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The Systems May Not Backtest As Claimed...
Most stock trading books make elaborate claims about offering new trading systems without showing their back-test performance results. This book shows such results for the eight featured systems. Normally such "proof" of performance would make this book stand above its competitors.
Unfortunately, when I modeled two of the eight systems using TradeStation's Easy Language programming system (I have about 5-years Easy Language programming experience), I found that they didn't reproduce the author's stated back-test results! For these two, I couldn't get a decent (consistent looking) equity curves even after setting all commissions and slippage to zero and optimizing the input moving average periods and stop-loss and stop-profit percentages.
In my opinion, a good systems stock trading book should show both back-tested systems performance results and an equity curve over the period it was tested. A system with a chaotic equity curve is one that most of us don't want to trade. Without this data the reader knows nothing about the "advertised" system other than the author saying "trust me".
I'm embarrassed/disappointed that he frequently mentions the Lord's name and his Christian beliefs in the text of such a sub-par product.
I never got around to modeling the other six "systems" since I felt that the book was wasting my time. You may come to the same conclusion.
I would encourage other reviewers who also have programming experience (via programmable trading platforms such as TradeStation, Ninja Trader, MultiCharts, OmniTrader, etc.) to back-test these systems and report back here with your results. After all, we may help prevent some newbie from losing his/her hard-earned trading account money. Remember; 95% of all traders lose. Why? Because 95% of the available trading books/seminars feature and teach trading systems/techniques that simply don't work.
Someone once said that: "Any trading system can be quite profitable... provided that you sell enough copies of it!" :-)
January 2011 · Books · verified purchase