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 Mastering
Hurst Cycle Analysis : A Modern Treatment of Hurst's Original System of Market Analysis
By Christopher Grafton
A book review by Luka Lukic of the
AIM & PLUS Newsletter
Mastering
Hurst Cycle Analysis can be bought for the special price of GBP50+p&p (RRPGBP65) in the Square Mile Bookstore by clicking here
In Mastering Hurst Cycle Analysis, Christopher Grafton looks to bring the principles of market analysis J.M. Hurst introduced in the early 1970s into the modern age. Hurst believed that all securities followed
cyclical patterns and if properly modelled then historical data could be used to forecast the highs and lows of stock prices. Unfortunately Hurst's techniques were too complex for their own good at the time and the system fell into disuse. However, with the
dawn of the technological era Grafton has transferred Hurst's work into computer code allowing for much faster and accurate computations.
While the final product is rather complex, the underlying principles are fairly simple and Grafton begins by explaining the properties of wave cycles, in much the same way as you would find in a classroom physics
lesson. He then introduces the idea that the main drivers of share price have cyclical natures and that each can be mapped into waves. These can then be combined, together with an underlying trend, to produce a composite wave-from that represents the expected
movement of your security of choice. As the reader grows in confidence, Grafton steadily introduces new concepts, each building on the last, and soon all those strange lines and curves do not look so scary.
Practical examples are never far behind the theory and Grafton gives numerous case studies throughout the book of how analysis is performed in real life, complete with charts and diagrams. The book's underlying
theme is that preparation is key and that through analysis beforehand much easier to manage your trades afterwards. It also notes that trades require constant supervision and that while technical analysis will not work every time, if done properly it can significantly
reduce your risk. At the end of the book Grafton offers swathes of coding to help you create your own models.
While many books on technical analysis exist, few offer such depth of analysis and so intricate a technique. Bringing with it a wealth of personal experience, Grafton's book is one that belongs on any technical
trader's shelf.
Mastering
Hurst Cycle Analysis can be bought for the special price of GBP50+p&p (RRPGBP65) in the Square Mile Bookstore by clicking here
Visit
www.SquareMileBookstore.com for the ultimate range of investment, trading and business books, personally selected by investment experts, with exclusive free reviews from some of the UK's foremost investment writers.
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