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New Concepts in Technical Trading Systems
by J. Welles Wilder
from Trend Research
Customer Reviews:
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Avg. Customer Rating: 4.0 / 5.0 
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Shhhh! Please don't tell anyone! 
I was first introduced to this book in 1983. I didn't merely read this book, I absorbed it.
I learned that doing the mathematics was only the beginning. With alarming ease, you could actually "feel" the market and it's strength or weaknesses long before it was being reported on CNN and CNBC.
ADX and DMI are now part of my everyday breathing and eating.
I really can't describe how much $$$ it has saved me and how much $$$ I've made from learning about Welles Wilder.
But please, let's just... more info
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New Concepts in Technical Trading Systems
I have been purchasing books on trading for many years and recently it was suggested that I could find more detail on the RSI in Wilder's book so I purchased it. The book is dated - basically written before PCs were available for charting the indicator so much of the book goes through the manual calculation of ADX and RSI indicators which is fine. What is suprising is the lack of depth in setting the parameters which is understandable since all of the work in the book was manually calculated. Several... more info
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Even after 30 years, it still has value... 
As other reviewers have pointed out, many of the techniques first described in New Concept in Technical Trading have filtered into common practice, as well as most charting software.
In spite of its influence, many of Welles Wilder's ideas outlined in this book still haven't been discussed much. This lack of discussion is by no means a reflection of their usefulness.
For example, how often do you see systems like the reaction trend system, that has a default setting of trading short term swings in... more info
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JUST ONE AND BEST
DMS is the best system I ever known and works well for me
Thank you Mr Wilder.
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