New Concepts in Technical Trading Systems
$21.45
| Author(s) | |
|---|---|
| Pages |
116 |
| Format |
|
| Published Date |
1978 |
The purpose of New Concepts in Technical Trading Systems is not to entertain, but rather to equip the reader with specific concepts, tools and indexes to use in trading the markets. The concepts, methods and systems presented in this book are the result of many years of study and research in the market. The approach is strictly technical and the results are definitive.
Author’s Introduction:
Nothing in this book has been taken from a previous author’s work. What you are about to read is original. I have tried to present the material in such a way that it will be readily understandable to the beginning trader as well as the seasoned professional who is familiar with systems technology. This is a difficult task. I realize that the beginner may find himself reading through the text several times in order to completely comprehend the material and the computer whiz kids will find the information overly simplified; however, I think the average trader will find the material set out in a way that is reasonably easy to follow.
The programmable calculator, due to its relatively inexpensive cost, is readily becoming an indispensable tool for the technical trader. All of the systems and indexes in this book can be programmed on most of the programmable calculators now on the market. Usually the dealer who sells programmable calculators also has personnel capable of writing programs to be used in the calculator and it should be easy for this person to program your calculator for any or all systems in this book.
Contents:
- The Missing Part of Most Trading Plans
- The Parabolic System
- The Volatility Index
- The Volatility System
- The Directional Movement Concept & System
- The Momentum Concept
- The Trend Balance Point System
- The Relative Strength Index
- The Reaction Trend System
- The Swing Index
- The Commodity Selection Index
- Capital Management
New Concepts in Technical Trading Systems By Welles Wilder pdf
21 reviews for New Concepts in Technical Trading Systems
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Treasure Dalton (verified owner) –
The concepts are great for creating trading strategies that work.
I primarily trade the FOREX and these concepts have greatly improved my performance.
Leona Baldwin (verified owner) –
Great book easily explaining technical indicators still used today. It’s great getting it from the “inventor” himself. A timeless book.
Malani McLean (verified owner) –
Wilder’s work is the basis of so much of today’s technical analysis. Without his pioneering concepts that are outlined in this book, TA would not be where it is today. I recently attended the annual IFTA conference and there was an underlying theme of going back to the roots of TA and really understanding the concepts. Today, it is to easy to have every indicator imaginable on your screen without knowing how they really work. Reading Wilder’s book is a great way to learn or “re-learn” the underlying concepts.
Estelle Garrison (verified owner) –
God basics for the technician, but there are better sources and all information is free on the internet (if you know where to look).
I would suggest “Technical Traders Guide to Computer Analysis of the Futures Markets” and looking up the equations you want to get into more on the internet.
If you are a technician for a living then you must at least know what is in this book or you will be well behind on the very basics.
Jazlyn Page (verified owner) –
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 and get his indicators on our charts with only a few simple clicks this book contains the specific formulas for how to calculate these indicators. Inside the book there are even worksheets showing how he worked out the math with his own formula to get the indicator reading. It is amazing to think Wilder did this by hand in 1978 with no charting package, computer, or even an excel spreadsheet to use.
I got this book hoping to go to the source of my beloved RSI and get some insights from its creator. While I did not get much of a take away from this book on how to trade with it I did enjoy seeing its birth and the history lesson. Many others have taken up the reins and created systems and methodologies to use with all his indicators. This book was more of a explanation and showing how the calculation itself is done.
So this is a great book for a history lesson or if you need to program a charting package but most modern traders will be very familiar with most the basics found here about the indicators themselves. I have no regrets buying this book personally, I feel like I witnessed the birth of the RSI.
Fletcher Ponce (verified owner) –
Amazing book, best of the best. No world to describe the great work done by Welles Wilder.
Rebecca Franklin (verified owner) –
Certainly useful for discipline. Mathematically not always very clear. Stick to one of the systems proposed..if you like it.
Jaiden O’Neal (verified owner) –
A deep technical book describing some of the best time-tested trading tools for stocks and commodities.
Simon Hampton (verified owner) –
Mathematics applied to market trading. If you are a trader, you’ll appreciate these few concepts. Others know and use them so you’ll be at a disadvantage if you don’t.
Pablo Morrison (verified owner) –
The basic ideas of Wilder’s trading systems are well explained in a beautiful book. Not much time is spent on how and when to use the different systems.
Noe Villarreal (verified owner) –
Old school but still relevant!
Ford Silva (verified owner) –
Man is a genius
Alvaro Lowery (verified owner) –
This book provides a lot of information for those who REALLY want to study each one of his indicators. Not for those looking for a “easy” read.
Aileen Daniels (verified owner) –
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 bought it just to have it on my personal library and it’s where one copy seats today.
This was the first system that I could understand, use and have a math proof to back it up, I’m not saying that what’s in the book will be applied directly, what I’m saying is this book brings the concept of further developments. Mr. J. Welles Wilder is a guy, among others, that I would really have the pleasure to meet someday and I truly hope to have the opportunity to do so. Great work.
Elias Esquivel (verified owner) –
Wilder’s formulas are ground breaking. It’s exactly where I had to start with my own investment strategies…
Sevyn Montoya (verified owner) –
It’s a must have for traders and chartist.
Lucia Evans (verified owner) –
A classic. Whilst written in the early 70’s the indicators detailed within the book remain in extensive use by traders everywhere.
Jaylee Reilly (verified owner) –
Great book for learning a trading system that is understandable. I did not say easy to understand because some strategies work better for some people than others. It is NOT a new concept now since the book was written well before the Internet. There is an inherent advantage to using a strategy that is not in common usage.
Xander Norman (verified owner) –
Good to read about the indicators directly from the creator himself
Crosby Bonilla (verified owner) –
this book , will not in anyway improve your profit. you all coming for this.
Romina Lim (verified owner) –
Great info lots of details