Dr. Alexander Elder is a professional trader (born 1951 in Leningrad,Soviet Union), author of books on trading and investments, trainer, consultant and motivational speaker leading trading. Among the dozens of his book famous ' Trading for a Living ' (international best seller, 1993), ' Come into My Trading Room ' (Barron's 2002 Book of the Year) and ' Entries & Exits '. Living in New York City and in various types of market trading, Elder pioneered a special school to traders called ' Traders ' Camp ' and ' Spike ' Group. He is very reliable in teaching and speaking at various seminars. Ideas and how to transfer knowledge in trading many acclaimed and much imitated. In addition to trading for himself and his client, Dr. Elder is committed in helping traders to be qualified and confident in my trading, as the motto on the website perusahaannnya elder.com: Intelligent Education for Traders.Alexander Elder's background is a medical doctor and psychiatrist. Born in Leningrad, Russia, where he studied medicine. At the age of 23, he received political asylum from the United States Government and works in New York City as a psychiatrist as well as teaching at Columbia University. This Elder became interested in trading in the stock market. The first shares bought are KinderCare. After learning to know the ins and outs of trading in the stock market, he also began to focus on the market option. According to Dr. Elder who also created the method of ' Triple Screen Trading System ', the most important in trading is Psychology (perhaps because of his background as a psychiatrist), then the use of a combination of technical analysis and proper money management.
As it is written in his book ' Trading for a Living ', Dr Elder said "in the beginning I am trading with slow and did not develop until I realized that the key to success in trading there in my head, not in the computer. Some say that trading was easy-easy is difficult, it is not true. To succeed in the knowledge required in the trading and high discipline. The myth that great loss because I do not know the secrets of the trade, it is absolutely incorrect. Secrets in trading that's just fantasy. If anything, there are only 3 Secrets: psychology, market analysis and trading systems and money management. Everything must be done with great discipline. "
In addition to the stock and option markets, Dr. Elder is also trading in the futures market that he thought most advantageous. In addition to continued to write books, he also practices as a psychiatrist in part-time after hours trading.
Dr. Elder to understand in detail what the underlying transaction in the trading flow, how should the way of thinking before you start the transaction, when it had a trading position and after closing a transaction. According to him, there are three levels in trading:
- Traders who are adept in technical analysis but doesn't understand the psychology of trading which is a major component in determining the way of thinking and control your emotions.
- The Trader realized that although he is proficient in technical analysis but it does not guarantee success in trading. At this level of traders will be looking for and trying new ways and avoid the old ways that have failed. Dr. Elder refers to this as an awakening understanding of the psychology of trading.
- Traders who have understood that to be successful in trading correct emotional control is required and a disciplined money management strategies. Without controlling the trader emotions can be hard to anticipate price movements next, and without a disciplined money management trader will use his emotions to ' impose ' advantage, a very natural thing.
source: www.elder.com
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