Computerized Trading: Maximizing Day Trading and Overnight Profits (New York Institute of Finance)

Mark Jurik taps into the minds of twenty experts who reveal their strategies for maximizing profitability using computerized trading systems. Unlike other books that discuss one or two of the many aspects of trading, Computerized Trading covers all of the key topics related to the trader's survival and profitability. Beginning with a discussion of the basic skills a trader needs to design a trading system, this user-friendly guide moves from advice for the novice just getting started to advanced system development and data modeling for the experienced trader. Written so even the most inexperienced trader will understand every step, the chapters combine to deliver the whole picture, including: Designing, testing, and analyzing trading strategies Coping with the psychological pressures that accompany different trading methods Controlling risk by applying a few basic rules and formulas Negotiating the best data feed deal Getting the right data, books and software Complete with over 100 explanatory charts and diagrams, this book also contains several checklists to help traders monitor their progress in developing a trading system that works. Faced with competition from huge institutional investors, does the individual investor stand even a remote chance of making a profit? Th market is still filled with opportunities, says this straight-talking guide--but to chisel out profit from the market's inefficiencies you are going to need market insight, trading skill, and all the edge you can get.
Computerized Trading gives you that edge. It reveals how you can use your computer to gather, analyze, and detect profitable market inefficiencies--the key to making winning trades day after day.
You'll learn the secrets of success from 20 experts in the field, all organized and edited by top authority Mark Jurik to lead you step-by-step from basic to progressively more advanced topics, including:
-Learning to read the market
-Building, testing, and evaluating systems
-Using the psychology of trading to win--mental exercises to help you avoid pitfalls and slumps
-New methods for quantifying market behavior
-Rules and formulas for controlling risk
-Market, time, and system diversification
-Pros and cons of modern portfolio theory
-Advanced system development
-Intermarket analysis and how to utilize it
-Profiting from data preprocessing
-Modeling the markets
-Getting the best data and software
In addition, you'll find useful web sites, time-saving lists of financial data vendors, and helpful charts, diagrams, and case studies to illustrate and clarify every key point.



"Will this cost me lots of money just to get started?"
"What are the basic ways to enter and exit a market?"
"How should I build a neural net-based trading system?"
"How should I evaluate my trading system?"
"What's the best way to receive live data?"

Discover the answers to all your computerized trading questions, from basic to advanced, in this ground-breaking new guide to successful day trading. Twenty top experts reveal their techniques and strategies for successful computerized trading in this practical guide.

Part one offers basic trading skills and methods. You'll learn how to prepare for the psychological pressures of trading, various technical indicators to use, ways to center and exit a trade, and basic money management techniques.

Part two focuses on testing and evaluating your trading system, including backtesting methodology and numerous ways to assess system performance.

Part three discusses such intermediate level issue as maintaining a psychological edge, creating trading zones to quantify a market's upside and downside potential, switching among various time frames, and diversification to optimize your system.

Part four covers advanced issues of constructing market model as powerful indicators, including chapters on intermarket analysis, preprocessing of financial data, and Statistical Data Mining. The appendices offer techniques for selecting a financial data provider, helpful lists of data vendors, and their services, practical information on data generation and transmission (and problems that can arise), web sites of value, and a short true story about lessons learned.
Complete with explanatory charts, diagrams, and checklists, a detailed discussion of the use of computerized trading systems draws on the expertise of twenty expert traders, and gives step-by-step advice on strategies and reliable data to both beginning and experienced investors.