Come Into My Trading Room

The trading bible for the new millenniumIn Come Into My Trading Room, noted trader andauthor 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 overallmanagement of a trader's money, time, and strategy, Dr. Elder takesreaders from the fundamentals to the secrets of being a successfultrader--identifying new, little known indicators that can lead tohuge profits.Come Into My Trading Room educates the novice andfortifies the professional through expert advice and proven tradingmethodologies. This comprehensive trading guide provides a completeintroduction to the essentials of successful trading; a fresh lookat the three M's, including a proven, step-by-step money managementstrategy; and an in-depth look at organizing your tradingtime. Come Into My Trading Room reviews thebasics of trading stocks, futures, and options as well as crucialpsychological tactics for discipline and organization--withthe goal of turning anyone into a complete and successfultrader.By showing traders how to combine the elements of mind, method,and money, Come Into My Trading Room givesreaders the knowledge and insight to enter the market withconfidence and exit with profits. Unparalleled depth and a widerange 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 professionaltrader, technical analysis expert, and practicing psychiatrist. Heis the founder of Financial Trading Inc., providing intensivetrading camps to traders all over the world. Elder's first bookTrading for a Living (Wiley: 0471592242) and the companionstudy guide have sold over 160,000 copies.

Dedication ivIntroduction 1How This Book Is Organized 2Male Or Female? 4Part One Financial Trading for Babes in the Woods 51 Invest? Trade? Gamble? 7An Intelligent Investor 7An Intelligent Trader 8An Intelligent Gambler? 122 What Markets to Trade? 15Stocks 16Futures 18Options 203 The First Steps 25The External Barriers to Success 25Getting Your Gear 32Analysis and Trading 39Part Two The Three M'S of Successful Trading 454 Mind--The Disciplined Trader 47Sleepwalking Through the Market 49A Remedy for Self-destructiveness 54The Mature Trader 615 Method--Technical Analysis 67Basic Charting 68Indicators--Five Bullets to a Clip 846 Trading 123System Testing 125Triple Screen Update 128Day-trading 138The Impulse System 157Market Thermometer 162Exiting Trades 165Choosing What to Trade 1837 Money Management Formulas 215No Math Illiterates 217Businessman's Risk vs. Loss. 218The 2% Solution--Protection From Sharks 220The 6% Rule--Protection From Piranhas 223Position Sizing 227Money Management Steps 230Part Three Come Into My Trading Room 2338 The Organized Trader 235Trader's Spreadsheet 236The Equity Curve 238Trading Diary 240Action Plan 2429 Trading for a Living 245Discipline and Humility 247Have You Got the Time? 251The Decision-making Tree 257Beginner, Semipro, Pro 264Going Pro 26710 Come Into My Trading Room 271Excerpts From the Diary 273Your Next Trade 298Acknowledgments 301Sources 303Index 307About the Author 313