This is 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 three M's (Mind, Method, and Money) of his bestselling "Trading for a Living". 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 Trading Room" 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 book "Trading for a Living" (Wiley: 0471592242) and the companion study guide have sold over 160,000 copies.
Dedication
Introduction
How this book is organized
Male or female?
PART ONE: FINANCIAL TRADING FOR BABES IN THE WOODS
1. Invest? Trade? Gamble?
An intelligent investor
An intelligent trader
An intelligent gambler?
2. What markets to trade?
Stocks
Futures
Options
3. The first steps
The external barriers to success
Getting your gear
Analysis and trading
PART TWO: THE THREE 'M's OF SUCCESSFUL TRADING
4. Mind - the disciplined trader
Sleepwalking through the market
A remedy for self-destructiveness
The mature trader
5. Method - technical analysis
Basic charting
Indicators - five bullets to a clip
6. Trading
System testing
Triple screen update
Day-trading
The impulse system
Market thermometer
Exiting trades
Choosing what to trade
7. Money management formulas
No math illiterates
Businessman's risk vs. Loss
The 2% solution - protection from sharks
The 6% rule - protection from piranhas
Position sizing
Money management steps
PART THREE: COME INTO MY TRADING ROOM
8. The organized trader
Trader's spreadsheet
The equity curve
Trading diary
Action plan
9. Trading for a living
Discipline and humility
Have you got the time?
The decision-making tree
Beginner, semipro, pro
Going pro
10. Come into my trading room
Excerpts from the diary
Your next trade
Acknowledgments
Sources
Index
About Alexander Elder
ALEXANDER ELDER, MD, is a professional trader, an expert in technical analysis, and a practicing psychiatrist. He is the founder of Financial Trading Inc., a firm that provides intensive trading camps for traders worldwide. Dr. Elder's first book, Trading for a Living, and its companion Study Guide have sold over 160,000 copies in English and were translated into nine languages. Dr. Elder's Web site is www.elder.com.
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