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New Concepts in Technical Trading Systems
ISBN: 0894590278     Date Published: 1978-06     Author(s): J. Welles Wilder
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Hardcover
Trend Research
141 Pages
 
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Last Update:
06/20/2013 01:34:28
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113 of 115 People found the following review helpful.

An original work of enduring value from a true innovator, November 30, 2002 ByErik C. Olson (Crystal Lake, IL USA) - See all my reviews Amazon Verified Purchase(What's this?) This review is from: New Concepts in Technical Trading Systems (Hardcover) Parabolic SAR, Relative Strength Index, Directional Movement Index (ADX) -- developing even just one of these would constitute an important contribution to technical analysis. Yet all of these popularly followed indicators and more were the work of this one man and were first popularized in this single 1978 classic. But this book merits more than mere admiration. For traders looking for carefully presented formulas, clear discussions of their logic, and helpful discussion of indicators' interpretation straight from the horse's mouth, this book is a great asset. I would acknowledge that for discretionary traders who do little if any backtesting or who pay no more than scant attention to indicators other than price, volume, and maybe some moving averages, this book probably won't hit your hot button.But as a systems trader, I'm especially appreciative, since nowhere have I found a better or more authoritative discussion of ADX and ADXR, two especially potent indicators whose...
 
31 of 35 People found the following review helpful.

A classic, July 5, 2003 By A Customer This review is from: New Concepts in Technical Trading Systems (Hardcover) You'd have to appreciate that nearly every method or tool in this book is almost common knowledge. RSI, ADX, DMI, Parabolic, volatility breakouts, pivot point reversals and so forth are all commonly used nowadays. However, back in 1978 when it was hand calculated and charted.. Wilder probably had no idea how revolutionary his work has become.
 
13 of 14 People found the following review helpful.

New Concepts explains it perfectly, March 16, 2007 ByJ. Chesnulevich (Hudson, NH) - See all my reviews Amazon Verified Purchase(What's this?) This review is from: New Concepts in Technical Trading Systems (Hardcover) I bought this book mostly for the Directional Movement System. I have been trying to figure out the best way to use this system for some time, and could not get a handle on how to effectively trade with it. I found the explanation of the way the system is constructed to be very helpful. There is not a lot of text explaining how to use the different systems. but,if you understand the concept of what is being measured and how the indicator got there, the rules of applying the system is quite easy. Only time will tell if I am on the right track, but today I feel more confident when making a decision on when to take a position.
 
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