MIDAS Technical Analysis by Andrew Coles, Hardcover, 9781576603727 | Buy online at The Nile
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MIDAS Technical Analysis

A VWAP Approach to Trading and Investing in Today's Markets

Author: Andrew Coles and David Hawkins   Series: Bloomberg Financial

Hardcover

This book provides a new, powerful twist to MIDAS technical analysis, a trading method developed by the late Paul Levine. The authors show how to employ MIDAS in trading, from recognizing set ups to identifying price targets. The book explains the basics of MIDAS before demonstrating how to apply it in different time frames.

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Summary

This book provides a new, powerful twist to MIDAS technical analysis, a trading method developed by the late Paul Levine. The authors show how to employ MIDAS in trading, from recognizing set ups to identifying price targets. The book explains the basics of MIDAS before demonstrating how to apply it in different time frames.

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Description

This book provides a new, powerful twist to MIDAS technical analysis, a trading method developed by the late Paul Levine. The authors show how to employ MIDAS in trading, from recognizing set ups to identifying price targets. The book explains the basics of MIDAS before demonstrating how to apply it in different time frames. Further, it extrapolates how MIDAS can be used with other more conventional indicators, such as DeMark or moving averages. In addition to introducing new indicators that the authors have created, the book also supplies new computer codes.

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About the Author

ANDREW COLES, PhD, is an active trader running a private investment fund. He has a diploma in technical analysis from STA–UK and from the International Federation of Technical Analysts (IFTA). He is also a Certified Financial Technician (CFTe). He holds a master's and a doctorate and was a Postdoctoral Research Fellow of the British Academy. During his graduate and postdoctoral years, he worked at a number of institutions, including King's College (KQC) London, the Institute of Classical Studies, and Oxford University. He is the author of a previous book on the history and philosophy of science.

DAVID G. HAWKINS is a successful full-time trader. He holds an MS in physics from Brown University, has taught physics at Roger Williams University, and has designed optical and ultrasound components for graphics, medical, and telecom systems. He presents on MIDAS and other technical analysis topics at AAII conferences.

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Back Cover

Market Interpretation/Data Analysis System, or MIDAS, was developed by physicist and technical analyst Paul Levine, in the mid 1990s. It was originally conceived of as a method of analyzing market trends inspired by aspects of the popular Volume Weighted Average Price (VWAP) pricing method. Essentially, what Levine discovered was that he could accurately predict reversals in trader sentiment--and, therefore, market trends--using algorithms derived, in part, from VWAP pricing methods. Extending Levine's insights from the daily charts on which the method was conceived, Coles and Hawkins have since expanded the fractal capabilities of the approach to apply to all time frames--from one-minute charts and swing-trading charts to charts of interest to the very long-term investor. Because Levine's focus was on MIDAS purely as a forecasting tool, he failed to develop a framework for trading and investing management. Coles and Hawkins address this issue throughout the book by emphasizing how the MIDAS approach can be combined with Japanese candlesticks and other volume-based chart styles for effective trade and investment management. Writing for traders and investors, as well as technical analysts, Coles and Hawkins explain, in plain English, the basic principles of MIDAS as originally laid down by Paul Levine. However, for the majority of the book they move into new MIDAS territory, illustrating how new manipulations of the MIDAS algorithms result in new types of indicators and curves applied to entirely new market environments and time series, and how the untold story of volume powerfully affects the plotting of MIDAS curves. The authors also demonstrate how MIDAS curves can work alongside sophisticated techniques such as float analysis and market profile, how MIDAS curves can be improved by atypical calibrated launch points, and how additional techniques such as new MIDAS-based oscillators and trading bands can improve market timing. In the nine chapters comprising the final part of MIDAS Technical Analysis , Coles and Hawkins detail how advances in trading hardware and software have made it possible to extend MIDAS to areas Levine never dreamed of. They show how MIDAS--especially when used in conjunction with robust charting methods, such as Japanese candlesticks--can function as a complete trading system, or be used as a supplementary tool for greatly enhancing trading effectiveness. They also explain how to develop a MIDAS trading system using existing off-the-shelf technologies. Requiring no prior experience with the MIDAS approach, MIDAS Technical Analysis gets readers quickly up and running with the knowledge and skills needed to take full advantage of the incredible power of this sophisticated approach to timing and trading the markets.

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More on this Book

Praise for MIDAS Technical Analysis "As the first person to ever write about the Commitment of Traders report way back in 1973, I have seen the data abusedand usually greatly misunderstood. Most people writing on the subject just don't understand it and you will be misled. Chapter 12 in this book sets the record straight. I am delighted to give a 100% endorsement, the truth of the COT report is here, simply stated and easy to understand. Don't put this book down. Take it to the checkout and buy it." Larry Williams , private trader and author "If you are already familiar with MIDAS and interested in re-discovering the powerful trading method developed by the late Paul Levine, then this will become your book of reference. If you are new to the MIDAS method, I recommend first reading the introductory chapters, then jumping to the very practical, money making Chapter 8, then applying the principles yourself. Armed with 'hands-on' knowledge, you will then access the wealth of information that this book provides in helping you to correctly read the markets." Pascal Willain , independent trader and inventor of volume-based indicators, author of Value in Time "In this extremely well-developed book, Hawkins and Coles have drawn together a number of ideas, their own and existing methods, in order to construct a concise and disciplined method of analysis and trading. I am particularly delighted to see the recognition of volume as a powerful and often neglected tool. This integration of methods should serve as a profitable tool for those who are willing to do the work to understand why markets move." Richard W. Arms , author, advisor to institutions, and developer of many such tools as The Arms Index and Equivolume charting "Coles and Hawkins have masterfully combined the art and science of technical analysis into a well illustrated and comprehensive tome encompassing the MIDAS method. This book will give any trader the unconventional alternative edge they need to take advantage of the stock market." StockShare Publishing, LLC "The authors pick up where Levine left off, boldly and competently tackling both the theoretical aspects of Levine's MIDAS method, as well as providing concrete practical trading applications. There were some delightful diversions as well, including a superb overview of how to mechanically apply the statistics in the CFTC Commitment of Traders report. It is a privilege to be sourced on some of the pages, as this book has earned its reference status." Bob English , Austrian economist, market technician, and trader "The MIDAS curves can be used in any markets over any time frame. They are flexible, robust and powerful. Andrew Coles' and David Hawkins' work on the MIDAS curves is pure gold." Jayanthi Gopalakrishnan , editor, Technical Analysis of Stocks & Commodities magazine "This is an amazing book. Most books tend to be practical to the exclusion of the theory theory which is so necessary if we are to adjust a tool when it 'stops working' or tend to be so theoretical as to be impractical. MIDAS Technical Analysis straddles both worlds with ease. As a result, the book is both a reference work and a practical 'to do' volume." Ray Barros , CEO, BarroMetrics Investments Inc

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Product Details

Publisher
Bloomberg Press
Published
6th May 2011
Edition
1st
Pages
464
ISBN
9781576603727

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