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Unholy Grails - A New Road to Wealth, by Nick Radge
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What’s the fastest way to lose money? Follow the herd. Nick Radge stopped following the herd many years ago. As a trader and stock broker, Nick learnt to recognise what the herd were doing and how they react to financial information. He also realised that it made no sense.
Are you one of the herd?
Here’s a test:
If a stock’s price is falling do you think it represents good value, i.e. it’s cheap?
OneTel and HIH were not cheap when they eventually delisted in 2001. ABC Learning was not cheap when it delisted in 2008. How about Bear Sterns, Lehman Brothers, Trump Entertainment or Kodak? Billabong does not look cheap at the moment!
A stock price in motion tends to stay in motion; Unholy Grails will show you how to be on the positive side of this statement.
Nick Radge is focused on momentum investing; purchasing stocks that are trending up. Nick shows you how to hitch a ride on stocks in an uptrend or protect your capital during sustained bear markets.
Unholy Grails goes against almost everything your stock broker, financial planner and your fund manager will ever tell you. Considering that in 2008 capital managed by fund managers dropped up to 50% we are in desperate need of an alternative way of thinking. In Unholy Grails, Nick Radge details a road less travelled; a compilation of practical strategies for investors looking for long term gains with minimum daily effort.
“I am shocked that so many Mum and Dad investors were financially and emotionally battered during the GFC. The financial planners and fund managers they were relying on for advice gave them no advice: just the same old ‘buy and hold’ strategy that simply does not work in a collapsing market. In Unholy Grails I define specific strategies for investors, allowing them to manage their own investments and stop paying fees to financial planners and advisors,” said the author, Nick Radge.
Whether investing for your retirement or using an active investment strategy to manage your personal wealth, Nick Radge examines and tests numerous investment strategies to help determine the right one for you.
Don’t expect the same old, worn out advice from Nick Radge. His latest book is not called Unholy Grails for nothing!
- Sales Rank: #546719 in eBooks
- Published on: 2012-04-05
- Released on: 2012-04-05
- Format: Kindle eBook
Most helpful customer reviews
13 of 13 people found the following review helpful.
Momentum Trading Systems
By Alan
Having read "Adaptive Analysis" by Nick Radge a couple of years ago I was eager to purchase his latest book "Unholy Grails" and I am very happy that I did. The main focus of this book is about how to outperform buy and hold with the use of a robust fully tested trend following strategy that has a positive expectancy. Each system is clearly explained so that the reader has a full understanding of how it works and why it works. Each strategy has been robustly tested to ensure that they will operate in varying market conditions. The full test results for each system are clearly laid out in the book. These results include the CAGR (Compound Annual Growth Rate), Maximum Drawdown, MAR, Exposure, Number of transactions, Win %, Win/ Loss Ratio, Standard Deviation, and the Sharpe Ratio. Some of the other topics covered in this book include the use of price, volume and turnover filters, selecting a test universe, optimisation and also the psychological side to trading.
Near the end of the book Nick interviews several successful traders about the trading systems that they manage. The interviews are quite in depth and give the reader a good understanding of what it's like as a trader.
In summary this is easily the best trading book that I have read. Instead of just rehashing old ideas and offering very little like the majority of trading books that I have read, this book really delivers. It actually helps when it's written by a trader.
11 of 11 people found the following review helpful.
Trend Following Systems Explained
By Steve Burns
Most new traders generally go looking for the holy grail of trading. That system that just prints money, they believe it exists and will look relentlessly for it. However there is no holy grail of trading. The closest thing a trader can get to a holy grail in trading is a robust mechanical trend following system with limited draw downs that the trader can deal with without emotions causing them to over ride the system.
Nick Radge as written a great book on this very topic `Unholy Grails', this is a great addition to any trend following trader's library regardless of your specific method for trend following. What Nick does is take the reader through how he builds mechanical trend following systems that beat the market. His momentum based strategies are based primarily on catching a market wave and riding it for over sized profits. Not through predictions but through back tested mechanical systematic strategies based on momentum that have historically been shown to beat the market during a trend and over the long term. In between these trends the system is designed to limit equity draw downs by automatically stopping out of losing trades when certain parameters are hit. His key message in the book is to create a system based both on simplicity and robustness. His systems allocate the investors account into 20 equal increments to manage risk without diluting returns.
He measures his systems through the metrics of return, risk, and also reliability. Nick does a great job of giving the reader charts demonstrating the historical equity curves of both profits in dollars and percentage of equity draw downs during markets that are not conducive to profits. Nick has placed charts in the book showing the returns of each system year by year based on historical information using the systems entry and exit metrics for its watch list.
Nick has some excellent interviews with very successful traders in the back of the book and how they successfully manage their trading systems in real accounts with real money. He also covers the misconceptions about trend following traders and explains the truth about what they do.
This is just an excellent addition to trend following literature and is a perfect complement to Michael Covel's writings. I highly recommend.
5 of 5 people found the following review helpful.
The reality of mechanical trading
By Tin Man
The reality of this book is somewhat shocking. I cant remember having ever read a book which explains various trading systems in detail and includes the statistical harsh downside and the always sort after upside. I will not detail the book section by section as previous reviewers have done this quite nicely. But there is no doubt the "real life" context in which Radge has explained mechanical trading is to be commended. After reading this book you are not left feeling high nor low - but rather grounded on the topic with a intimate understanding that with hard work profits are to be found.
Admittedly you will need a good test platform and will need to be reasonably fluent in high level programming language to put these types of systems into action but i believe anyone who is interested in mechanical trading systems would already have a good understanding of the tool kit required to backtest/code etc.
The tool kit aside, the angle from which Radge approaches this topic is well thought out - not overwhelming the reader and this ensures you make it through the entire book.
Simplicity truly is the ultimate sophistication.
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