Alexander Elder – Trade book

Entries & Exits: Visits to 16 Trading Rooms (Wiley Trading)

farzan — Sun, 05 May 2019 19:33:25 +0000

Book : Entries & Exits: Visits to 16 Trading Rooms (Wiley Trading)

Come behind closed doors and see real trades made by real traders.

Dr. Alexander Elder leads you into 16 trading rooms where you meet traders who open up their diaries and show you their trades. Some of them manage money, others trade for themselves; some trade for a living, others are on the semi-professional level. All are totally serious and honest in sharing their trades with those who would like to learn. You will meet American and international traders who trade stocks, futures, and options using a variety of methods. All are normally very private, but now, thanks to their relationships with Dr. Elder, you can see exactly how these traders decide to enter and exit trades. Each chapter illustrates an entry and an exit for two trades, with comments by Dr. Elder. With this book as your guide, you can get closer to mastering the key themes of trading—psychology, tactics, risk control, record keeping, and the decision-making process.

The companion Study Guide is filled with striking insights and practical advice allowing you to test your knowledge and reinforce the principles outlined in Entries & Exits.

From the Inside Flap

You are about to visit the trading rooms of sixteen men and women. These traders live in different countries, follow different markets, and use different methods, but all share several traits—most importantly, their dedication to trading. They are utterly serious about their work, while most of the amateurs who supply the bulk of their winnings are chasing the excitement of an adrenaline rush.

Why would a person who is trading for a living talk about his or her method instead of grinding out profits in silence? Winners know full well that success in trading does not depend on knowing “the secret.” There is no secret—only hard work, focus, attention to detail, being careful and long-term oriented with money, and having a bit of flair.

Trading is a vast field, and like a doctor, you must specialize. Many beginners spread themselves painfully thin by investing in and day-trading stocks, futures, and options. Each trader in this book concentrates on an area that appeals to him or her, be it buying breakouts, writing puts, or trolling for dull stocks ready to explode from consolidation zones.

People become successful when they focus on what they love to do. In reading this book, you will probably come across a trading vehicle you like or a concept that appeals to you. Once you find it, stay with it and mine that area for its rich deposits.

There are massive differences between traders at various stages of development. Beginners look for tips, while intermediate traders keep asking about indicator settings. Experienced traders love to watch others make decisions and explain them. Traders in this book will share a wealth of information with you; what you take home is entirely up to you.

Trading can give you money, which can buy many good things—freedom from a boss, the ability to travel wherever and whenever you like, and much more. Still, when the chips are down, it is not money that determines the quality of your life. Your goal in trading should be to become the best professional you can be.

We owe a debt of gratitude to the sixteen traders who opened their trading rooms—helping all of us become better traders and serving as examples of kindness, generosity, and drive. They show us that there is more to life than money, even in a trader’s life. This book is designed to help you break out of isolation, learn from others, pick up ideas that suit your style, and return to your trading room a better, more confident trader.

From the Back Cover

ENTRIES & EXITS

Entries & Exits takes you behind closed doors, into the trading rooms of sixteen private traders. They live in different countries, trade different markets, and use different methods, but all share a dedication to trading. Your guide on this journey is Dr. Alexander Elder, a bestselling author, professional trader, and practicing psychiatrist.

Each visit begins with a description of each trader’s background and methods. He or she walks you through a winning and a losing trade, showing his or her signals on the charts, and explaining the reasoning behind them. After studying the entry, you are invited to decide whether that trade is likely to make or lose money. After you turn the page and see the exit, you learn how that trade worked out. Dr. Elder then shows you his charts for every trade and explains his analysis and decisions. At the end of each interview, he discusses a key aspect of trading, relevant to the trades you have just studied.

Entries & Exits provides an up-close and personal look at how real traders select trades and make decisions. You’ll benefit from their hard-earned insights into trading psychology, analytic techniques, money management, record-keeping, and other essential aspects of successful trading. The book delivers a variety of concepts and techniques that will help you become a better trader tomorrow than you are today.

Study Guide for Entries & Exits

Be sure to work through the companion volume to Entries & Exits before you risk a dollar in the markets. The Study Guide contains 101 questions and answers, including twenty-five case studies. Each of them challenges you to focus on some essential aspect of successful trading.

There are seven chapters in this Study Guide—Organization, Psychology, Markets, Trading Tactics, Money Management and Record-Keeping, Case Studies, and Traders Speak. Each covers a major area of trading and offers you a rating scale, allowing you to measure your competence level. Now you can discover and fill any gaps in your knowledge without risking any money.

The answers in the back of the book provide detailed explanations of the right and wrong answers to the multiple-choice questions. A large number of those questions and the case histories in this Study Guide were contributed by traders interviewed in Entries & Exits, linking both books into a single, powerful tool for developing trading skills.

Use Dr. Elder’s Study Guide together with Entries & Exits to make the most of your time as you learn to take advantage of market opportunities.

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The New Sell and Sell Short: How To Take Profits, Cut Losses, and Benefit From Price Declines

farzan — Sat, 04 May 2019 21:26:35 +0000

Book : The New Sell and Sell Short: How To Take Profits, Cut Losses, and Benefit From Price Declines

A detailed look at one of the most underestimated aspects of trading-selling

In The New Sell and Sell Short, Second Edition, Dr. Alexander Elder explains how to exit a stock at the right time and how to initiate a short position to profit from a stock that is showing weakness. Often overlooked, selling properly enables a trader to cut losses and maximize profits. Moreover, short selling in a weak market can generate big profits and should be a part of every trader’s arsenal of tools. The new edition contains numerous examples of short selling stocks from the 2008-2009 bear market, demonstrating very clearly why traders do themselves a disservice by only focusing on the long side. In addition, the new edition contains an extensive study guide to help readers master the material prior to trading.

Elder shares real-world examples that show how to manage your positions by adjusting your exit points as a trade unfolds.

Contains new examples and insights from the 2008-2009 market meltdown
Includes an extensive study guide with 115 questions and answers and 17 chart studies
Discusses the selling process from a variety of angles: technical, fundamental, and psychological
Explains how to maximize winnings in a profitable trade and how to minimize losses when a trade doesn’t go as planned
Offers detailed guidance for traders of stocks, financial futures, commodities, and currencies
Explains how to set profit targets and stop-loss orders prior to entering any trade Other bestselling titles by Elder: Trading for a Living, Come Into My Trading Room, and Entries and Exits

Understanding where and when to sell is essential to successful trading. The New Sell and Sell Short, Second Edition is the definitive reference to this overlooked, but vitally important, aspect of trading.

From the Back Cover

THE NEW SELL & SELL SHORT EXPANDED SECOND EDITIONAny beginner in the stock market knows how to buy. Knowing when to sell will set you above the crowd. This book will teach you when to sell and how to sell short.Stocks go down much faster than they rise, and knowing how to short doubles your opportunities. Amateurs don’t know how to short and are afraid of it, but professionals love to profit from declines.

This new and expanded edition includes an intensive study of the 2007–2009 bear market, with many specific trading examples, distilling the essential lessons of recent years.

“Elder clearly shows how to take profits on winning trades or cut losing trades. He skill fully combines technical analysis with trading psychology and risk management. Elder lets you in on a favorite game of market professionals — shorting overvalued stocks. His trading lessons from the recent crash are valuable and practical.”
—John J. Murphy, author of Technical Analysis of the Financial Markets

“The New Sell & Sell Short delivers practical techniques for selling and shorting. In his relaxed style, colored with humor, Alex details strategies for limiting risk and protecting profits. My favorite is what he calls ‘engine noise,’ illustrated in a great study of Ford. His chapters on shorting tops and downtrends make difficult tasks accessible to all. This is an indispensable book for investors and speculators alike.”
—David Weis, trader and author of Trades about to Happen

“Dr. Alexander Elder is one of the world’s most respected teachers of trading mastery. I’ve read hundreds of books on trading and consider his writings to be among the most valuable and useful. Traders who do not know when to sell or how to profit from price declines keep missing major opportunities and expose themselves to unnecessary risks. The New Sell & Sell Short should be required reading for any serious trader or investor.”
—Ed Dobson, founder of Traders Press Inc. and a private, full-time trader

About the Author

DR. Alexander Elder is a professional trader, a teacher of traders, and a psychiatrist. He is the founder of elder.com and SpikeTrade.com—both of which provide educational services to traders worldwide. Dr. Elder is the author of three bestselling books, Trading for a Living (translated into more than a dozen languages), Come Into My Trading Room (2002 Barron’s Book of the Year), and Entries and Exits (2007 SFO Magazine Book of the Year).

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The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management

farzan — Wed, 26 Dec 2018 10:43:59 +0000

Book : The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management

The best-selling trading book of all time—updated for the new era

The New Trading for a Living updates a modern classic, popular worldwide among both private and institutional traders. This revised and expanded edition brings time-tested concepts in gear with today’s fast-moving markets, adding new studies and techniques for the modern trader.

This classic guide teaches a calm and disciplined approach to the markets. It emphasizes risk management along with self-management and provides clear rules for both. The New Trading for a Living includes templates for rating stock picks, creating trade plans, and rating your own readiness to trade. It provides the knowledge, perspective, and tools for developing your own effective trading system.

All charts in this book are new and in full color, with clear comments on rules and techniques. The clarity of this book’s language, its practical illustrations and generous sharing of the essential skills have made it a model for the industry—often imitated but never duplicated. Both new and experienced traders will appreciate its insights and the calm, systematic approach to modern markets.

The New Trading for a Living will become an even more valuable resource than the author’s previous books:

Overcome barriers to success and develop stronger discipline
Identify asymmetrical market zones, where rewards are higher and risks lower
Master money management as you set entries, targets and stops
Use a record-keeping system that will make you into your own teacher

Successful trading is based on knowledge, focus, and discipline. The New Trading for a Living will lift your trading to a higher level by sharing classic wisdom along with modern market tools.

Why teach?

Why not simply stay in front of the screen and quietly grind out profits?

Whenever I hear this question, I say: “Preaching is good for the preacher.” Showing specific chart patterns and stressing the need for discipline reinforces my own performance.

To master a concept you have to be able to teach it to others.If you can’t explain what you think you know, then you really don’t know it.

Once or twice each year I run a live trading workshop with Kerry Lovvorn, my partner in SpikeTrade.com. At the time of this writing ,we had six such workshops, traded our accounts in each of them, and both of us made money in all six classes.

If you were to take six random days from my trading, I wouldn’t be able to deliver 100% profitability. Neither would Kerry –but we’ve done it in our classes because working in front of a group creates extra pressure to succeed. That’s what I mean when I say that preaching is good for the preacher.

Read this book carefully, take notes, test its lessons on your own data. I want this book to help you as much as writing it helped me.

-Dr. Alexander Elder

From the Back Cover

The best-selling trading book of all time – updated for the new era

The New Trading for a Living updates a modern classic ,popular worldwide among both private and institutional traders.This revised and expanded book brings time-tested concepts in gear with today’s fast-moving markets, adding new studies and techniques for the modern trader.

This classic guide teaches a calm and disciplined approach to the markets. It emphasizes risk management along with self-management and provides clear rules for both. The NewTrading for a Living includes templates for rating stock picks ,creating trade plans, and evaluating your readiness to trade. It provides the knowledge, perspective, and tools for developing your own effective trading system.

All charts in this book are current, in full color, with clear comments on rules and techniques. The clarity of this book’s language, its practical illustrations, and generous sharing of the essential skills have made it a model for the industry – often imitated but never duplicated. Both new and experienced traders will appreciate its insights and the calm, systematic approach to modern markets.

The New Trading for a Living will become an even more valuable resource than the author’s previous books:

Overcome barriers to success and develop stronger discipline
Identify asymmetrical market zones, where rewards are higher and risks lower
Master money management as you set entries, targets, and stops
Use a record-keeping system that will make you into your own teacher

Successful trading is based on knowledge, focus, and discipline.The New Trading for a Living will lift your trading to a higher level by sharing classic wisdom along with modern market tools.

Study Guide for the New Trading for a Living

You may read the best trading book, but how much of that knowledge will you retain a week later? This is why you need theStudy Guide for The New Trading for a Living, created by its author to help you master the key points of his new book.

The Study Guide’s 170 multiple-choice questions are divided into 11 chapters, each with its own rating scale. They cover the entire range of trading topics, from psychology to system design, from risk management to becoming an organized trader. Each question is linked to a specific chapter in the main book, while the Answers section functions like a mini-textbook with extensive comments on both the correct and incorrect answers.

This Study Guide also contains 17 charts that challenge you to recognize various trading signals and patterns.

The Study Guide for The New Trading for a Living is avaluable resource for any trader who wants to achieve sustainable market success.

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Trades About to Happen: A Modern Adaptation of the Wyckoff Method

farzan — Thu, 06 Dec 2018 18:09:32 +0000

Book : Trades About to Happen: A Modern Adaptation of the Wyckoff Method

The definitive book on adapting the classic work of Richard Wyckoff to today’s markets

Price and volume analysis is one of the most effective approaches to market analysis. It was pioneered by Richard Wyckoff ,who worked on Wall Street during the golden age of technical analysis. In Trades About to Happen, veteran trader David Weis explains how to utilize the principles behind Wyckoff’s work and make effective trades with this method.

Page by page, Weis clearly demonstrates how to construct intraday wave charts similar to Wyckoff’s originals, draw support/resistance lines, interpret the struggle for dominance in trading ranges, and recognize action signals at turning points.

Analyzes markets one bar chart at a time, which recreates the ambiguity of actual trading
Emphasizes reading price/volume charts without a secondary reliance on mathematical indicators
Includes a short study guide in the appendix to help readers master the material

Filled with in-depth insights and practical advice, TradesAbout to Happen promises to be the definitive work on utilizing Wyckoff’s classic methods in today’s turbulent markets.

From the Inside Flap

While Richard Wyckoff’s search to develop a “trained judgment”for trading began decades ago, his method—which has been modified to account for changes in market conditions, but remains true to his original work—continues to draw great interest from traders around the world.

Author David Weis is a trader and market analyst with nearly forty years of experience in this field. A recognized authority onthe trading methods of Richard Wyckoff, he understands how to utilize the principles behind Wyckoff’s work and make effective trades with them. And now, with Trades About to Happen, he skillfully reveals how to adapt Wyckoff’s techniques to excel intoday’s volatile markets.

Engaging and accessible, this reliable resource looks at Wyckoff’s approach from a more modern perspective and shows how youcan logically interpret bar charts and wave charts to find trades about to happen. By studying the chart examples in this book, you’ll gain tremendous insight into reading what markets are saying about themselves and develop the ability to locate turning points of different degrees. Page by page, Weis facilitates your learning by:

Comparing efforts of buying or selling with there ward—volume versus upward or downward progress
Considering the meaning of the close within the range of a price bar
Looking for shortening of upward or downward thrust as well as follow-through, or lack of follow- through, after penetrations of support resistance
Exploring the interaction of price with trend lines, channels, and support/resistance lines—which often highlight theprice/volume story
Watching for tests of high-volume or “vertical” areas where price accelerates upward or downward
And much more

Along the way, Weis introduces the adaptations he has made to Wyckoff’s original tape-reading tools—which are better suited for the enormous volatility of today’s stock and futures markets—and can be applied to intraday and daily price movement.

When it comes to Wyckoff analysis, it’s easy to forget that the world of chart reading is not black or white, but gray. One has tohave an open mind rather than a fixed, pre-conceivedideal .Trades About to Happen will help you achieve this goal as you discover how to develop the feel and intuition of a successful trader and become better equipped at adapting the Wyckoff method to today’s dynamic markets.

From the Back Cover

Praise for Trades About to Happen

“I first heard David speak over thirty years ago and immediately was interested in his work. His explication of the Wyckoff method is the best there is. I was so inspired by David’s oratory that Iimmediately went to work to quantify and automate his ideas. It has been an important part of our firm’s success over the years.”
—TOBY CRABEL, Crabel Capital Management

“Having worked with some of the great technicians over my nearly thirty years in the hedge fund industry and on Wall Street, I feel qualified to wholeheartedly endorse David Weis’s book and teachings. His four decades of experience as a student and practitioner of Wyckoffian principles—effort vs. result,support and resistance, how to follow professional money in the markets—make his book an invaluable read. Weis reveals proprietary tools that he uses to great advantage in the markets and that build on and advance the methods taught by Richard Wyckoffover 100 years ago. Weis’s approach to chart analysis and tape reading will help simplify and clarify the supply-demand dynamics underlying stocks and futures and provide ample clues to their next move.”
—PETER DRITTEL, PMD Trading LLC

“When I first met David Weis, I realized immediately that his reputation as one of the world’s greatest teachers and experts in the Wyckoff trading method was well deserved. His adaptation ofWyckoff’s tape-reading chart into the Weis Wave indicator is amajor contribution. Traders who want to learn how to recognize the large operators’ footprints on a chart will want to read TradesAbout to Happen. This book is destined to become aclassic.”
—GAVIN HOLMES, CEO, TradeGuider SystemsInternational

“Hands down, David’s Wave Chart is the most valuable trading tool I know.”
—Dr. GARY DAYTON, Trading Psychology Edge

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Come Into My Trading Room: A Complete Guide to Trading

farzan — Sun, 07 Oct 2018 11:49:26 +0000

Book : Come Into My Trading Room: A Complete Guide to Trading

The trading bible for the new millennium

In Come Into My Trading Room, noted trader and author Dr. Alexander Elder returns to expand far beyond the threeM’s (Mind, Method, and Money) of his bestselling Trading for aLiving. Shifting focus from technical analysis to the overall management of a trader’s money, time, and strategy, Dr. Elder takes readers from the fundamentals to the secrets of being a successful trader–identifying new, little known indicators that can lead to huge profits.

Come Into My Trading Room educates the novice and fortifies the professional through expert advice and proven trading methodologies. This comprehensive trading guide provides a complete introduction to the essentials of successful trading; a fresh look at the three M’s, including a proven, step-by-step money management strategy; and an in-depth look at organizing your trading time. Come Into My Trading Room reviews the basics of trading stocks, futures, and options as well as crucial psychological tactics for discipline and organization—with the goal of turning anyone into a complete and successful trader.

By showing traders how to combine the elements of mind, method ,and money, Come Into My Trading Room gives readers the knowledge and insight to enter the market with confidence and exit with profits. Unparalleled depth and a wide range of coverage will keep all levels of traders engaged ,informed, and returning to Come Into My TradingRoom again and again.

Dr. Alexander Elder (New York, NY) is a professional trader, technical analysis expert, and practicing psychiatrist. He is the founder of Financial Trading Inc., providing intensive trading camps to traders all over the world. Elder’s first bookTrading for a Living (Wiley: 0471592242) and the companion study guide have sold over 160,000 copies.

A Complete Guide to Trading

You can become a successful trader. It has been done before, and it is being done right now, today, by people around the world. If you enjoy learning, if you are not scared of risk, if the rewards appeal to you, and if you are prepared to put in the work, you have a great project ahead of you.

In Come Into My Trading Room: A Complete Guide toTrading, Dr. Alexander Elder takes you far beyond the three M’s(Mind, Method, Money) of his international bestseller Trading for a Living. He teaches you to manage your money and time, as well as strategy, so that you can enter the markets with confidence and exit with profits. This essential book educates the novice and gives more power to the professional through expert advice, proven trading methods, and something entirely unique—a visit to Dr.Elder’s own trading room. You get to follow him through several actual trades, whose entries and exits illustrate many of the key concepts of this book.

Come Into My Trading Room offers:

A complete introduction to trading essentials
An overview of trading psychology, both individual and mass psychology of the markets
A practical overview of technical analysis, including new indicators and systems
A step-by-step guide to risk control and money management
Exact instructions for keeping records and organizing your time
A visit to Dr. Elder’s private trading room, reviewing several of his recent trades

Be sure to work through the companion volume to this book—Study Guide for Come Into My TradingRoom—before you risk a dollar in the markets. The Study Guide features 100 questions and answers and almost 50 charts to test your knowledge. Grade yourself to make sure you know enough about the nine key areas of trading. Work through eight case histories, select entry and exit points, and find out how well you understand what needs to be done in every trade. Use Dr. Elder’sStudy Guide to make sure that you can measure up to your competitors and surpass them.

Come Into My Trading Room will help you master a new way of trading stocks, futures, options, and currencies. Unparalleled depth and a wide range of coverage give you the best chance to become the trader you’ve always wanted to be.

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Step by Step Trading: The Essentials of Computerized Technical Trading

farzan — Thu, 07 Jun 2018 13:03:35 +0000

Book : Step by Step Trading: The Essentials of Computerized Technical Trading

This brief book will introduce you to self-organization and risk management, but zoom into technical trading tools. We’ll cover indicators, several trading systems, setting profit targets and stops, and much more.

What’s unique about this book is that all of its charts, tools, indicators, and systems have been programmed and are waiting for you at www.Stockcharts.com. If you have different software, you can still use this book because its concepts are universal.

DO NOT buy this book if you are a paid-up member of StockCharts – they will give this book to you. If, on the other hand, you’re looking for trading software or have another package you like, this book is definitely for you.

Most beginners jump into trading unprepared. They remind me of new skiers who hop into a gondola and ride to the top of the mountain without a clue how to ski down its slopes. Even if you already have some experience, you’ll find much that is useful and surprising in this book. On the other hand, if you’re already a professional trader, this may be too basic for you, and I’d refer you instead to my main book, The New Trading for a Living.

My goal in writing this book was to help you avoid common pitfalls and master the key principles that will serve you for the rest of your trading life. Thanks to StockCharts.com, you’ll be able to start using my templates and tools without delay.

CONTENTS

Free updates and the honor code

INTRODUCTION
Markets are tough
Two steps that will put you ahead of the crowd
How this book is organized
How to control risk
Good records make good traders

TECHNICAL ANALYSIS
Choosing software (Why StockCharts)
Let’s create a chart (actually, two charts)
Dressing a naked chart: a pair of moving averages
Profits from manic-depression (using envelopes)
The power of bulls and bears (MACD indicator)
May the force be with you (Force Index)
Less is more (other indicators)

TRADING SYSTEMS
The trades to avoid (the Impulse system)
Every trade deserves a name (the system you trade)
Buying pullbacks in an uptrend
Catching reversals (false breakout with a divergence)
An end-of-day trend-following system (by Kerry Lovvorn)
Trading with fundamentals and technicals (by Philip Wu)

TRADE MANAGEMENT
The sweet spot (what timeframe will you trade?)
Stops, targets, and risk control
Your visual diary
The road ahead

Sources
Acknowledgments

Dr. Alexander Elder is a professional trader and a teacher of traders. He is the author of 14 books, including The New Trading for a Living and Come into My Trading Room (Barron’s 2002 Book of the Year), considered modern classics among traders. Dr. Elder is the founder of SpikeTrade whose members compete for best stock picks each week. He is an active trader and a sought-after speaker at conferences in the US and abroad.

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