Michael Harris – Profitability & Systematic Trading

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Author: Michael Harris

KEVIN J. DAVEY is a professional trader and a top-performing algo trading systems developer. He is the author of 4 best selling books on trading and investing. He is recognized as a thought leader in algorithmic trading system development. Kevin writes the monthly column “Algo Q&A” for “Technical Analysis of Stocks and Commodities” magazine. An aerospace engineer and MBA by background, Davey has been an independent trader and investor for nearly 30 years.

Although Kevin has had a great deal of recent success, many of the early years were met with failure. “I remember starting out with a $5,000 account,” recalls Kevin, “and within a week or so I had lost about $1,000 trading a moving average crossover system. So, I then decided if my crossover system wasn’t working, surely the opposite of that signal would work – a classic ‘newbie’ mistake. Within another week or two, I had lost another $2,000, or 60% of my bankroll. At that point, I got smart and quit trading for a while.”

Profitability & Systematic Trading

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In order to overcome certain obstacles and make more informed decisions in today’s markets, you need to use the appropriate models and apply careful analysis.

Nobody understands this better than author Michael Harris. And now, with Profitability and Systematic Trading, he reveals how to achieve this goal, by discussing some of the most important trading concepts he’s worked on during twenty years of research and development in this field.

From the Inside Flap

While various technological advancements, an abundance of information, and almost instant access to financial markets have improved the life of a trader, the fact is that there are still many challenges that must be faced—from trading system failure to making crucial choices on when to buy, sell, or hold.

In order to overcome these obstacles and make more informed decisions in today’s markets, you need to use the appropriate models and apply careful analysis. Nobody understands this better than author Michael Harris. And now, with Profitability and Systematic Trading. He reveals how to achieve this goal, by discussing some of the most important trading concepts he’s worked on during twenty years of research and develop.

Divided into three comprehensive parts—Foundations, Profitability and Risk, and Systematic Trading—this reliable resource:

  • Reviews the essential insights a trader must possess before attempting to develop winning trading methodologies. And confronts some popular misconceptions about the markets
  • Provides a quantitative assessment of profit-ability, risk, and money management; explores the limitations imposed by profitability require-ments on trading system design; and discusses the restrictions that prudent risk and money management place on capital requirements
  • Focuses on the process of trading system development. And addresses how success depends on your understanding of the intricate details involved and the potential pitfalls

Using specific examples, Harris outlines the various aspects of trading system development. And shows you how the proper approach to this discipline can minimize the risk of ruin while maximizing your trading returns. Along the way, Harris also introduces you to his concept of Trading System Synthesis,. A dynamic method of discovering profitable strategies that can be used as building blocks in a systematic trading methodology.