- Hardcover: 141 pages
- Publisher: Trend Research; Pristine Condition Like New edition (June 1978)
- Language: English
- ISBN-10: 0894590278
- ISBN-13: 978-0894590276
- Product Dimensions: 0.8 x 9 x 11.5 inches
- Shipping Weight: 1.2 pounds (View shipping rates and policies)
- Average Customer Review: 4.3 out of 5 stars See all reviews (32 customer reviews)
- Amazon Best Sellers Rank: #176,769 in Books (See Top 100 in Books)
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New Concepts in Technical Trading Systems Pristine Condition Like New Edition
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Top Customer Reviews
But this book merits more than mere admiration. For traders looking for carefully presented formulas, clear discussions of their logic, and helpful discussion of indicators' interpretation straight from the horse's mouth, this book is a great asset.
I would acknowledge that for discretionary traders who do little if any backtesting or who pay no more than scant attention to indicators other than price, volume, and maybe some moving averages, this book probably won't hit your hot button.
But as a systems trader, I'm especially appreciative, since nowhere have I found a better or more authoritative discussion of ADX and ADXR, two especially potent indicators whose multi-stage calculations haven't been consistently represented in various secondary sources I've examined.
Finally, for traders who tend to enjoy tinkering with the development of their own novel indicators, Wilder's discussions of his conceptual starting points in developing each of his indicators will probably prove very stimulating.
His book is full of innovative and highly creative trading concepts for use in trading systems. In Wilder's time, just like today, several `conventional' trading systems were/are available. Wilder added to these and at the same time expanded traders' possibilities through his brilliant thinking.
In this fully-illustrated book, Wilder begins with the basics, and then takes the reader behind the scenes to explain, in significant detail, the how-to and the why about trading systems, including his famous Parabolic System, the Volatility System, Directional Movement, Wilder's own Relative Strength Index, and other systems as well.
Welles cautiously explains the technical limits of parameters that comprise each system. He is careful to point out that no one trading system works for all market conditions - traders must select and apply the appropriate `tool' for the market conditions.
This book is for cream-of-the-crop traders who want assurance - through thoughtful understanding - that their trades will be winning trades. Such traders do not rely on self-proclaimed experts (who themselves might not even think of trading on a regular basis), but who are quite willing to take traders' money for their advice. Winning, cream-of-the-crop traders want to understand their own trading in order to avoid the pitfalls.Read more ›
Most Recent Customer Reviews
The basic ideas of Wilder's trading systems are well explained in a beautiful book. Not much time is spent on how and when to use the different systems.Published 7 months ago by John Honey
Mathematics applied to market trading. If you are a trader, you'll appreciate these few concepts. Others know and use them so you'll be at a disadvantage if you don't.Published 8 months ago by John E. Moore
A deep technical book describing some of the best time-tested trading tools for stocks and commodities.Published 10 months ago by Glenn E Hoffman
Certainly useful for discipline. Mathematically not always very clear. Stick to one of the systems proposed..if you like it.Published 12 months ago by Walter Pepersack
Amazing book, best of the best. No world to describe the great work done by Welles Wilder.Published 19 months ago by A. Moujoud
I am rating this book 5 stars because when it was first published it changed technical analysis forever. J. Wells Wilder did for traders what Bill James did for baseball. Read morePublished 21 months ago by Steve Burns
The book was written when computers were not available for a lot of people. I expecyed more discussions on the indicators but there ween't any.Published 22 months ago by Takamas Akiyama
God basics for the technician, but there are better sources and all information is free on the internet (if you know where to look). Read morePublished on November 7, 2013 by David Eagen