The Best TA Book Ever Published!!

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Quote from whitster:

np. what do u trade, marketsurfer?
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i traded almost everything in the past. i am holding several small core positions presently---short DJIA, long EUR/USD, short OIL and long NAPS. however, i am no longer actively trading, spending my time on another project.

regards,

surf
 
Hey Surf,

While you're at it, here's a book written by a system developer who has published many automated trading systems, and teaches his system (at a substantial cost) to new traders.

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The Trading Edge

by Rickey Cheung

(if you go through amazon, they give a nice discount)

Here's the TOC:

Preface.
Foreword.

1. From School to the World of Trading.
2. Learning from Mistakes.
3. Let Your Notes Coach You.
4. Should You Cut Loss Quick or Ride with Profit?
5. The Agony and Ecstasy of Developing a System.
6. Develop a System and Evolve into a Better Trader.
7. How to Evaluate a Good Trading System.
8. Should a Trader Outsmart His System?
9. The World's Most Expensive Trading Seminar.
10. Three Steps for Become a Winner.
11. RC Trading Edge.
12. RC 5 Seminar: Strategies and Application.
13. RC 5 Indicator and Easy Language Source Code.
14. Quick Practice on RC 5 Strategies.
15. How to Trade Better than RC 5?
16. What is Trading?

Appendix 1.
Appendix 2.

Index.
***

For the record, I'm going to give it a twirl.

Regards,

JJ
 
Quote from marketsurfer:

thanks, jimmy. i am not familiar with that book or author, i'll take a look.

best regards,

surfer
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Here's all the info.

http://www.rc3200.com/en/columnlist.php

Certainly an interesting personality, here's an excerpt of his interview with Striker Securities.

"Martin Lembak: What do you think is the real edge of your RC Models in comparison to other systems?

Rickey Cheung: The real edge of RC model is the RC Indicators which measure the intraday strength and weakness of the market, and act accordingly. It is NOT based on the past winning patterns that most systems incorporate. Most systems trade on past patterns (a few days or longer), whereas my systems have forward-looking characteristics. "

As you can see from the excerpt, he is not a proponent of TA either, that's why I mention him on this thread.

Regards,

JJ
 
if he is basing decision on price, it is TA, whether he wants to admit it or not...

not all TA is "patterns"

i use TA in intraday futures scalping. i pay very little attention to conventional patterns such as H&S, etc.

but if it's based on price (as opposed to fundies - its TA)
 
Hello

I read the book a few days ago...Incredibly it is perfect for this crowd.

For those who have wandered in here by accident, you should know that the author's bottom line is simple..He tested 6,400+ single rules finding that none produced statistically significant positive returns.

To be balanced, not many trade using single (binary) rules. The author claims that he tested single rules to keep the project manageable. Fine. Fortunately there have been a few researchers who have investigated the use of multiple rule sets. Hsu & Kuan for instance found rules that did produce significant returns.

Those of us who actually work in the business are doing research like that found in the book every day..The bottom line for me, is that trading short term momentum works quite well, especially for specific index markets.

As regards the claim that this is the best TA book ever, well you have to remember that this claim is made by Marketsurfer, and even if we put aside his ridiculous claim to be a money manager, it is hard to ignore his recent currency trade, where apparently he didn't know whether he was long or short!!!!!

Impressive.

Good luck
Steve
 
Quote from steve46:

...For those who have wandered in here by accident, you should know that the author's bottom line is simple..He tested 6,400+ single rules finding that none produced statistically significant positive returns....
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I guess I'm not that surprised. I expected this general conclusion, as noted iny my earlier post on page 15 of this thread:
Quote from Thunderdog:

...the premise of your book suggests that it would make for some interesting reading. However, I surmise that generic "off-the-shelf" TA signals will provide the expected lackluster results. That's why someone can't just read a book and start making money. The stuff worth trading isn't readily made available for 3rd party testing. Just my opinion, of course.
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If Hsu & Kuan found or developed rules that generated significant returns, then they should probably have kept it to themselves.
:D
 
Quote from Thunderdog:

If Hsu & Kuan found or developed rules that generated significant returns, then they should probably have kept it to themselves.
:D
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They did T-Dog, here's an excerpt of their findings:

Reexamining the Profitability of Technical Analysis with Data Snooping Checks

As you can see from the credentials, they're academics, not traders. Academics get the win from publishing new findings and discoveries, not from making money ... which in no way insubstantiates what they are saying.

It's just that they would rather make discoveries and publish them, rather than trade them (hopefully there are plenty of folks who will be able to find their information of use).

Bottom Line: There's always more than one way to skin the markets. :D

Regards,

JJ
 
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