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Economy & Finance

The New Trading for a Living

Economy & Finance

The New Trading for a Living

Dr. Alexander Elder

Successful trading relies on disciplined record-keeping, much like tracking your weight to achieve fitness goals. A trade journal is invaluable for documenting decisions, reviewing past trades, and curbing emotional impulses, while monitoring your equity curve helps assess long-term performance and refine strategies. Understanding market behavior is equally crucial—resisting herd mentality and recognizing patterns like support and resistance levels can guide smarter decisions. Avoiding common pitfalls, such as high commissions, slippage, and emotional trading, is essential, as is adhering to risk management rules like the 2% and 6% guidelines to protect capital. Liquidity and volatility are key factors when selecting equities, ensuring trades are seamless and manageable. Finally, mastering bar chart analysis provides insights into market sentiment, helping traders identify optimal entry and exit points. Equipped with these tools, you’re ready to delve deeper into advanced trading techniques.

13 min

8 Bite

Aperçu

De quoi s'agit-il ?

This book delves into the art and science of trading, offering readers a comprehensive guide to mastering the markets with discipline and strategy. It explores essential concepts like record-keeping, market psychology, and risk management, while breaking down technical tools such as chart analysis and equity selection. With vivid historical examples and actionable insights, it equips traders to navigate challenges, avoid common pitfalls, and make informed decisions. Whether you’re a beginner or looking to refine your skills, this engaging resource provides the knowledge needed to trade with confidence and precision.

Résumé du livre

Alexander Elder, M.D., was born in Russia and grew up in Estonia. He entered medical school at age 16 and, at 23, was granted political asylum in the United States. He worked as a psychiatrist in New York City, an experience that gave him unique insights into the psychology of trading. Today, he is a professional trader and trading teacher. His other trading books include Come Into My Trading Room and Sell & Sell Short.

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Toutes les bouchées

8 Bites

Mastering Trading Costs: Avoiding Early Pitfalls

Mastering Discipline: Avoiding Gambling in Trading

Mastering Market Psychology: Outsmarting the Trading Herd

Mastering Market Trends Through Bar Charts

Mastering Market Trends with Support and Resistance

Mastering Equities: Liquidity and Volatility Explained

Mastering Risk: The 2% and 6% Rules

Mastering Trading Discipline Through Record-Keeping

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