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Trading Systems Explained: How to Build Reliable Technical Systems

Category: Books
Learn the art of technical systems from the master! Martin J. Pring is one of the most respected names in technical analysis research. In Technical Analysis Explained, Pring reveals his favorite systems for trading the markets....
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Valuable info on mechanical trading methods but limited in u
"Trading Systems Explained" outlines how to build technical trading systems just as the title suggests. You will need sophisticated software to do this. Some online brokerages provide high level charting but several offer simpler products that aren't as complex. I would imagine, however, most people buy the book to learn about specific trading systems/techniques that are recommended by Mr. Pring - that's why I purchased it. For those looking for stock trading systems, I found three within the course of the 221 pages that were of value.

1. Buying into the S&P and other equity indices when they go above the 10 month moving average and selling when they go below the 10MA provided consistent profits over the long term (tested for 98 year period). Ch. 12

2. Using a 10 day MA and an oscillator made up of the ratio of the present day's close divided by the 10 day MA allows you to take partial profits at earlier points with half of your investment while letting the other half continue for a longer time frame. This is to limit losses more than create additional profits. This produced great success on the NASDAQ and Russell 2000. Ch 14.

3. Comparing the S&P composite to the 3 month commercial paper yield (inverted) and using the 12 month MA for each offers nice results. He was able to improve this system but it created greater volatility and didn't sound like a good choice to make for most people.

There was significant discussion about many other entities such as gold, the pound, T notes, etc. in addition to explanations about the many parameters used in his analyses. Not a bad book but it's limited if you're looking for specific ways to trade equities.

One big positive is the CD-ROM. It covers the entire book and is the easy way to digest it. After watching the PowerPoint like presentation with Mr. Pring's narration, you can go back to the book to review areas that might not be perfectly clear. I really, really like this feature. The book is technical and a valuable source for those learning about mechanical trading methods.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Review Updated

This review is the subjective opinion of an Investimonials.com member and not of Investimonials LLC.
JS68 Cowley, Oxford

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