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The Mathematics of Technical Analysis Applying Statistics to Trading Stocks, Options and Futures
ISBN: 0595012078     Date Published: 2000-08-10     Author(s): Clifford Sherry
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Paperback
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344 Pages
 
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06/20/2013 01:30:43
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Editorial Review - Book Description:

The Mathematics of Technical Analysis by Clifford J. Sherry and Jason W. Sherry promises to revolutionize how we think about the markets. In this ground-breaking work, the authors challenge the random walk hypothesis – the idea that there is neither rhyme nor reason to the markets. This far-reaching text describes a series of simple but statistically rigorous methods for analyzing time series. Originally developed to study information processing in the nervous system, they have been modified to analyze economically important time series. These statistical techniques allow traders to determine if a time series is stationary/non-stationary, independent/dependent, and/or random/non-random. These statistical questions are vital for traders because if a time series is non-stationary, independent, and random, it is unlikely that any analysis method, technical or fundamental, will work because the underlying rules that generate the time series change from time to time without warning. However, if a time series is stationary, dependent and non-random, the underlying rules generating prices demonstrate a consistency that will allow analysts to identify low risk/high reward trades.
 
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Total Reviews: (4)
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20 of 22 People found the following review helpful.

It is more like a draft than a serious book, February 21, 2003 By A Customer This review is from: The Mathematics of Technical Analysis: Applying Statistics to Trading Stocks, Options and Futures (Paperback) Books which teach trade-methodology never give you any real result. They will show you some successful examples but never tell you what is the real chance of their systems. So you can learn different kinds of trading systems from those books but you can not do any real comparison for them. I have bought the Sherry's book with the hope that I can learn some analysis for real results. I was dissapointed. It is not difficult to understand the math in the book if you have college degree. However, there is not sufficient discussion on connecting probability/statistic theory to financial market.
 
19 of 22 People found the following review helpful.

Serious misunderstandings and outright errors, January 12, 2007 ByA. Grimes - See all my reviews Amazon Verified Purchase(What's this?) This review is from: The Mathematics of Technical Analysis: Applying Statistics to Trading Stocks, Options and Futures (Paperback) I am a professional trader, have an MBA from a major business school, and a decent amount of Finance PhD coursework, so I do know a bit of what I'm talking about. This is one of the worst trading books I have seen. It presents extremely simple time-series analysis, using methods the author developed in some cases (and mis-applied from existing techniques in other cases). The problem is, the math and tools to do these analysis already exists and is implemented in every statistical software available. If you need more proof of this author's misunderstanding, turn to the last chapter where he discusses portfolio theory. You would think someone writing a book on stats would understand this, but he makes a fundamental error that no one who ever took a single finance class could make: He claims that "Beta-type risk" (market risk) can be reduced by holding a diversified portfolio if the correlations are negative!! This is absolutely wrong on two fronts -- Beta risk is...
 
1 of 1 People found the following review helpful.

it's only a practice book, November 13, 2011 Byonline_trading - See all my reviews Amazon Verified Purchase(What's this?) This review is from: The Mathematics of Technical Analysis: Applying Statistics to Trading Stocks, Options and Futures (Hardcover) It is only a practice book. Careful mathematic foundation is missing. Maybe technics work, I don't know, because I have no proof.
 
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