New Trading Dimensions : How to Profit from Chaos in Stocks, Bonds, and Commodities
Author: Bill Williams, Marketplace Books
List Price: $59.95
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ISBN: 0471295418
Publisher: John Wiley & Sons (01 October, 1998)
Sales Rank: 53,831
Average Customer Rating: 3.63 out of 5
Customer Reviews
Rating: 2 out of 5
Fractals in review
As an avid student of Chaos Theory and Fractals, I found this book to be similar to his other one. Williams eludes to using fractals in his analysis but makes no reference to fractal dimensions, Koch curves, monsters or any of the original theories as proposed by Mandelbrot. He does present some scaling principles and their application to Elliot Waves, but this is under the assumption that the Elliot Wave is correct or that you believe in it. I do agree with some of the money flow theories Williams proposes, which is probably the most clearly explained and substantiated part of his trading theory. For a more scientific approach to fractal analysis, I recommend "Fractals and Scaling in Finance" by Mandelbrot and for software, "Fractal Finance" by Tetrahex. Both of these follow a similar system, although Fractal Finance does use a MACD which appears similar to Williams.
Rating: 1 out of 5
Can Not Recommend
Nothing more than an infomercial for his business - selling software to support the methods. The "fractal" method that he presents appears to be backwards i.e. sell an up market, buy a down market. Also he discusses his trend lines by color and all of the plates are in grey scale. You can figure it out but it does take away from the desired effect.
Rating: 5 out of 5
most useful book on trading I have read in my life
I have seen there are few people criticizing the use of chaos theory in this book. I have read other books on chaos, probably they are more complex, closer to the theory, but apply them to the market if you can.
This book emphasizes on knowing yourself and then the market. My experience is it took me from being not consistent winner to a profitable trader. I can also look to the market as a friendly place for the rest of my life. No more struggle, just flow. Similar Products
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