Gaming the Market : Applying Game Theory to Create Winning Trading Strategies
Author: Ronald B. Shelton
List Price: $55.00
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ISBN: 0471168130
Publisher: John Wiley & Sons (18 April, 1997)
Sales Rank: 128,047
Average Customer Rating: 2.62 out of 5
Customer Reviews
Rating: 1 out of 5
Don't waste time and money on this book!
I waste my time to read this book which I borrowed from library. Anyone who trade more than six months will find nothing valuable in the book. I am surprised that John Wiley & Sons, which has a lot good books on trading and finace, would publish this book.
Rating: 4 out of 5
An Honest Work
This book contains a research work done by a practitioner. It maily used the theory of probability and the assumption of normal or lognormal distribution of the market prices, though with some game theory interpretations. I have to say that it is an honest and interesting work. Also it is inspiring for further study in that direction. There are also some disappointments: i) the mathematics and the overall material are presented poorly; ii) some of the results need more clarification and explanations, and are not complete at the level as published.
As ironic as it sounds, I was drawn into reading the book after I read the previous negative reviews on this board. I would say that those comments are either irrelevant, or ignorant. Any one interested in developping a feasible trading system could learn something from this book.
Rating: 1 out of 5
This book is complete garbage
The author is obviously in way over his head. This pathetic mockery of game theory is filled with errors. I'll only present the two most egregious ones:1.Incredibly, the author doesn't seem to realize that the probability of a major adversity (as defined in the book) is greater than or equal to the probabilty of a minor adversity. This restricts the applicable section of his model.2.The slope for determining profitable trades (according to the author's model) is given by (w+x)/(y-x). By choosing x arbitrarily close to y the slope can be infinite.Conditions 1 and 2 imply that a profitable trade on any and all stocks can be made under any market conditions with no risk whatsoever.This inept, incompetent book is so bad that it casts doubt upon the entire line of technical books from Wiley and Sons and their editorial process. Similar Products
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