New Concepts in Technical Trading Systems [Hardback]by J. Welles Wilder
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Description of New Concepts in Technical Trading SystemsNew Concepts in Technical Trading Systems presents six original and definitive technical trading systems plus the renowned Relative Strength Index which is charted daily for each market by most chart services in the US.
The book is based on the premise that no single technical trading system makes consistent profits in both strong directional markets and non-directional congestion markets. The answer presented in this book is the Directional Movement Index which measures on a scale of 0 and 100 how much a particular market is trending. The Directional Movement system defines the equilibrium point and keeps the trades in the direction of the trend.
The concepts of Directional Movement, Volatility, Momentum, Relative Strength and Commodity Selection are defined and explained. The concepts are then expanded with reason and logic into basic definitive trading systems which give exact entry and exit points for trading the markets.
Fully illustrated with how-to diagrams and charts, this book will be an invaluable asset to any market trader.
Press and Industry Reviews'The premier technical trader publishing his work today. For those of you who have seen all the conventional systems, this book is the place to start.'
Forbes Magazine (1980)
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Contents of New Concepts in Technical Trading SystemsIntroduction
1. Basics: the Missing Part of Most Trading Plans
2. The Parabolic System
3. The Volatility Index and System
4. The Directional Concept and System
5. The Momentum Concept and Trade Balance System
6. The Relative Strength Index
7. The Reaction Trend System
8. The Swing Index and System
9. The Commodity Selection Index
10. Capital Management
Glossary of Terms
Printed Copies of Each Work Sheet
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