Mechanical Trading Systems by Richard L. Weissman
Mechanical Trading Systems — a real marvel in the collection of trading books, it can reveal the already working trading strategies and the working methods of creating such strategies. If you think that the mechanical trading (the one that is based solely on the technical analysis) can be profitable on Forex, this book will show you the most simple and the most sophisticated methods that can be applied to develop your own mechanical trading system. The author of this book acknowledges that the strategy or the system alone is not enough, but he applies a lot of passion to teach the readers of this part of trader’s success. If your read this book, you’ll be able to distinguish a bad trading strategy from the good one; you will learn how to
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Herty:
The book is a very average effort. In the present day, a trading system based on technical indicators can easily be made and it can be used to get the highest profit.
17 November 2010, 8:20 amIf I had my way, I would like a book which is more thorough with the methods and goes to a higher level but it may turn out to be expensive.
Boris:
Richard Weissman has written this book in a very pleasant way and it is not just one of those manuals which teach you how to get rich overnight. He understands the importance of trading in a stable way and managing your risks as well. He distinguishes between trading and making an investment. He works to provide the reader with a method of gaining the most out of short-term trading and break outs. He does point out that the process he employs while trading is different from the one given in the book, which is very pointless of him. He asks every trader to build his own strategy of survival in the market which should entirely depend on your style, capability and hunger. Weissman does not give any specific methodology and points out that that no such plan will always be applicable and with experience, you will learn how to change your strategy with the changing market.
17 November 2010, 8:20 amEvery trader who wants to learn about the risk-managing aspect of trading and get better should grab this book with both hands.
orion_d12:
The reader looking for a manual teaching you how to get from a dollar to a thousand will never really find what he is looking for. He should not pick up this book.
17 November 2010, 8:20 amAppreciably, the author hasn’t made any false claims regarding what reading the book will do for you. It does, however, teach how to define a method that will suit your personal style of trading. To do that, the author gives his readers the resources to do so and also gives some techniques which are applicable to all trading systems.
The author very honorably, steers clear of any controversy involving any other trader or the market crash of 1987. It just does what it says it will, teaches you how to develop your own custom trading technique.