Mechanical Trading Systems- Pairing Trader Psychology with Technical Analysis Description:

Mechanical Trading Systems: Pairing Trader Psychology with Technical Analysis review:
3 stars (Some interesting, well researched and concluded ideas) - This book has some interesting, well researched and concluded ideas on trader psychology which make this title worth the spend. The mechanical trading system aspects though are not brought together well and in fact it is difficult to grasp what the author is saying at times.Perhaps in a future revision the author will join the dots a little for the common man?
5 stars (Teaching you how to BUILD systems - Refreshing!) - If you are looking for a get rich quick scheme where you get ready made systems that will turn your measly $2K into $500K in a year, keep searching.

How refreshing that this author has avoided the temptation to sell tons of books by promising that mechanical trading systems presented in a book will accomplish this ridiculous claim!

Instead this book teaches you how to build mechanical trading systems. Not only does it provide readers with tools that are applicable to all systems (trending, mean reverting, etc.,), but it also shows you how to build these systems according to your individual trading personality.

Finally it avoids the typical trader "war stories". Instead of colorful, useless stories of the crash in 1987, this book actually sticks to the point... teaching you how to develop systems that fit your personality.
1 stars (Overly Simplistic and Untrue) - Page xiv says it all: "Although the proprietary strategies I personally trade differ from those employed in this book....". This is an overly simplistic, pathetic portrayal of mechanical trading systems that do not work and will not work. The book is overly technical in some areas, assumes a programming knowledge (e.g., metastock), and is generally a great sleep inducer. I am sorry I bought it, even at the discount.