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The Ultimate Trading Guide [Hardcover]

John R. Hill (Author), George Pruitt (Author), Lundy Hill (Author)
3.9 out of 5 stars  See all reviews (20 customer reviews)

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Book Description

January 15, 2000 0471381357 978-0471381358 1
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

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Editorial Reviews

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.

From the Back Cover

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

Product Details

  • Hardcover: 320 pages
  • Publisher: Wiley; 1 edition (January 15, 2000)
  • Language: English
  • ISBN-10: 0471381357
  • ISBN-13: 978-0471381358
  • Product Dimensions: 9.2 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 (20 customer reviews)
  • Amazon Best Sellers Rank: #689,859 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews
19 of 19 people found the following review helpful
Format:Hardcover
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.

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21 of 22 people found the following review helpful
Format:Hardcover
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."

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22 of 24 people found the following review helpful
By Oavde
Format:Hardcover
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.

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Most Recent Customer Reviews
Good ideas marred by bad writing and sloppy editing
Since this book is written by someone who has reviewed hundreds (if not thousands) of trading systems, this book contains a lot of good, solid ideas about developing and trading... Read more
Published 11 months ago by Michael E. Strupp
Interesting Read but Dated
If someone can provide some recent backtests of the systems (I'm especially interested in the S&P Daytrade system) that would prove if this book is in-fact the ultimate trading... Read more
Published 15 months ago by Dimitrios Banias
Book with plethora of unique patterns and set-ups
This important book offers unique price pattern recognition and set-ups not found in trading books by any other authors. Read more
Published on October 23, 2007 by Keith J. Chung
Actually Pretty Good
I would normally give this only 4 stars but people have been giving Mike Covells poor book on trend following 5 stars (I would give it 1) so Hill gets 5. Read more
Published on May 18, 2004 by kiwi_trader
Ultimate Rip-off
This is my first Amazon review, I just couldn't believe any reputable publisher or reviewer would embrace such a horrible book! Read more
Published on February 8, 2004 by Howdy
Full of trading ideas
This book gets straight to the point and works almost as an encyclopedia of trading methods, theories and systems. Read more
Published on May 21, 2003
Good, But Far From "Ultimate"
Don't let the title fool you -- this book is not an ultimate compendium in any way. You won't find anything on candlestick charting nor anything on volume-based indicators. Read more
Published on August 18, 2001 by James121W39N
excellent book... period!
I have been trading for 15 years (full time) and I have my own trading system which I have developed. I find this book to be one of the best books ever written on the subject.
Published on May 2, 2001 by George Finchelly,PhD,economics
The Ultimate Trading Guide: A must.
I have read The Ultimate Trading Guide by John Hill, George Pruitt and Lundy Hill with much pleasure. It is one of the best books I have read on the subject. Read more
Published on March 21, 2001 by J. Th Van Peet
A Realistic Look At Trading
I found the book most helpful for my particular style of trading and give it the highest rating. The particular aspects that were of benefit to my trading are:

1. Read more

Published on November 1, 2000
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Inside This Book (learn more)
First Sentence:
This chapter covers the set-ups for profitable trading-looking at the big picture to determine where the market is in its overall development. Read the first page
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
open range breakout, range breakout system, opening range breakout, lower time frame, average actual range, prior pivot point, pivot point low, sound market principles, narrow range bar, one contract basis, higher time frame, capital allocation model, buy zone, sell zone, buying climax, average true range, wide range bar, average drawdown, equity curve, overcoming demand, money management stop, protective stop, reversal bar, max drawdown, reversal stop
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Japanese Yen, Swiss Franc, Deutsche Mark, Omega Research, Summary Performance Net Profit, Treasury Note, Heating Oil, Live Cattle, Muni Bonds, Drummond Geometry, Individual Market Total, Royal Dutch, Max Individual Total Avg, Win Gain, Trds Win, Dow Jones, Jun Jul, Total Net, Average Loss, Best Trade, Days Per Trade, Long Net, Most Cons, Percent Winners, Soybean Meal
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