Free PDF The Encyclopedia Of Technical Market Indicators, Second Edition, by Robert W. Colby
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The Encyclopedia Of Technical Market Indicators, Second Edition, by Robert W. Colby
Free PDF The Encyclopedia Of Technical Market Indicators, Second Edition, by Robert W. Colby
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From the Back Cover
Advantages of Using Technical Market IndicatorsWhich to Use, How and When to Use Them, and Why This new edition offers an accumulated treasury of nearly all known technical market indicators, including many new ones and better ways to use long-established ones. It offers precise formulas, performance over all available market history, and how to maximize reward/risk potentials. Now you can apply tested indicators immediately to your own investment decision making. Praise for the first edition: "Objective. Systematic. Honest. Pulls no punches. Thorough. Extensively researched. Provides in-depth coverage of more than one hundred indicators, clearly revealing both their strengths and weaknesses. Shows you how to select indicators that work best to achieve your objectives while taking the guesswork out of your investing and trading. The source for the actual facts about technical market timing indicators."ÂÂ--Alan R. Shaw, CMT, Managing Director, Senior Advisor, Technical Research Department, Salomon Smith Barney "The most thoroughly documented research that I have ever seen. Shows hard evidence. Highly recommended." --ÂÂGerald Appel, Signalert Corporation "Credible. Must reading."ÂÂ--Norman G. Fosback, The Institute for Econometric Research, Inc. "Terrific. The most helpful text."ÂÂ--Paul Rabbitt, RabbittAnalytics.Com The same technical market indicators used by top-performing traders and investors are available now. This book offers the necessary knowledge on how to formulate and test technical market indicators in an orderly, step-by-step fashion. Specific technical market indicator parameters shown in this book would have maximized reward/risk performance over actual market history. Technical market indicators offer: Logical, practical, efficient, effective, systematic, and precisely quantified frameworks for organizing information about actual observed market behavior, providing a firm foundation for making speculative decisions, grounded on historical precedent Flexibility and adaptability to any time frame and any trading instrument Clear-cut, precise, and objective signals that allow us to confidently execute trades while eliminating uncertainty, guesswork, confusion, anxiety, and stress, and freeing us from forecasts, opinion, bias, ego, hope, greed, and fear A sensible and orderly procedure for selecting specific decision rules that would have maximized reward/risk performance over actual past market behavior Simple, intuitive, easy-to-understand, and precisely defined formulas based on a manageable number of variables, enabling us to execute decisions with the timely and disciplined consistency that is vital for success in the financial markets Accessibility, based on readily available technology and data Conservation of capital and precisely defined methods for risk control Risk reduction means greater consistency of profitable returns This book shows you how to find a trading system that is right for you and how to apply it for best resultsÂÂincreased profit, decreased risk, and the self-confidence of gaining control over your investment decision making.
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About the Author
Robert W. Colby, CMT, is a leading authority on investing. He is widely known as an independent researcher who consults with both individual and institutional investors, and he is a featured speaker on investment research methods and the investment outlook at conferences and seminars worldwide. For his latest ongoing research, go to www.robertwcolby.com. To further your own independent research, Robert W. Colby has arranged for your benefit a discount on the same MetaStock® technical analysis software he used for this book. Call 1-800-882-3040 and mention "Offer Code COLBY" to purchase MetaStock® at a special discount price.
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Product details
Hardcover: 832 pages
Publisher: McGraw-Hill Education; 2 edition (November 12, 2002)
Language: English
ISBN-10: 0070120579
ISBN-13: 978-0070120570
Product Dimensions:
7.8 x 2 x 9.6 inches
Shipping Weight: 3.4 pounds (View shipping rates and policies)
Average Customer Review:
3.8 out of 5 stars
29 customer reviews
Amazon Best Sellers Rank:
#1,138,613 in Books (See Top 100 in Books)
If you are looking for detailed formulas to define the calc process of each indicator, do NOT get this book. If you are looking for one man's carefully-derived opinions about the usefulness of various indicators, you will like this book. To his credit, Colby describes walk-forward testing pretty well (albeit with some ambiguity) ... he uses that method to eval the formulae. But, rather than running tests over thousands of symbols for a decade or two, he runs the DowJonesIndex over many decades of history. Major indexes do NOT realistically model the much noisier behavior of the vast majority of stocks ... so his analyses are flawed ... they don't incorporate whipsaw effects. But, as stated initially, my biggest objection is that the description said formulae are provided for the indicators ... and many have NO formulae ... either since they are too complex, or since in the author's opinion, that particular indicator doesn't "warrant" further information. This exhibits a myoptic approach - he's presuming that since HE could not find a value in the indicator, then no one else could either. An "encyclopedia" should not present information with that much bias. INSTEAD OF THIS BOOK, buy "Technical Analysis from A to Z" by Steven Achelis. It's got detailed formulae, without all the bias ... and the "complex" formulae are available from a spreadsheet you can download. Colby's book overlaps A to Z a lot ... and offers little additional "encyclopedia" info ... very few "new" indicators beyond A to Z ... and many of those have no formulae.
Use this comprehensive, well written book along with Wikipedia to quickly orient yourself in the field of technical analysis and start using technical indicators right away, without wading through some author's possibly tedious and/or slanted overview. One great feature is that the author compares the results of of applying each technical approach to a baseline that is usually the results of buying and holding the DJIA for most if not all of the 20th century. This is a great help in ranking these indicators and picking the ones that attract us.
As indicated in my review about Mark Larson's book 12 Simple Technical Indicators that Really Work Course Book with DVD , The Encyclopedia Of Technical Market Indicators, Second Edition is a powerful addition to Mark's book. The Encyclopedia Of Technical Market Indicators, Second Edition gives a specific description of every technical indicator available, and then some. The most beneficial aspect of this book is that the investors will know exactly what a specific indicator measure and represents. This will make the investor more educated about analyzing and executing trades.
It is a very thick book and covers many indicators, but discussions on each is just about a couple pages long. One can get better info on these from the web. I got it but hardly read it after finding it does not contain useful info.
Not very informative on how to apply indicators. Lots of pages with not enough information.
Even most of the indicators comes with brief explanation, it is still a valuable book.
a very thick tome describing the purpose and math behind many indicators from simple moving average to CCI, MACD and more.
For the earlier review commenting that the formulas are only in Metastock I must comment that this is not the case.The indicators in the book are described in varying ways:1. Most of the indicators (and the method of their calculation) are described in prose. Sometimes there are no mathematical formulas visible, as the calculation is only described in the text.2. Very often the mathematical formula for the indicator is printed out. From these formulas it is quite straightforward to implement them in your selected calculator (be it in your head, Excel, any programming language..)3. For the most used and known indicators, the calculation is layed out in detail with printed step-by-step excel-sheets. For example, it is impossible for you not to undestand from the book how to calculate Exponential Moving Averages.However, the book does not only include definitions about market indicators, but also examples of their implementation. For most of the indicators a trading system is proposed (that is, exact rules when to buy or sell using the data given by the indicator), and the implementation of these systems are indeed described in Metastock language. Still the described systems are quite easy to understand even without Metastock background. The meaning of some of the metastock function calls may take some figuring out, but usually given the context of the text the code is quite easy to understand. Personally I am also a programmer and have never used Metastock, and still find all of the book most usable.The only negative aspect of the book I can say is that the level of description on the indicators varies quite widly. Some indicators may get several pages, while others are passed by with 10 lines of text. It would have been nice if all the indicators would have been given the same level of treatment, with at least simple mathematical descrioption for each. I usually prefer simple mathematics, and it was little disturbing to notice that sometimes formulas are described only in text.To conclude, this is after all a very comprehensive book, and by far the best collection of data on market indicators I have seen. Highly recommended dependless whether you are using metastock or not.
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