Computerized Trading: Maximising Day Trading and Overnight Profits (New York Institute of Finance S.) - Hardcover

Hardcover

ISBN 10: 0735200777 ISBN 13: 9780735200777

Publisher: NYIF, 1999

Synopsis

Complete with explanatory charts, diagrams, and checklists, a detailed discussion of the use of computerized trading systems draws on the expertise of twenty expert traders, and gives step-by-step advice on strategies and reliable data to both beginning and experienced investors.

About this title

Review

Day trading is not for the weak of heart; it's also not for those reluctant to embrace technology as a means of turning a profit, especially when one considers the competition: institutional investors armed with a wealth of bodies, brains and expensive computer systems. Editor Mark Jurik's Computerized Trading preps budding day traders to compete with such Goliaths, providing comprehensive resources for investing and trading in an increasingly sophisticated market.

Jurik enlists the help of 20 experts--a mix of veteran traders, consultants and investment gurus who author individual chapters. His textbook-style primer starts with the basic trading skills needed to design trading strategies and continues with testing and evaluation methods, including an interesting chapter on the psychology of trading. The guide then progresses into more complex indicators, such as nonlinear pricing and reflexivity, as well as market models using data- mining technology. Each chapter includes an introduction and summary, along with scores of graphs, charts, checklists and case studies.

The guide certainly proves the complexity and potential risks of day trading. Fortunately, it also contributes enough well-rounded information to guide day traders toward profitability. --Rob McDonald, Amazon.com

From the Author

Real Trading Demands More Than You Suspect
As editor (not the author) of this book, I'd like to make a few remarks. Novice traders haven't a clue as to what's *really* involved in trading for the long haul. Infatuation with technical indicators typically leads to the same result: an empty trading account. So after reading sage advice and amazing insight repeatedly posted through the years on internet forums by experienced traders, I decided it was about time a book painted the real picture beginners just don't see (or want to see). Computerized Trading is an edited collection of works by many authors. The advantage this has over a single author is that you can capture the best from many minds instead of only one. This book takes full advantage of that by portraying trading, as it really is -- hard work. Money management, psychological stress, and modeling ever-changing market conditions, are issues traders would rather sweep under the rug if they could afford to, but familiarity with these nitty, gritty matters is necessary for a trader's long term survival. The disadvantage of edited books is that individual chapters typically do not connect as smoothly as in single-author books. In fact, the chapters might feel like proceedings from a convention. This is true of all edited books. However, Computerized Trading is exceptionally well organized, supplemented with summaries and checklists to help the reader absorb the wealth of material put forth by 20 well-qualified authors. Please take note that three charts in Chapter 9 are incomplete. You can download the completed charts at http://www.jurikres.com/errata/comptrad.htm The application of neural nets to real-time trading is rapidly growing in popularity, as are books on the subject. Clients of mine, especially individual investors, are developing neural net-based indicators that forecast market action with great precision. It's sad to see traders overlook this technology because of the mistaken belief that there is little application in neural net modeling for day traders. The applications of high-tech methods are growing fast! That's why the book is called *Computerized* Trading! A book of this size and scope needs to start simple and introduce more advanced topics in a steady, progressive manner. Consequently, a hotshot trader might find Chapter One too simple, maybe even condescending. The odds are, you like it. Chapter One is an edited version of the *very* popular and expensive book, Trading With DiNapoli Levels. I worked hard to get this chapter included. The author is smart and the chapter is easy to read and sets the reader in the right frame of mind. I hope this book gives experienced traders new directions for their trading strategies to grow, and provides novices an eye-opening view of the demands that come with successful trading for the long haul. There are many tasks to master and your competition is professional.

Edition details

• Publisher: NYIF
• Publication date: 1999
• Language: English
• ISBN 10: 0735200777
• ISBN 13: 9780735200777
• Binding: Hardcover
• Number of pages: 432
• Editor: Jurik Mark