The New Technical Trader: Boost Your Profit by Plugging into the Latest Indicators Wiley Finance: Amazon.co.uk: Tushar S. Chande, Stanley Kroll: Books

From the Inside Flap

The New Technical Trader You watch the market challenge your position with every tick. But are your chosen technical indicators helping or hindering your performance? Do they cope responsively with the glut of fast–changing electronic data? Are they consistently generating the signals you need to make profitable, real–time life and death decisions? Do they dovetail into a trading system based on objective decision making and prudent risk control? Are your risk control strategies proactive, letting you manage your trades aggressively? If not, turn to The New Technical Trader for a new generation of robust indicators designed to provide a valuable edge in today’s markets. In this leading–edge guide, top analyst Tushar Chande and supertrader Stanley Kroll show you their latest, most promising methods of price analysis with the classic tactics and strategies of risk control and money management. The result is a personalized, winning trading system that adjusts automatically to market volatility, generates reliable entry and exit signals, shrewdly estimates risk on new and current positions, and promotes superior portfolio selection. Turn to The New Technical Trader to redefine the basic building blocks of a typical trading system: from moving averages, to momentum oscillators; from price patterns to profitability templates. Learn how to transform the components of popular, static technical indicators—relative strength index, momentum, stochastic oscillator, and more—into dynamic price oscillators that are nimbler than their static predecessors. Detailed tutorials and profuse illustrations from real–life commodity, currency, and stock market trading scenarios offer specific rules for testing these oscillators, so you can readily adapt them to your trading style. Discover how to:

Develop price forecasts for the next trading day, and beyond. Master the essentials of regression analysis to quantify trend strength, detect early warning signs of potential trend changes, and promote a more objective, less emotional approach to trading.
Switch to dynamic moving averages that adjust their effective length based on market momentum or volatility, so you can set unique stops, develop trading bands for a breakout trading system, and pinpoint resistance or support.
Improve identification of candlestick patterns. With Qstick, you can quantify both the internal momentum and shadows, and produce objective numbers to look at rather than a pattern to ponder.
Exploit powerful new indicators for risk control. You’ll find the hottest new indicators for: creating price–time templates to close out losers and cash out of fast rising winners, learning how to aggressively manage open trades using the maximum favorable excursion, performing what–if simulations with the projected price range to prepare for any market eventuality, and using volatility–based stops to get you in or take you out.

In today’s fiercely competitive futures and financial markets, your success depends on mastering fast–changing market information and using it to make swift, smart, strategic trading and investment decisions. Designed to help you handle the good days, and the bad, The New Technical Trader is the proactive, single source guide for playing the winning percentages and reaping bigger trading profits with minimum risk.

About the Author

About the authors TUSHAR S. CHANDE is a scientist, inventor, and, since 1987, an innovative technical analyst and trading system developer. He has a PhD in engineering from the University of Illinois, and an MBA from the University of Pittsburgh. He has published many scientific papers in engineering journals, and holds nine U.S. patents for creative solutions to flexible manufacturing problems using high–power lasers and optical fibers. He is a prolific contributing editor of the trader’s magazine, Technical Analysis of Stocks and Commodities. He is in the process of setting up his own money management company. STANLEY KROLL is one of the most respected individuals in the futures industry and was prominently featured in the bestselling The Money Masters, as one of the nine leading global money managers. A five–year veteran of the Financial World’s commodity column, he is the author of The Professional Commodity Trader and the classic Kroll on Futures Trading Strategy. His most recent book is The Business One Guide to the Futures Markets, written with Michael J. Paulenoff. He is currently with Lippo Futures Ltd. in Hong Kong.

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4 of 4 people found the following review helpful

Nice introduction to intermediate-level technical analysis 29 Jun 1998

By A Customer

Format:Hardcover

Discusses interesting twists on traditional indicators, such as Stochastic RSI which combines concepts from the Stochastic and the RSI, or Qstick, which quantifies the candlestick approach. If you're the math-innovative-type, this book can really stimulate your imagination to further develop your own indicators. The presentation, though clear in most parts, contains some vague paragraphs which make no sense without prior background in the material. I wouldn't recommend this as a first book on technical analysis (if that's what you're looking for, try Technical Analysis from A to Z by Achelis). However, once past the basics, this is what you need if you're planning to dig deeper and get more serious. I warn you though that all the colorful promises (exemplified by only one example in most cases) as to how much better these indicators are may not hold in general. However, they do contain some very important concepts needed to refine the standard technical indicators and can serve as a springboard for new ideas.

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3 of 3 people found the following review helpful

The Latest Indicators Are Not Necessarily The Best 14 Aug 1999

This is a decent book. However, I really do not see what great advantage StochRSI and VHF can present the prospective reader. Both of these indicators are very jumpy, so you do get a headstart but at what cost? Slower indicators on the other hand get you in later usually towards the middle or the end of a move. Each has it's own advantage and disadvantage. Though it is important to remember that consistency is what works in the long run. I will say that Mr.Chande seems like a respectable writer. This is much more than I can say for the vast majority of authors out there. One last thing, trading is not about having the latest indicators. Trading consists of three equally important parts; methodology, pyschology and risk managment. If you are missing one you will surely fail over the long run. This book consists primarily of methodology but it is not too different from most of the material already out there.

1 of 4 people found the following review helpful

This is an excellent book regarding indicators 2 Mar 1999

I would be most grateful if Amazon can forward this message to the author:

Your book was just great. However, as I do not know how to write the formula by my Supercharts 4.0 (end of day), I just felt: I've got such a powerful weapon but what a pretty that I don't know how to operate!

So, I wonder if you could kind enough to let me know the formula (by Supercharts) of all the indicators introduced in your book.

Best regards! Looking forward to your reply soon. Thank you so much!

Omni

(Amazon doesn't need to put this message in the review)