New Concepts in Technical Trading Systems (Hardcover)

by J. Welles Wilder (Author)

Product Details

• Hardcover: 142 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: 4.2 out of 5 stars See all reviews (16 customer reviews)
• Amazon.com Sales Rank: #186,675 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

83 of 84 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)

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.

23 of 24 people found the following review helpful:

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

By A Customer

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.

33 of 45 people found the following review helpful:

5.0 out of 5 stars The basic book of technical analysis..., February 18, 1999

By A Customer

Many books are written about the subject. Technical Analysis and its attractive concern on trading and winning, makes such books magical. But only thing thats important is that you must have your own system. Your loss and risk tolerance. Also your necessary "take gain" point. In this case tools are important, not whole systems which belongs to their owners! This book is that tool box and I think; one and only! Understand the tools for your own systems design... There is no right system, but yours !!!