- Tapa dura: 192 páginas
- Editor: John Wiley & Sons Inc; Edición: 1 (15 de marzo de 2016)
- Colección: Wiley Trading
- Idioma: Inglés
- ISBN-10: 1119224748
- ISBN-13: 978-1119224747
- Valoración media de los clientes: Sé el primero en opinar sobre este producto
- Clasificación en los más vendidos de Amazon: nº219.010 en Libros en idiomas extranjeros (Ver el Top 100 en Libros en idiomas extranjeros)
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A Guide to Creating a Successful Algorithmic Trading Strategy (Wiley Trading) (Inglés) Tapa dura – 15 mar 2016
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Turn insight into profit with guru guidance toward successful algorithmic trading A Guide to Creating a Successful Algorithmic Trading Strategy provides the latest strategies from an industry guru to show you how to build your own system from the ground up. If you're looking to develop a successful career in algorithmic trading, this book has you covered from idea to execution as you learn to develop a trader's insight and turn it into profitable strategy. You'll discover your trading personality and use it as a jumping-off point to create the ideal algo system that works the way you work, so you can achieve your goals faster. Coverage includes learning to recognize opportunities and identify a sound premise, and detailed discussion on seasonal patterns, interest rate-based trends, volatility, weekly and monthly patterns, the 3-day cycle, and much more with an emphasis on trading as the best teacher. By actually making trades, you concentrate your attention on the market, absorb the effects on your money, and quickly resolve problems that impact profits. Algorithmic trading began as a "ridiculous" concept in the 1970s, then became an "unfair advantage" as it evolved into the lynchpin of a successful trading strategy. This book gives you the background you need to effectively reap the benefits of this important trading method. * Navigate confusing markets * Find the right trades and make them * Build a successful algo trading system * Turn insights into profitable strategies Algorithmic trading strategies are everywhere, but they're not all equally valuable. It's far too easy to fall for something that worked brilliantly in the past, but with little hope of working in the future. A Guide to Creating a Successful Algorithmic Trading Strategy shows you how to choose the best, leave the rest, and make more money from your trades.
Nota de la solapa
THE NO-FRILLS APPROACH TO BUILDING SUCCESSFUL ALGORITHMIC TRADING SYSTEMS
When Perry Kaufman started creating automated systems to trade in the early 1970s, the very idea was demeaned by professional traders as "ridiculous." Now, high-frequency trading is attacked for its unfair advantage that "steals money from the ordinary investor." In A Guide to Creating a Successful Algorithmic Trading Strategy, Perry puts the power in your hands by pulling back the curtain on algorithmic trading.
Whether you're a professional trader or money manager looking to perfect your own automated trading systemor an individual investor who wants financial control with today's technological advantages, this compact guide gives you a sophisticated approach to building successful algo trading systems in a user-friendly, how-to format. More than merely a step-by-step book to backtesting, this expert guide culls the author's vast experience over forty years, through all types of markets, to illustrate why achieving success in trading is not about buying and selling at a profit, but fully hinges on developing the right trades and then managing their risk. The proven guidelines inside for building a reliable trading system from the ground up give you the necessary theory and historical perspective to develop your system with confidence and the technical know-how to fine-tune it to your specific parameters and risk. Keep the expertise sought after the world over at your fingertips to:
- Include the right depth of rules in your algorithms
- Avoid common traps at each step of development and testing
- Know exactly when your algo system is ready to stop paper trading and make real profits
A cornerstone principle of this succinct guidebook is simplicity, and from the underlying trading best practices to designing the systems themselves, a straightforward approach is preferred and proven to win the day. Many algorithmic systems fail when they are finally launched into the market, but A Guide to Creating a Successful Algorithmic Trading Strategy will show you the pitfalls and process for greatly improving your ability to succeed. Once you've read this book you'll want to reread it again and again until you've made it part of your own way of working.
From developing insights as a trader and turning those insights into profitable strategies all the way to the critical realities of trading for a livingthis masterpiece guide boils down more than four decades of high-level experience into a clear framework that lets you compete with the experts.Ver Descripción del producto
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Secondly there is nothing specific about how to create an algorithmic trading system. The author seems to think any idea for a trade is an algorithm. There is not a single line of code, math formula, or mention of programming languages in this book. It seems most of the trades he is suggesting are making up some rules by hand and following those rules specifically.
Half the book is memories the author has from his trading days on strategies that will obviously not work anymore. In one case he remembers being at the pit of the Chicago Mercantile Exchange and was having to yell his order through his broker to get the order filled.
Many times the author will detail a "strategy" like following a breakout. This means buying if the stock reaches a new high, or selling short if the stock reaches a new low. He will say this, then give no details about implementing an algorithm, except to say you should stick to the rules if you can.
Sections on risk were laughably elementary. To give an example there is one subsection called "Stabilizing the risk" (pg. 152). The author states: "Risk control must be everywhere in your trading system. The two most important places are at the very start of each trade and when all of your markets are combined into a portfolio."
Later to conclude this same section on risk he says: "The objective is to increase leverage when the market is quiet and often producing profits, and decrease when there is too much risk, where or not there are profits. We want to avoid risk because what is good today can be ugly tomorrow."
There are tons of these blanket generalities such as suggesting the system should reduce risk but there is nothing specific at all. He even says he does not want to give specific details because that would make it too easy.
At the end of the book, he again mentions the book is so short because he wants you to read it all. I found it to be an insult to the reader the author didn't think people would be able to read more than 70 pages of his writing. It's very obvious this author has nothing to say, so they made the dimensions of the book tiny so it would appear bigger. The price is ridiculous as well at $40 for this.
Lastly, there is not a single graph showing any trading results this author has had. There's not a single mention of any programming language like Python, R, or MATLAB. And there's pretty much no even a single algorithm in the book, just generalities about the markets and some memories the author from trading decades ago.
Indeed, some of his remarks - ie on trading details, what works and what doesn't, are worth of paying attention to, but it is the other story, a story of a trader, sharing his memories. And it is not you were lookinig for by purchasing this book.
It is a rare case I give three stars, as I expected to meet more deepness and focus from this book.