Legendary traders – wells wilder new concepts in technical trading
Wells Wilder wrote perhaps one of the most innovative trading texts ever and New Concepts in Technical 1978 remains a classic. The book single-handedly revolutionized the way myself and other traders viewed technical
RSI, ADX, DMI, Parabolic, volatility breakouts, pivot point reversals are used as standard by many traders but it who bought them to the fore and gave us indicators and thoughts which even a quarter century later remain tools that are essential for many savvy traders.
If you want to become a
The book was of course written before computers were mainstream and the indicators are easily plotted of the indictors enclosed in the book, I find the ADX and RSI as profitable today ever were. If you have not used them, try looking at these profitable trading strategies which two favorites.
The ADX
Is used to show if a market is trending and the strength of a a great way to use it is as a profit taking signal; simply look for the
The RSI
Combine classic indicator and the stochastic and do this:
Watch for stochastic crossovers from overbought or oversold with
The other indicators have value to of course - but the above two indicators I have found particularly be used by any trader, to increase profitability and reduce risk.
Study Wells Wilder indicators and thoughts learning from a true market master, who's work is just as valid today as it ever
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