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Step by Step Trading: The Essentials of Computerized Technical Trading
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 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.
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 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.
- GenresNonfiction
78 pages, Kindle Edition
First published March 30, 2015
26 people are currently reading
35 people want to read
About the author
Alexander Elder
64 books218 followersDr. Alexander Elder is a professional trader based in New York City. He is the author of a dozen books, including Come into My Trading Room (Barron's 2002 Book of the Year) and Trading for a Living, considered modern classics among traders.
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 for traders. He continues to trade and is a sought-after speaker at conferences in the US and abroad.
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 for traders. He continues to trade and is a sought-after speaker at conferences in the US and abroad.
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Displaying 1 of 1 review
January 29, 2024
Practical
This is a good book for the beginners. I think that if you will start to tarde, so read this book before.
This is a good book for the beginners. I think that if you will start to tarde, so read this book before.
Displaying 1 of 1 review