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The Encyclopedia Of Trading Strategies by Jeffrey Katz (eBook)
There is one thing that most traders have in common: They have taken on the challenge of forecasting and trading the financial markets, of searching for those small islands of lucrative inefficiency in a vast sea of efficient market behavior. For one of the authors, Jeffrey Katz, this challenge was initially a means to indulge an obsession with mathematics. Over a decade ago, he developed a model that provided entry signals for the Standard & Poor’s 500 (S&P 500) and OEX. While these signals were, at that time, about 80% accurate, Katz found himself second guessing them. Moreover, he had to rely on his own subjective determinations of such critical factors as what kind of order to use for entry, when to exit, and where to place stops. These determinations, the essence of discretionary trading, were often driven more by the emotions of fear and avarice than by reason and knowledge. As a result, he churned and vacillated, made bad decisions, and lost more often than won. For Katz, like for most traders, discretionary trading did not work.
Language : English
Type : eBook (PDF)
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