The Trading Systems Toolkit: How to Build, Test and Apply Money-Making Stock and Futures Trading Systems

I picked up this book, intrigued that the reviews were so different - one star versus five stars. I did not know what to expect, but after many days of reading, I clearly believe that this is a have-to-have book if you are seriously thinking about developing your own commodity trading systems. It may be too simple for some people, but the methodology is sound, and concise, and I believe the people who panned this book were jealous.

This book is one of the, if not the, most practical book written to show people how to build their own trading systems. If you are opposed to trading futures, don't discount the applicability of this book, for anyone who has a little imagination can apply this knowledge also to the stock/bond markets. How I managed to accidentally find this gem, I don't know, but it is one of the best books I have seen on the subject of how to develop your own trading systems of any kind. Your library is barren without this book!

I found this book to be quite upfront and personal. I felt the author was speaking directly to me. I also felt that the knowledge I received from this book was valuable even though at the onset, I was not firm in my decision as to whether or not I had the necessary confidence to develop my own commodities future system. Krutsinger's book is about as unsophistocated as it can get, while still being rather out-of-reach for beginners. If you delight in learning new things, and if you have a keen desire to build a commodities trading system, this book is definitely for you. The fundamentals, technical indicators, possible problems, pitfalls, and the psychological consequences of developing your own system are each explained. Then you are shown how to develop your own trading system according to your wishes, your wants, your desires, your likes and dislikes. The dessert of this book is chapter 9, which includes $48,000 of trading systems, and surprisingly enough, shows you the LOGIC behind each one! If I could only purchase one book to help me develop my own trading system, it would be this one.

There are three types of traders - discretionary, technical and systems. Once you understand the advantages of being a systems trader, this book will become one of your prize possessions. You will need a copy of TradeStation software in order to test and apply most of the trading systems Joe presents in the book, but once you read the book, if you are serious about trading, you'll get a copy of the program. The book reveals many proprietary trading systems Joe has developed for different markets. The "Buy Monday" system he reveals in the book can easily make you a nice steady, safe income with a few minor refinements (and you don't even need the software for this one). The book details the workings of many trading systems, provides Easy Language code for most and explains why each of the systems works. Easy to read and to the point, this book provides examples of the technical tools and the mindset necessary to help you reduce the fear and uncertainty in trading.

The Trading Systems Toolkit is a quick read book for the beginning futures trader. The emphasis on system trading and the need for strict adherence to the system is what the beginner needs for the first experience in the markets. Mr Krutsinger does a good job of specifying the key points of a good system, gives multiple examples of each, and discusses how to generate more ideas. This book should be a welcome addition to any traders library.