Mechanical Trading Systems: Pairing Trader Psychology with Technical Analysis

by Richard L. Weissman

A wide variety of flexible trading systems that combine sophisticated technical analysis with trading psychology theory
Mechanical Trading Systems examines the development process for choosing and using mechanical trading systems in conjunction with trader psychology. This book discusses the advantages and disadvantages of mechanical trading systems; the dangers in system development and how to avoid them; the optimal methods for back-testing trading systems; position sizing and other risk quantification tools; and methods of improving rates of return on investments without significantly increasing risk. Most importantly, through a detailed examination of various types of unsuccessful trader personality traits (e.g., fearfulness, greed, and impatience), the book recommends different types of trading systems for a diverse array of trader types.
Richard L. Weissman (Port Richey, FL) has seventeen years' experience as a trader and developer of trading systems. He currently provides independent consultation an d training services to traders and risk management professionals in the areas of technical analysis, risk management, and trader psychology.

Genres: Finance, Psychology

217 pages, Hardcover

First published December 3, 2004

Reviews

[Javier Villar · Rating 4 out of 5]

It shows how "easy" is to have an edge but not as soundy as anybody would expect it to be.

One of the best trading books ever published. The author seems to have written sinceresly from the heart.

[Chris Waterford · Rating 2 out of 5]

I was hoping to pick up a few ideas but the book is very technical and difficult to read and understand. The best thing I got from the book was verification that my trading is on the right track. For the experts only.

[Sailaway · Rating 5 out of 5]

great book, but hard to follow it up! need to read it 2-3 times again....