Over the years, we have sold more than 25,000 copies worldwide. That was called The Relative Strength Index or better known as the RSI. The book also includes the first momentum oscillator to put all commodities and Stocks on one scale. They were, The Parabolic Time/Price System, The Volatility System (which introduces Average True Range) The Directional Movement System, and the Swing Index System. In the New Concepts book, I introduced four new automatic trading systems. One was the MOVING AVERAGE and the other was Richard Donchian’s WEEKLY RULE. Before I wrote that book, there were just two basic totally automatic trading systems to my knowledge. TJ: How long did it take before you considered yourself successful?Īnd how would you define success? My first real success in the Commodities Industry was in 1978 when I wrote and self published my first book, NEW CONCEPTS IN TECHNICAL TRADING SYSTEMS. For a small price, he would send you several of his writings at a time and allowed one to copy them before sending them back. Then I learned about a man in Wysetta, Minnesota who had collected about everything in print on Technical Trading. The only book I could find in the library about trading was written by a man named Gold. So I stopped trading and began to get into technical analysis.
I began to trade other commodities and I soon learned that one can also lose money trading commodities. I can remember buying a contract of Silver at $1.38 an ounce. I made a lot of money in Silver because I had reason to believe that Silver was going to increase in price. TJ: What was it like when you first started? So, I started to study the art of Commodity Trading. My partners and I agreed on a fair price and suddenly, at 38 years old, I had all the money I needed and nothing to do. In the mean time, I had become interested in trading commodities because they are even more highly leveraged then like Real Estate.
When the apartments were almost finished my two partners wanted to buy my third of the projects.
J welles wilder rsi how to#
I bought an airplane, learned how to fly it, and made the rounds of the five projects about every day. Two other people and I built 1,035 apartments in five cities in North Carolina and Virginia. After seven years of engineering (and building a large Mobile Home Park on the weekends) I left engineering and got into Real Estate and Land development. bill) and graduated with a degree in Mechanical Engineering. After the Navy, I went to North Carolina State Collage (On the G.I. Between high school and collage, I was an automobile mechanic and joined the Navy and became an airplane mechanic. It just so happens that I have had several careers. TJ: Please provide a background of yourself? What were you doing before you become a trader? When and how did you get into trading? Wilder’s systems and methods than any other discipline. Around the world, there are probably more traders using Mr. He has also developed the Delta market timing software, One Day at a Time.
He has written many articles on trading, appeared on numerous radio and television programs, and conducted technical trading seminars in Asia, Australia, Canada, USA, and Europe. These include Average True Range, the Relative Strength Index, Directional Movement and the Parabolic Stop and Reverse. Welles Wilder is best known for his technical indicators – now considered to be core indicators in technical analysis software.