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Are the markets a game? What are the rules? Who are the players? How can you, as a player, come up with a winning strategy? Now, acclaimed economist Ronald B. Shelton shows you how to master the power of game theory in the first trader's guide to this revolutionary approach to investment decisions! "It's not often that a refreshingly new idea appears in the field of trading strategies or risk management, but Ronald B. Shelton has taken pieces from game theory and betting strategies and transformed them into a new, visual way to make trading decisions. . . . He has been able to put a value on trading situations which can increase your ability to manage risk as well as clarify expectations ¿both essential ingredients for success."
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from the Foreword by Perry Kaufman author of The New Commodity Trading Systems and Methods "Gaming the Market is a very welcome and most useful new guide to playing profitably in the biggest and most complex game ever devised ¿speculating in the financial markets. Investors and traders who study this book will gain valuable insights into the real nature of the markets and will learn how to play the game to win."
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Thomas A. Bierovic, President, Synergy Futures "Ronald B. Shelton has extended the field of excursion analysis with an innovative and provocative book that is sure to be widely read ¿and controversial. By examining the actual distributions of price excursion, he shows a technique to estimate your odds going in on a new position, and within the context of game theory, how to evaluate those chances. All traders and analysts seeking objective bases for trading will want to read this book."
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John Sweeney, Technical Editor, Technical Analysis of Stocks and Commodities magazine
List of contents
What is Game Theory?
Basic Ideas About Financial Markets.
The Interaction Between Price Fluctuations and Risk AcceptanceLevels.
Constructing a Game Theoretic Model.
Understanding the Model.
Treasury Bond Futures.
Appendices.
Index.
About the author
RONALD B. SHELTON is an economist specializing in developing financial applications of game theory. He is currently employed as a Managing Director in the National Accounts Department of Commercial Lines with the Travelers Indemnity Company.
Summary
The first practical trading guide to the revolutionary new science of decision-making According to the Wall Street Journal, "Game theory is hot. " On Wall Street, many of today's most successful high-rollers now use it to help them make crucial buying and selling decisions.
