Trading
for a Living: Psychology, Trading Tactics, Money Management by Dr. Alexander Elder
An
eminent futures trader explores crucial factors in the markets that most
experts overlook time, volume and open interest and describes
little-known indicators to profitably track them. Covers all the popular
technical approaches to futures, options and stock markets including
Elliott Wave, oscillators, moving averages, Market Logic,
point-and-figure charting. Explains why most traders sabotage themselves
and how to avoid doing the same.
You have just taken a big step away from the crowd of amateurs. By
opening Trading for a Living, you've resolved to become a successful
trader.
Dr. Alexander Elder is a professional trader; a world-class expert in
technical analysis, and a practicing psychiatrist. He believes that
successful trading is based on three M's: Mind, Method, and Money.
First, you will see that the key to winning is inside your Mind. You
will find out how to develop discipline and how to avoid the traps of
emotional trading. Second, you will learn how to find good trades by
using charts, computerized indicators, and other tools. You will
discover how to combine several analytic Methods into a powerful trading
system. Finally, you will learn how to manage Money in your trading
account. The rules for limiting risks are as vital to a trader as a
safety net is to a high-wire walker.
With this book, you are on your way to mastering a new way of trading
stocks, futures, currencies, and options. Dr. Alexander Elder helps you
embark on an intense pursuit-Trading for a Living.
Table of Contents
Introduction 1
1. Trading -The Last Frontier
2. Psychology Is the Key
3. The Odds Against You
I Individual Psychology
4. Why Trade?
5. Fantasy versus Reality
6. Market Gurus
7. Self-Destructiveness
8. Trading Psychology
9. Trading Lessons from AA
10. Losers Anonymous
11. Winners and Losers
II Mass Psychology
12. What Is Price?
13. What Is the Market?
14. The Trading Scene
15. The Market Crowd and You
16. Psychology of Trends
17. Managing versus Forecasting
III Classical Chart Analysis
18. Charting
19. Support and Resistance
20. Trend and Trading Range
21. Trendlines
22. Gaps
23. Chart Patterns
IV Computerized Technical Analysis
24. Computers in Trading
25. Moving Averages
26. Moving Average Convergence-Divergence
(MACD) and MACD-Histogram
27. The Directional System
28. Momentum, Rate of Change, and Smoothed Rate of Change
29. Williams %R
30. Stochastic
31. Relative Strength Index
V The Neglected Essentials
32. Volume
33. Volume-Based Indicators
34. Open Interest
35. Herrick Payoff Index
36. Time
VI Stock Market Indicators
37. New High-New Low Index
38. Traders' Index and Other Stock Market Indicators
VII Psychological Indicators
39. Consensus Indicators
40. Commitment Indicators
VIII New Indicators
41. Elder-ray
42. Force Index
IX Trading Systems
43. Triple Screen Trading System
44. Parabolic Trading System
45. Channel Trading Systems
X Risk Management
46. Emotions and Probabilities
47. Money Management
48. Exiting Trades
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Trading for A Living.
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