Investment Online Trading Made Easy

A Random Walk Down Wall Street

noreply@blogger.com (I Trade 4 Living) — Wed, 08 Jul 2009 01:34:00 +0000

This is a classic book, first published in 1973. The 9th edition just came out this year. Every investor, whether you believe in market efficiency or not, should read this book at least once. This book does a very good job reconciling between market efficiency and perceived inefficiencies such as bubbles at different times. The author believes in a weak form of efficient market theory. Simply put, the market may not be perfectly efficient at all times, but it's efficient enough to make it very difficult and costly trying to beat it. In the end, an investor is better off holding a market index fund that invests in everything under the sun. It's not worth the cost and effort trying to find the undervalued stocks or high-growth mutual funds.

The book begins with two basic stock valuation models -- Firm Foundations and Castles in the Air. It goes on with a review of bubbles and manias throughout history, from more ancient history -- tulip craze in the Netherlands, the South Sea bubble in England, the 1929 Great Crash in the U.S. -- to the stock market anomalies from the 1960s, 1970s, all the way to the late 1990s dot com bubble. The book then introduces two basic camps of stock valuation analysis: Technical Analysis and Fundamental Analysis. It shows how both Technical Analysis and Fundamental Analysis fail to identify outstanding investment opportunities more than what an efficient market already provides. Not that you can't make money with Technical Analysis and/or Fundamental Analysis, but you can't make more money than what you already can with investing in a market index fund.

The chapter on behavioral finance is new for the 9th edition. It reviews how investors often become their own worst enemy when it comes to investing. The book "Why Smart People Make Big Money Mistakes And How To Correct Them" (ISBN 0684859386) covers this area in more details.

The final section of this book is the practical part. It gives practical advice on insurance, tax deferred accounts, saving for college, different vehicles for cash reserves, bonds, real estate, and stock mutual funds. Finally the book lists specific portfolio and fund recommendations for people in different stages of their lives.

Overall, this is a great book, a must read for every investor. It is however a little long and it requires some patience because it explains everything in details. If you want to cut to the chase and prefer a cookbook approach, I recommend the shorter book "The Random Walk Guide to Investing" (ISBN 039332639X) by the same author. The basic premise is the same in both books. The shorter "The Random Walk Guide to Investing" condenses everything into 3 basic points and 10 rules. It is about 200 pages long. The full book "A Random Walk Down Wall Street" is over 400 pages.

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Overcoming the Five Dysfunctions of a Team by Patrick M. Lencioni

noreply@blogger.com (I Trade 4 Living) — Sun, 08 Mar 2009 02:01:00 +0000

Overcoming the Five Dysfunctions of a Team by Patrick M. Lencioni

The author has backed up his book "The Five Dysfunctions of a Team" with a valuable field bookthat helps in clearly understanding the dynamics underlying team work. The critical importance of Trust, Conflict, Commitment, Accountability and Results inbuilding a teamis presented through a fascinating model focusing on dysfunctions of the said elements. The fluid style of narration through experiential cases, simple in depth analysis of the positives as well as the negatives and the alternatives available forrejuvenating these elements in the team provide an easy conceptual support to professionals engaged in organization development.

Trust and Trustworthiness, critical elements for effective team work, is normally notgiven the desired priority by most leaders and line managers. The book opens our eyes through apt examples of unsuccessful leaders who do not care for building trust in thier organizations. Based on these examples, insight is provided on how one can build trust and the what one needs to understand to establish sustenance.Alternatives that could take the team to the right direction have been provided with simple yet convincing illustrations and tools.

Conflicthas been addressed through a positive perception that there is something known as good conflict and this has a deep connect with Trust. The bold methods for conflict resolution through proactive engagement of teams in healthy debatesis extremely positive in looking at ways of nurturing a team. Similarly, the elements of Commitment, Accountabilty and Results have been clearly amplifiedwith a strong message that all these elementshave their own identity as well as a strong linkage with each other, reinforcing the pyramid model used to depict the five dysfunctions of a team.

For facilitators, the selfless way with which the author has sought to share the exercises is an example of how open sharing helps in convincing people and building trust.The concept of Team building and team workprocesseshas been presented in a manner that is practical and achievable.

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Option Trading Tips - Free Trading Ebooks for Day Trading | Swing Trading

noreply@blogger.com (I Trade 4 Living) — Fri, 20 Feb 2009 06:01:00 +0000

Is it possible to obtain wealth from trading options?

Answer 1:
Theoretically yes.
However MOST people accumulate wealth by investing. Trading options or forex is speculating, not investing. In other words, it is gambling. You can be well skilled and educated and still lose your behind very,very quickly.
Such trading is at the top of the risk charts, so yes, potential returns can be impressive but they come with a very sharp potential for a complete loss.
When you invest in stocks, bonds or mutual funds, you still have a risk of loss, but the odds of a total loss are slim, and you usually have time to get out before suffering a huge loss (unless you are also speculating with high volatility stocks).
Investing is not speculating. Investing combines an educated guess (no one really can guarantee a profit) with a moderation of risk. A lot of research shows that most investors do not do better by taking on higher than average risks. In other words, slower and steady wins the race.
As to tax issues. There are no benefits to short-term trading of any security. In fact all profits are taxed at your highest marginal rate. This is one more reason why trading rarely results in huge profits. By the time you subtract ticket charges and taxes you have to have a really big profit for you to end up with a better after tax return.
There are conservative strategies for options when combined with stocks you own. These strategies can add income to your portfolio without being significantly speculative.
People build genuine wealth by staying out of debt, by spending less than they earn, and by investing the difference wisely. If you start this as young as possible and routinely increase the amount you are saving and investing, you will build significant wealth.
However, just as with playing in Vegas, speculating is gambling and while a few walk away long term winners, it is ONLY a few that do win. In the short term, anyone can have a measure of luck, but in the long run, it is pretty rare.
The traders that survive on options and forex are big boys, with big wells of cash and years of training (and losing) behind them. They survive as much off the thrill as the wins.
But understand this, any wealthy trader is never playing with his full pot. He still has most of his assets in more secure investments. In fact, studies have shown that those that take the biggest risks with some of their money, have most their money in ultra-conservative investments. This is how they balance the high risk choices they make.
But if you're still determined, start reading, take a class and paper trade (trading simulation) for several months so you can establish techniques and indicators that work for you. Until you have both skill and discipline, you might as well just take a lighter to your money.

What is your answer?

Free Trading Ebooks:

Books shared here are for reference only. After download, you should delete it from your PC after 24 hours. If you like the books, please purchase the original copy.

101 Option Trading Secrets
Japanese Candlestick Charting Techniques - Steve Nison
Beyond Candlesticks - Steve Nison
The Candlestick Course - Steve Nison
Trading for a Living - Elder , Alexander

Trading Education - Upcoming Ebook on Option Trading

noreply@blogger.com (I Trade 4 Living) — Sun, 15 Feb 2009 06:45:00 +0000

Get your free online trading education here.
Here are the list of upcoming options ebooks going to be online in this blog. If you want to copy ealier, please post your comment here.

Trading Tips: Why Most People Failed

noreply@blogger.com (I Trade 4 Living) — Tue, 10 Feb 2009 13:18:00 +0000

Have you ever wonder why 95% of new traders failed in making money through trading in any financial instruments despite they are many advanced charting software in the market and the online brokerage fees are low.

As you can see, the problem is not a result of what the market has done nor the types of products or services the traders are using. The main issue here is all about the trader himself/herself and nothing else.

For any new traders who want to start their own trading business, below are five main areas that they would have to work on.

1. Know yourself

First thing first, knowing yourself is the most important aspect of trading. As mentioned in Most Important Thing, getting to know yourself will save you from unnecessary fear and stress.

2. Mindset

Very often, people jumped into trading after attending some seminars or workshops, thinking that it is a get-rich-quick scheme. Well, in reality, it is far from that.

Just like any other businesses, you have to treat trading as a business regardless whether you are doing it full-time or part-time. This means a business plan is needed as well as lots of hard work in order to make it a success.

3. Trading Plan

By and large, trading plan is the most important aspect of actual real money trading.

In any trading plan, the following items have to be documented clearly prior to using the plan.

- Objectives : How much you want to make

- Instrument : Stocks, Futures, Options or combination

- Time frame : Day Trade, Swing Trade, Position Trade

- Setup : Chart type, Indicators, Patterns

- Entry : Breakout, Pullback, Strike price

- Exit : Initial cut-loss, Trailing stop, Target

- Risk Control : Scale in, Scale out, Rollover

- Money Management : Capital allocation, Sizing

Any trading plan should be on going and constantly evolving to meet your goals. Of course, things will have to be developed over time as you gain more knowledge experience.

4. Discipline

Does knowing yourself well, getting the right mindset and having a detailed trading plan guarantee success in trading. Well, the answer is almost a ‘YES’ if the trader has the discipline to follow the plan faithfully regardless of any situations or conditions.

However, if the trader does not has the discipline, for example, to cut loss where he/she has to, then there is no point having a complete trading plan but never gets to follow the rules stated in it.

So, always remember this : “Plan your trade and trade your plan”.

Failure to do so means the trader is planning to fail!

5. Perseverance

In trading and investing, no one has ever won 100% of the time. In fact, for new traders, they were always a time in the beginning where he/she felt dishearted by the number of lossing trades and the amount of money lost in trading.

From that point onwards, three scenarios could happen. In the first scenario, the trader quit immediately thinking that trading is a scam or felt that trading is not suitable for him/her. In the second scenario, the trader continues to learn and put in more effort to improve his/her trading. However, as time passed and not much improvement are seen, this trader too gave up and quit.

In the last scenario, the trader continue to do whatever it takes and treat every failure as a valuable feedback. With all the hardwork and perseverance, the trader continue to fine tune his/her mindset, plan and methods until the day where vast improvement and success is seen.

Finally, I would want to end this section with a quote from Albert Einstein:

The definition of insanity is doing the same thing over and over and expecting different results.

Rich Dad's Guide to Investing: What the Rich Invest in, Robert Kiyosaki

noreply@blogger.com (I Trade 4 Living) — Wed, 23 Apr 2008 01:42:00 +0000

Product Description

From Amazon.com
The rich are different from the rest of us, if for no other reason than U.S. tax and securities laws allow them to invest in ways that keep us from catching up to them. That's why 90 percent of all corporate shares of stock are owned by 10 percent of the people. Kiyosaki believes it's possible for anyone to move up into that 10 percent, but it takes a different view of investing than most people have: it takes a plan to be a successful investor. And a plan is more than simply buying and selling, or collecting "assets" that bring in no cash and are thus more akin to liabilities. The way most people invest, "they might as well be pushing a wheelbarrow in a circle," he writes. A plan is "mechanical, automatic, and boring," a formula for success that has worked historically for most of those who've used it. Kiyosaki's "rich dad" (actually, the father of his best friend) tells him the simplest analogy is the game Monopoly: buy four green houses, trade them for one red hotel, and repeat until you become rich. The overall message of Rich Dad's Guide to Investing is that this is an abundant world, full of opportunity for the sophisticated investor. However, it sometimes takes a while to find this point. Much of the book is told in dialogues between young Kiyosaki and his rich dad, and these conversations can ramble. There are rewards for the careful reader--for example, in the middle of a section on the basic rules of investing, Kiyosaki's rich dad compares investor education to toilet training: difficult at first but eventually automatic. But getting to these inspired metaphors means wading through a lot of repetitive dialogue. It's a bit ironic that someone who advocates investor discipline should show so little as a writer. But by the end of the book, even the rambling starts to make sense. By the hundredth time you read that the rich don't work for money, and that you don't need money to make money, both concepts start to make sense. It still looks difficult to apply these ideas, but Rich Dad's Guide to Investing certainly makes the case that they'll work for anyone bold and smart enough to practice them. --Lou Schuler

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denver attorney

noreply@blogger.com (I Trade 4 Living) — Thu, 28 Feb 2008 10:19:00 +0000

Finding a Denver Attorney

Denver colorado lawyer directory offers a simple way to locate attorneys, court reporters, private investigators, process servers & other legal support.

If you are searching for a Denver lawyer or law firm, you have come to the right place. The Denver lawyer directory will provide you with an attorney database that is up-to-date and simple to use. From the attorney listings you can begin your research on lawyers in Denver (or other areas) in practice areas such as Personal Injury, Family Law, Bankruptcy, Business Law, Criminal Law and Immigration Law (to name a few), by clicking on the Web site links provided. Then, all you have to do is simply email, call or fill out the contact form on the attorney's Web site to get help fast.

What is a Lead Counsel Rated Attorney?

While searching you will see the Lead Counsel Designation next to certain attorney listings. Lead Counsel Members:

Have passed LawInfo.com, Inc.'s qualification process
Have had at least three favorable peer references
Are in good standing with their respective bar associations

In short, Lead Counsel Members have been researched by LawInfo.com, Inc. to make it easier for you to find the right attorney.

Click Here to Get More Information about the Lead Counsel Program

To begin your search for a Lead Counsel Lawyer, click on our Attorney Directory to browse through hundreds of practice areas. This page features our Denver Attorney Directory listings.

A Random Walk Down Wall Street:

noreply@blogger.com (I Trade 4 Living) — Mon, 23 Apr 2007 01:52:00 +0000

A Random Walk Down Wall Street:This is a classic book, first published in 1973. The 9th edition just came out this year. Every investor, whether you believe in market efficiency or not, should read this book at least once. This book does a very good job reconciling between market efficiency and perceived inefficiencies such as bubbles at different times. The author believes in a weak form of efficient market theory. Simply put, the market may not be perfectly efficient at all times, but it's efficient enough to make it very difficult and costly trying to beat it. In the end, an investor is better off holding a market index fund that invests in everything under the sun. It's not worth the cost and effort trying to find the undervalued stocks or high-growth mutual funds.

The book begins with two basic stock valuation models -- Firm Foundations and Castles in the Air. It goes on with a review of bubbles and manias throughout history, from more ancient history -- tulip craze in the Netherlands, the South Sea bubble in England, the 1929 Great Crash in the U.S. -- to the stock market anomalies from the 1960s, 1970s, all the way to the late 1990s dot com bubble. The book then introduces two basic camps of stock valuation analysis: Technical Analysis and Fundamental Analysis. It shows how both Technical Analysis and Fundamental Analysis fail to identify outstanding investment opportunities more than what an efficient market already provides. Not that you can't make money with Technical Analysis and/or Fundamental Analysis, but you can't make more money than what you already can with investing in a market index fund.

The chapter on behavioral finance is new for the 9th edition. It reviews how investors often become their own worst enemy when it comes to investing. The book "Why Smart People Make Big Money Mistakes And How To Correct Them" (ISBN 0684859386) covers this area in more details.

The final section of this book is the practical part. It gives practical advice on insurance, tax deferred accounts, saving for college, different vehicles for cash reserves, bonds, real estate, and stock mutual funds. Finally the book lists specific portfolio and fund recommendations for people in different stages of their lives.

Overall, this is a great book, a must read for every investor. It is however a little long and it requires some patience because it explains everything in details. If you want to cut to the chase and prefer a cookbook approach, I recommend the shorter book "The Random Walk Guide to Investing" (ISBN 039332639X) by the same author. The basic premise is the same in both books. The shorter "The Random Walk Guide to Investing" condenses everything into 3 basic points and 10 rules. It is about 200 pages long. The full book "A Random Walk Down Wall Street" is over 400 pages.

Download Here

The Master Swing Trader - Book

noreply@blogger.com (I Trade 4 Living) — Mon, 23 Apr 2007 01:34:00 +0000

The Master Swing Trader

Swing trading is gaining popularity as a powerful method to increase returns--and potentially lower risks--by profiting from short-term price moves. The Master Swing Trader explains how traders can use technical analysis, charting, and market sentiment to make trades that hold through price fluctuations and noise with wider stops. This complete, practical guide to making profitable short-term trades--based on the author's popular Mastering the Trade online course--uses dozens of charts and graphs to illustrate proven swing trading concepts and strategies. Experienced day, position, and online traders will benefit immediately from: - The 7 Bells – unique tools to uncover promising short-term prospects - Techniques to profit from low-risk short sales - The 4 repeating cycles for perfectly timed trades

From the Back Cover
Powerful Strategies to Slip Between Day Traders and Long-Term Investors--and Grab Hidden Trading Profits!

Located in the gray area between the lightning-fast day trader and the endlessly patient buy-and-hold investor, the modern swing trader executes intermediate positions that offer highly lucrative results with less volatility. The Master Swing Trader contains a wealth of practical insights and information for using this powerful trading method to profit from short-term price moves often missed by other market participants. After beginning with a detailed background on Pattern Cycle applications and the trend-range axis, The Master Swing Trader presents:
* Dozens of specific trading strategies and setups that include precise reward, risk, and stop-loss considerations
* Concrete tips, tactics, and workflows to make informed choices at each stage of short-term trade evolution
* The 7 Bells – unique tools to uncover high-probability short-term trading prospects

With more than 200 charts and dozens of proprietary setups that illustrate both classic and highly original short-term tactics, The Master Swing Trader doesn't leave your trading profits to chance. Coldly analytical and backed by real-time trading results, this proven course for short-term traders will help you improve your bottom line, lessen your risks--and increase your confidence in building solid profits in today's volatile markets!

Biased news stories spun by insiders to manipulate options prices…Questionable stocks pushed by analysts so their trading departments can unload bloated inventories … Quick-trigger day traders chasing the latest chat room buzz …

Today's top market players understand that our "efficient" markets are actually highly inefficient, driven by insiders with hidden agendas and an irrational pack mentality that has little to do with underlying value. Fortunately, this constant imbalance generates repeated, high-probability trade setups--and Alan Farley's The Master Swing Trader reveals how you can find and profit from these difficult-to-spot opportunities before they disappear.

Farley's innovative system is based on Pattern Cycles--shifting market stages that repeat in an orderly, predictable process through all price charts and time frames. These classic Pattern Cycles:
* Describe the machine language within market opportunity
* Reveal the origin of the trade setup
* Explain how to capitalize on inefficiency through every bull and bear phase
* Show exactly where to uncover consistent profit opportunities
* Offer natural methods to shift tactics quickly as conditions change
* Predict the impact of the emotional crowd on trend, range, and price development

The Master Swing Trader will help you apply Pattern Cycles to your advantage, over and over again. By encompassing virtually all market action, and revealing how price moves in a highly predictable manner, its powerful tools will give you the edge you need to take other people's money before they take yours.

In today's lightning-fast markets, open information makes profit opportunities decidedly more difficult to spot and capitalize upon--with the investing herd becoming far more skilled at spotting inefficiencies and closing them up quickly. The Master Swing Trader will teach you to recognize these trade setups one step ahead of the crowd, dive in for solid profits, and close out your position before the majority has even caught on.

Pattern Cycles are not easy or automatic; they require concentration, discipline, and skilled execution. But the payoff of these classic strategies is virtually unlimited. Turn to page 1 of The Master Swing Trader now, and open a new world of trading possibilities and profits--the world of the master swing trader!

Download Here

Free Ebooks

noreply@blogger.com (I Trade 4 Living) — Sat, 17 Mar 2007 06:33:00 +0000

Trading books:

Money Management, General Trading Self-help Book
Trading for a Living - Elder Alexander
Come Into My Trading Room: A Complete Guide to Trading
Study Guide for Come into My Trading Room
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing
Rich Dad's Guide to Investing

Trading Technique - Swing Trading
The Master Swing Trader

Study Guide for Come into My Trading Room

noreply@blogger.com (I Trade 4 Living) — Sat, 17 Mar 2007 06:28:00 +0000

Study Guide for Come into My Trading Room
by Alexander Elder

Description
STUDY GUIDE FOR Come Into My Trading RoomA Complete Guide to Trading
You can read Come Into My Trading Room: A Complete Guide to Trading in a few days, but you cannot expect to master every aspect of that invaluable book until you work through it. Study Guide for Come Into My Trading Room: A Complete Guide to Trading will help you learn the profitable methods and techniques of Come Into My Trading Room before risking a dollar in the markets.
Study Guide for Come Into My Trading Room: A Complete Guide to Trading parallels the actual book, challenging you at every step with questions that make you focus on all the important areas of trading. Some tests are pencil-and-paper, others have you work with charts, but all prepare you to make crucial decisions.
This Study Guide will:
Quiz you on the essentials of trading–choosing the markets to trade, finding holes in the Efficient Market Theory, and overcoming common obstacles to success
Make you aware of psychological blind spots that lead to losing
Test your knowledge of charting and computerized indicators
Explore trading systems, day-trading, and advanced concepts, such as Impulse trading and SafeZone stops
Ask questions about money management, record-keeping, and managing time
Challenge you with eight case studies where you choose entry and exit points and get graded for your performance
The best trading strategies, techniques, and tools are only as good as your understanding of them. Pick up this Study Guide for Come Into My Trading Room: A Complete Guide to Trading and convert Dr. Elder’s methods into your own powerful and profitable tools.

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101 Option Trading Secrets

noreply@blogger.com (I Trade 4 Living) — Sat, 17 Mar 2007 06:14:00 +0000

101 Option Trading Secrets

by Kenneth R. Trester (Author)

Description:
Introducing Ken Trester's book-101 Option Trading Secrets Author of the best-selling Complete Option Player, now in its 4th edition, Ken Trester is acclaimed for rendering complex subjects into easy-to-understand concepts and ideas. Through his books, seminars, and as a college professor, Ken Trester has educated tens of thousands of investors about the power and benefits of options. His award-winning programs give ordinary investors an edge in the professional arena. In this 336 page book, Ken condenses his options expertise and 30 years of extensive trading experience into 101 concise secrets that can help any investor to maximize their gains. its fourth edition, is among the best selling options books ever. A former computer science professor Ken has taught many popular course on options trading. In addition, he teaches a limited number of individuals through intensive options seminars. Many former students have been very successful using the strategies he espouses. Ken has an MBA and has worked as an investment manager. He developed an economical software program for personal computers, OPTION MASTER, that allows small investors to easily determine an option's true theoretical value.

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Come Into My Trading Room A Complete Guide to Trading

noreply@blogger.com (I Trade 4 Living) — Sat, 17 Mar 2007 06:08:00 +0000

Come Into My Trading Room: A Complete Guide to Trading

by Alexander Elder (Author)

Description:
Come Into My Trading RoomA Complete Guide to Trading
You can become a successful trader. It has been done before, and it is being done right now, today, by people around the world. If you enjoy learning, if you are not scared of risk, if the rewards appeal to you, and if you are prepared to put in the work, you have a great project ahead of you.
In Come Into My Trading Room: A Complete Guide to Trading, Dr. Alexander Elder takes you far beyond the three M’s (Mind, Method, Money) of his international bestseller Trading for a Living. He teaches you to manage your money and time, as well as strategy, so that you can enter the markets with confidence and exit with profits. This essential book educates the novice and gives more power to the professional through expert advice, proven trading methods, and something entirely unique–a visit to Dr. Elder’s own trading room. You get to follow him through several actual trades, whose entries and exits illustrate many of the key concepts of this book.
Come Into My Trading Room offers:
A complete introduction to trading essentials
An overview of trading psychology, both individual and mass psychology of the markets
A practical overview of technical analysis, including new indicators and systems
A step-by-step guide to risk control and money management
Exact instructions for keeping records and organizing your time
A visit to Dr. Elder’s private trading room, reviewing several of his recent trades
Be sure to work through the companion volume to this book–Study Guide for Come Into My Trading Room–before you risk a dollar in the markets. The Study Guide features 100 questions and answers and almost 50 charts to test your knowledge. Grade yourself to make sure you know enough about the nine key areas of trading. Work through eight case histories, select entry and exit points, and find out how well you understand what needs to be done in every trade. Use Dr. Elder’s Study Guide to make sure that you can measure up to your competitors and surpass them.
Come Into My Trading Room will help you master a new way of trading stocks, futures, options, and currencies. Unparalleled depth and a wide range of coverage give you the best chance to become the trader you’ve always wanted to be. From the Inside FlapHow 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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Trading for a Living by Dr Elder Alexander

noreply@blogger.com (I Trade 4 Living) — Sat, 17 Mar 2007 05:54:00 +0000

Trading for a Living - Psychology, Trading Tactics, Money Management
by Elder Alexander

Descrption:
Trading for a Living Successful trading is based on three M’s: Mind, Method, and Money. Trading for a Living helps you master all of those three areas:
How to become a cool, calm, and collected trader
How to profit from reading the behavior of the market crowd
How to use a computer to find good trades
How to develop a powerful trading system
How to find the trades with the best odds of success
How to find entry and exit points, set stops, and take profitsTrading for a Living helps you discipline your Mind, shows you the Methods for trading the markets, and shows you how to manage Money in your trading accounts so that no string of losses can kick you out of the game. To help you profit even more from the ideas in Trading for a Living, look for the companion volume—Study Guide for Trading for a Living. It asks over 200 multiple-choice questions, with answers and 11 rating scales for sharpening your trading skills. For example: Question Markets rise when
there are more buyers than sellers
buyers are more aggressive than sellers
sellers are afraid and demand a premium
more shares or contracts are bought than sold
I and II
II and III
II and IV
III and IVAnswer B. II and III. Every change in price reflects what happens in the battle between bulls and bears. Markets rise when bulls feel more strongly than bears. They rally when buyers are confident and sellers demand a premium for participating in the game that is going against them. There is a buyer and a seller behind every transaction. The number of stocks or futures bought and sold is equal by definition.

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