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Come Into My Trading Room: A Complete Guide to Trading| Media: | Hardcover | | Author: | Alexander Elder, Alexander Elder | | Publisher: | Wiley | | Release date: | 19 April, 2002 | | List price: | $55.00 |
| Our price: | $34.65 that is 37% off! |
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| Come Into My Trading Room: A Complete Guide to Trading |
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Average rating:  |
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Even better than the first book |
| Improves on Trading for a Living in that two complete trading systems are detailed, and is much more informative on trading stocks. There are many examples throughout, and Dr. Elder's writing is clear and lively, with many humorous anecdotes and maxims. I read it twice, and now feel better prepared to trade than before. A must. |
| Come Into My Trading Room: A Complete Guide to Trading - Alexander Elder, Alexander Elder |
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Great Book |
I have read both of Dr Elder's books. Come Into My Trading Room is an excellent book. I have developed a system based on MACD-Hist, ADX, Impulse Buy/Sell, and a 6 month exponential moving average. I have back-tested the system from 1975-2004. Based on 30 years of back-testing I had only one losing year -12%. The winning years had profits greater than 100% of a few occasions. However, most of the time the profits ranged from 30-40%. I will take those kind of numbers any day. The trades were executed on the following commidity markets... C, S, SM, BO, CL, HO, HU, NG, SP, TY, and US.
I also used the money management system that he talked about in the book... 2% stop loss per trade and a max loss of 6% for the month. The system that I developed didn't trigger a bunch of trades. For all 30 years I never executed more than 75 trades in a single year.
The trading style that Dr. Elder recommends in his book is not going to make you rich overnight; however, it will provide you with consistent steady returns year after year. By bankrolling profits from year to year one can become a millionaire in due time.
I am currently going to paper trade my system for the entire year of 2005 to verify that it is as profitable in real time as in back testing. I will send out another review in 2006 detailing my results.
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| Alexander Elder, Alexander Elder - Come Into My Trading Room: A Complete Guide to Trading |
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Outstanding |
| This is a great book in itself, and an excellent sequel to Trading for a living by Alexander Elder. The author is a psychologist turned professional trader and his writing shows his education/prior experience as a psychologist. This book deals mostly with the mentality one should have in order to successfully trade and financial/risk management...both go hand in hand. The book also touches upon technical analysis and serves as a good intro to it. You won't be dissapointed by this book. |
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