Systematic Trading: A Unique New Method For Designing Trading And Investing Systems Download Free (EPUB, PDF)
This is not just another book with yet another trading system. This is a complete guide to developing your own systems to help you make and execute trading and investing decisions. It is intended for everyone who wishes to systematise their financial decision making, either completely or to some degree. Author Robert Carver draws on financial theory, his experience managing systematic hedge fund strategies and his own in-depth research to explain why systematic trading makes sense and demonstrates how it can be done safely and profitably. Every aspect, from creating trading rules to position sizing, is thoroughly explained. The framework described here can be used with all assets, including equities, bonds, forex and commodities. There is no magic formula that will guarantee success, but cutting out simple mistakes will improve your performance. You'll learn how to avoid common pitfalls such as over-complicating your strategy, being too optimistic about likely returns, taking excessive risks and trading too frequently. Important features include: - The theory behind systematic trading: why and when it works, and when it doesn't.- Simple and effective ways to design effective strategies.- A complete position management framework which can be adapted for your needs.- How fully systematic traders can create or adapt trading rules to forecast prices.- Making discretionary trading decisions within a systematic framework for position management.- Why traditional long only investors should use systems to ensure proper diversification, and avoid costly and unnecessary portfolio churn.- Adapting strategies depending on the cost of trading and how much capital is being used.- Practical examples from UK, US and international markets showing how the framework can be used.Systematic Trading is detailed, comprehensive and full of practical advice. It provides a unique new approach to system development and a must for anyone considering using systems to make some, or all, of their investment decisions.
Hardcover: 325 pages
Publisher: Harriman House; 1st edition (September 14, 2015)
Language: English
ISBN-10: 0857194453
ISBN-13: 978-0857194459
Product Dimensions: 6.7 x 0.8 x 9.6 inches
Shipping Weight: 1.6 pounds (View shipping rates and policies)
Average Customer Review: 4.6 out of 5 stars See all reviews (14 customer reviews)
Best Sellers Rank: #266,327 in Books (See Top 100 in Books) #105 in Books > Business & Money > Investing > Online Trading #152 in Books > Business & Money > Investing > Analysis & Strategy #355 in Books > Business & Money > Investing > Stocks
The book is best suited to self-directed traders/investors and individuals who are mathematically inclined and who are looking for a systematic rule-based methodology to manage their money while eliminating the emotional component of the equation. The author provides methods for three trader types: asset-allocators, semi-automatic traders comfortable with leverage and derivatives, and staunch systems traders using trading rules. Readers need to understand that they need to have adequate time available to develop and then back-test a rule-based approach. This book provides everything needed to develop a sound trading approach.Over the course of 300 pages, Carver divides the text into four-parts consisting of detailed explanations of how to set up a systematic trading system covering first the theory behind it, then how to use the toolbox safely, followed by the specific framework to use, and lastly the practice needed to make it work effectively.As the author illustrates, developing a profitable trading system is not a simple task that can be completed in a couple of hours. It is a time-consuming learning process containing critical elements that must be weaved together, tested, and then tried out in real-time. It is not for the faint of heart or those that give up easily because of the time commitment. Above all, it is necessary to spend the time to develop an objective trading system that will work well going forward, not just back-test very well.Carver believes that one of the keys to making money in the markets is to avoid mistakes such as making your trading system to complex, being overly optimistic concerning likely returns, taking unnecessary risks, and trading too frequently.
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