Mechanical Trading Systems: Pairing Trader Psychology with Technical Analysis (Wiley Trading)

Book 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.

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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.

Customer Reviews:

Good for the head and the heart.......2007-03-13

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.

Psychology + Methods = a winning combination!.......2007-02-06

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 and comfortable trading, using entry levels as reference points, ensures small profits and large losses. We need to reprogram ourselves to be comfortable with the unknowable and uncertain future. It helps to remind ourselves that the entry level is significant to us alone and that the sense of discomfort we feel as the market moves into previously unknown territory is entirely subjective and illusory."

Weissman outlines the three basic trader personality types: trend-following, mean-reversion [counter-trend], and day-trading. You need to be comfortable with yourself to trade well. You need the right system for your trading personality - and the author offers a rich menu for every type of trader. The author's practical, shrewd observations hold up a psychological mirror for traders. He points out that with trend-trading, just a few trades account for the bulk of profits, which means you cannot take time off from mechanical trend trading. Mean-reversion traders capitalize on temporarily unsustainable levels of euphoria or panic; they need an especially strong discipline not to overstay positions. Day-trading is labor-intensive, demands quick-mindedness and frequent vacations to avoid burnout.

The author shows how to test trend-following and mean-reversion (counter-trend) systems, as well as day-trading systems. He deals in depth with the benefits and pitfalls of system development and price risk management.

"Successful trading entails fighting natural inclinations toward comfort, security, impatience, perfection, fear, and greed. We can never control the markets, only how much risk we will assume in them." Weissman stresses the importance of keeping a trading journal. He confirms something that very few people appreciate - that at a very high end systematic and discretionary trading have a great deal in common.

Weissman's gentle but persistent insistence on both knowing yourself and stepping out of your comfort zone can have unusual results. In my case, it led me to develop a semi-mechanical system for day-trading e-minis!

Concise.......2006-02-22

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.

Some interesting, well researched and concluded ideas.......2005-04-15

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?

Teaching you how to BUILD systems - Refreshing!.......2005-03-10

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, mean reverting, etc.,), but it also shows you how to build these systems according to your individual trading personality.
Finally it avoids the typical trader "war stories". Instead of colorful, useless stories of the crash in 1987, this book actually sticks to the point... teaching you how to develop systems that fit your personality.

Customer Reviews:

This book has given me financial freedom.......2007-09-07

I was in a big mess. Without going into details - I owed almost $95,000, my yearly income is $45,000 before tax, and I am supporting a family of 3. I live in New York. My apartment rent alone is $1,100. Owed amount was getting bigger and bigger because of the interest. Obviously, I wasn't eligible any kind of loan.

No money to hire an expert. I didn't have money to buy many different books. Luckily the one I picked was the right book. Now, I had the will and I had the right book. I owe only $7,000 now. My total credit limit from different credit cards is now $175,000. My bank is willing to give me loan. Didn't happen overnight or it didn't happen without any work on my part -- but it did work out with the help of this book.

Thank you, Mr. Kelly.

A good book to help YOU get started.......2007-07-12

This book is very helpful. To the reviewers who said there were a bunch of useless forms in the book....yeah if you don't use them. I mean he tells you what to do, gives you a form to go by all you have to do is work towards your goal...getting that credit score up. What do we expect our credit scores to go up just by purchasing/reading the book? You have to do something.

pretty good - I rate it a solid 3.5.......2006-07-09

Pros - easy to read and concise; good tips on how to establish and re-establish credit; good job explaining the credit reporting process and the importance of credit and the three types of lenders (prime, subprime, and secondary).

Cons - does not include info about credit scoring; steps for fixing credit are too cumbersome for the average consumer to follow; tips for how to strengthen credit are ineffective, outdated, misleading - such as having account added to your credit record - the agencies don't do that anymore. incorrect data about the length of time chapter 13 bankruptcies stay on credit reports; sample letters are too vague.

The book could have been more detailed to help readers fully grasp credit. It's a good introdution to credit that wiill leave you seeking more information. recommendation - The Insider's Guide to credit Repair by K.E. Varner and Your Credit Score by Liz Weston.

Sucked........2006-01-09

I'm giving this two stars, because it's better then nothing, but it's just a giant listing of form letters and a boring algorithm to follow. I suppose it might actually work, but it doesn't give you an insight or knowledge you can use to work the system like the Gorilla Guide does. I ordered the two books at once figuring I'd read both, and this one flat out sucked.

Solid info. Easy to read.......2005-08-02

This book is great if you want to challenge inaccurate or "old" credit files reported by the big three agencies. The book provides a plethera of letters & follow-up letters to challenge the false reports. In addition, it offers up ways to negotiate payment plans w/your creditors.

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The Complete Guide to Credit Repair
Unknown
Manufacturer: Mid - American Opportunity Research Enterprises
ProductGroup: Book
Binding: Paperback
ASIN: B000K3L40C

The Complete Guide to Credit Repair for the Homebuyer

Average customer rating:

WARNING: Here's Another Credit Repair Rip-Off

The Complete Guide to Credit Repair for the Homebuyer

Manufacturer: Mortgage Originator
ProductGroup: Book
Binding: Paperback

Credit Ratings & Repair | Personal Finance | Business & Investing | Subjects | Books

Consumer Law | Business | Law | Subjects | Books

Book Description

This instructional tool provides step-by-step credit repair guidance for the potential home purchaser. The homeowner-to-be is advised not only how and where to locate his/her credit report, but also how to remove any blemishes from the report, whether they are the result of poor credit performance or due to credit reporting inaccuracies. The reader will also learn how mortgage lenders formulate their credit scoring systems to determine whether a prospect is creditworthy, and what his/her legal rights are under such scoring systems. A copy of the Fair Credit Reporting Act (FCRA) is included for the reader to review and use as a reference. The FCRA was designed to protect consumers against inaccurate and unfair descriptions of their credit history. Sample letters to credit bureaus and creditors are included also on a 3.5 floppy diskette for the reader to use as he/she follows the steps.

Customer Reviews:

WARNING: Here's Another Credit Repair Rip-Off.......2000-05-11

"The Complete Guide to Credit Repair" would more accurately be titled: "A Complete Waste of Money."

Of its 128 pages, only the first 14 pages of the book attempt to offer any advice (and very basic advice, at that). The remainder of the book is comprised of the bare text of the Fair Credit Reporting Act (68 pages), a glossary of common real estate terms (14 pages), and three sets of sample dispute letters that are also contained on the enclosed diskette.

For some reason (presumably to waste paper), the authors felt compelled to produce a different set of dispute letters for each of the three major credit bureaus, even though the ONLY difference among these sets is the name and address of the recipient. And, although the authors advise the reader to send those letters via registered mail, return receipt requested, two sets of letters are addressed to post office boxes, where nobody can sign for the letters! (Incredibly, the third set of letters doesn't show ANY address; instead, the address lines are "X"ed out!)

Mortgage Originator Magazine, which publishes the book, ought to know something about the impact of negative credit on a borrower's eligiblity for mortgage financing. While the book offers some insight into the mechanics of conventional loans, however, the authors say NOTHING about the less stringent credit requirements available with federally-insured mortgage loans, an appalling omission!

Moreover, the authors are completely silent about other credit repair options available outside of the provisions of the Fair Credit Reporting Act. Nothing is said about any of the other federal consumer protection laws (e.g., the Fair Debt Collection Practices Act, the Truth-in-Lending Act, or the Fair Credit Billing Act). Nor do the authors offer any advice for negotiating with creditors or debt collectors.

While shamelessly purporting to be a "complete guide" offering "comprehensive solutions to credit problems," this book is just a brief introduction to credit repair supplemented by information that is readily available elsewhere. The reader would be better off saving $18.00 and buying "The Fix Your Credit Workbook" by Todd Bierman and David Masten, which provides far more comprehensive information and much sounder advice.

Book Description

This digital document is an article from Tooling & Production, published by Nelson Publishing on April 1, 1994. The length of the article is 675 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The just-in-time philosophy does not always generate real long-term savings for companies. This is because the additional costs incurred by vendors owing to more frequent deliveries will most likely be passed on to the first-tier supplier or its vendors. The cycle goes on, until it reaches the supplier at the bottom of the pyramid, who, in turn, increases prices to be able to absorb the extra costs. This then goes back to the top of the pyramid by way of a price increase in goods bought. Customers thus have to modify their approach by undertaking cost reduction within the company, and at the same time taking stock of the long-term effects of changes.

Citation Details
Title: Customer/vendor relationships: true sharing? (Manufacturing Memo)
Author: Itzik Kostika
Publication: Tooling & Production (Magazine/Journal)
Date: April 1, 1994
Publisher: Nelson Publishing
Volume: v60 Issue: n1 Page: p11(1)

Distributed by Thomson Gale

How just-in-time can backfire. (just-in-time inventory concept) (Manufacturing Memo): An article from: Tooling & Production

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How just-in-time can backfire. (just-in-time inventory concept) (Manufacturing Memo): An article from: Tooling & Production
Itzik Kostika
Manufacturer: Nelson Publishing
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

Management | Management & Leadership | Business & Investing | Subjects | Books

Book Description

This digital document is an article from Tooling & Production, published by Nelson Publishing on October 1, 1993. The length of the article is 790 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The just-in-time inventory concept cannot be applied to a complicated manufacturing flow system because any change may affect other areas. As inventory levels drop, the company's manufactured goods and the transport of goods to customers are adversely affected. Additional costs for overtime are incurred to meet the shortage, thus, eating up the cash accumulated by the reduced inventory program.

Citation Details
Title: How just-in-time can backfire. (just-in-time inventory concept) (Manufacturing Memo)
Author: Itzik Kostika
Publication: Tooling & Production (Magazine/Journal)
Date: October 1, 1993
Publisher: Nelson Publishing
Volume: v59 Issue: n7 Page: p9(1)

Distributed by Thomson Gale

Weapons of self destruction: if someone in the workplace has a large chip on their shoulder they will damage much more than just themselves. (Memo to Managers). : An article from: NZ Business

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Weapons of self destruction: if someone in the workplace has a large chip on their shoulder they will damage much more than just themselves. (Memo to Managers). : An article from: NZ Business
Sue Dwan
Manufacturer: Thomson Gale
ProductGroup: Book
Binding: Digital

Workplace | Organizational Behavior | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Management | Management & Leadership | Business & Investing | Subjects | Books

Book Description

This digital document is an article from NZ Business, published by Thomson Gale on April 1, 2003. The length of the article is 754 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Weapons of self destruction: if someone in the workplace has a large chip on their shoulder they will damage much more than just themselves. (Memo to Managers).
Author: Sue Dwan
Publication: NZ Business (Magazine/Journal)
Date: April 1, 2003
Publisher: Thomson Gale
Volume: 17 Issue: 3 Page: 46(1)

Distributed by Thomson Gale

Book Description

Information technology is revolutionizing the handling of biological information. The British Society for Plant Pathology (BSPP) has been at the forefront of several initiatives in handling information electronically, and the Systematics Association has a long-standing involvement in computer-based species identification. BSPP and the Systematics Association recognized the opportunity to join forces and develop a combined program for a conference on these themes, which was held in December 1996 at the University of Kent at Canterbury. This book presents forty edited and revised papers from that conference. The topics covered are wide-ranging and include biological databases, geographic information systems, probabilistic identification systems, and electronic teaching aids. Written by authors from Europe, North and Central America, China, India and New Zealand, the book provides an essential review for plant pathologists and taxonomists, as well as other biologists wishing to keep up with the information revolution.

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Psychoneuroimmunology 101.

Psychoneuroimmunology 101.

The Healing Mind: The Vital Links Between Brain and Behavior, Immunity and Disease
Paul Martin
Manufacturer: St. Martin's Griffin
ProductGroup: Book
Binding: Paperback

Neuropsychology | Psychology & Counseling | Health, Mind & Body | Subjects | Books
General | Psychology & Counseling | Health, Mind & Body | Subjects | Books
General | Health, Mind & Body | Subjects | Books
Immunology | Basic Science | Medicine | Subjects | Books
Immunology | Basic Sciences | Medical | Professional & Technical | Subjects | Books
Look Inside Health Books | Trip | Specialty Stores | Books
Look Inside Science Books | Trip | Specialty Stores | Books
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Your Body Is Talking; Are You Listening?: The Body/Mind Connection : Understanding the Theory of Psychoneuroimmunology in the Process of Healing (With Case Histories)

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ASIN: 0312243006

Amazon.com

Whoever said "Physician, heal thyself" seemed to know what he was talking about, if we are to believe the latest reports on the connection between health and consciousness. One such report, Dr. Paul Martin's The Healing Mind, is a lovely overview of the field that is neither too credulous nor too skeptical in its search for the truth. With a strongly humanistic style, quoting Shakespeare, Milton, and even Ian Fleming, Martin writes circles around most of his colleagues. Whether the topic is as heavy as cancer or as light as keeping pets, he grants the reader a deeper, more compassionate view than is usually seen in scientific writing. Of course, this is no mushy New Age tract, either; the book is well documented with a lengthy bibliography, and some of the facts may surprise you. (For example, those who get too much exercise are prone to respiratory problems.) Whether you're a doubter or a believer, The Healing Mind will give much food for thought, and respectfully challenge your point of view. --Rob Lightner

Book Description

In The Healing Mind, Dr. Paul Martin, a renowned professor behavioral biology, asserts that Wolfe's words are closer to the truth than we might imagine. Long the stuff of poetry and folklore, there is increasing scientific evidence that the brain and the immune system are inextricably linked. Dr. Martin illustrates with remarkable clarity that biological and psychological links that do indeed exist between mind and body--links that have in intricately constructed by evolution over the millennia, links that, when frayed or severed, are the root cause of more problems that you might imagine.Drawing together the latest biological and medical findings, The Healing Mind explains how we can at last reconcile many commonplace notions about "psychosomatic" illness and stress with a modern scientific understanding of how the mind and body affect each other. Martin makes impressive use of literary references to illustrate the degree to which we commonly (and accurately) observe the link between health and psyche. Here, presented in a fascinating and uniquely accessible manner, are the latest scientific solutions to some ancient puzzles concerning the relationship between brain, behavior, immunity, and disease.

Customer Reviews:

Psychoneuroimmunology 101........2002-06-02

I have just finished reading Dr. Martin's book and found it fascinating and very well-written. The principle argument or theme is that disease and death seldom have single causes. There is a link between what goes on in the mind, and what goes on in the body. This particular branch of study is known as "psychoneuroimmunology".
Contemporary physicians and scientists frequently dismiss the idea that the mind has any marked effect on physical health. The fact is that most people, doctors and scientists included, find it inherently easier to believe in the reality of apparently simple physical causes of disease (such as cholesterol, salt, smoking, lack of exercise, bacteria or viruses) than to accept that mere thoughts can affect our health. There are extremists on either side of the spectrum; those that claim that the mind/emotions have no influence whatsoever, and the New-Age gurus who believe that adopting certain thinking patterns can prevent cancer!
Dr. Martin's familiarity with well-documented research, authoritative commentary, and overall witty style combine to present a very convincing argument for a middle ground conclusion: that the relationships between mind, body and disease work both ways. The mind affects the body and hence physical health (negatively AND positively). Conversely, physical health affects the mind and hence our thoughts, emotions and behaviour.
Throughout the book, he alludes to examples in literature to illustrate these links between psychological factors and disease. These illustrations help to convey complex scientific ideas in a recognizable form, and I found this feature very innovative and effective... lifting the weight from some very heavy ideas, and making me say, "Of course, I get it now."
There is an extensive discussion of that modern-day source of malady... STRESS. How does "stress" make us more susceptible to breakdown and disease? Interesting sections on the Type A personality (typified by free-floating hostility, aggressiveness, competitiveness, impatience) and how it lends itself to increased risk of heart disease. Also, a section on the Type C personality (typified by suppression of strong emotions, avoidance of conflict, compliance with the wishes of others) and how it lends itself to increased risk of cancer.
The last chapter is marked heavily with Dr. Martin's thoroughgoing support of Darwinism/evolution. I differ with him on several points. But that does not take anything away from the overall value of the book. Fellow creationists be patient.

Psychoneuroimmunology 101........2002-06-02

There is an extensive discussion of that modern-day source of malady... STRESS. How does "stress" make us more susceptible to breakdown and disease? Interesting sections on the Type A personality (typified by free-floating hostility, aggressiveness, competitiveness, impatience) and how it lends itself to increased risk of heart disease. Also, a section on the Type C personality (typified by suppression of strong emotions, avoidance of conflict, compliance with the wishes of others) and how it lends itself to increased risk of cancer.
The last chapter is marked heavily with Dr. Martin's thoroughgoing support of Darwinism/evolution. I differ with him on several points. But that does not take anything away from the overall value of the book. Fellow creationists be patient.

A fascinating book! Incidentally, my copy is old, and bears the original title, which was "The Sickening Mind".
Read the newer "Healing Mind" and find out for yourself just how appropriate both titles actually are!

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The Healing Mind : The Vital Links Between Brain and Behavior, Immunity and Disease
Paul Martin
Manufacturer: St. Martin
ProductGroup: Book
Binding: Hardcover
ASIN: B000MBX324

Book Description

This second edition of Exercises in Quantum Mechanics has been much revised, updated and enlarged in order to cater more comprehensively for the growing need of students of quantum mechanics to have a better insight and grasp of this fascinating but mathematically convoluted branch of physics. The number of illustrative problems solved has been increased from 114 to 228, and new exercises have been added to each of the chapters.
The problems discussed have been carefully chosen so as to involve a minimum of technical complexity whilst emphasising the consequences of the quantum-mechanical formalism.
Various chapters have been extended significantly and three new chapters are included to make this volume more complete and sophisticated in its coverage of elementary quantum mechanics, principally by including material dealing with angular momentum coupling and tensor algebra. The presentation of the material has also been made much more attractive.
This revised edition will be especially useful to advanced undergraduate and graduate students of quantum mechanics and to all teachers of this subject.

Book Description

Teachers who have used the first edition of this book praise it for its outstanding strategies and teaching ideas. And now authors Stephens and Brown have added over 50 new ones, plus two new chapters, one dealing with struggling readers and writers and one to help you get started using literacy strategies in your content classes. Here you get sound ideas for integrating reading and writing as tools for learning in the content areas, all solidly grounded in research-based learning theories. Nonfiction and fiction literature are incorporated throughout.

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