Come into My Trading Room: A Complete Guide to Trading Wiley Trading: Amazon.co.uk: Alexander Elder: Books

Product Description

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.

From the Inside Flap

How long will it take you to become a competent trader and how much will it cost?

What markets should you trade and how much can you expect to make?

What rules should you set, what methods should you use, how should you split your trading capital?

If these questions interest you, you picked the right book. Written by a professional trader, an expert in technical analysis, and a practicing psychiatrist, Come Into My Trading Room: A Complete Guide to Trading comes out nine years after Dr. Alexander Elder′s international bestseller Trading for a Living, reflecting his latest discoveries and concepts.

Come Into My Trading Room opens with a brief primer–aptly named Financial Trading for Babes in the Woods–aimed at newcomers, but containing important information for experienced traders. It clarifies topics whose mastery is essential for everyone: what markets to trade, how to interpret financial theories, and how to handle common barriers to success.

Moving up from the basics to the heart and soul of Dr. Elder′s methods, Come Into My Trading Room teaches the three key aspects of trading–Mind, Method, and Money. First, you see that the key to winning is in your mind–discipline. Then you learn how to find the best trades and make the most efficient entry and exit decisions. Dr. Elder shares his favorite analytic tools and covers system testing, day–trading, as well as longer–term swing trading, his new Impulse trading system, and a new SafeZone method for placing stops. These methods will allow you to trade with a high level of confidence in any market–stocks, futures, options, or currencies.

Moving beyond technical analysis, Dr. Elder teaches you the rules of money management that are essential for your survival and success. He shows how to structure your account like a submarine, divided into many compartments, so that it won′t sink if one section becomes flooded. The next section of this comprehensive trading guide–The Organized Trader–takes you where no trading book has ever gone before. It teaches you how to organize your time and effort. You learn to select markets and design a decision–making tree. Good records help you learn from your experiences and rise to a higher level of expertise. Dr. Elder clearly outlines four types of records–three of them looking back and

one looking forward–that are essential for any serious trader.

In the final section of this book, Dr. Elder delivers another first in trading literature–he invites you into his trading room and takes you with him on half a dozen of his recent trades, illustrating entries and exits with charts.

Distilling twenty years of trading and teaching experience, this book will put you on the road to mastering a new way of trading stocks, futures, options, and currencies. By the time you leave Dr. Elder′s trading room, you′ll be in a position to take your trading to a higher, more intelligent, and successful level.

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62 of 62 people found the following review helpful

A comprehensive guide to successful trading 24 May 2004

By C. Burton

Format:Hardcover

I have several trading guides that I find useful. But this is the only "how to" book that not only showed me where I was going wrong and why I was going wrong but gave practical and achieveable advice on what to do about it. I now get better prices using limit orders. OK, I miss some trades (though not as many as you'd think), but there's always another one coming along. It's so much better to get in at a good price - if you get stopped out you lose a lot less, so you don't mind it as much. The 2% and 6% rules of money management have convinced me never again to be a loser. In the past I've made a lot then lost a lot. I now know how to keep most of it while still being able to make a fair bit with the good trades I find. It's also good to get advice on closing trades, which most books gloss over rather. Highly recommended.

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41 of 41 people found the following review helpful

Genuinely excellent 6 Jun 2005

By "jtrend"

Dr Elder is now something of a cult hero among independent traders. Based on multiple readings of 'Trading for a living' and 'Come into my trading room' I would have to say that his status is entirely justified.

Come into my trading room genuinely is an excellent book. Far too many reviewers allocate five stars to trading books nowadays; just search under 'trading' or 'technical analysis' or other trading related terms, and then search by 'av. customer rating' and you'll find a mass of five star rated books. While these are usually ok this book genuinely warrants maximum praise.

By introducing the basics of trading, discussing psychological pitfalls, technical analysis, what markets to trade, money management, time management, together with a glimpse in to Dr Elder's own trading diary, the author really does cover every spectrum of short-term equity/futures trading.

The technical analyis section is larger in 'Trading for a living' but the technical indicators that are covered are done so in sufficient depth. Furthermore, this is a more complete guide than the author's earlier work and the writing style is helpful and simple to understand.

For these reasons, and for the relative cost of the author's books, I believe they both should be essential reading for all beginning traders.

13 of 13 people found the following review helpful

It Was So Good I Bought It Twice 28 April 2007

By G. Smith

That is right! When I lost my copy, I simply had to order a replacement immediately, and at the same time, I have ordered its companion, "Study Guide to Come Into my Trading Room."

I have read many books and taken expensive courses in Financial Trading, and none of them have been as useful or as pragmatic as Dr. Alexander Elders book. I just want to say I feel it has put me on the right track. Thanks for a great book!