Pearls from "Come into My Trading Room"-Elder Alexander

veluri1967 · #1 14th December 2009, 04:17 PM

A dream of every trader to have a copy of "Come into My Trading Room" by Elder Alexander.

Hence, very useful "Pearls from his Best Work" is here. A lot of doubts sprung up my mind while I was going through this work. I felt the need to consult seniors over in this forum to clarify my doubts on the concepts. I am giving below the contents of his work.

Donot miss it, friends.

My humble request to seniors to respond to my querries as and when I put them over here.

CONTENTS

Introduction http://www.traderji.com/books/36263-...tml#post393057

I.HOW THIS BOOK IS ORGANIZED http://www.traderji.com/books/36263-...tml#post393348

MALE OR FEMALE? http://www.traderji.com/books/36263-...tml#post393767

PART ONE

FINANCIAL TRADING FOR BABES IN THE WOODS

Invest? Trade? Gamble?
AN INTELLIGENT INVESTOR
AN INTELLIGENT TRADER
AN INTELLIGENT GAMBLER?

II What Markets to Trade?

STOCKS
FUTURES
OPTIONS

III The First Steps

THE EXTERNAL BARRIERS TO SUCCESS
GETTING YOUR GEAR
ANALYSIS AND TRADING

PART TWO THE THREE M’S OF SUCCESSFUL TRADING

IV Mind—The Disciplined Trader

SLEEPWALKING THROUGH THE MARKET
A REMEDY FOR SELF-DESTRUCTIVENESS
THE MATURE TRADER

V Method—Technical Analysis

BASIC CHARTING
INDICATORS—FIVE BULLETS TO A CLIP

VI Trading

SYSTEM TESTING
TRIPLE SCREEN UPDATE
DAY-TRADING
THE IMPULSE SYSTEM
MARKET THERMOMETER
EXITING TRADES
CHOOSING WHAT TO TRADE

VII Money Management Formulas

NO MATH ILLITERATES
BUSINESSMAN’S RISK VS. LOSS.
THE 2% SOLUTION—PROTECTION FROM SHARKS
THE 6% RULE—PROTECTION FROM PIRANHAS
POSITION SIZING
MONEY MANAGEMENT STEPS

PART THREE COME INTO MY TRADING ROOM

VIII The Organized Trader

TRADER’S SPREADSHEET
THE EQUITY CURVE
TRADING DIARY
ACTION PLAN

IX Trading for a Living

DISCIPLINE AND HUMILITY
HAVE YOU GOT THE TIME?
THE DECISION-MAKING TREE
BEGINNER, SEMIPRO, PRO
GOING PRO

X Come Into My Trading Room

EXCERPTS FROM THE DIARY
YOUR NEXT TRADE

Save the attached file, if you do already not have a copy.

veluri1967 · #2 14th December 2009, 08:54 PM

MARKETS
The trouble with markets is that they don’t move in straight lines. Charts are full of false breakouts, false reversals, and flat trading ranges.

FUTURES
Futures do not kill traders—poor money management kills traders. Futures can be very attractive for those who have strong money management skills. They promise high rates of return but demand icecold discipline. When you first approach trading, you are better off with slower-moving stocks. Once you have matured as a trader, take a look at futures. They may be right for you if you’re very disciplined.

OPTIONS
Many beginners buy calls because they can’t afford stocks. Futures traders who get beat up sometimes turn to options on futures. Losers switch to options instead of dealing with their own inability to trade. Using a shortcut to weasel out of trouble instead of facing a problemnever works. Successful stock and futures traders sometimes use options to reduce risks or protect profits. Serious traders buy options rarely and only in special situations, as we will see later in this book. Options are hopeless for poor people who use them as substitutes for stocks because they can’t afford the real thing. Professionals take full advantage of starry-eyed beginners crowding
into options.

TRADING
Trading is a journey of self-discovery. If you enjoy learning, if you are not scared of risk, if the rewards appeal to you, if you are prepared to put in the work, you have a great project ahead of you. You will work hard and enjoy the discoveries you’ll make along the way.

veluri1967 · #3 15th December 2009, 07:11 PM

Quote:

The Three M’s of Successful Trading—Mind, Method, and Money.

Mind is your trading psychology.

Method is how you go about finding trades and making entry and exit decisions.

Money is how you manage your trading capital for long-term survival and success.

Here is the next part.

veluri1967 · #4 16th December 2009, 07:16 PM

MALE OR FEMALE?

Male traders outnumber women by about twenty to one, although
this ratio is rapidly becoming more balanced as more and more women
come into the markets.

I find that the percentage of successful traders is higher among
women. They tend to be less arrogant, and arrogance is a deadly sin
in trading. The male ego—that wonderful trait that has been bringing
us wars, riots, and bloodshed since time immemorial—tends to get
heavily caught up in trading. A guy studies his charts, decides to buy,
and now his self-esteem is involved—he has to be right! If the market
goes his way, he waits to be proven even more right—bigger is better.
If the market goes against him, he is tough enough to stand the pain
and waits for the market to reverse and prove him right—while it
grinds down his account.

Women traders, on the other hand, are much more likely to ask a simple
question—where’s the money? They like to take profits and focus on
avoiding losses instead of trying to prove themselves right. Women are
more likely to bend with the wind and go with the flow, catch trends
and hop off a little earlier, booking profits. When I tell traders that keeping
records is a hugely important aspect of success, women are more
likely to keep them than men. If you are looking to hire a trader, all other
factors being equal, I’d recommend looking for a woman.

This is the link what you have been looking for. It will cease after 10 downloads. Be first.
http://rapidshare.com/files/32164730...ument.doc.html

surya_sun · #5 22nd December 2009, 07:30 PM

Velluri
Thanks for the book. I have the other books with me
Trading for Liviing and Entry&Exits
Let me know, if you would like to have it.

Quote:

Originally Posted by veluri1967

MALE OR FEMALE?

Male traders outnumber women by about twenty to one, although
this ratio is rapidly becoming more balanced as more and more women
come into the markets.

I find that the percentage of successful traders is higher among
women. They tend to be less arrogant, and arrogance is a deadly sin
in trading. The male ego—that wonderful trait that has been bringing
us wars, riots, and bloodshed since time immemorial—tends to get
heavily caught up in trading. A guy studies his charts, decides to buy,
and now his self-esteem is involved—he has to be right! If the market
goes his way, he waits to be proven even more right—bigger is better.
If the market goes against him, he is tough enough to stand the pain
and waits for the market to reverse and prove him right—while it
grinds down his account.

Women traders, on the other hand, are much more likely to ask a simple
question—where’s the money? They like to take profits and focus on
avoiding losses instead of trying to prove themselves right. Women are
more likely to bend with the wind and go with the flow, catch trends
and hop off a little earlier, booking profits. When I tell traders that keeping
records is a hugely important aspect of success, women are more
likely to keep them than men. If you are looking to hire a trader, all other
factors being equal, I’d recommend looking for a woman.

This is the link what you have been looking for. It will cease after 10 downloads. Be first.
http://rapidshare.com/files/32164730...ument.doc.html

findvikas · #6 22nd December 2009, 08:05 PM

Quote:

Originally Posted by veluri1967

[B]
This is the link what you have been looking for. It will cease after 10 downloads. Be first.
http://rapidshare.com/files/32164730...ument.doc.html

Here is the mirror and it will not cease as I have premium account with RS. Enjoy!
http://rapidshare.com/files/32440001...ding_diary.zip

SCF · #7 1st January 2010, 12:07 AM

veluri,
Good attempt.

Please continue

bunny · #8 2nd January 2010, 03:09 PM

Quote:

Originally Posted by findvikas

Here is the mirror and it will not cease as I have premium account with RS. Enjoy!
http://rapidshare.com/files/32440001...ding_diary.zip

Plz upload to 4shared.com . You may be aware how rapidshare plays its trick of "Too many users downloading right now" and many such other.

veluri1967 · #9 8th January 2010, 11:01 PM

If anybody is interested in the book "Come into My Trading Room" in PDF format, please PM me.

oilman5 · #10 9th January 2010, 04:45 AM

thanks to help all traders

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