Description
Book SynopsisThe 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.
Table of ContentsDedication iv
Introduction 1
How This Book Is Organized 2
Male Or Female? 4
Part One Financial Trading for Babes in the Woods 5
1 Invest? Trade? Gamble? 7
An Intelligent Investor 7
An Intelligent Trader 8
An Intelligent Gambler? 12
2 What Markets to Trade? 15
Stocks 16
Futures 18
Options 20
3 The First Steps 25
The External Barriers to Success 25
Getting Your Gear 32
Analysis and Trading 39
Part Two The Three M’S of Successful Trading 45
4 Mind—The Disciplined Trader 47
Sleepwalking Through the Market 49
A Remedy for Self-destructiveness 54
The Mature Trader 61
5 Method—Technical Analysis 67
Basic Charting 68
Indicators—Five Bullets to a Clip 84
6 Trading 123
System Testing 125
Triple Screen Update 128
Day-trading 138
The Impulse System 157
Market Thermometer 162
Exiting Trades 165
Choosing What to Trade 183
7 Money Management Formulas 215
No Math Illiterates 217
Businessman’s Risk vs. Loss. 218
The 2% Solution—Protection From Sharks 220
The 6% Rule—Protection From Piranhas 223
Position Sizing 227
Money Management Steps 230
Part Three Come Into My Trading Room 233
8 The Organized Trader 235
Trader’s Spreadsheet 236
The Equity Curve 238
Trading Diary 240
Action Plan 242
9 Trading for a Living 245
Discipline and Humility 247
Have You Got the Time? 251
The Decision-making Tree 257
Beginner, Semipro, Pro 264
Going Pro 267
10 Come Into My Trading Room 271
Excerpts From the Diary 273
Your Next Trade 298
Acknowledgments 301
Sources 303
Index 307
About the Author 313
