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Trading Chaos: Applying Expert Techniques to Maximize Your Profits (Wiley Finance Editions) Hardcover – 7 Aug 1995


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Product details

  • Hardcover: 288 pages
  • Publisher: John Wiley & Sons (7 Aug 1995)
  • Language: English
  • ISBN-10: 0471119296
  • ISBN-13: 978-0471119296
  • Product Dimensions: 15.7 x 2.6 x 24.3 cm
  • Average Customer Review: 3.6 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Bestsellers Rank: 736,735 in Books (See Top 100 in Books)
  • See Complete Table of Contents

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Product Description

From the Back Cover

TRADING CHAOS APPLYING EXPERT TECHNIQUES TO MAXIMIZE YOUR PROFITS

Chaos theory now stands at the cutting edge of financial decision–making methods. The product of years of scientific investigation into unpredictable phenomena, it has the potential to offer traders entirely new perspectives on the movements of markets—and less risky routes to greater, more consistent profitability. Unlike other books on the subject, Trading Chaos takes chaos analysis out of the realm of the abstract and makes complex concepts easy to understand and use. It offers you the most practical, comprehensive guide available to applying chaos theory to the real world of trading and investing.

In this breakthrough work, author Bill Williams gives you the benefit of his unique qualifications: 35 years of successful trading and a PhD in psychology. The instructional techniques used in Trading Chaos have been tested and refined in the workshops, seminars, and private tutoring sessions Dr. Williams has conducted in 12 different countries.

Designed for all traders—from beginner to experienced professional—Trading Chaos introduces you to the financial applications of chaos in five graduated stages, starting with a clear, nontechnical introduction (Level One: The Novice Trader) all the way to chart analysis, fractals, Elliott wave, and advanced nonlinear dynamics (Level Five: The Expert Trader).

Trading Chaos probes depths of human and economic behavior that other books do not even mention, including:

  • A detailed examination of the underlying structure of the market
  • How individual belief systems affect the way we trade
  • How to determine "what the market wants"
  • Most importantly—"how to want what the market wants"

Numerous charts, trading models, analysis spreadsheets, and review questions reinforce the key concepts and help insure full comprehension of the material.

Regardless of your current degree of expertise, Trading Chaos will take you to new levels of trading confidence and increased profit.

This practical guide to the powerful tools of chaos theory will help you make better, more profitable trades

"Bill Williams brings a unique background and experience to the commodity trading world. His approach to becoming a successful trader includes many fresh and fascinating concepts for traders of all experience levels."—Bruce Babcock Editor, Commodity Traders Consumer Report

"Bill Williams has demystified the Elliott Wave. His technical approach is an innovative and effective way to trade markets for novice and expert traders alike."—Bob Koppel Skylane Trading Group

"Trading Chaos by Bill Williams is an excellent guide to profiting from a market which is nonlinear in structure. The book is divided into logical levels of trading techniques useful to the novice and expert trader. I was genuinely surprised that the expert can still learn refreshingly new techniques at each level presented."—Timothy C. Slater Managing Director of Dow Jones Telerate Seminars

Trading Chaos takes chaos theory out of the abstract realm and into the real world of practical investment decision–making. Using the techniques in this remarkable book, you will uncover the hidden patterns of what appear to be the random, unpredictable movements of the commodity, futures, and options markets. Regardless of your current level of experience, expert commodity trader and trainer Bill Williams will give you the skills and insights to move to levels of trading ability you would not have imagined possible.

Clear, practical, and nontechnical—Unlike other books on chaos theory, Trading Chaos is designed to be easy to understand and use

Unique organizational format—Introduces the reader to the financial applications of chaos in five graduated stages, from Novice to Expert Trader

Expert advice on avoiding common psychological traps and pitfalls—Including such self–limiting afflictions as the "paralysis of analysis," "opinionitis," and the dangers of trading on individual belief systems

A wealth of supplementary materials—Charts, trading models, trade plans, analysis spreadsheets, and trading diaries illustrate and reinforce key concepts

About the Author

BILL WILLIAMS, PhD, is a full–time commodity trader. He is president of Profitunity Trading Group which holds workshops and training sessions on commodity trading in the United States and abroad.

Inside This Book (Learn More)
First Sentence
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Customer Reviews

3.6 out of 5 stars

Most Helpful Customer Reviews

1 of 1 people found the following review helpful By A Customer on 30 July 1998
Format: Hardcover
Trading Chaos has as much to do with the Elliott Wave Theory as it does encouraging traders to approach the markets with both discipline and a view to developing (or trading within) your personal style. The section for the Novice Trader, showing what could be gleaned from a simple OHLC and volume chart, was eye-opening, even though it was strikingly obvious and logical once Williams stated it.
However, as he penetrates the mysteries of the Elliott Wave and offers his technical indicators for it, he faces the problem of explaining things with terms that aren't (and can't conveniently be) introduced till later in the chapter: to understand Wave 1, you need to know about Wave 5 and fractals (because of the chaotic nature of the Elliott Wave), but Wave 5 isn't discussed in detail until waves 2 to 4 are covered, and fractals are covered in the following chapter. His definition for a "fractal stop" took me a long time to figure out--in fact, the chapter on fractal! s was the weak link in the chain: hard for me to grasp, and written in an almost point-form style. Nonetheless, I'm not too bright, so I imagine others will apprehend it faster than I did. But, if you can get through those middle chapters, the closing chapters are an easy read. Ultimately, Williams boils the psychology of the Elliott Wave down to a set of rather simple, purely technical indicators, which, according to Williams, will permit you to analyse any market within 10 seconds of viewing the chart.
Despite Williams's claims that his indicators work well for all time frames (he does suggest it is a bit cumbersome for intraday trading), it seems to me that you'd want a data service and charting software to at least look at intraday data to make the right calls.
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1 of 1 people found the following review helpful By A Customer on 24 Jun 1999
Format: Hardcover
The Chapter on how he uses elliot waves to trade, plus his use of his MFI indicator, along with chapters on the behavioural aspects on trading makes this book a worthwhile buy.
I can definitely say this book has definitely brought my trading to a higher level.
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Format: Hardcover
75 % OF THIS BOOK SHOULD BE REQUIRED READING FOR ANY TRADER. IT IS WELL WORTH FINDING A COPY. HE NOT ONLY EXPLAINS ELLIOTT WAVE THEORY IN A STRAIGHTFORWARD MANNER BUT THEN ACTUALLY GOES ON TO USE ELLIOTT WAVE THEORY TO TRADE THE MARKETS.
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Format: Hardcover
It is different and telling what I have experienced. Chaos is the main structure of the market and without understandig that structure you will not be the true winners.
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