Indeed there is....it's a cheesy copy however...not professionally done.
https://billwill.ru/book/J.HurstTheProfitMagicOfStockTransactionTiming.pdf
Develop and follow a written trading plan
- Thread starter Chuck Krug
- Start date
https://billwill.ru/book/J.HurstTheProfitMagicOfStockTransactionTiming.pdf
I carefully write down everything in neuronal language at the very fountain of my own universe, Chuck: my very private brain. It's a huge, powerful fortress, in the middle of a far, far away Northern Sea, surrounded by murderous tides and unconquerable walls that no invader will ever be able to cross. Any other support, be it paper or marble, looks very weak to me.
.RU?
So probably an illegal copy. In Russia it is more difficult to find legal copies then to find illegal ones. Not only books, also software...
Ever thought about the risk of installing viruses? I would never download nor install anything Russian.
PDF files are fairly innocuous...albeit they can contain javascript code...which can call libraries of functions which could cause damage...no question about that.
This one is safe...I double-checked.
Most people don't know that.
I use two computers:
- one only for trading, I do nothing else with this computer.
- one for all the rest (browsing, email, downloads...)
Good strategy.... I am going to do the same. Best to keep the trading machine lean and mean....minimizing the number of background services and applications.
Simple logic. Avoids lots of problems and less stress.
From both computers I made a clean image disc when I bought them and now I add on a regular basis new images. Restoring in case of problems takes less time then recovering all the data without the viruses.
As restoring an image is a piece of cake, even installing suspicous software out of curiosity is no problem as afterwards I put a recent image back and all risc is gone.
Volpri,
That's an interesting book you mentioned. I hope you don't use this to look for the timing of your trades.
Kidding aside, do you employ his cycles idea in some visual ways because I know wave equations & phase permutations are a very complex subject and anything that goes up and down could be reconstructed & automated, provided computing power available?
PS: if you don't mind for me picking your brain a bit.
That's an interesting book you mentioned. I hope you don't use this to look for the timing of your trades.
Kidding aside, do you employ his cycles idea in some visual ways because I know wave equations & phase permutations are a very complex subject and anything that goes up and down could be reconstructed & automated, provided computing power available?
PS: if you don't mind for me picking your brain a bit.
as opposed to fat and
Yes you might say somewhat visual. i just got the following principles or concepts from his book and certainly apply them differently than he does. My application is in a very discretionary way. Not automated or mechanical at all. No computer algo just eyeball and certain measurements and awareness of what is happening in a dynamic moving market.Volpri,
That's an interesting book you mentioned. I hope you don't use this to look for the timing of your trades.
Kidding aside, do you employ his cycles idea in some visual ways because I know wave equations & phase permutations are a very complex subject and anything that goes up and down could be reconstructed & automated, provided computing power available?
PS: if you don't mind for me picking your brain a bit.
Principles and concepts i gleaned:
1) The magic of compounding profits in multiple small moves as opposed to profits when going for bigger moves. This is counter intuitive as most market pundits advise going for the larger moves. But doing so means generally less profits because trade interval is less and compounding is less. The more trade interval the more potential for compounding providing the trader is good at transaction timing.
2) the concepts of cycles on all time frames. This is really what measured moves in a strange sort of way are about. I would not try to find the cycles the way hurst does as it is quite complicated and not necessary imo.
3) because the cycles exist one can more precisley time entries and exits. And anticipate them better. And one should strive for that. He calls it transaction timing.
4) the 4 steps to riches concepts
5) concept of nesting. Cycles within cycles. For instance, smaller measured moves nested within larger nested move. Channels nested with channels..BO’s within BO’s ..wedges with wedges..ad nauseum....
6) what makes price change and x motivation
Most of this stuff in first three chapters if i recall correctly. I bought the book years ago.
7) summation..commonality..variation..nominality principles. Just these concepts not necessarily the way he applies them.
8) chapter 3 on chart patterns.
You don’t need any of this stuff to trade however, understanding these principles may influence the style of trading you choose to do as you trade.
Hurst quietly disappeared off the scene..........
I do not agree with this.
My personal experience is that you should try to find the optimal combination of size of the moves, average profit per trade, and losses in losing trades.
Profits per trade should reach a minimum so that the average profit per trade is at least in a good ratio to the loss per trade. Each entry has a risk and the potential profit should be big enough to result in an overall profitable system.
If the moves become very small the more difficult it becomes to stay profitable as you cannot reduce the stops to a very small size, as this would result in a nonstop being stopped out even before the move starts. Small profits will also result in problems with the commission that are relatively expensive then. Commission on a $20 profit is 5 times higher then a $5 commission on a $100 profit.
I do believe in compounding combined with frequency. But not in trading "micro waves".