ISBN0894590278

Anyone that would ever give a negative rating for this classic of trading literature, doesn't have the slightest clue as to what they have just read. This is "THE" single most innovative trading text to hit the public's bookshelves in the last 30 years. This book single-handedly revolutionized the technical analysis of financial markets. I am almost speechless that someone could write a negative review of this book....

I bought this book mostly for the Directional Movement System. I have been trying to figure out the best way to use this system for some time, and could not get a handle on how to effectively trade with it. I found the explanation of the way the system is constructed to be very helpful. There is not a lot of text explaining how to use the different systems. but,if you understand the concept of what is being measured and how the indicator got there, the rules of applying the system is quite easy. Only time will tell if I am on the right track, but today I feel more confident when making a decision on when to take a position.

it will be useful if you want to go into details and step by step development of indicators developed by Wilder.
However, the book does not add much to the experienced analysts.

DMS is the best system I ever known and works well for me
Thank you Mr Wilder.

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 counter trend fashion, but also has the capacity to shift gears, and follow the trend, should one arise? As the markets have become tougher, having a system like this (in reality, 2 systems in 1), is essential.

Or how about the swing index, which provides an alternative formula and chart to objectively identify the concept of a price "swing", useful in finding appropriate places to set stops?

This is a great book for the technician interested in developing a system.