New Concepts in Technical Trading Systems

A Truly Great Work R.C.P. I usually say J.W.W. is the father of mechanical trading or at least the guy that brought up the concept of it with this primordial work. This late 70's work is undoubtedly the mark zero for many systems used nowadays and the cornerstone for a group of specific class of "indicators" to say the least. I came across this work for the first time many years ago in a private library of a brokerage house I used to work, I studied thoroughly back in the day but I couldn't take it home with me so I decided that someday I would buy this book even though I've had read it already many times. Then many years later I . James Kowalick said Superb Classic Book on Trading Systems. This classic trading-systems book is superb and unique - it is for those who know, or want to know, the important details of trading systems (admittedly, few traders have the goal of developing a deeper understanding of the important, win-based details of trading systems). Wilder wrote his book in pre-computer days, when the chief way of keeping track of one's investments was `pad and pencil' calculations.His book is full of innovative and highly creative trading concepts for use in trading systems. In Wilder's time, just like today, several `conventional' trading systems were/are available. Wilder added . The Birth of RSI & ADX I am rating this book 5 stars because when it was first published it changed technical analysis forever. J. Wells Wilder did for traders what Bill James did for baseball. Wilder gave traders a quantitative edge through research and the invention of new technical indicators that measured price movement and added a new dimension to price charts. One of the many indicators he came up with was the Relative Strength Index or RSI which is one of the most power tools I use to measure overbought and oversold levels in indexes and sectors on the daily chart. While today we can pull up almost any charting package a

Be a top trader after reading this classic and efficient book.