New Trading Systems and Methods (Wiley Trading) (Hardcover)

~ (Author) "Let's start by redefining the term "technical analysis..." (more)
Key Phrases: new trading systems, moving skewness, moving average calculation period, New York, Technical Analysis of Stocks, Behavioral Techniques (more...)

Editorial Reviews

Review

". . . the best book on technical trading strategies and techniques currently available. . . A must read." (The Technical Analyst, March/April 2006)

"... it's packed with a ton of useful information on programs, spreadsheets, algorithms and other tools. It even comes with a CD-ROM that's pulsing with more hot, sexy info covering just about every trading trick under the sun." (Trader Monthly magazine, June/July 2005)

"At $125, the book is not cheap, but no trader should be without it." (Managed Account Reports (MAR), April 2005)

Product Description

Get the bestselling guide to trading systems, now updated for the 21st century.

For more than two decades, futures traders have turned to the classic Trading Systems and Methods for complete information about the latest, most successful indicators, programs, algorithms, and systems. Perry Kaufman, a leading futures expert highly respected for his years of experience in research and trading, has thoroughly updated this bestselling guide, adding more systems, more methods, and extensive risk analysis to keep this the most comprehensive and instructional book on trading systems today. His detailed, hands-on manual offers a complete analysis, using a systematic approach with in-depth explanations of each technique. This edition also includes a CD-ROM that contains the TradeStation EasyLanguage program, Excel spreadsheets, and Fortran programs that appear in the book.

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Product Details

• Hardcover: 1200 pages
• Publisher: Wiley; 4 edition (February 28, 2005)
• Language: English
• ISBN-10: 047126847X
• ISBN-13: 978-0471268475
• Product Dimensions: 10.1 x 7.3 x 2 inches
• Shipping Weight: 4.5 pounds (View shipping rates and policies)
• Average Customer Review: 3.9 out of 5 stars  See all reviews (17 customer reviews)
• Amazon.com Sales Rank: #18,965 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

45 of 46 people found the following review helpful:

5.0 out of 5 stars Technical Details for the Technical Analyst, April 13, 2006

By	Ray Burkholder (Bermuda) - See all my reviews (REAL NAME)

Many people refer to the Achelis book for simple, straight-forward descriptions of technical analysis tools. I too have it on my primary bookshelf. However, lately, more often than not, I find myself reaching for Kaufman's book to get good background on the various ways of technically analysing trading options. He has chapters devoted to practically every indicator type you may encounter: chart reading, events, regressions, trending, momentum, oscillators, seasonality, cycles, patterns, multiple time frames, and advanced techniques. He then goes into some details regarding system testing, practical considerations, risk control, and diversification. As a wrap up, he provides some end-notes for the mathematically inclined.

There appear to be traders who will sit at their screen all day and watch patterns. I think many who wrote many of the recent reviews may fall into this category, and didnt' rank the book very highly. On the other hand, there are other traders who may wish to design Automated Trading Scenarios and need some math to flesh out their trading strategies. It is for these types of traders to whom this book is devoted. I think you'll find a wealth of ideas you can mix and match to make a trading strategy uniquely your own.

However, technical anlysis and automated trading strategy design takes much work and energy. A good chunk of statistics is practically mandatory (which the book doesn't delve into). This book fulfills only a portion of the overall knowledge someone will need build a winning trading strategy.

I'll give it two thumbs up as it provides excellent details on the spectrum of technical analysis and provides references for the times you wish to flesh out the details.

35 of 37 people found the following review helpful:

5.0 out of 5 stars What more could you ask for in a book???, October 1, 2006

By	Rob Ryley "Robert" (Northeast NJ) - See all my reviews

Trading is serious business, although you wouldn't think so, considering the way many people approach it.

The fundamental truth about all types of markets is that the minority gets the money, and keeps it. Of course, there will be times where the market trends strongly in one direction (usually up), and the masses confuse a bull market for brains. But those who are serious about earning profits, and keeping them, need to develop a method or philosophy to separate their thoughts and actions to act independently from the crowd.

If there were college level courses in financial speculation, Kauffman's book would be the required text. All sorts of twists on trend following, counter trend strategies, technical indicators, statistical methods, as well as various charting techniques, are all described. I should also add, the book comes with a CD that enables you to test various methods described in the book using Excel spreadsheets. The spreadsheets are already set up, you just need to input the data.

Some reviewers say that all of the methods are "bad." I'd disagree. This book is a valuable reference, and when you understand the logic of what has come before, you can adapt it to current market conditions. There are a surprisingly large, but finite, number of ways to slice and dice market data. But there are an infinite number of ways to combine a few them into a robust trading system.

22 of 22 people found the following review helpful:

5.0 out of 5 stars Excellent material in 4th edition, May 12, 2007

By	Laszlo Walko "System_trader" (in_front_of_my_computer) - See all my reviews (REAL NAME)

Similar to many traders who own Perry Kaufman's 3rd edition of New Trading Systems and Methods, I ignored the publication of the 4th edition. Well, such oversight was my loss. Even a quick perusal of the work reveals a wealth of new ideas, techniques, and concepts. Kaufman offers ample inspiration for exploring trading problems in a new light.

Kaufman's encyclopedic coverage is unique. The 3rd edition contains 700 plus dense, fast paced material. The current edition adds another 500 pages of new and revised material. Each topic is examined with care; Kaufman has an ability to focus on the key concepts and omit the fluff. His presentation assumes a sophisticated, intelligent reader with solid software development, testing, and trading skills. Sloppy readers, clumsy testers, undisciplined `traders' will complain that this is not a `trading war stories book'--such complaints are correct; this is a trading SYSTEMS and METHODS handbook.

The book binding has a problem. At 1,200 pages, the adhesive binding is falling apart. This book requires either sewn through or over-sewn type binding. Shame on John Wiley for such embarrassing production quality!