Trading for a Living: Psychology, Trading Tactics, Money ManagementTrading 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 profits Trading 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 IV Answer 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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Trading for a Living: Psychology, Trading Tactics, Money Management Alexander Elder Limited preview - 1993 |
Common terms and phrases
2-day EMA alcoholic Alcoholics Anonymous amateurs bear markets Bear Power bearish divergence Bollinger bands bottom breakout bull market Bull Power bullish divergence bulls and bears buy signal buying opportunity centerline channel line closing change closing prices consensus of value Crowd Psychology daily charts decline downtrend Elder-ray EMA of Force exponential moving average feel Figure Force Index go long guru identify long positions lose losers lower MACD MACD-Histogram market crowd money management NH-NL On-Balance Volume open interest oscillator overbought oversold peak percent place a protective prices fall protective stop pullback rally reference line Relative Strength Index reverse rises risk sell short sell signal sellers shows that bears shows that bulls Stochastic stock market support and resistance take profits technical analysis ticks timeframe trading range trend-following indicators trendline triangle TRIN Triple Screen trading uptrend volume weekly chart weekly trend Wm%R لا