Trading system design books suggestion

ronblack · Oct 17, 2012

Quote from j2ee:

The link mentioned:
Robert Pardo, Evolution and Optimization of Trading Strategies. What he writes of strategy testing is correct and all his advices are good, but the > 300 pages could be easily compressed to 10 pages.

You are too generous. Probably in 5 pages with a 12 pt font, single spaced.

Anyone looking to find out how to develop systems from books will never make any money. You only learn by doing it and also when using some tools suitable for that purpose than most retail losers cannot afford.

j2ee · Oct 18, 2012

Quote from Humpy:

If anyone is looking for a book to write then I would like to suggest a book devoted entirely to say understanding just one system like MT4 and writing a good system code for it.
The generalized books are just too general to do anything useful with.

I don't agree since strategy is what matter. Apply the strategy to MT4 or amibroker or whatever should be the same. Learning how to use the IT system is another issue.

j2ee · Oct 18, 2012

Quote from ronblack:

You are too generous. Probably in 5 pages with a 12 pt font, single spaced.

Anyone looking to find out how to develop systems from books will never make any money. You only learn by doing it and also when using some tools suitable for that purpose than most retail losers cannot afford.

I don't agree, since that is how you get your thinking start and develop your own strategy. May be no book can teach you the best strategy, but all of your reading help you to think and create your own.

ronblack · Oct 18, 2012

Quote from j2ee:

I don't agree, since that is how you get your thinking start and develop your own strategy. May be no book can teach you the best strategy, but all of your reading help you to think and create your own.

Don't care if you agree. Developing systems is an art, not a science. Nobody with a winning methodology for developing systems will put it down in a book unless he is stupid and that contradicts the fact that he is smart. So good luck with yours.

j2ee · Oct 18, 2012

Quote from ronblack:

Don't care if you agree. Developing systems is an art, not a science. Nobody with a winning methodology for developing systems will put it down in a book unless he is stupid and that contradicts the fact that he is smart. So good luck with yours.

This is not true. Other than money, there is something call reputation, fame in the world, and after people earn good amount of money, those come to mind and they would like to write a book or two to leave a mark in the world. Even they wouldn't 100% just release the way they trade, they may give you a good introduction or big picture to let some people find the right way to do research.

BlueTurtle · Oct 18, 2012

I've known a few authors, and they all say, "Of course I leave out the good stuff." That is their "edge," even though if their edge was that good they wouldn't have to write books.

yes, they love and need the fame. but they also do it usually very quickly for money. and they could care less if it works for you, as long as you buy the book.

you will get a good idea about the whole thing, but you are not smart if you think this will really be the holy grail. or even close. or even close to even close. go to the library and find something.

j2ee · Oct 19, 2012

Quote from BlueTurtle:

I've known a few authors, and they all say, "Of course I leave out the good stuff." That is their "edge," even though if their edge was that good they wouldn't have to write books.

yes, they love and need the fame. but they also do it usually very quickly for money. and they could care less if it works for you, as long as you buy the book.

you will get a good idea about the whole thing, but you are not smart if you think this will really be the holy grail. or even close. or even close to even close. go to the library and find something.

Most of the book/magazines/newspaper writers are just writing for money, they don't even care if they write anything real or good for you, as long as someone buys the thing and let they keep earning money.

But there are few % of writers really know their stuff and share little bit of their wisdom.

For example, I like to read ed seykota FAQ. May be he is not really that smart that very probably the highest return % trader out there? May be he does the online FAQ just to...let more rich people believe in him to let him manage their money?

He just has one book and seem like that is not even a trading book...(I don't have a chance to read that because there is no way I can find that book in my city), he shares how he thinks in his FAQ..why?...may be he just likes to share while he is lonely by himself in his next to lake big house?

Does he even talk about his formula or program? NO. Does his FAQ give people insight how a profitable trading system big picture should be? Yes

Is he one of your author friends? NO.

Humpy · Oct 19, 2012

Just suppose someone had a truly 100% winning system.

Would they tell everyone in a book, which at best would make a paltry million or two - of course NOT

And just suppose Joe Public found that system then it's game over for the markets - there would be a complete consensus about market direction. The "down the road " quantum computers might just do that if they can predict up and down at the same time ?

justrading · Oct 19, 2012

Read all the books for the variety of ideas discussed, and to get your thought processes going.

Test some of the ideas in various markets, either sim or paper trading.

With that experience, design a system that works for YOU. Test and refine.

Use the system, keep on reading, keep on reviewing, keep on adjusting and fine tuning - last year's perfection is this year's obsolescence.

j2ee · Oct 21, 2012

Quote from Humpy:

Just suppose someone had a truly 100% winning system.

Would they tell everyone in a book, which at best would make a paltry million or two - of course NOT

And just suppose Joe Public found that system then it's game over for the markets - there would be a complete consensus about market direction. The "down the road " quantum computers might just do that if they can predict up and down at the same time ?

Let's say you need 100% knowledge to get to 80% winning system. Someone in the world may really knows how to do so and he likes to share 20% of his knowledge big picture on how to do that, and you may work hard enough to find out how the other 60% be in your own way. Someone really like to share even they are rich and know what is going on, but it is also your knowledge to find out which books out of so many books tell you that 20% and you figure out the other 60% on your own.