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The Universal Tactics of Successful Trend Trading: Finding Opportunity in Uncertainty
Get a flying headstart on trend trading with this comprehensive how-to guide
The Universal Tactics of Successful Trend Trading: Finding Opportunity in Uncertainty delivers powerful and practical advice for the serious trend trader. Using the principles identified in The Universal Principles of Successful Trading, author Brent Penfold shows curious investors how to become a long-term winner with tried-and-true trend trading methodologies.
The book includes in-depth and comprehensive treatments of topics like:
- Why trend trading is so appealing
- Popular and effective trend trading strategies
- How to measure risk
- Common trend trading mistakes and how to avoid them
Investors and readers will also discover the importance of risk, and how to judge outcomes and strategies on a risk-adjusted basis.
Perfect for anyone interested in trading successfully, The Universal Tactics of Successful Trend Trading is a key strategy guide that belongs on the shelf of anyone involved in the buying and selling of financial securities.
The Universal Tactics of Successful Trend Trading: Finding Opportunity in Uncertainty delivers powerful and practical advice for the serious trend trader. Using the principles identified in The Universal Principles of Successful Trading, author Brent Penfold shows curious investors how to become a long-term winner with tried-and-true trend trading methodologies.
The book includes in-depth and comprehensive treatments of topics like:
- Why trend trading is so appealing
- Popular and effective trend trading strategies
- How to measure risk
- Common trend trading mistakes and how to avoid them
Investors and readers will also discover the importance of risk, and how to judge outcomes and strategies on a risk-adjusted basis.
Perfect for anyone interested in trading successfully, The Universal Tactics of Successful Trend Trading is a key strategy guide that belongs on the shelf of anyone involved in the buying and selling of financial securities.
- GenresFinanceNonfiction
404 pages, Kindle Edition
Published September 1, 2020
14 people are currently reading
105 people want to read
About the author
Brent Penfold
4 books2 followersBrent Penfold is a full time trader, author, educator and licensed advisor. He began his career in 1983 as an institutional dealer with Bank America and today specializes in trading forex and global indices.
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Displaying 1 - 3 of 3 reviews
May 25, 2022
This book is a more elaborate book than the previous one from the same author, even though some of the basic stuff treated here is copied from the other book (the author warns about that).
There is some interesting theoretical stuff showing how prices aren't random, they have fat tails and thin peaks.
He shows that the majority loses because of the bell curve, and indeed it's hard to cope with frequent losses and a few home-runs. Just like on the other book, focuses on having 0% risk of ruin (which I think it's just a basic stuff that any barely useful strategy must have anyway).
He makes a good point about Sharpe Ratio, stating that standard deviation ignores a trader's reality and that it ignores drawdown, which I kind of agree, but I still think it's a good metric to check an equity curve smoothness. He likes Ulcer Performance Index as a superior Risk-adjusted return measurement. I used to love Ulcer Performance Index, but I saw that there are some flaws on it also, and can't be used (as the author also points) as a sole metric. There is a need for some absolute metrics like max drawdown, which should be used as a metric to calculate position sizing.
I really liked the part where he tests many old trend strategies and their out-of-sample results from 1980, to find out that Turtle Trading and Dow Theory strategies are still very good to this day, being able alone to outperform probably most of hedge funds on the world.
I highly recommend this book.
Estimated reading time: 6h30m
There is some interesting theoretical stuff showing how prices aren't random, they have fat tails and thin peaks.
He shows that the majority loses because of the bell curve, and indeed it's hard to cope with frequent losses and a few home-runs. Just like on the other book, focuses on having 0% risk of ruin (which I think it's just a basic stuff that any barely useful strategy must have anyway).
He makes a good point about Sharpe Ratio, stating that standard deviation ignores a trader's reality and that it ignores drawdown, which I kind of agree, but I still think it's a good metric to check an equity curve smoothness. He likes Ulcer Performance Index as a superior Risk-adjusted return measurement. I used to love Ulcer Performance Index, but I saw that there are some flaws on it also, and can't be used (as the author also points) as a sole metric. There is a need for some absolute metrics like max drawdown, which should be used as a metric to calculate position sizing.
I really liked the part where he tests many old trend strategies and their out-of-sample results from 1980, to find out that Turtle Trading and Dow Theory strategies are still very good to this day, being able alone to outperform probably most of hedge funds on the world.
I highly recommend this book.
Estimated reading time: 6h30m
October 13, 2021
Real, evidence-based trading strategies. I learned a lot from this book. Will stay on my desk as a point of reference going forward.
August 28, 2023
The first half is decently weak. I think some errors are made statistically.
Last half of the book is quite strong.
Last half of the book is quite strong.
Displaying 1 - 3 of 3 reviews