This book will give you insight into the market concepts of a trader who has operated at the highest levels of the industry. Most importantly, Goodwin has dispensed with the complex statistical tools that he is accustomed to working with and has transformed his chapters into models that you can replicate with modest effort. Tradestation users will have a virtual field day cutting through this collection of original ideas on everything from timing the VIX index to scalping the S&P futures.
Those who do not read this book and learn from it will be putting themselves at a severe disadvantage. When you are competing in a zero sum game against statisticians, insider and tremendous financial interests, you had better have an advantage. Goodwin's book goes a long way towards leveling the playing field for the individual trader.
Andrew Goodwin, the author of this treasury of professional trading tactics, knows his trade. In fact, his biography reads like a textbook in the development of a master trader. While earning his Harvard undergraduate degree, Goodwin was the first student at the college to set up a 24 hour trading desk in his dormitory room. Upon earning his degree, Goodwin purchased a seat on the New York Futures Exchange, and unsatisfied with the lack of computer equipment, became the first trader at the exchange to install technical systems equipment.
Before he was twenty-four, Goodwin had landed a job at a prestigious Manhattan based offshore hedge fund. He was given the role of chief technical analyst in a new firm founded by the former Tiger Management Macro Trading team. This was the team that was allocated $1 billion and made $1 billion, a feat that will go down in hedge fund record books. Goodwin executed European and Asian derivatives trades for a fund that amounted to over $400 million. When the team went its separate ways, Goodwin's colleagues went to work for a virtual who's who of Wall Street hedge funds. Some went to work for Michael Steinhardt, others went to Leon Cooperman, and still more went to work for Julian Robertson.
Goodwin made the decision to work for master speculator, Dr. Victor Niederhoffer. As a trader and analyst for Niederhoffer in 1994 and 1995, Goodwin studied the techniques in statistical pattern recognition that have made Niederhoffer the most successful CTA of that time. Goodwin also learned about trading in large size as he executed billion dollar orders in interest rate futures for George Soros' bond traders.
Today, Goodwin is the principal of Goodwin Trading Corporation, an investment advisor registered with the SEC. His clients include non-profit organizations and high net worth private investors. His investors have not had a losing month, but they have racked up double-digit annual returns. Furthermore, Goodwin is a noted patron of several Manhattan cultural institutions.
