Ernest Chan has written a straightforward introduction to quantitative trading for the home trader; while this book is a great blueprint for someone who has never traded and is thinking about to doing his own trading, it’s too shallow for anyone who has been exposed to any sort of trading.
He does a good job of covering the most common trading pitfalls and he does an adequate job of discussing data gathering and backdating, nevertheless, he spends four chapters covering common sense concepts and techniques. I found his Matlab and Excel code to be of little use and I wish he used an open source package such as R instead of Matlab, in-fact, I wish he had devoted a chapter to the use of open source software packages in trading.
I only recommend this book for people who have never traded, if you have some experience in trading then skip the book and follow his blog instead.
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