New Concepts in Technical Trading Systems [Hardcover]

J. Welles Wilder (Author)

Product Details

• Hardcover: 141 pages
• Publisher: Trend Research; First Edition edition (June 1978)
• Language: English
• ISBN-10: 0894590278
• ISBN-13: 978-0894590276
• Product Dimensions: 11 x 8.5 x 0.9 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.3 out of 5 stars  See all reviews (18 customer reviews)
• Amazon Best Sellers Rank: #240,370 in Books (See Top 100 in Books)
  • #41 in Books > Business & Investing > Industries & Professions > E-commerce > Online Trading

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Customer Reviews

Most Helpful Customer Reviews

107 of 109 people found the following review helpful:

5.0 out of 5 stars An original work of enduring value from a true innovator, November 30, 2002

By 

Erik C. Olson (Crystal Lake, IL USA) - See all my reviews
(REAL NAME)   

This review is from: New Concepts in Technical Trading Systems (Hardcover)

Parabolic SAR, Relative Strength Index, Directional Movement Index (ADX) -- developing even just one of these would constitute an important contribution to technical analysis. Yet all of these popularly followed indicators and more were the work of this one man and were first popularized in this single 1978 classic.

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.

29 of 33 people found the following review helpful:

5.0 out of 5 stars A classic, July 5, 2003

By A Customer

This review is from: New Concepts in Technical Trading Systems (Hardcover)

You'd have to appreciate that nearly every method or tool in this book is almost common knowledge. RSI, ADX, DMI, Parabolic, volatility breakouts, pivot point reversals and so forth are all commonly used nowadays. However, back in 1978 when it was hand calculated and charted.. Wilder probably had no idea how revolutionary his work has become.

11 of 11 people found the following review helpful:

5.0 out of 5 stars New Concepts explains it perfectly, March 16, 2007

By 

J. Chesnulevich (Hudson, NH) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: New Concepts in Technical Trading Systems (Hardcover)

I bought this book mostly for the Directional Movement System. I have been trying to figure out the best way to use this system for some time, and could not get a handle on how to effectively trade with it. I found the explanation of the way the system is constructed to be very helpful. There is not a lot of text explaining how to use the different systems. but,if you understand the concept of what is being measured and how the indicator got there, the rules of applying the system is quite easy. Only time will tell if I am on the right track, but today I feel more confident when making a decision on when to take a position.