New Market Timing Techniques: Innovative Studies in Market Rhythm & Price Exhaustion
Author: Thomas R. DeMark
List Price: $75.00
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ISBN: 0471149780
Publisher: John Wiley & Sons (03 July, 1997)
Sales Rank: 70,406
Average Customer Rating: 4.1 out of 5
Customer Reviews
Rating: 5 out of 5
highly recommended--exceptional book for devoted traders
the secret to trading success resides in the practice of discipline and in the adherence to a sound, basic approach to a rigid trading plan. the author ignores the former but discusses in great depth the latte almost to the point of obseession. i'm not criticizing his preoccupation(or fascination) with all variations and aspects of trading models--some simple others more complex--but no one can say they are incomplete. in conclusion i believe a reader can draw value from this book in direct proportion to the amount of time he devotes to learning these priciples. no one said that making money is easy but it is obvious that once the principles the author presents are understood, they should become second nature.
Rating: 5 out of 5
You must dig for the gold, but it's there
Tom DeMark's work is great...he gives insight into the trading mind of an institutional trader: one who must buy into a downtrend and sell into an uptrend. This is definitely a different perspective, if one is accustomed to thinking in terms of lagging trend-following indicators. Who cares if some of his writing style is not ideal? I know I don't. My goal in reading this book was to get into the mind of a great trader and pull out some gems; to try to grasp a little of his thought process, his perceptions of a market when he looks at a bar chart. Some areas are difficult if one is looking for a black-and-white, mass marketable system requiring invertebrate mentality. I think a good reason why he is deliberately vague at some points, especially pinning down EXACT inputs into his indicators, is that he may not want to be accused of hawking a canned trading system. (no I am not an attorney, nor am I giving legal opinion here.) Also, by leaving room for one to input many different values, Mr. DeMark also encourages individual reasearch into market dynamics and tailoring a particular indicator to ones trading style. Putting it personally, if I'm not willing to put the time and effort into backtesting and (I hesitate to say it) optimizing an indicator for myself, then maybe I should not be trading.
Rating: 5 out of 5
One of the best books on the subject
I like to read about various trading techniques. I also attend seminars. My conclusion from 20+ years of doing both is that nobody is going to share with a reader for the cost of a book a trading system that is highly successful. that was until I read this book. Although there is no straight forward formula in the book that delineates a profitable trading system, I truly believe some of the writer's methods are capable of being turned into profitable systems. I guess the old adage is true that if someone wanted to hide something of value then place it in the eyes of the public and they won't realize its true value there. Similar Products
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