For more than twenty-five years, traders have turned to Kaufman's classic Trading Systems and Methods for complete information about the latest, most successful indicators, programs, algorithms, and systems. You need strategies that are different from those of other traders.
Since no trader can be successful without controlling risk, this edition also includes expanded coverage of portfolio allocation, which will allow you to efficiently balance trading exposure. Examples include a wide range of futures and stocks. Now, in New Trading Systems and Methods, Fourth Edition, Kaufman thoroughly updates his bestselling guide—adding more systems, more methods, and an extensive array of risk analysis techniques—and shows you the best ways to trade today's futures and equities markets. Instead, it tries to evaluate the conditions under which certain methods are likely to do better and the situations that will be harmful to specific approaches.
The systematic approach to charting has been significantly expanded in this edition, showing how various patterns can be compared to other systematic methods, or how techniques such as identifying support and resistance, or channels, can be computerized. The companion CD-ROM, which contains TradeStation® code and Excel spreadsheets, has been added to help you electronically implement the systems and methods mentioned throughout the book.
Other chapters are organized by common grouping so that you can compare the different ways that similar problems have been solved. By grouping similar systems and techniques together, you'll be able to personally compare the differences and study the results. As the competition for trading profits gets keener, you need to look for more innovative—and sometimes more extensive—solutions.
New Trading Systems and Methods, Fourth Edition doesn't attempt to prove that one system is better than another, because it's impossible to know what will happen in the future or how you will cleverly apply these techniques. It begins with a discussion of basic concepts, including definitions, how much data to use, how to create an index, some statistics and probability, and other tools that will be used throughout the book, then moves on to techniques that are most important to trading—identifying the trend and momentum. Seeing how analysts have modified existing ideas can help you decide how to proceed and give you an understanding of why you might choose one path over another.
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