Customer Reviews

Intermarket Trading Strategies (Wiley Trading)

5 star:		(8)
4 star:		(2)
3 star:		(1)
2 star:		(0)
1 star:		(0)

 

 

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.

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 !

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.

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!

Added: 3/20/11 After book, I decided to get the author's chart pattern recognition software to compliment the strategies in the book. I particularly was interested in his new rectangle breakout, modified even further since the book. I bought 500 shares of CIGX on a rectangle breakout from his software, sold it 3 days later and it more than paid for itself. I know that it is not always like that, and I definitely made a high risk trade that could have gone the other way, but I continue to be amazed by Markos Katsanos's expertise. I hope he continues to give us more-- this is not our grandparents equities market and I need all of the practical help I can get!

Ten Stars! This is THE BOOK for the serious trader, amateur and professional alike. Refreshingly quantitative! Not for random walkers, couch potatoes or "Sun won't rise tomorrow because it did yesterday" types. If you can't trade with this nuts and bolts resource then it's time for you to shut it down and start a dividend reinvestment plan.

Katsanos's book is the answer for those who want to profit from the very apparent intermarket relationships that now transcend geography, in the fast-paced liquid global markets of today. He shows the reader, in very clear terms, the importance and opportunity that lies in these relationships. He develops and tests these systems, showing their significance. He explains the methodologies and gives results. He even provides Metastock formulas with which the reader can literally implement what he/she wishes. This one is easily worth ten times its price for the formulas alone. I am especially elated with his regression system-- regression has provided some of the best results in my trading experience.

I have read Murphy, Appel, Elder, Fischer, Faith, Pesavento and so many other greats-- but Katsanos is the best! I have never seen anything like this one in my life. What works? Katsanos shows results. He shows the statistics! He shows the testing! He shows the math! He shows the correlatives and the relationships! He explains the methodologies and systems! He gives you formulas! Pragmatic... awesome!

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.

I am convinced that this book should be read by every serious trader or investor, fundamentalist or technician, dealing in stocks, bonds or commodities.
It is clear written, brief and original; by far the most useful and comprehensive for Trading ETF, Forex ,Stocks and futures with metastock code.
I think this book is one of the best on the subject of Intermarket analysis , functional especially for trading system development in today's volatile markets.

This book is made for professional traders or for new traders who aspire to become very serious about trading. I tried some of the strategies explained in the book with excellent results and I am looking to replicate other great strategies on gold stocks etc. Certainly this book requires you to make the effort of analyzing results, applying strategies to intermarket securities and leaving it to you to decide which strategy is the most suitable to your trading style and risk profile too, but at the end it is time and money really well spent as the rewards are there. Katsanos style is straightforward and unlike many theoretical books this one is made for people who intend to operate in the market and stay in the market for a long time. By far the best book I have read in a long time. I hope the author will come back again in the future with a new book on Neural strategies, that seem to be in line with our times and with actual technology.

Regardless of your instrument,style or time frame this is a valuable resource to explore. Actually, quite impressive, I might add.

Whilst seeking better technical indicators through Google searching, I stumbled onto this wonderful book bny Markos Katsanos. This is a must read for all serious minded traders, who know in there hearts that most of the trading techniques we run into are poor to bad in serving traders with timely entry and exit points.

It was this realisation AND a manual entering for three months of hourly indices from Sydney, where I live and following the sun around the globe. It became apprent that there was a pattern - but my difficulty was, quite what was this that I am seeing?

It was this question that set me off on my quest, to find what the inter-relationships were, should they be true?

I pondered, why if Europe falls by 1% and the US indices do the same by say .8%, then Australia must fall as well. If that is so which shares in the index are hit to provide the moevement. Informal discussion with a few people I had met suggested most said that 'how it is'...I could not accept that generalisation, my MBA studies had taught me that there is an order in all things business and I believed that the markets were manipulated to send signals trapping the unaware 95% of the volume of traders.

If you are a trader also aware that all is now what it seems and that you do not wish to inhabit the world of the 95% of unaware traders, then this book is the point of SALVATION.

Salvation in that a clear, concise explanation of statistical techniques can explain these inter-relationships and the associated indices are explanined in their importance in there use to find proofs for the trading precepts. All trading ideas are rigorously tested with complete explanations.

I found the read taxing in its requirement to bridge a leap of faith - as it deals with no known or poorly covered trading ideas and precepts and requires an open, inquring mind to accept NEW ideas. 95% of traders are still using 1980, slide rule or slightly better scientific calculator methods. These are at best simplistic and most are oriented to averages that are intellectually dishonest in there capability and constant use through the 'industry' selling them as panacea's. Katsanos deals with these from his many published articles over time and this new work on Intermarket Trading.

Katsanos is ahead of his time which for me demonstrates a fine inquiring mind that also found using what everyone else holds as a truth, to be self evidently inaccurate - trading on a Simple Moving Average crossing over is at best a seriously lagged decision in terms of time and the transactions you CAN NOT SEE...they have happened and you will be well after the event. If this rings a bell, then prepare yourself for a substantial intellectual challenge.

This book contains statistically valid methods that should be in the arsenal of any serious trader in today's marketplace.