| Systems Trading for Spread Betting |  |  |  |
Gary Ford (286 pages, Harriman House, ISBN 978-1905641-73-4).
This book is a beginner’s guide to developing a trading system. While the title suggests it is for spread betters, in reality all would-be system traders would learn from this book.
It is very well written, with examples that are accompanied by excellent screen shots and diagrams. The author starts with the basics, discussing topics such as trading resources, why a trader might want to develop a system, sources of data, software and money management.
The chapters are well structured and the book progresses in a logical order.
The author does not teach any specific trading strategy, which I think enhances the usefulness of the book. A variety of system examples are used or explained and the author also describes several different types of trade entry and exit. He leaves it to the reader to decide how he or she wishes to trade. The author explains both the pros and the cons associated with most examples.
Even as a discretionary trader, I found this book an interesting read. Traders with existing systems may find it slightly too basic, but I would certainly recommend it to anyone who is just starting out or who is thinking about developing a trading system. In particular it will be useful for those whose mathematical and programming skills are not very advanced.
This article was originally published in the Mar/Apr 09 issue of YourTradingEdge magazine (www.YTEmagazine.com). All rights reserved. © Copyright 2009, MarketSource International Pty Ltd. If you are not a subscriber, click here to subscribe, or to purchase this issue as a single back issue, click here. |
More articles : » I borrowed to buy shares and have sold them last financial year but did not apply the proceeds to interest bearing debt. Is the interest I pay after I sold the shares deductible? I am not a share trader and reported a small capital gain on sale last yearYou would be able to claim a deduction for the interest expense in relation to money borrowed for the purchase of shares but only during the period/s in which it is expected that you will derive an income. Once the shares were sold, it is quite clear that your original loan to purchase the shares... » I am retired and I lost $10,000 in trading last year. Can I claim this as a tax deduction?Losses are sometimes unavoidable, particularly during volatile markets. Provided the non-commercial losses rules are satisfied, the Australian Taxation Office (ATO) allows traders to claim an immediate deduction for their trading losses and offset the losses against other taxable income, such as... » I am now retired and have started trading FX from my home. I also own a small parcel of blue-chip shares – would I be classified as a trader or as an investor?The distinction between traders and investors is significant for tax purposes, because they deal with gains and losses differently. In financial years when investments plummet, it is quite common for taxpayers to try to class themselves as traders. If an Australian Taxation Office (ATO) audit finds... » How long can the euro remain resilient to the Eurozone’s sovereign debt crisis?There have been plenty of people who have called the euro’s demise during the sovereign debt crisis and so far they have all been disappointed. The euro has been surprisingly stable ever since the Greek debt crisis when ittoppled 10 per cent in a month.There are three main reasons for this in our... » How much do you recommend new forex traders to begin with and what size lots (eg standard, mini and or micro)?That is a great question since position size is one of the most important things that a new trader needs to get right in order to be successful. If a trade position is too large for your account balance then you can get wiped out in an instant especially if the market is moving quickly, which is... » 2012 MTA Symposium early registration opensEarly registration is open for the 2012 Annual Market Technicians Association Symposium! Add comment | Readership SurveyTraders and investors, here's your chance to participate in the 2012 YTE Readership Survey.
The purpose of this survey is to learn more about the YTE readership and how we can improve the magazine. Click here to take part. |
