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Title: The Ultimate Trading Guide by John R. Hill, George Pruitt, Lundy Hill ISBN: 0-471-38135-7 Publisher: John Wiley & Sons Pub. Date: 15 January, 2000 Format: Hardcover Volumes: 1 List Price(USD): $70.00 |
Average Customer Rating: 4 (17 reviews)
Rating: 3
Summary: Not quite the Ultimate Trading Guide...
Comment: It's not easy for me to review this book. If I were a beginner I don't think i'd go very far with it. To the more experienced trader, he will surely find something to suite his whatever style of trading, but never leading you to the point of re-thinking a trading system... unless you were losing money already!
The book tries too hard to show all there is about trading, but never going deep enough to explain things in detail, hence the fact that it's not for the beginner...
I found some interesting stuff on it, particularly on patterns, but when you get to the end of it, it leaves you with this feeling that something is lacking.
But don't let my words put you off; it's a 'good enough' one if you already know your way around in Technical Analisys and are looking for something more to spice up your creativity to apply to your own trading system.
Rating: 4
Summary: Good, But Far From "Ultimate"
Comment: Don't let the title fool you -- this book is not an ultimate compendium in any way. You won't find anything on candlestick charting nor anything on volume-based indicators. With such large omissions the book doesn't deserve to use the title "Ultimate" -- that said, though, this book is a welcome addition to the trading literature.
If I were to nename the book I would title it "A Good Little Book on Trading." The chapter on 2- and 3-day bar chart patterns has some new ideas and the chapters on evaluating and using mechanical trading systems are very worthwhile. I am impressed by the material on historical backtesting because it addresses the statistical problems and pitfalls that many traders make (too many systems are optimized to produce statistical false positives). The authors backtested a non-optimized system and compared it with dynamic optimization and found optimization underperformed the static version of the test!
In a nutshell, despite it not being "ultimate" this book is "quite good" and will give you fresh insights not seen anywhere else.
Rating: 5
Summary: Actually Pretty Good
Comment: I would normally give this only 4 stars but people have been giving Mike Covells poor book on trend following 5 stars (I would give it 1) so Hill gets 5.
This is a good review of a range of approaches to the market. It also gives you (free) a number of workable systems that you would pay a lot for elsewhere. If you email them with questions they will also answer.
Their work on Commoditity Channel Index is limited but so what. I use CCI possibly in the same way that Howdy does but I dont find that missing one (of so many) ways to make or lose money in the markets is much of an issue. There are lots of great strategies in here ... look up Woodies Club on the net if you want a CCI based one as well.
Good book John.
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Title: Building Winning Trading Systems with TradeStation by George Pruitt, John R. Hill ISBN: 0471215694 Publisher: John Wiley & Sons Pub. Date: 22 November, 2002 List Price(USD): $85.00 |
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Title: Tradings Systems That Work: Building and Evaluating Effective Trading Systems by Thomas Stridsman ISBN: 007135980X Publisher: McGraw-Hill Trade Pub. Date: 20 November, 2000 List Price(USD): $55.00 |
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Title: The Encyclopedia of Trading Strategies by Jeffrey Owen Katz, Donna L. McCormick ISBN: 0070580995 Publisher: McGraw-Hill Trade Pub. Date: 29 February, 2000 List Price(USD): $60.00 |
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Title: High Probability trading by Marcel Link ISBN: 0071381562 Publisher: McGraw-Hill Trade Pub. Date: 17 March, 2003 List Price(USD): $39.95 |
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Title: Trading Systems and Methods by Perry J. Kaufman ISBN: 0471148792 Publisher: John Wiley & Sons Pub. Date: 16 November, 1998 List Price(USD): $95.00 |
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