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Mechanical Trading Systems: Pairing Trader Psychology with Technical Analysis

Mechanical Trading Systems examines the development process for choosing and using mechanical trading systems in conjunction with trader psychology.

This book discusses the advantages and disadvantages of mechanical trading systems; the dangers in system development and how to avoid them; the optimal methods for back-testing trading systems; position sizing and other risk quantification tools; and methods of improving rates of return on investments without significantly increasing risk.

Most importantly, through a detailed examination of various types of unsuccessful trader personality traits (e.g., fearfulness, greed, and impatience), the book recommends different types of trading systems for a diverse array of trader types.

Some of the other issues discussed within these pages include:

  • Why mathematical technical analysis is anideal building block in the development of mechanical trading systems
  • How various flaws in trader psychology—fearfulness, impatience, greed, and lack of discipline—can be overcome
  • The pros and cons of various traditional price risk management methods, such as stop loss and volumetric price risk management
  • The psychological aspects of price risk management and how utilization of mechanical trading systems can aid in fostering confidence during drawdowns
  • How your knowledge and experience can be utilized within the framework of a mechanical trading system

Mechanical Trading Systems offers a wide variety of flexible trading systems that combine sophisticated technical analysis with trading psychology theory. If you plan on improving your trading skills, this comprehensive resource can help you succeed.

Richard L. Weissman (Port Richey, FL) has seventeen years' experience as a trader and developer of trading systems. He currently provides independent consultation an d training services to traders and risk management professionals in the areas of technical analysis, risk management, and trader psychology.

You Will Receive An Email To Download This Book Immediately After Your Purchase.