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Trading Chaos Applying Expert Techniques to Maximize Your Profits (A Marketplace Book)
ISBN: 0471119296     Date Published: 1995-06-30     Author(s): Bill M. Williams
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Editorial Review - Book Description:

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
Customer Review:
Total Reviews: (20)
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57 of 59 People found the following review helpful.

Thought Stimulating, but no Chaos found, November 18, 2000 ByWan (Shanghai, Hong Kong, U.S.) - See all my reviews This review is from: Trading Chaos: Applying Expert Techniques to Maximize Your Profits (A Marketplace Book) (Hardcover) This is a good book which makes you rethink about your current trading system if you are still using RSI, moving averages or market profile. But this is not too much about "Chaos".The author spent tremendous amount of time explaining why the technical indicators used nowadays are useless. He also quoted a very good example classifying the errors that typical traders usually commit : the swinging bell theory -- We cut losses and later found our original prediction being correct. Then we try to "solve the problem" by allowing a larger cut-loss. However, next time when we make a large loss by using the larger cut-loss, we again try to "solve the problem" by reducing the allowed cut-loss again. This pattern is recurring and just like a swinging bell. The writer did a very good job explaining the drawbacks of technical indicators nowadays and why traders lose.After reading the first half of the book, I was almost persuaded not to use any technical...
24 of 27 People found the following review helpful.

Title is misleading., May 3, 1999 By A Customer This review is from: Trading Chaos: Applying Expert Techniques to Maximize Your Profits (A Marketplace Book) (Hardcover) The title of the book is misleading. The author in effect says "financial markets behave in a fractal/chaotic manner, therefore the markets are not efficient, and therefore technical analysis works and here's my trading system." The connection between fractal/chaos theory and the author's trading system is absurd. The discussion of fractal/chaos theory is cursory and infantile. The remainder of the book is the author's trading system based on technical analysis. It appears the author is simply trying to capitalize on the buzzwords "fractal" and "chaos".If you want a thorough review of fractal/chaos theory, I really recommend Edgar Peters' books or Trippi's book.Now, with that said, the author presents an interesting trading system based on BEHAVIORAL aspects of the market. The author relates the lessons of trading that every beginning trader should know. From a BEHAVIORAL finance standpoint, the book is great and I would recommend...
9 of 9 People found the following review helpful.

Donate your money to charity, March 25, 2003 ByMr. H. W. Tang "Tony" (Hong Kong) - See all my reviews This review is from: Trading Chaos: Applying Expert Techniques to Maximize Your Profits (A Marketplace Book) (Hardcover) In the first few chapters, he sounds so attractive, after that, you will find the author using new technical analysis words to describe the breakthrough of the resistance/support and claims this a new concept/idea, but he saying nothing on the book and if you are using his method to trade, you are not far from bankruptcy. Eventually, you waste your money, then why don't send cheque to charities.
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