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Readers reviews of The Ultimate Technical Trading Software

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This is the book you need if you are interested in mechanical and systematic trading systems. This isn’t about black box systems. It is about trading software that attempts to harness the power of statistics and data manipulation to develop better trading systems.

 

It is the most detailed examination of trading systems built around the ideas of Gann, Elliot,  Fibonacci, cyclic analysis and financial astrology. This is an excellent exploration of a selection of the more advanced and complex approaches to trading the market. Here is an opportunity to explore the systems and the software and to understand how to evaluate the trading systems results.

 

Gann, Elliott wave and Fibonacci are just the starting point for some of the specialist trading techniques used to understand market behaviour. Ultimate Trading Software provides a guided tour of the best software available for implementing these approaches. The tour  extends into multiple time frame analysis, cyclic interpretations and financial astrology. The principles of each approach are clearly explained. Interviews with traders and software developers highlight the difference between advanced system based trading and Holy Grail solutions.

 

These are complex systems, beyond the easy reach and understanding of most traders. Unfortunately this sometimes makes these approaches are a fertile hunting ground for the less respectable sellers of black box trading software. This has unfortunately tarnished the importance and significance of some very interesting approaches to understanding the market. It also makes it more difficult for legitimate software solutions to achieve the type of attention they deserve.

 

There are experienced, successful and dedicated traders using these approaches. Some of them have felt the need to push the boundaries of available software and develop specific software and charting solutions to speed up the application  of their techniques. Once Gann charts were constructed by hand. Now software like Ganntrader delivers a faster solution that allows traders to concentrate on the application and assessment of the techniques.

 

This is specialist software and specialist software is expensive. It is a daunting leap into the dark to move from an interest in the technique to buying expensive software to explore the idea further. This book fills this gap with an excellent coverage of what is involved in the software, how it works, how easy it is to use, and how it is applied to trading solutions. It gives readers a better idea of what is involved and makes it easier for readers to decide if they wish to take the next step and purchase this specialist program.


It is a mistake to consider the book as a collection of software reviews. There is a CD of demo software included, but the book also looks at understanding how the techniques are applied. The authors explore this with interviews with specialist traders and  software developers who use these techniques.

This is an excellent survey of a an area that has been difficult to access in the past. Next time you see an advertisement for an expensive black box trading system based on Gann you should run for this book. It has the answer you need to properly evaluate what is being offered.

 

 

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