Forex Books - page 33

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Ernie Chan - Algorithmic Trading: Winning Strategies and Their Rationale : the book

In his well-received first book Quantitative Trading, Dr. Ernest Chan addressed the essential techniques an algorithmic trader needs to succeed at this demanding endeavor. While some useful example strategies were presented throughout, they were not the main focus of the book.

With this in mind, Dr. Chan has created a practical guide to algorithmic trading strategies that can be readily implemented by both retail and institutional traders alike. More than an academic treatise on financial theory, Algorithmic Trading is an accessible resource that blends some of the most useful financial research done in the last few decades with valuable insights Dr. Chan has gained from actually exploiting some of those theories in live trading.

Engaging and informative, Algorithmic Trading skillfully covers a wide array of strategies. Broadly divided into the mean-reverting and momentum camps, it lays out standard techniques for trading each category of strategies and, equally important, the fundamental reasons why a strategy should work. The emphasis throughout is on simple and linear strategies, as an antidote to the over-fitting and data-snooping biases that often plague complex strategies. Along the way, it provides comprehensive coverage of:

* Choosing the right automated execution platform as well as a backtesting platform that will allow you to reduce or eliminate common pitfalls associated with algorithmic trading strategies

* Multiple statistical techniques for detecting "time series" mean reversion or stationarity, and for detecting cointegration of a portfolio of instruments

* Simple techniques for trading mean-reverting portfolios-linear, Bollinger band, and Kalman filter-and whether using raw prices, log prices, or ratios make the most sense as inputs to these tests and strategies

* Mean-reverting strategies for stocks, ETFs, currencies, and futures calendar and intermarket spreads

* The four main drivers of momentum in stocks and futures, and strategies that can extract time series and cross sectional momentum

* Newer momentum strategies based on news events and sentiment, leveraged ETFs, order flow, and high-frequency trading

* Issues involving risk and money management based on the Kelly formula, but tempered with the author's practical experience in risk management involving black swans, Constant Proportion Portfolio Insurance, and stop losses

Mathematics and software are the twin languages of algorithmic trading. This book stays true to that view by using a level of mathematics that allows for a more precise discussion of the concepts involved in financial markets. And it includes illustrative examples that are built around MATLAB(c) codes, which are available for download.

While Algorithmic Trading contains an abundance of strategies that will be attractive to both independent and institutional traders, it is not a step-by-step guide to implementing them. It offers a realistic assessment of common algorithmic trading techniques and can help serious traders further refine their skills in this field.
 

Larry Williams, "Long-Term Secrets to Short-Term Trading" : the book

Sharing his years of experience as a seasoned and successful trader, Williams offers his market wisdom on a wide range of topics, from chaos and speculation to volatility breakouts and profit patterns. With his expert guidance, you'll learn about such fundamentals as how the market moves, what are the three most dominant cycles, when to exit a trade, and how to hold on to winners until the end of your chosen time frame.

Along with in-depth analysis of the most effective short-term trading strategies and details on the best theory and implementation of money management, Long-Term Secrets to Short-Term Trading features Williams's winning technical indicators, as well as his thoughts on a broad range of topics. Here is a sampling:

* "A short-term trader has one objective; to catch the current trend of the market. That's it. That's all you should try to do!"

* "The shorter your time frame of trading the less money you'll make."

* "You will never make big money until you learn to hold on to your winners, and the longer you hold the more potential you have for profiteering. . . . It takes time to make money regardless of the activity."

* "Wealth is not amassed with just good market calls. It also requires correct money management."

* "I think you need to fear the market and fear yourself. . . . Without fear there is no respect, if you do not respect the markets and fear yourself you will become one more dead body on the long trail of commodity market casualties scattered across the land."

Filled with invaluable insight, precise rules and formulas, and helpful advice from one of today's most respected market players, this comprehensive and practical resource will serve as the basis for, if not indeed become, your short-term trading "gospel."
 

Getting Started in Swing Trading : the book

An accessible introduction to A PROVEN TRADING STRATEGY

GETTING STARTED IN SWING TRADING

Swing trading is not a new idea. But, only recently-with the Internet opening up markets to virtually everyone-has this short-term technical trading strategy become a viable option for individual investors.

There are many ways to profit from the swing trading method, and with Getting Started in Swing Trading, author Michael C. Thomsett will show you how to use this approach to quickly take advantage of short-term price movements found in today's dynamic markets.

Written in a straightforward and accessible style, Getting Started in Swing Trading:

* Explores many of today's most popular charting signals and explains how to recognize them

* Provides suggestions for picking stocks appropriate for your swing trading strategy

* Illustrates how options can be used within your swing trading program to mitigate risk and improve performance

* Analyzes the effectiveness of short selling within a swing trading strategy

* Outlines some restrictions on swing trading, including brokerage rules and requirements, and regulations about high-activity trading

* And much more

Filled with in-depth insights and practical advice, Getting Started in Swing Trading will enhance your understanding of this proven trading method as well as improve the overall profitability of your portfolio.
 

George Pruitt, John R. Hill, "Building Winning Trading Systems with TradeStation" : the book

TradeStation™ has gained worldwide acceptance as the premiere investment software platform, but information regarding it has been limited and focused mainly on functionality–until now. In Building Winning Trading Systems with TradeStation™, systems experts George Pruitt and John Hill show you how to unlock the power of this platform–specifically TradeStation™ 6.0–and profit from it as you trade a variety of markets including the futures, commodities, and stock market, to name just a few.

Building Winning Trading Systems with TradeStation™ is essentially two books in one–a trading system development guide and a guide to TradeStation™’s programming language. Within the first few chapters of this informative resource, you’ll be introduced to EasyLanguage®, the powerful programming language that sets TradeStation™ apart from other software packages. Building on this foundation, Building Winning Trading Systems with TradeStation™ discusses the essentials of programming, from proper programming techniques and program control structures to data structures and analysis techniques such as PaintBar, Indicator, ShowMe, Function, and Strategies.

With the basics of programming behind you, this comprehensive guide covers all aspects of researching, building, understanding, and evaluating your own trading strategies and systems in conjunction with TradeStation™ and EasyLanguage®. In-depth analysis provides practical guidance on:

• How to understand trading system performance and proper strategy optimization

• Good trading ideas, their codes, and how to translate them into software

• How to fix your logic and programs through the art of debugging

• Developing, researching, and testing trading ideas

• And much more
 

Brett N. Steenbarger - The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist : the book

Written in a practical and engaging style, The Daily Trading Coach highlights specific actions that readers can take to meaningfully improve their trading performance. The book consists of 101 lessons designed as coaching interventions, featuring techniques and homework assignments that traders can put to work immediately. The Daily Trading Coach is not only a guide to self-mentoring; it's also a motivational resource that will allow traders to start each day with concrete goals and a positive perspective. Designed as a multimedia resource that stresses the skills and techniques for self-coaching, this book will help readers help themselves throughout their trading careers.
 

Bill Williams, "Trading Chaos: Applying Expert Techniques to Maximize Your Profits" : the book

Chaos theory now stands at the cutting edge of financial decision-making methods. The product of years of scientific investigation into unpredictable phenomena, it has the potential to offer traders entirely new perspectives on the movements of markets—and less risky routes to greater, more consistent profitability. Unlike other books on the subject, Trading Chaos takes chaos analysis out of the realm of the abstract and makes complex concepts easy to understand and use. It offers you the most practical, comprehensive guide available to applying chaos theory to the real world of trading and investing.

In this breakthrough work, author Bill Williams gives you the benefit of his unique qualifications: 35 years of successful trading and a PhD in psychology. The instructional techniques used in Trading Chaos have been tested and refined in the workshops, seminars, and private tutoring sessions Dr. Williams has conducted in 12 different countries.

Designed for all traders—from beginner to experienced professional—Trading Chaos introduces you to the financial applications of chaos in five graduated stages, starting with a clear, nontechnical introduction (Level One: The Novice Trader) all the way to chart analysis, fractals, Elliott wave, and advanced nonlinear dynamics (Level Five: The Expert Trader).

Trading Chaos probes depths of human and economic behavior that other books do not even mention, including:

* A detailed examination of the underlying structure of the market

* How individual belief systems affect the way we trade

* How to determine "what the market wants"

* Most importantly—"how to want what the market wants"

Numerous charts, trading models, analysis spreadsheets, and review questions reinforce the key concepts and help insure full comprehension of the material.

Regardless of your current degree of expertise, Trading Chaos will take you to new levels of trading confidence and increased profit.

This practical guide to the powerful tools of chaos theory will help you make better, more profitable trades

"Bill Williams brings a unique background and experience to the commodity trading world. His approach to becoming a successful trader includes many fresh and fascinating concepts for traders of all experience levels."—Bruce Babcock Editor, Commodity Traders Consumer Report

"Bill Williams has demystified the Elliott Wave. His technical approach is an innovative and effective way to trade markets for novice and expert traders alike."—Bob Koppel Skylane Trading Group

"Trading Chaos by Bill Williams is an excellent guide to profiting from a market which is nonlinear in structure. The book is divided into logical levels of trading techniques useful to the novice and expert trader. I was genuinely surprised that the expert can still learn refreshingly new techniques at each level presented."—Timothy C. Slater Managing Director of Dow Jones Telerate Seminars

Trading Chaos takes chaos theory out of the abstract realm and into the real world of practical investment decision-making. Using the techniques in this remarkable book, you will uncover the hidden patterns of what appear to be the random, unpredictable movements of the commodity, futures, and options markets. Regardless of your current level of experience, expert commodity trader and trainer Bill Williams will give you the skills and insights to move to levels of trading ability you would not have imagined possible.

Clear, practical, and nontechnical—Unlike other books on chaos theory, Trading Chaos is designed to be easy to understand and use

Unique organizational format—Introduces the reader to the financial applications of chaos in five graduated stages, from Novice to Expert Trader

Expert advice on avoiding common psychological traps and pitfalls—Including such self-limiting afflictions as the "paralysis of analysis," "opinionitis," and the dangers of trading on individual belief systems

A wealth of supplementary materials—Charts, trading models, trade plans, analysis spreadsheets, and trading diaries illustrate and reinforce key concepts
 

Perry J. Kaufman, "A Short Course in Technical Trading" : the book

Learn to trade using technical analysis, market indicators, simple portfolio analysis, generally successful trading techniques, and common sense with this straightforward, accessible book. Essentially a course in making money, A Short Course in Technical Trading teaches proven long- and short-term trading techniques (with an emphasis on short-term), covering basic indicators and how you can best use them to your advantage.

The book includes a trading game so you can trade along with the lessons, posing likely problems that you'll encounter once trading begins. As trading becomes more complicated, so do the problems.

You'll get a running start as a trader with usage tips on the most popular trading tools. A Short Course in Technical Trading is unlike any other book on the market and is available at a convenient low price.
 

Alexander Elder, "Trading for a Living: Psychology, Trading Tactics, Money Management" : the book

Trading for a Living Successful trading is based on three M's: Mind, Method, and Money. Trading for a Living helps you master all of those three areas:

* How to become a cool, calm, and collected trader

* How to profit from reading the behavior of the market crowd

* How to use a computer to find good trades

* How to develop a powerful trading system

* How to find the trades with the best odds of success

* How to find entry and exit points, set stops, and take profits

Trading for a Living helps you discipline your Mind, shows you the Methods for trading the markets, and shows you how to manage Money in your trading accounts so that no string of losses can kick you out of the game. To help you profit even more from the ideas in Trading for a Living, look for the companion volume--Study Guide for Trading for a Living. It asks over 200 multiple-choice questions, with answers and 11 rating scales for sharpening your trading skills. For example: Question Markets rise when

* there are more buyers than sellers

* buyers are more aggressive than sellers

* sellers are afraid and demand a premium

* more shares or contracts are bought than sold

* I and II

* II and III

* II and IV

* III and IV

Answer B. II and III. Every change in price reflects what happens in the battle between bulls and bears. Markets rise when bulls feel more strongly than bears. They rally when buyers are confident and sellers demand a premium for participating in the game that is going against them. There is a buyer and a seller behind every transaction. The number of stocks or futures bought and sold is equal by definition.
 
strateger:
Dimitris N. Chorafas - �Treasury Operations and the Foreign Exchange Challenge: A Guide to Risk Management Strategies for the New World Markets�

Dimitris N. Chorafas - �Treasury Operations and the Foreign Exchange Challenge: A Guide to Risk Management Strategies for the New World Markets� The methods, instruments, and technologies used to manage risk in the foreign exchange markets are more complex than ever before. Banks, corporations, and financial institutions today must adopt new roles in order to compete successfully in the explosively evolving foreign exchange markets. Focusing on the new global electronic markets, Treasury Operations and the Foreign Exchange Challenge is a complete, practical introduction to today's foreign exchange operations, providing the techniques and insights needed to pinpoint opportunities and control risks.

This book shows how trading systems, computer-based models, and other analytical tools can be used to examine financial opportunities and help develop sound investment and hedging decisions. Treasury Operations and the Foreign Exchange Challenge covers global trading activity in foreign exchanges and its effects on the newly revitalized area of corporate treasury operations. Specific topics include the new world of treasury functions; treasury duties in risk management; facing the challenge of global risk; the ways and means of transacting foreign exchange deals; swaps, hedging, and currency management; the rise and fall of currency values; and the importance and likely future of the ECU. Illustrated by numerous examples drawn from the experience of leading financial institutions in the U.S., Japan, and Europe, Treasury Operations and the Foreign Exchange Challenge shows the diverse, sometimes ingenious, and sometimes catastrophic ways these institutions are responding to market challenges, designing new financial products, and using the latest technologies. Treasury Operations and the Foreign Exchange Challenge is an invaluable reference for bankers, pension fund managers, insurance executives, corporate treasurers, and all other financial professionals in treasury, Forex, and securities- or any management decision-maker who wants to fully understand the changes of the 1980s and the challenges of today.

I've never heard before of these Forex books not until I saw this post. Thanks for sharing. Are they accessible online?

 

Forex on Five Hours a Week: How to Make Money Trading on Your Own Time : the file

Trading the forex market has become one of the most popular forms of trading. It's a 24/7 job for many. But what if you have a day job and only a little time to dedicate to the market? In Forex on Five Hours a Week, top forex trader Raghee Horner shows you how, with a few key techniques and just five hours a week, you can capture consistent profits in the forex market.
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