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Book: New Concepts in Technical Trading Systems :: Book
Date: Thursday, 08 January, 2009 :: 21:25
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New Concepts in Technical Trading Systems
List Price: USD $65.00
from USD $48.46
Product Group: book
Manufacturer: Trend Research
Studio: Trend Research
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Reviews:
Average Customer Review: 
Summary: Best sell-by date has passed
Date: 2008-12-04 - 
Comment: This book contains the indicators that has made Wilder famous; RSI, ADX, parabolic stops, and a few others. Wilder is almost the "father of the indicator" so this book is a classic. The book also contains tables and columns so that you can calculate the indicators by hand. Remember this book was published before the PC.
Today you can get these indicators described in most textbooks on technical analysis and you don't need to do hand-calculations, so I don't see a need to also buy this book. If you want the original source go ahead and by this book. Otherwise give this book a pass.
I have written several short reviews on trading books. The best way is to compare the score on the books I've read. Many reviews on amazon.com are just glorious 5 star reviews. I use all five categories; sorry but everything isn't "great". Books rated 5 are very good. Books rated 4 are good solid books well worth reading. Books rated 3 can be bought by some people who read a lot or have very specific needs. Books rated 1 or 2 I would not recommend buying or reading. Naturally all in my humble opinion.
1 of 3 people found the following review helpful:
Summary: Shhhh! Please don't tell anyone!
Date: 2008-09-16 - 
Comment: I was first introduced to this book in 1983. I didn't merely read this book, I absorbed it.
I learned that doing the mathematics was only the beginning. With alarming ease, you could actually "feel" the market and it's strength or weaknesses long before it was being reported on CNN and CNBC.
ADX and DMI are now part of my everyday breathing and eating.
I really can't describe how much $$$ it has saved me and how much $$$ I've made from learning about Welles Wilder.
But please, let's just keep it a secret amongst friends.
Don't tell anyone about this book and if someone asks, you've only heard of Welles Wilder from gypsy fortune tellers and, besides, he was committed to the looney bin years ago.
And if anyone is bright enough to suspect you're not quite telling them the truth, just lie!
2 of 2 people found the following review helpful:
Summary: New Concepts in Technical Trading Systems
Date: 2008-07-25 -
Comment: I have been purchasing books on trading for many years and recently it was suggested that I could find more detail on the RSI in Wilder's book so I purchased it. The book is dated - basically written before PCs were available for charting the indicator so much of the book goes through the manual calculation of ADX and RSI indicators which is fine. What is suprising is the lack of depth in setting the parameters which is understandable since all of the work in the book was manually calculated. Several "system" approaches are described but in modern terms I don't see them as very effective. Basically the book served the purpose of describing the indicators but in reflection the book is much to dated to recommend. You can find the same info on the Internet for free at some trader's website with some searching.
Summary: Even after 30 years, it still has value...
Date: 2008-02-10 - 
Comment: As other reviewers have pointed out, many of the techniques first described in New Concept in Technical Trading have filtered into common practice, as well as most charting software.
In spite of its influence, many of Welles Wilder's ideas outlined in this book still haven't been discussed much. This lack of discussion is by no means a reflection of their usefulness.
For example, how often do you see systems like the reaction trend system, that has a default setting of trading short term swings in counter trend fashion, but also has the capacity to shift gears, and follow the trend, should one arise? As the markets have become tougher, having a system like this (in reality, 2 systems in 1), is essential.
Or how about the swing index, which provides an alternative formula and chart to objectively identify the concept of a price "swing", useful in finding appropriate places to set stops?
This is a great book for the technician interested in developing a system.
Summary: JUST ONE AND BEST
Date: 2007-12-21 -
Comment: DMS is the best system I ever known and works well for me
Thank you Mr Wilder.
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