San Francisco (TSAASF).

He is the inventor of two new technical indicators. In showing the relationship of volume to price movement, his Finite Volume Element (FVE) and Volume Flow (VFI) Indicators have become popular tools used by traders and the code was incorporated in almost all Technical Analysis and trading software.

Originally an engineer, he has traded stocks and commodities since 1987, starting with fundamental analysis and with his engineering training he quickly gravitated to technical analysis of the markets.
With more than two decades of experience in computerized analysis of stocks and futures, he has spent years refining his methods to come up with some of the most profitable strategies for choosing trades.
He specializes in mechanical systems and has constructed dozens of systems for his clients and his own use.

His latest article "To cover or not " which introduced a new option trading strategy was published in the September 2012 issue of S&C.
He can be reached at markos.katsanos@gmail.com or through his website http://www.mkatsanos.com/


Some of the author's other publications include the following:

1) Detecting Breakouts, Technical Analysis of STOCKS & COMMODITIES, Volume 21 : April 2003
2) Detecting Breakouts in Intraday Charts , Technical Analysis of STOCKS & COMMODITIES, Volume 21 : September 2003.
3) Using Money Flow to Stay with the Trend ,Technical Analysis of STOCKS & COMMODITIES, Volume 22 : June 2004
4) Volume Flow Performance, Technical Analysis of STOCKS & COMMODITIES, Volume 22 : July 2004.
5) Las Vegas or Los Nasdaq , Technical Analysis of STOCKS & COMMODITIES, Volume 23 : January 2005.
6) Flags and Pennants , Technical Analysis of STOCKS & COMMODITIES, Volume 23 : April 2005.
7) Detecting Breakouts from Flags and Pennants ,Technical Analysis of STOCKS & COMMODITIES, Volume 23 : May 2005.
8) Bear Flags , Technical Analysis of STOCKS & COMMODITIES, Volume 24 : May 2006.
9) How effective are Rectangles? Technical Analysis of STOCKS & COMMODITIES, Volume 25 : June 2007.
10) Trading the Aussie dollar, Technical Analysis of STOCKS & COMMODITIES, Volume 27 : February 2009.
11) Intermarket Trading Strategies, John Wiley & Sons, February 2009.
12) Intermarket Soybean Strategy "Futures & Options" March 2009.
13) Intermarket Soybean Strategy "Active Trader" May 2009.
14) A seasonal system for trading Soybean futures, "Technical Analysis of STOCKS & COMMODITIES", Volume 27 : November 2009.
15) Comparing seven Money flow Indicators, "Technical Analysis of STOCKS & COMMODITIES", Volume 29 : July 2011.
16)  Gold and the European Crisis. , "Technical Analysis of STOCKS & COMMODITIES", Volume 30 : January 2012
17) To cover or not , "Technical Analysis of STOCKS & COMMODITIES", Volume 30 : September 2012

Customer Reviews

Most Helpful Customer Reviews
12 of 12 people found the following review helpful
5.0 out of 5 stars A must read for every serious trader. March 6, 2009
Format:Hardcover|Verified Purchase
This book is a must read for every serious trader. It is an original work and a very serious method to clarify intermarket relationships, especially in volatile markts, like these, where even seasoned traders start to doubt their abilities to navigate through them. What I like about it, is it's scientific approach, using vast amounts of data to prove it. A very helpful introduction makes it easier to follow the rest of the book. Excellent work.
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18 of 20 people found the following review helpful
5.0 out of 5 stars A serious book for ever serious trader ! February 5, 2009
Format:Hardcover
The Intermarket analysis is poorly covered in current literature, with few books of historical data and boring details.
Instead in this book the Author, who has mastered the Intermarket analysis, shares discoveries on market correlations, and helps reader to develop indicators and strategies for Etf, Futures and Stocks.
This book makes easier to understand today markets, and I suggest it for intraday and both long and short term trading. It is not for fiction traders who bet on markets direction, but for people really trading their own accounts, studying a lot of technical analysis and pondering experts ideas.
The book is written in plain English, contains useful info on international markets, and a lot of MetaStock (MS) codes to help users to design (or improving their) trading systems, even you aren't the best programmer. Users of other technical software can easily develop their trading strategies, because in the Appendix there are the MS formulas and Test Specifications for all systems.
Reading this book grow up your fever to go to your pc for studying the correlations Author disclosed, and training with his trading strategies !

Minus : discussion on fuzzy logic and genetic algorithms are very introductory (but these are very specific topics). Author limited his Intermarket analysis to major markets, and not all exchange products are covered.

Plus : the best book on the subject I ever red : the Intermarket concepts behind trading ideas are well explained. Trading strategies are deeply tested. Author insights help to really make money in today markets. Good value for price : many systems described would cost hundred dollars to buy !
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8 of 8 people found the following review helpful
Format:Hardcover|Verified Purchase
Markets are interconnected. Typically, what is good for stocks is bad for bonds. What is bad for U.S. equities is rarely ever good for German stocks. Usually what is good for gold is bad for the dollar. Understanding these relationships and how you can use them in your trading and investing is the essence of Mr Katsanos' book.

The most important aspect of the book for me as a retail trader and investor: Traditional technical analysis is severely limited to security price and volume relationships alone. Intermarket analysis adds a second dimension that is much more grounded in statistics and logic. Mr Katsonos does a great job in proving and demonstrating this point with detailed analysis and extensive test cases.

Basic knowledge of statistical analysis helps, but the author methodically walks through commodity - currency - stock - bond correlation analyses and the derivation of new trading indicators. And then he demonstrates their use in multiple well documented test cases.

The author offers a pragmatic, practical approach that can be readily implemented by retail traders. Reading the book is time well spent.
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5 of 5 people found the following review helpful
5.0 out of 5 stars Nuts and bolts pragmatic... Awesome! March 6, 2011
By Chris
Format:Hardcover|Verified Purchase
Update- 11-29-13 For those interested, Markos Katsanos has authored another juicy article in Technical Analysis of Stocks and Commodities magazine. As usual for him, and unusual for others, he supplies excellent scientific statistical analysis to back his results. If you have doubted the value of technical analysis vs. fundamental, then this is a must read. If you have his book, then you, no doubt, will rush to read December's TASC issue-- it may be all we get for a while. They also had TASC reader's choice survey this month-- I could honestly vote him #1 but had a tough time with #2 or 3. I can't imagine not having his book Intermarket Trading Strategies (Wiley Trading) and software.

Added 7/24/11 Markos Katsanos is a revered contributor to "Technical Analysis of Stocks and Commodities." He has just written an article in the July issue, which tests several money flow indicators. The conclusion I have drawn from the statistics and testing is that the VFI or Volume Flow Indicator (Which Katsanos invented, by the way), shows the best overall performance of the seven indicators tested, when taking risk, accuracy, profitability and consistency into account! I continue to be amazed by this indicator. It is a Godsend for keeping out of trouble before it starts, but is great for playing offense, too. I wanted to share this with potential purchasers of this book because it is just one more thing in his book that makes it worth many times the purchase price alone. I highly recommend this book to any and every trader and investor who cares about their assets. It is also a great gift for someone you care about, who is involved with the markets!
Read more ›
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3 of 3 people found the following review helpful
4.0 out of 5 stars Good book on creating trading strategies February 11, 2010
Format:Hardcover
Numerous trading strategies for different markets. Easy to read and understand. Probably not for a beginner but for someone who has at least learned some basics of mechanical trading system design.
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Most Recent Customer Reviews
4.0 out of 5 stars Riding the "intermarket" hype?
Markos Katsanos wrote this book in 2008, a time when intermarket Trading was not as much hyped as it is today. Read more
Published 13 months ago by Dr. Ulbrich
5.0 out of 5 stars Great ideas and hints to be used in our own systems
I'm a professional Chartered Financial Technician specialised in futures trading strategies and intermarket analysis. Read more
Published on March 21, 2012 by Andrea Forni, CFTe
5.0 out of 5 stars A must read for really serious traders!
This book is made for professional traders or for new traders who aspire to become very serious about trading. Read more
Published on February 26, 2011 by Hedge Fund Analyst and investor
5.0 out of 5 stars OUTSTANDING - In Depth Statistics Explains the Markets...
Whilst seeking better technical indicators through Google searching, I stumbled onto this wonderful book bny Markos Katsanos. Read more
Published on June 12, 2010 by B. J. Keown
3.0 out of 5 stars Lot's of information, not sure if applicable to today's markets
Most of the problem I can see in this book is a time gap from when it was written to when it was published. Read more
Published on September 4, 2009 by Avery B. Wolinsky
4.0 out of 5 stars Perhaps Discretionary Traders Should Review
Regardless of your instrument,style or time frame this is a valuable resource to explore. Actually, quite impressive, I might add.
Published on August 9, 2009 by infolode
5.0 out of 5 stars Title1
This book contains statistically valid methods that should be in the arsenal of any serious trader in today's marketplace.
Published on February 12, 2009 by Peter Day
5.0 out of 5 stars Intermarket analysis
I am convinced that this book should be read by every serious trader or investor, fundamentalist or technician, dealing in stocks, bonds or commodities. Read more
Published on February 12, 2009 by S. Cohen
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