Trade with the Odds, + Website: How To Construct Market-Beating Trading Systems
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Trade with the Odds, + Website: How To Construct Market-Beating Trading Systems

by Anthony Trongone
     
 

Trading is all about managing probabilities. But when the variables keep changing at a breakneck pace, as they do in today's mercurial markets, managing probabilities can be like herding cats. Which is why, as Dr. Anthony Trongone avers in this refreshingly unconventional guide to trading (and beating) the markets, the quest for the perfect trading system is

Overview

Trading is all about managing probabilities. But when the variables keep changing at a breakneck pace, as they do in today's mercurial markets, managing probabilities can be like herding cats. Which is why, as Dr. Anthony Trongone avers in this refreshingly unconventional guide to trading (and beating) the markets, the quest for the perfect trading system is, at best, a sucker's bet.

Instead of chasing after the impossible, he explains, you need to focus your energies on continually evolving and fine-tuning your analytical and trading skills so you can keep up with the unrelenting change in the financial markets. You should be ever on the lookout for fresh ways to calculate the odds and play the percentages. And you must continually test and monitor your trading system and the raw market data that drive it—which will give you a commanding edge over traders who aren't willing to get their hands dirty digging into the data.

Trongone doesn't just talk the talk, he walks the walk, arming you with powerful analytical tools—tools that you can adapt to your trading style, risk tolerance, emotional makeup, and time constraints—that help keep you focused, primed, and ready to pull the trigger when opportunity looms in your crosshairs and the moment is right.

For example, you'll learn how to transform Excel into a highly reliable tool for defining market patterns and for monitoring and measuring all your trading system's major components as well as its overall performance. And, on a companion website, you'll find time-tested proprietary applications for statistically analyzing current market conditions and identifying tradable patterns based on the time-of-day, inter-market relationships, and other key factors.

The approach you'll learn about in this book is based on the conviction that constant innovation is the key to trading success. Adapt or die is evolution's motto, and those who lack the will or the creative flexibility to adapt, who rigidly adhere to the same one or two technical indicators and spend their time chewing over static data, or who are unwilling to abandon their grail quest for the perfect system, are doomed to go the way of the dinosaur.

Product Details

ISBN-13:
9781118164341
Publisher:
Wiley
Publication date:
11/28/2012
Series:
Bloomberg Financial Series, #185
Pages:
336
Product dimensions:
6.00(w) x 9.10(h) x 1.20(d)

Meet the Author

Dr. Anthony Trongone earned his PhD from NYU in 1987. He is a Certified Financial Planner as well as a Commodity Trading Advisor. He is one of the Master Educators for eSignal and has written over sixty articles for various trading publications, including twenty-three articles for Technical Analysis of Stocks & Commodities. Besides his extensive trading experience that includes trading equity futures in the commodity pits, his twenty-five years teaching graduate courses in finance, psychology, and quantitative methods in the United States as well as many cities in China and Taiwan, has given him a dynamic perspective on trading the equity markets. Trongone is an intraday trader who attributes much of his success to consistently playing the percentages along with making trading decisions without the emotional distractions, which often hamper our ability to achieve mastery over the markets.

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