Book Description
From the inventor of fractal geometry, a revolutionary new theory that overturns our understanding of how markets work.
Benoit B. Mandelbrot, one of the century's most influential mathematicians, is world-famous for making mathematical sense of a fact everybody knows but that geometers from Euclid on down had never assimilated: Clouds are not round, mountains are not cones, coastlines are not smooth. To these classic lines we can now add another example: Markets are not the safe bet your broker may claim. In his first book for a general audience, Mandelbrot, with co-author Richard L. Hudson, shows how the dominant way of thinking about the behavior of markets--a set of mathematical assumptions a century old and still learned by every MBA and financier in the world--simply does not work.
As he did for the physical world in his classic The Fractal Geometry of Nature, Mandelbrot here uses fractal geometry to propose a new, more accurate way of describing market behavior. The complex gyrations of IBM's stock price and the dollar-euro exchange rate can now be reduced to straightforward formulae that yield a far better model of how risky they are. With his fractal tools, Mandelbrot has gotten to the bottom of how financial markets really work, and in doing so, he describes the volatile, dangerous (and strangely beautiful) properties that financial experts have never before accounted for. The result is no less than the foundation for a new science of finance.
Book Description
A leading pioneer in the field offers practical applications of this innovative science. Peters describes complex concepts in an easy-to-follow manner for the non-mathematician. He uses fractals, rescaled range analysis and nonlinear dynamical models to explain behavior and understand price movements. These are specific tools employed by chaos scientists to map and measure physical and now, economic phenomena.
Book Description
TRADING CHAOS APPLYING EXPERT TECHNIQUES TO MAXIMIZE YOUR PROFITS
Chaos theory now stands at the cutting edge of financial decision-making methods. The product of years of scientific investigation into unpredictable phenomena, it has the potential to offer traders entirely new perspectives on the movements of markets—and less risky routes to greater, more consistent profitability. Unlike other books on the subject, Trading Chaos takes chaos analysis out of the realm of the abstract and makes complex concepts easy to understand and use. It offers you the most practical, comprehensive guide available to applying chaos theory to the real world of trading and investing.
In this breakthrough work, author Bill Williams gives you the benefit of his unique qualifications: 35 years of successful trading and a PhD in psychology. The instructional techniques used in Trading Chaos have been tested and refined in the workshops, seminars, and private tutoring sessions Dr. Williams has conducted in 12 different countries.
Designed for all traders—from beginner to experienced professional—Trading Chaos introduces you to the financial applications of chaos in five graduated stages, starting with a clear, nontechnical introduction (Level One: The Novice Trader) all the way to chart analysis, fractals, Elliott wave, and advanced nonlinear dynamics (Level Five: The Expert Trader).
Trading Chaos probes depths of human and economic behavior that other books do not even mention, including:
A detailed examination of the underlying structure of the market
How individual belief systems affect the way we trade
How to determine "what the market wants"
Most importantly—"how to want what the market wants"
Numerous charts, trading models, analysis spreadsheets, and review questions reinforce the key concepts and help insure full comprehension of the material.
Regardless of your current degree of expertise, Trading Chaos will take you to new levels of trading confidence and increased profit.
This practical guide to the powerful tools of chaos theory will help you make better, more profitable trades
"Bill Williams brings a unique background and experience to the commodity trading world. His approach to becoming a successful trader includes many fresh and fascinating concepts for traders of all experience levels."—Bruce Babcock Editor, Commodity Traders Consumer Report
"Bill Williams has demystified the Elliott Wave. His technical approach is an innovative and effective way to trade markets for novice and expert traders alike."—Bob Koppel Skylane Trading Group
"Trading Chaos by Bill Williams is an excellent guide to profiting from a market which is nonlinear in structure. The book is divided into logical levels of trading techniques useful to the novice and expert trader. I was genuinely surprised that the expert can still learn refreshingly new techniques at each level presented."—Timothy C. Slater Managing Director of Dow Jones Telerate Seminars
Trading Chaos takes chaos theory out of the abstract realm and into the real world of practical investment decision-making. Using the techniques in this remarkable book, you will uncover the hidden patterns of what appear to be the random, unpredictable movements of the commodity, futures, and options markets. Regardless of your current level of experience, expert commodity trader and trainer Bill Williams will give you the skills and insights to move to levels of trading ability you would not have imagined possible.
Clear, practical, and nontechnical—Unlike other books on chaos theory, Trading Chaos is designed to be easy to understand and use
Unique organizational format—Introduces the reader to the financial applications of chaos in five graduated stages, from Novice to Expert Trader
Expert advice on avoiding common psychological traps and pitfalls—Including such self-limiting afflictions as the "paralysis of analysis," "opinionitis," and the dangers of trading on individual belief systems
A wealth of supplementary materials—Charts, trading models, trade plans, analysis spreadsheets, and trading diaries illustrate and reinforce key concepts
© Amazon.com, Inc
Sommario: Indice