Quantitative Technical Analysis: An integrated approach to trading system development and trading management 1st Edition

by Dr Howard B Bandy (Author)

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Editorial Reviews

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I have 4 of Howard's books on my bookshelf, 'Quantitative Technical Analysis' being the latest addition. This book is rich with instruction, and where Howard's does things differently than I do, his concise explanations and logical descriptions always challenge my thinking. For example, in the book Howard discusses Cross Validation, something I have never attempted, but will now. And that is just one example, as Howard covers a lot of ground in this book. Thank you Howard, for once again significantly adding to the body of trading system knowledge. - Kevin Davey, full time trader, author "Building Winning Algorithmic Trading Systems"

Product details

Publisher ‏ : ‎ Blue Owl Press, Incorporated; 1st edition (January 24, 2015)
Language ‏ : ‎ English
Paperback ‏ : ‎ 448 pages
ISBN-10 ‏ : ‎ 0979183855
ISBN-13 ‏ : ‎ 978-0979183850
Item Weight ‏ : ‎ 1.8 pounds
Dimensions ‏ : ‎ 7 x 1.01 x 10 inches

Best Sellers Rank: #868,373 in Books (See Top 100 in Books)
- #1,215 in Investment Analysis & Strategy
- #1,655 in AI & Machine Learning
- #10,914 in Business & Finance

Customer Reviews:
40 ratings

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Howard B. Bandy

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B. Rimes

What you need to know to develop trading systems ...

Reviewed in the United States on April 1, 2019

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I own two of Dr. Bandy’s earlier books – Mean Reversion Trading Systems and Quantitative Trading Systems and they just keep getting better. QTA is a bit larger and he covers trading system development from beginning to end. There is a step by step explanation of what to do from having an initial concept/idea right through to going live. But there is no sugar coating here as evidenced by a section like “Why This is So Hard”. I’ve read a lot of trading book and authors will usually provide simple systems with short, inadequate tests that usually prove worthless. Dr. Bandy provides systems, including source code, and walk-forward test results that are not curve fitted to the data and span both bull and bear markets. There is substantial discussion about how to evaluate tests and compare one test to another. Risk is another topic covered in detail and he’s not afraid to warn of black swan events. What I like most about the material is the teaching, the explanations and learning the “how” and “why” of the necessary steps in developing trading systems.

2 people found this helpful

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wizard_chef

Great book for traders (not longer term investors), but could have been better

Reviewed in the United States on November 10, 2015

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I am a long time investor in stocks, ETFs, and mutual funds but fairly new to trading. I have an extensive background in programming and mathematics and have written a number of investment simulators, including back testing. With that background I found this book extremely useful but lacking in some aspects. I liked the way Dr. Bandy used draw downs as his primary risk metric and the way he crafted a distribution function to do position sizing. He spends time discussing machine learning in the book, which consist of rather well known methods of estimation and prediction from the statistics world. He does discuss a single issue trading system at the end that ties together many of the ideas discussed in the book. On the one hand he offers concrete computer code to illustrate many of his points, but that is also a weakness of the book (see below).

Here is where I had problems. I could not get a sense of where he was going from beginning to end, and how one chapter might fit into the final goal, a trading system. It would be nice to have had an opening overview of how the book was laid out. Instead, he jumps right in with definitions of terminology and the philosophy of trading. Was some method in a chapter a stand-alone technique to illustrate or test some point he was making, or was it to be a building block for the final trading system? It took several reading to find the thread in the book.

I thought he spent too much time on the machine learning codes. The reader would be better served to have an overview of each with the weaknesses and strengths, and then references to a more complete text on the methods.

The presentation of lots of code in the book was a gift and a curse. Pseudo code and more outright equations would have been the preferred language to communicate his ideas, not computer code. The code should have gone into an extensive appendix or even offered on line and not in the book. Beware. If you want to understand the book fully, be prepared to learn at least some Panda and have an Amibroker account, as all of the code in the book is in these two languages. This was a negative for me, as I prefer other languages and did not care to learn a new couple of languages in order to get the technical analysis ideas in the book. He often uses narrative explanations when I felt equations or pseudocode would have been clearer.

My final frustration was in trying to understand how one might adopt these methods to portfolio management. I discovered a paragraph in one of his chapters where he shares a dim view on portfolio management, and makes a strong case that holding any issue longer than 10 days or so is fraught with too much risk. So, if you are coming at this book as anything but a short-term trader, you may find yourself frustrated or disappointed.

There is much important meat in this book to sink one’s teeth into. It will take patience and you will need adapt to Dr. Bandy’s crisp style and his cadence.I am on my third reading and still getting new insights. It’s a good book, but it could have been better.

9 people found this helpful

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Peter K. Kasper

The Best of Bandy

Reviewed in the United States on June 20, 2015

Verified Purchase

My personal library of stock market trading books has easily over 100 titles. This one is best of all. Although the book has only been available for a few months my copy is already well worn and filled with inked margin notes. One way of looking at the contents is that it is a compilation of novel ideas on a wide variety of technical issues associated with stock market trading systems. Aspects covered include risk tolerance, market data, programming environments, selection of trading symbols, development and management of trading systems. As a special bonus the book and author web site lists extensive computer code which illustrate the concepts presented. The included code has both Amibroker and Python versions. The later chapters of the book introduce concepts in which machine learning can be applied to develop a trading system.

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bhiker

Another excellent book on trading by Dr. Bandy.

Reviewed in the United States on February 5, 2015

Verified Purchase

I’ve read this book and find it extremely good. I have about 25 years of successful trading experience trading for myself. In the early years it was long-term trend trading, then short-term trend trading, but more recently short-term reversion to the mean trading. I have read all of Dr. Bandy’s books. They are all excellent and if I were to recommend something to someone who wants to begin trading, I would recommend reading all of Bandy’s books in order and read nothing else. I say this as I look at my bookshelf with four shelves of trading and investing books (more in the garage). I could toss all of them, but keep Bandy’s. Although a retired engineer, I found the book a bit of a stretch in math and programming, but given the time and effort, I could get through it. Every one of Bandy’s books has in addition to the big learning experience, some glimmers of small unknown things (I thought unknown) which I have experienced in my trading. There are also little glimmers of things I did not know, of which I am grateful. If you are not a person with an engineering/science/math/programming background, this book will be a stretch. But most traders lose money; Bandy’s books could put you on the path to profitable trading. If trading were easy, everyone doing it would be rich. Trading is a zero sum game (actually due to commissions, slightly less than a zero sum game)…..for you to make money, you have to be smarter than the guy on the other side of your trades. This book has nothing about get-rich trading methods. Instead it is a rigorous mathematical examination of trading and developing trading methods. Buy it. It is worth the money!

12 people found this helpful

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Vinyasa

Interesting

Reviewed in the United States on September 1, 2016

Verified Purchase

I initially gave three stars, but changed it to four. The author has made a genuine effort to cover some practical aspects of technical trading. The book has some really good, practical, and implementable nuggets of advice. I bought two more books from the same author. I come from an asset management/buy side) of the industry and books gives a fresh and alternative perspective of financial markets. The techniques espoused are applicable to any liquid financial instrument.

One person found this helpful

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Tee Eff

The Title of this book is entirely misleading; I'll ...

Reviewed in the United Kingdom on February 3, 2016

Verified Purchase

The Title of this book is entirely misleading; I'll stop shy of saying it is a downright fraudulent. The book is a badly-compiled set of Python libraries. That's all. The most expensive piece of rubbish I have had to buy in a while. I won't be recommending this to anyone.

One person found this helpful

Hartono

Eccellente

Reviewed in Italy on October 18, 2015

Verified Purchase

Questo è il libro migliore di Bandy. Molto esauriente, copre anche temi classici, come per esempio il money management, ma con una profondità inusuale. Inoltre l'accento è posto soprattutto sul machine learning, realizzato tramite Python. Quel che apprezzo di più di Bandy è l'approccio pragmatico. Molto valide anche alcune considerazioni che vanno a sfatare alcuni miti erroneamente consolidati, come avere una posizione short è più rischioso che averla long, oppure che conviene sempre fare il walk forward utilizzando il maggior numero possibile di dati, la validazione in genere dimostra il contrario. Certamente consigliato.

3 people found this helpful

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nick_rev_1

Great book

Reviewed in the United Kingdom on July 30, 2015

Verified Purchase

Superb book, buy it

Gonac

Magnífic

Reviewed in Spain on November 15, 2016

Verified Purchase

Excel·lent llibre de trading sistemàtic-automàtic, complet i de nivell, però el llenguatge de referència es l'AFL de AmiBroker que es el programa amb més possibillitats

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Quantitative Technical Analysis: An integrated approach to trading system development and trading management 1st Edition

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Howard B. Bandy

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