Mechanical Trading Systems

Pairing Trader Psychology with Technical Analysis
2005 by Richard L. Weissman
John Wiley & Sons, Inc

Introduction

Critics of books on trading system development suggest that no one would give away a successful trading system and that if a profitable system were given away, it would no longer work since everyone would be using it. Such criticism suggests a naivete regarding market dynamics and trader psychology. This book argues that the primary reason for failure as a speculator is a lack of disciplined adherence to successful trading and price risk management strategies as opposed to an inability to discover profitable trading methodologies. The text shows that the development of rock-solid discipline is among the most challenging endeavors to which a trader can aspire. If this were not the case, anyone could master discipline and there would be no financial rewards associated with successful speculation.

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