Foundations of Trading: Developing Profitable Trading Systems using Scientific Techniques Paperback – 24 August 2016


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The trader’s universal goal:
To have confidence that the signals generated by the trading system precede trades that provide rewards adequate to compensate for the risk.
… The key word is confidence.
… The primary limitation is risk.

This book presents an approach to developing profitable trading systems using scientific techniques, melding together several key aspects:
… Personal risk tolerance.
… Profit potential of the financial issue being traded.
… Data analysis.
… Adjusting the model to fit the data.
… Validation to estimate future performance.
… Comparing alternative use of funds.
… Determining whether the system is working or broken.
… Computing a proper position size to maximize account growth while holding drawdown within the trader’s tolerance.

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