Readers reviews of
Technical Trading Software
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This is the
book you need if you are interested in mechanical and systematic trading systems. This isnt
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.
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.
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.
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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