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DeMark Indicators (Bloomberg Market Essentials: Technical Analysis) Hardcover – October 1, 2008
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“Having observed his market calls real time over the years, I can say that Jason Perl’s application of the DeMark indicators distinguishes his work from industry peers when it comes to market timing. This book demonstrates how traders can benefit from his insight, using the studies to identify the exhaustion of established trends or the onset of new ones. Whether you’re fundamentally or technically inclined, Perl’s DeMark Indicators is an invaluable trading resource.”--Leon G. Cooperman, chairman, Omega Advisors
“Tom DeMark, the man whose work inspired this book, is a unique, interesting, and ofttimes iconoclastic technical analyst. Simply put, he thinks about the markets differently from the way you or I do. So why should you read this book? Because, having read it, you will almost certainly think about the markets and technical analysis differently.”--John Bollinger, CFA, CMT, www.BollingerBands.com
“Jason Perl has taken the playbook from the market’s John Wooden, Tom DeMark, and translated it engagingly in a format that traders of all levels will appreciate. As one who has used these indicators for more than twenty years, I too am appreciative of Jason’s clarity.”--Peter Borish, Chairman and CEO, Computer Trading Corporation
—Leon G. Cooperman
Chairman, Omega Advisors
“Tom DeMark, the man whose work inspired this book, is a unique, interesting, and ofttimes iconoclastic technical analyst. Simply put, he thinks about the markets differently from the way you or I do. So why should you read this book? Because, having read it, you will almost certainly think about the markets and technical analysis differently.”
—John Bollinger, CFA, CMT
“Jason Perl is the trader's technician. DeMark Indicators are a difficult subject matter, but Jason shows simply how the theory can be applied practically to markets. Whether you're day-trading or taking medium-term positions, using the applications can only be of increased value.”
—David Kyte, Founder
Kyte Group Limited
“Jason Perl has taken the playbook from the market’s John Wooden, Tom DeMark, and translated it engagingly in a format that traders of all levels will appreciate. As one who has used these indicators for more than twenty years, I too am appreciative of Jason’s clarity.”
Chairman and CEO, Computer Trading Corporation
“Jason Perl has created a trading primer that will help both the professional and the layman interpret the DeMark Indicators, which I believe represent the most robust and powerful methods to track securities and establish timely investment positions. Think of DeMark Indicators as the Rosetta stone of market-timing technology.”
Founder and CIO, Passport Capital
Top Customer Reviews
So does this book contain anything useful for the rest of us? Yes, if you want to program the indicators yourself in whatever system you are using. Just don't expect total clarity because the author is not going to give away the straight formulas for proprietary indicators. However, with some creativity and the information in the book, I'm sure they can be reconstructed. Anyway, the book is much clearer than DeMark's own books.
And for the rest of us that are not programmers? No. This book is not for us.
However, I would assume these indicators will be available for all systems in a couple of years. Until the I give the book only two stars.
I have written several short reviews on trading books. The best way is to compare the score on the books I've read. Many reviews on amazon.com are just glorious 5 star reviews. I use all five categories; sorry but everything isn't "great". Books rated 5 are very good. Books rated 4 are good solid books well worth reading. Books rated 3 can be bought by some people who read a lot or have very specific needs. Books rated 1 or 2 I would not recommend buying or reading. Naturally all in my humble opinion.
He breaks down each indicator in a top down pseudo code step by step format that makes understanding and code translation a breeze. There are also numerous Q & A's that I found extremely insighful.
Sure, there are testimonies on the web (and by the author) that this stuff works. However, I am from Missouri (metaphorically speaking), and my credulity level is low. So I back-tested the stuff that could be tested: not the 9's and the 13's, which come with so many qualifiers and caveats, that you'd need Deep Blue to test them. Rather, I tested the short term indicators (differentials), the Waldo patterns, and whatever oscillators could be tested on an Excel spreadsheet. (More about these soon).
What can I say? Some worked sometimes, others not at all, some worked on the long side, not on the short, others on the short but not on the long. I tried testing the patterns on several stocks, ETF's, even a few indices. The only thing I can say is, you'd need a book full of exceptions and qualifiers to use these Waldos and Differentials and what not, to know which works when.
Now, If I were mercenary, I'd urge you to use them (like Buffett says about suckers using Modern Portfolio Theory), so I could take your money by using whatever does work for me (i.e.: fundamentals, plus technical stuff that has been tested and that I have been able to make money on.) In that regard, the contents of the book are like homeopathic medicine. There are enthusiastic, nearly religious claims that it works, but there are no double blind tests. When you do do tests on homeopathic medicine, they show either no effect, or effect so weak, that aspirin would be better. Same here.Read more ›
If you want to use the book for programming purposes be prepared to do a great deal of digging in other books and articles in order to extract the formulas for some of the indicators. The bottom line unfortunately is that "DeMark Indicators" is not a one-stop source for DeMark's indicator formulas.
For instance, the simplest indicator in the book states that for a TD Price Flip to occur in an upward trend, the close of the current bar must be lower than the close four bars earlier. (As seen on page 2 of the sample pages.) To put this into an equation is simple:
if (bar[close] <= bar[close]) TDBearPriceFlip = True;
This book exhaustively details various entry strategies, while only providing suggestions for exit strategies; however, if you consider the aggressiveness of the indicator and apply it proportionally to your exit strategy, it is fairly simple to determine stop-loss and limit levels. Additionally, if you are able to combine all of the indicators listed in the book, you should be able to formulate a fairly solid trading strategy.
I will post another review in several weeks listing various trading results using these indicators.
Most Recent Customer Reviews
I read this book and try to use this system in thailand stock market. However, this kind of system propely use un the stability market. Never ever use in speculatory market.Published on September 22, 2013 by Parinya Soponpongpipat
The author captures the spirit of DeMark so this book is recommended but it is requires work to read the detailPublished on July 17, 2013 by coutaspray
This book provides an easy-to-follow system for using the indicators to identify market turns as they happen. I like the introduction to thirty-nine of the indicators.Published on May 27, 2013 by Karl van Uden
The book does very little in the way of removing the ambiguity surrounding the DeMark indicators. I'll give an example using the Sequential indicator. Read morePublished on February 11, 2013 by Peter Ghostine
The book is a handholding kind of book for amateur trades who rely totally on DeMark's indicators and want to learn more. Strongly recommend not buying this book.Published on January 17, 2013 by Varun
Didn't read this book, but the basis behind the DeMark TD Sequential looks like a dumbed down RSI with some very arbitrary time periods.Published on October 29, 2012 by fractz
good outline of how to implement demark in more or less bulleted form.
would recommend to get an understanding of demark.