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Title: Tradings Systems That Work: Building and Evaluating Effective Trading Systems by Thomas Stridsman ISBN: 0-07-135980-X Publisher: McGraw-Hill Trade Pub. Date: 20 November, 2000 Format: Hardcover Volumes: 1 List Price(USD): $55.00 |
Average Customer Rating: 3.82 (11 reviews)
Rating: 5
Summary: excellent, practical advice for the mature system developer
Comment: First, what this book is not: it is NOT one of those "buy my book and make a million in three weeks" books. He is selling no particular system of trading any market. In fact, this book is targetted at people who have TRIED to trade using one or another simple system and have failed to see those astronomical profits materialize. So he teaches an approach to building simple, robust, thoughtful systems which can be used on many markets. This is like having a really good coach walk you through the elements of any complex task, explaining each element, why it is important, and how it fits in with the others. If you like the approach that Elder and Murphy use in developing trading systems and want to learn more about the nuts and bolts of putting such a system together, this is the book you want. Do not buy this book as your FIRST book--read Elder's book and Murphy's books first, think about them, then get this one. You won't be disappointed.
Rating: 5
Summary: Every trader will benefit
Comment: The title of the book should be the subtitle: Building and evaluating effective trading systems rather than Trading systems that work. If you purchase the book thinking you have purchase a collection of trading systems that work you will be disapointed. However if you have an interest in evaluating trading systems than this is the book for you and should join similar books as the Encyclopedia of Trading Strategies by Katz. The great fun in reading this book is in the Author's opinions about everyone else. Here are a few choice comments,"There is no way you can use TradeStation as a standalone tool to build a complete straegy" p.339 "If all of these indicators do not work--"p.51 and my favorite "No wonder then that your software supplier,system vender, or market guru of choice says that your worst draw down is still to come-and they do not even know how to calculate it."p.38 This is not a man that is afraid to express his opinion. The especially good points of the book are the arguments for percentages rather than points in evaluation and the TradeStation easy language (who ever thought that up has an great imagination)code to add information to an excel sheet to get it right. If this is the subject you are interested in buy it. You will not be disapointed.
Rating: 2
Summary: Limited value
Comment: Stridsman's work reads like a lab book recollection of his experimentations rather than a systematic study of creating profitable trading systems. The text is repetitive, and filled with illogical analogies and examples. His conclusions are based on some dubious suppositions -- he seems to lack a strong grasp of the statistical analysis he employs.
Among the benefits of the book are Stridsman's adherence to standard deviation in assessing system risk and his use of percentage measurements rather than absolute dollar values.
This book could be 75% shorter and still contain all the worthwhile information.
I would recommend Conway and Behle's "Professional Stock Trading" as a much clearer approach to creating trading systems.
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Title: Professional Stock Trading: System Design and Automation by Mark R. Conway, Aaron N. Behle ISBN: 0971853649 Publisher: Acme Trader Pub. Date: July, 2002 List Price(USD): $64.95 |
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Title: The Encyclopedia of Trading Strategies by Jeffrey Owen Katz, Donna L. McCormick ISBN: 0070580995 Publisher: McGraw-Hill Trade Pub. Date: 29 February, 2000 List Price(USD): $60.00 |
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Title: Trading Systems and Methods by Perry J. Kaufman ISBN: 0471148792 Publisher: John Wiley & Sons Pub. Date: 16 November, 1998 List Price(USD): $95.00 |
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Title: Building Winning Trading Systems with TradeStation by George Pruitt, John R. Hill ISBN: 0471215694 Publisher: John Wiley & Sons Pub. Date: 22 November, 2002 List Price(USD): $85.00 |
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Title: High Probability trading by Marcel Link ISBN: 0071381562 Publisher: McGraw-Hill Trade Pub. Date: 17 March, 2003 List Price(USD): $39.95 |
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