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Title: MercMan
Review: This book would be ideal for anyone who is new to trading or to developing mechanical systems. However, while it describes the basic steps, it falls short of giving you the detailed information required to develop, back test, and assess the results of a technical trading system. Basic common-sence stuff about testing and money manegement but insufficient depth to actually use this correctly. No discussion about referential statistics (statistical significance, std deviation, std error, etc.. all the maths you NEED if you really want to build and test a robust system) Also, Pring correctly point out that no system will work all the time but doesn't clearly explain (aside from waiting for mounting losses) how you should look for warning signs that the system is performing below expectations. All-in-all, a good starting point but let's you down if you are looking for a complete, start to finish, 'how to' book (which, incidently, is how the book is advertised!)
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