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 | | MESA and Trading Market Cycles: Forecasting and Trading Strategies from the Creator of MESA, 2nd Edition by John F. Ehlers ISBN-10: 9780471151968 ISBN-10: 0-471-15196-3 ISBN-13: 9780471151968 ISBN-13: 978-0-471-15196-8 Hardcover 2002-01-04 Wiley Find Lowest Price |
Editorials | ||
Product Description Makes one of the most popular tools of market analysis available to a wider audience of traders and technical analysts Pioneered by John Ehlers in the late 1970s, the MESA method of price pattern analysis uses powerful wave theory analysis techniques, originally developed for the field of electrical engineering, to measure market cycles. MESA systems are currently used by technical analysts the world over. Top brokerages lease them and supply their clients with MESA signals and charts. And MESA systems consistently have been rated #1 by Futures Truth, the consumer reports organization of the futures industry. In this highly anticipated Second Edition of his classic work, Ehlers updates his MESA theories and makes them more accessible to a wider trading audience. Completely revised, featuring five new chapters, this new edition incorporates Ehlers's digital signal processing research into MESA. It also includes EasyLanguage programming code that makes it extremely easy for traders to take the leap from theory to practice. | ||
Reviews | ||
Very Good Book I was a disciple of John Ehlers' in the early 1990s when I bought the MESA3 and Epoch analysis programs (both for DOS) and my trading abilities improved greatly. I use those two programs to this day with superlative results. I cannot give a similarly positive review to his newer software offerings as I have not examined them personally and information provided to be by users who have indicated that their results were less than satisfactory. Ehlers' books are, in a large sense, amplifications of the instruction manuals of these progams and set forth the basis on which to study trading according to his ideas and theories. This book is an excellent read for both the casual and professional trader regardless of whether or not one actually uses his software. Ehlers is highly intelligent, extremely experienced, and the practical application of his theories is adequately explained herein. This work ranks as yet another significant contribution to the arena of securities trading by the author. Professor John W. Kercheval, III Georgetown Washington, DC | ||
A Theorist with communication skills problems This book is just plain horrible. I am a trader and a cyclical investor. I am also an engineer with Engineering Mechanics background, and very familiar with the complex math explained by Ehlers. But let me tell you, for people without any background in math this book is an absolute waste of time. The most important thing that Ehlers should have focused, he simply forgot or ignored. The book fails to show real life examples with buy-sell signals using the indicator. It goes on and on along the theoretical lines of cycle analysis and it stays at that throughout the book. It would have been much more entertaining to explain the indicator and show real life examples. But from my experience as a researcher and writer of research articles, people from this field tend to embelish and emphasize the theoretical size while completely ignoring the pure and simple aspects. A simple cycle analysis done with moving average detrending as explained by Pring is much easier. Also, a simple look at the charts and the drawing of a simple cycle lines is all that it takes to show you the turning points. | ||
Important Update of a Gem of a Book The broad trading public has been slow to recognize John Ehlers work to apply cycles methodologies (from the sciences) to trading markets .... which is good for those of use who have discovered Ehlers' work with MESA (Maximum Entropy Spectral Analysis). The first edition of this book is still the clearest and most concise discussion of applying cycles theory to markets I've ever read. This new edition retains all of the content of the first edition, but updates it with a lot of new and additional information from Ehlers' recent research into cycles and his development of trading indicators and tools. Many are familiar with the J.M. Hurst classic: "The Profit Magic of Stock Transaction Timing". Ehlers goes far beyond Hurst's pioneering work. Ehlers is an original thinker, applying new techniques and research using MESA to the market. Hurst was using a multi-million dollar mainframe in the 60's .... all of us have 10,000X more computer power sitting on our desktops than Hurst had .... Ehlers techniques can help the serious trader and investor turn all that "horsepower" loose on the market today, making it accessible to even us small traders. Hurst was also constrained to using Fourier Analysis for cycles detection .... Ehlers' MESA overcomes the need of Fourier for long data spans to compute cyclic content. If you're serious about the markets, this book needs to be part of your library .... along with Ehlers other book: "Rocket Science For Traders" | ||
More Obtuse than the Average TA Book Perhaps with time Ehlers writing improved but I found most of this book to be unclear - except the parts at the end about how to use the MESA cycles for trading. He has one idea, a ELI (Ehlers Leading Indicator), that sounds intriguing but darned if I can figure out how to calculate it based on his passing description of it. When he tries to explain phasors by "think of an engine" example, he only made me more confused. I really want to understand the mathematical ideas presented herein so I'll keep at it but I'm hoping I'll find a cycle writer with a style I can decipher better. Haven't read his later stuff yet though. Maybe he got alot more clear. | ||