Alexander Elder is a well-known professional trader, consultant and expert in exchange trading. The author of many articles and books on this topic. Elder's 1993 work, entitled "How to Play and Win on the Exchange," became an international bestseller (translated into 12 languages) and has survived several editions. In a professional environment, the book has received great recognition. But this is not the only work of the trader that is worthy of attention. The article will feature the best books by Alexander Elder. So let's get started.
"How to play and win on the stock exchange"
This most popular work of a trader has already been mentioned. According to Elder, success in the stock market game depends on three factors: methods, psychology and risk control. At the beginning of the book, Alexander shows that the keys to success lie in psychology. A trader teaches how to develop discipline and avoid emotional traps. Then he talks about the search algorithm for profitable deals using charts, computer indicators and other analysis tools. Based on this information, readers will be able to develop their own system by combining different methods. And in the end, Elder will teach you how to properly manage funds in a brokerage account.
Being a successful trader, Alexander not only reveals the secrets of skill, but also offers 200 exchange tasks with solutions. Trading methods in the futures, stock, foreign exchange and other markets are presented in a very accessible form. Readers will learn how to achieve success in the stock market game, save money during failures and significantly increase capital in profitable trading sessions. Few trading books can teach such things. We go further.
"Trading with Dr. Elder"
In this work, Alexander interprets three success factors (methods, psychology, risk control) much broader than in the best-seller described above. Elder reveals the secrets of managing time, money, teaches trading strategies and helps traders get out of profit transactions.
The process of reading a book can be compared to visiting a doctor’s personal account. It’s as if you are sitting in a chair, and Alexander gives instructions that will be equally useful for both beginners and professionals. The author tells traders how to analyze all stages of the transaction based on the key concepts presented in the publication.
The book by Alexander Elder will help you master everything you need to make a profit in the financial markets: placing stop-loss orders, trading systems, risk management, technical indicators, psychology of the crowd and the stock marketer. It contains specific instructions for organizing work in the market and maintaining accounts. By fixing on paper (or in a computer text editor) their profitable and unprofitable transactions, everyone will be able to learn not only from victories, but also from defeats. The diaries given by the author of the six transactions will allow you to see his thoughts and understand the decision-making algorithm for the sale or purchase.
The publication of this book also includes a book of about one hundred questions with detailed answers. Each of them is tied to a specific chapter and allows readers to determine the current level of knowledge before trading on the exchange. And self-assessment scales will show the degree of mastery of key aspects of trading.
"Basics of exchange trading"
This book by Alexander Elder considers work in the financial markets from the very basics to the professional level. Tells in detail about the construction of indicators. Alexander pays special attention to the interpretation of the market from the perspective of the psychological interaction of traders. The doctor also introduced the "Three Screens" system.
This trading book perfectly describes what is going on in the mind of the exchange and how it solves the problems that arise in front of all market participants. Therefore, it is worth taking into service all the ideas listed in it and adapt them to your own trading style.
“Trading. First steps"
This book by Alexander Elder is more targeted at beginners. If you make enough effort and become a professional, you can work and live in any country in the world. There will be no office routine and reports to the boss. But many newcomers see only attractiveness in trading in the financial markets and do not realize how tough discipline and hard work the exchange requires.
Elder’s book “Trading: First Steps” addresses key questions: “Who can become a successful speculator?”, “Can you make enough money in this area?”, “What is needed for success?” The materials of the publication will help readers appreciate their inclinations of trading in the financial markets. If they come to light, then you can confidently enter the exciting world of exchange transactions.
“Entrances and exits: 15 workshops from professional traders”
The name speaks for itself. The book presents the stories of fifteen traders. Each stockbroker talks about two of his transactions: profitable and unprofitable. Well, Elder himself commented in detail on their entries and exits.
Moreover, this is not a lecture style, but a visual demonstration of decision-making by professionals. The publication will be useful for both beginners and established traders.
“How to fix profits, limit losses and benefit from falling prices”
This is one of the latest books by Alexander Elder. Reader reviews about her are very positive. The publication is dedicated to the opening of a short position (short sale) and closing of the transaction (sale). Any professional trader should know exactly at what point it is worth completing the trade.
Short selling allows you to earn on falls. And this is an extremely important skill during instability and crises. If a trader knows how to sell short, then he almost doubles his chances of success.