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 | | Beyond Technical Analysis: How to Develop and Implement a Winning Trading System, 2nd Edition by Tushar S. Chande ISBN-10: 9780471415671 ISBN-10: 0-471-41567-7 ISBN-13: 9780471415671 ISBN-13: 978-0-471-41567-1 Hardcover 2001-05-11 Wiley Find Lowest Price |
Editorials | ||
Product Description A technical analysis classic, newly updated to help traders develop and forward-test a high-performance trading system for today's markets In trading, a winning system is everything. While it is theoretically possible to buy a "canned" trading system, most experts agree that the best system is proprietary to each trader--developed, implemented, and tested by the individual to suit his or her exact requirements. A stimulating mix of cutting-edge techniques, timeless principles, and practical guidelines, this updated edition of a technical analysis classic offers traders a comprehensive methodology to develop and implement your own trading system, bridging the gap between analysis and execution. Tushar Chande (Pittsburgh, PA) holds nine U.S. patents for creative solutions to flexible manufacturing problems using high-power lasers and optical fibers. A contributing editor to Technical Analysis of Stocks & Commodities magazine, he has been a registered Commodity Trading Advisor and is the principal author of The New Technical Trader (0-471-59780-5) (Wiley). | ||
Reviews | ||
Some good ideas I'm a bit surprised by some of the negative reviews of this book. I've got most of the popular books on building mechanical trading systems - eg. Kaufman, Katz, Faith, Pardo, Pring, and a few others I can't remember off the top of my head. And I would say this is one of the more useful books on the subject. Another reviewer suggested that some of the systems were weak - I guess he means they're not incredibly profitable in their generic form. Well, I read books like this simply for some new ideas that I can take away to work on myself. After all, where's the fun of having all the work done for you by someone else? If in my dotage I ever find the energy to write a book on system design, you can bet I won't give away my most profitable systems in their finished form. I've spent far too many years and tens of thousands of dollars perfecting them. Why would I give that away to some lazy so and so for a few bucks? The value of this book is that it has a few fairly original ideas (and more than a few conventional ones) that can form the basis for further research. Some of the material may be beyond the novice trader, but intermediate to advanced mechanical traders will probably find something of value here. And Chande's discussion of equity curves and data scrambling is significantly better than many other books on the subject. | ||
Best trading book I ever read If I need to pick a single book to survive: it is this one! It contains not only a classification for the speed of Entry and Exit signals, but also many examples. Thushar names many important factors, that build your personal trading system, that fits your beliefs. Note, that Thushar covers EndOfDay systems. They may or may not apply to day trading as well. | ||
Don't bother Chande is a respected technical analyst, but his book is lacking. The trading concepts he brings out are interesting, but the systems themselves are weak. Someone might be able to take his concepts and improve upon them by writing better systems based on his ideas. For example the "channel-break pullback" pattern is a very valid concept. The code does not capture, in my opinion, a real life breakout and pullback. To place an arbitrary number of days to buy on a pullback, instead of using conditions to verify the completion of the pullback is like saying the market will always top or bottom after "n" number of days. I was very disappointed especially with the high price of the book. These systems will not improve your bottom line. Pass. | ||
Beyond Technical Analysis : How to Develop and Implement a W I found this book helpful in formulating ideas in how to develope trading systems.It could have been formated better to make reading easier.The formula's should have been written in both Metastock and Easy language code. | ||
Goes Beyond the Average Book Chande goes beyond the average book on technical analysis to some of the most important topics of trading. Unfortunately, he is stuck in an old paradigm of one contract/market at a time. As a result, his conclusions are not at all accurate. This is a disappointment because he really is trying to take the trader to the next level. Interesting, but be careful of the results. | ||