The Ultimate Trading Guide (Hardcover)

~ (Author), George Pruitt (Author), Lundy Hill (Author) "This chapter covers the set-ups for profitable trading-looking at the big picture to determine where the market is in its overall development..." (more)
Key Phrases: open range breakout, range breakout system, opening range breakout, Japanese Yen, Swiss Franc, Deutsche Mark (more...)

Editorial Reviews

Product Description

How to Spot Short-Term Trends, Trading Systems That Work, Money Management Techniques, and Patterns for Profit

Become the ultimate trader!

The Ultimate Trading Guide is your chance to get what every trader wants, but few have: the know-how to develop and correctly use a logic-based, reliable, and profitable methodology for successful buying and selling–now. In this complete tutorial, one of today’s most respected analysts and his partners provide you with all you need to know to develop an original, computerized system that works for you.

"Can you make money trading the markets with a system? You bet, and this is the book that shows how it’s done, based on decades of research and actual trading."–Larry Williams, Author, Day Trade Futures Online and Long-Term Secrets to Short-Term Trading

"Traders at all levels of experience will find a treasure chest of knowledge and guidance in The Ultimate Trading Guide. Advice from these expert authors, gained over decades of trading, research, and study of markets and systems, is virtually priceless. This book receives my highest recommendation."–Edward D. Dobson, President, Traders Press, Inc.

"John Hill, George Pruitt, and Lundy Hill are the acknowledged masters in the design and development of mechanical trading systems. So it’s no surprise The Ultimate Trading Guide gets my highest recommendation for those interested in the mechanized trading of stocks and futures." –Gary Smith, Author, How I Trade for a Living

"A well-written and thoroughly enjoyable book. It is filled with refreshingly new ways of looking at the market, combined with valuable perceptions that can only come from John Hill’s years of experience and the ability to see the big picture. My congratulations to John for his tenacity in delivering Futures Truth." –Perry Kaufman, Author, Trading Systems and Methods, President, Strategic Market Systems

From the Inside Flap

With the recent explosion in the popularity of trading, nearly everyone who trades wants a trading system–a methodology for buying and selling. A trading system can be a useful tool–provided the trader has the know-how to use it correctly. Unfortunately, few traders do. In this indispensable book, John Hill, one of today’s most highly regarded analysts, and his partners, George Pruitt and Lundy Hill, enable traders to develop original systems that they can use to increase their trading profitability.

Demonstrating that a system is only as reliable as the criteria on which it is based and the information that is fed into it, the authors provide traders with the tools needed to develop systems based on sound logic, including complete explanations of:

• The principles behind trading systems
• How various systems operate for
• accounts of all sizes, ranging from
• amounts of $10,000 to $1,000,000
• The tools and background necessary for developing computerized trading systems that are backtested (i.e., tested on existing historical data) and will be profitable in the future
• Short-term market timing techniques for any market

...and much more. Stock, futures and options traders, and individual investors will find that this complete, highly effective tutorial is truly the ultimate in successfully developing and utilizing trading systems that really work.

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Product Details

• Hardcover: 320 pages
• Publisher: Wiley; 1 edition (January 15, 2000)
• Language: English
• ISBN-10: 0471381357
• ISBN-13: 978-0471381358
• Product Dimensions: 9 x 6.3 x 1.1 inches
• Shipping Weight: 12 ounces (View shipping rates and policies)
• Average Customer Review: 3.9 out of 5 stars  See all reviews (18 customer reviews)
• Amazon.com Sales Rank: #317,091 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

16 of 16 people found the following review helpful:

3.0 out of 5 stars Not quite the Ultimate Trading Guide..., December 7, 2001

By	"lmm-trader" (Lisboa, Portugal) - See all my reviews

It's not easy for me to review this book. If I were a beginner I don't think i'd go very far with it. To the more experienced trader, he will surely find something to suite his whatever style of trading, but never leading you to the point of re-thinking a trading system... unless you were losing money already!

The book tries too hard to show all there is about trading, but never going deep enough to explain things in detail, hence the fact that it's not for the beginner...

I found some interesting stuff on it, particularly on patterns, but when you get to the end of it, it leaves you with this feeling that something is lacking.

But don't let my words put you off; it's a 'good enough' one if you already know your way around in Technical Analisys and are looking for something more to spice up your creativity to apply to your own trading system.

17 of 18 people found the following review helpful:

4.0 out of 5 stars A Complete Insight Into The Ultimate Trading Guide, August 23, 2002

By	Tradingmarkets.com (Los Angeles, CA) - See all my reviews

No news here. these guys are purely technical. Hill, Lundy and Hill have written their book from years of experience with mechanical trading systems that have made them highly regarded experts. In black and white, what works and what doesn't, will be made clear to the reader from the knowledge of its authors.

It is estimated that 80% of the 30 billion dollars in the managed futures industry is traded by systematic methods. It is also estimated that 80% of the traders lose money. This book was written to allow traders to recognize and exploit an edge in the markets. Examples in both the futures and securities are made to prove the authors' point.

In the beginning, there is the almighty bar chart and a whole chapter devoted to its proper interpretation. According to these guys, all you need to know is in the charts and nowhere else. And with those bar charts a very simple and complete take on the Elliot Wave Theory will demystify even the most obtuse of the technically impaired. Walk-through examples of trading styles and applications of chart patterns are engaging and relevant to all kinds of markets.

The book contains an introduction to mechanical trading systems. Tips on what to look for and where not to look for a system will be very valuable to the inexperienced. Advice on hardware, software, data and testing are also covered, making it a worthy read for anyone interested in mechanical trading.

The authors bring precious bits of wisdom with their experience. Though systems are mechanical in design, the mental toughness required to achieve success is important, and much can be learned from the experienced. Make no mistake, this book is not about easy money, but about the reality of achieving success. As the authors put it:

"There is a giant chasm between knowledge and a successful trader. Few of us are able to make the leap, and those that do must be on the alert or they will fall back into the abyss."

20 of 22 people found the following review helpful:

5.0 out of 5 stars It is the ultimate - but not for everyone., June 30, 2002

By	Oavde "oavde" (Australia) - See all my reviews

12 out of 10. But not for everyone. The book is designed to help ~you~ develop a trading system, it does not hand one out to you on a platter. Actually it does serve up many, many, many different systems, tests them, explains them in extreme detail to the point that you could computerise them (if you have that skill) however you won't find any of them work wonders.

If however you are very skilled you will get a lot of inspiration from this book. For example, if you are already very advanced, and have developed your own systems either in your head or on computer.

If you are a beginner / novice you might be completely overwhelmed.

Read the other reader reviews and you'll see generally those who are experienced loved it, those new to trading wanting easy answers hated it / disappointed.

It is one of the few books I am reluctant to promote because I don't want the secrets in it to get out - ha! oh well hopefully most people won't get it.