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    Step by Step Trading
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    Step by Step Trading
    Unavailable
    Step by Step Trading
    Ebook108 pages1 hour

    Step by Step Trading

    By Dr Alexander Elder

    4.5/5

    ()

    Currently unavailable

    Currently unavailable

    About this ebook

    This brief book will teach you the essentials of computerized technical trading. It will introduce you to self-organization and risk management, but zoom into technical trading tools. We’ll cover indicators, several trading systems, setting profit targets and stops, and much more.

    What’s unique about this book is that all of its charts, tools, indicators, and systems have been programmed and are waiting for you at www.Stockcharts.com. If you have different software, you can still use this book because its concepts are universal.

    DO NOT buy this book if you are a paid-up member of StockCharts – they will give this book to you. If, on the other hand, you’re looking for trading software or have another package you like, this book is definitely for you.

    Most beginners jump into trading unprepared. They remind me of new skiers who hop into a gondola and ride to the top of the mountain without a clue how to ski down its slopes. Even if you already have some experience, you’ll find much that is useful and surprising in this book. On the other hand, if you’re already a professional trader, this may be too basic for you, and I’d refer you instead to my main book, The New Trading for a Living.

    My goal in writing this book was to help you avoid common pitfalls and master the key principles that will serve you for the rest of your trading life. Thanks to StockCharts.com, you’ll be able to start using my templates and tools without delay.

    CONTENTS

    Free updates and the honor code

    INTRODUCTION
    Markets are tough
    Two steps that will put you ahead of the crowd
    How this book is organized
    How to control risk
    Good records make good traders

    TECHNICAL ANALYSIS
    Choosing software (Why StockCharts)
    Let’s create a chart (actually, two charts)
    Dressing a naked chart: a pair of moving averages
    Profits from manic-depression (using envelopes)
    The power of bulls and bears (MACD indicator)
    May the force be with you (Force Index)
    Less is more (other indicators)

    TRADING SYSTEMS
    The trades to avoid (the Impulse system)
    Every trade deserves a name (the system you trade)
    Buying pullbacks in an uptrend
    Catching reversals (false breakout with a divergence)
    An end-of-day trend-following system (by Kerry Lovvorn)
    Trading with fundamentals and technicals (by Philip Wu)

    TRADE MANAGEMENT
    The sweet spot (what timeframe will you trade?)
    Stops, targets, and risk control
    Your visual diary
    The road ahead

    Sources
    Acknowledgments

    Dr. Alexander Elder is a professional trader and a teacher of traders. He is the author of 14 books, including The New Trading for a Living and Come into My Trading Room (Barron’s 2002 Book of the Year), considered modern classics among traders. Dr. Elder is the founder of SpikeTrade whose members compete for best stock picks each week. He is an active trader and a sought-after speaker at conferences in the US and abroad.

    LanguageEnglish
    PublisherDr Alexander Elder
    Release dateMar 30, 2015
    ISBN9780974494258
    Unavailable
    Step by Step Trading
    Author

    Dr Alexander Elder

    Dr. Alexander Elder is a professional trader based in New York City. He is the author of Come into My Trading Room (Barron's 2002 Book of the Year) and Trading for a Living, considered modern classics among traders, as well as a number of other books. Dr. Elder was born in Leningrad and grew up in Estonia, where he entered medical school at the age of 16. At 23, while working as a ship's doctor, he jumped a Soviet ship in Africa and received political asylum in the United States. He worked as a psychiatrist in New York City and taught at Columbia University. His experience as a psychiatrist provided him with unique insight into the psychology of trading. Dr. Elder's books, articles, and software reviews have established him as one of today's leading experts on trading. Dr. Elder is the originator of Traders' Camps—week-long classes for traders, as well as the Spike group. Group members are professional and semi-professional traders who share their best stock picks each week in competition for prizes among themselves. He continues to trade and is a sought-after speaker at conferences in the US and abroad.

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    Reviews for Step by Step Trading

    4.5/5

    22 ratings3 reviews

    What did you think?

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    • 5/5
      This book is very good, i appreciate the content. I would recommend it for people interested in trading. Thanks!
    • 5/5
      I think it's good for beginners - not overcomplicated with good explanations of the step by step trading, just what the title says
    • 5/5
      Reall really nice book, i really learned a lot, thanks a lot Alexander!