|
PureBytes Links
Trading Reference Links
|
> I've just ordered Thomas Stridsman's book "Trading Systems That Work".
This is NOT
> a recommendation - I haven't read it yet! But the recommendations on
Amazon and
> TradersLibrary looked good enough for me to buy it...
>
I've read Stridsman's book and will now use it as a basis for system
development. It doesn't
emphasise specific system ideas - rather the approach to a sound development
process. ie
how to visualise and analysis results; how to take TS-produced results and
reformat them for
use in Excel to produce more subjective and intuitive analysis, etc.
Like most it is not too heavy on Money Management. Kaufmans book is
effectively THE
Bible for system developers as it prompts ideas for systems and has great
coverage of
all the necessary topics. But again...doesn't push a specific system idea.
Prings book..."Breaking the Black Box" is great for a starter as it promotes
the KISS principle
which, even for a seasoned professional, is usually the best way to get some
base P&L
happening.
It must be said that systems that have "reasonably" good performance (ie
*modestly* tick over a return) plus sound money management principals and
risk management
strategies will usually suffice for the first year or too of trading before
you start getting too fancy.
Most books will usually promote system ideas. Not many will have good
coverage of
money and risk management strategies. Even less will have a rigorous
performance monitoring
approach ( when do I stop trading this stupid system !! ).
In this context, only the books that I have mentioned would be considered to
be serious ( apologies
to those that I haven't studied yet ). And NO, I don't think Vinces' books
are serious if you
actually want to trade for a living ( and send your kids to a good school
;-).
IMHO
Marty
|