Evidence-Based Technical Analysis Book Review

Recommended by
100%
Score
88/100 (1 rating)
Readability
5/5
Length
4/5
Use of Illustrations
4/5
Index and Layout
4/5
Quality of Information
5/5
Title Evidence-Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading Signals
Author(s) David Aronson
Publish Date Nov-2006
Amazon Rank 286,097
ISBN 0470008741

Review Evidence-Based Technical Analysis

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recommends Evidence-Based Technical Analysis
A must read if you are wondering if your trading system results are statistically significant
Score
88/100
Readability
5/5
Length
4/5
Use of Illustrations
4/5
Index and Layout
4/5
Quality of Information
5/5

The best trading book I read in many years!

Chapter 2 (mostly about psychological flaws) is nothing really new but well written & documented, chapter 3 makes a great job at describing the basics of the scientific method (even though I am an engineer & have had a 25 year career in high-tech R&D, I have to admit I was totally unaware of it), chapter 4 provide a sound statistical basis to test the predictive power of a trading rule/signal/system. Chapters 5 & 6 extend these techniques to data-mining. Chapter 7 reviews the principles & flaws of the Efficient Markets Hypothesis (EMH), then introduces a number of non-random price theories. Finally, chapter 8 describes the systematic testing of over 6,000 signals on the S&P500 daily, of which the "best" one doesn't pass the statistical significance test for data-mining ... so don't look at this book to provide you the holy-grail, because it won't, but it is a great eye-opener.

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