Binding: Kindle Edition
Dewey Decimal Number: 332.632042
Format: Kindle Book
Label: Wiley
Manufacturer: Wiley
Number Of Items: 1
Number Of Pages: 217
Publication Date: December 03, 2004
Publisher: Wiley
Sales Rank: 15041
Studio: Wiley

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Editorial Review:

Product Description:
A wide variety of flexible trading systems that combine sophisticated technical analysis with trading psychology theory
Mechanical Trading Systems examines the development process for choosing and using mechanical trading systems in conjunction with trader psychology. This book discusses the advantages and disadvantages of mechanical trading systems; the dangers in system development and how to avoid them; the optimal methods for back-testing trading systems; position sizing and other risk quantification tools; and methods of improving rates of return on investments without significantly increasing risk. Most importantly, through a detailed examination of various types of unsuccessful trader personality traits (e.g., fearfulness, greed, and impatience), the book recommends different types of trading systems for a diverse array of trader types.
Richard L. Weissman (Port Richey, FL) has seventeen years' experience as a trader and developer of trading systems. He currently provides independent consultation an d training services to traders and risk management professionals in the areas of technical analysis, risk management, and trader psychology.




Rating: - Good for the head and the heart
I didn't grasp many of the technicalities pertaining to system trading (I don't trade or aspire to trade mechanical systems) but it is a wealth of generalized trading knowledge nonetheless. It is an inspiring book and a great confidence builder for me, confirming that I am on the right track regarding discipline and psychology and that, with persistence, success will come.

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Rating: - Psychology + Methods = a winning combination!
The book is written in a clear, direct language - the author speaks to you, not at you. While leafing through a pile of trading books, I was stopped it in my tracks when I opened this volume. I got out my yellow highlighter and read attentively from cover to cover, taking notes. The author's unique approach was to combine traders' psychology with different types of trading; this book showed me something new about myself and other traders.

Weissman begins by explaining why "...natural ... Read More

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Rating: - Concise
This is a well written concise book. Of course if you are looking for the 'holy grail' of trading you won't find it here...

That is for you to find and that idea pretty much sums up the true intention of this book.

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Rating: - Some interesting, well researched and concluded ideas
This book has some interesting, well researched and concluded ideas on trader psychology which make this title worth the spend. The mechanical trading system aspects though are not brought together well and in fact it is difficult to grasp what the author is saying at times.Perhaps in a future revision the author will join the dots a little for the common man?

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Rating: - Teaching you how to BUILD systems - Refreshing!
If you are looking for a get rich quick scheme where you get ready made systems that will turn your measly $2K into $500K in a year, keep searching.
How refreshing that this author has avoided the temptation to sell tons of books by promising that mechanical trading systems presented in a book will accomplish this ridiculous claim!
Instead this book teaches you how to build mechanical trading systems. Not only does it provide readers with tools that are applicable to all systems (trending, ... Read More

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