This book offers a modern treatment of Hurst’s original system of market cycle analysis. It will teach you how to get to the point where you can isolate cycles in any freely-traded financial instrument and make an assessment of their likely future course. In this extensive step-by-step guide you will find a full description of the principal tools and techniques taught by Hurst as well as over 120 colour charts, together with tables and diagrams. The Updata and TradeStation code for all of the indicators shown is also included.
Author’s Note:
My experience in financial markets has been gained on the sell side broking Japanese equities for investment banks in both London and Tokyo; and on the buy side as an analyst and trader for an equity long-short fund. My interest in market analysis drew me towards the Market Technicians Association in New York and I hold their CMT designation. I am also currently preparing a thesis for the International Federation of Technical Analysts’ Master of Financial Technical Analysis (MFTA).
My knowledge of Hurst cycle analysis comes principally from studying Hurst’s original material. J.M. Hurst was an American aerospace engineer in the 1960s who applied his understanding of mathematics, computing and engineering to market cycles. The workshop-style course he produced in the early 1970s described in detail the practical application of his cyclic principles to real trading. Apparently only 250 copies of the course were ever produced and after a few years of private seminars, Hurst seems to have simply vanished.
Twenty-five years later Traders Press [1] republished Hurst’s original work. However, because Hurst’s course was written before personal computers were widely available the content is rather difficult for the modern market technician to implement. It is also hard work; but having said that, the course is pretty much essential reading for any serious student of market cycles. The code for all of the indicators used in this book is provided in two programming languages in the appendices. More may be added in the future if there is demand.
The purpose of this book is to get you to the stage where you can perform cyclic analysis on any freely traded financial instrument quickly and effectively on your own system. Do not expect to find it easy to begin with, because it is not. In a short time however you will find that the pieces start falling together, you get the knack and the skills become second nature. Eventually you will not remember why it seemed so hard to start with. Hurst Cycle Analysis is part art, part detective work and part science, and once you have mastered it you will benefit from the outstanding results it is capable of producing. And, what is more, you will begin to see the markets in a completely new light.
Contents:
- The Properties of Cycles
- Basic Tools I: Valid Trendlines
- Basic Tools II: Displaced Cycles – The FLD
- Isolating Market Cycles I
- Isolating Market Cycles II
- Selection, Set Up And Entry
- Managing Open Positions
- RSI And Elliott Wave
Mastering Hurst Cycle Analysis: A Modern Treatment of Hurst's Original System of Financial Market Analysis By Christopher Grafton PDF
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