Alexander Elder

This is a discussion on Alexander Elder within the First Steps forums, part of the Reception category; Hi, i am just getting started on spread betting and am thinking about buying Elder's "Come into my trading room" ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Apr 10, 2004, 4:12pm   #1
SBM
 
8 Posts
Joined Apr 2004
Alexander Elder

Hi, i am just getting started on spread betting and am thinking about buying Elder's "Come into my trading room" but do i need to have read "Trading for a living" first?

Thanks
SBM is offline   Reply With Quote
Old Apr 10, 2004, 4:21pm   #2
 
Skimbleshanks's Avatar
Joined Nov 2000
No.

I have both books - Come Into is by far the better of them.
Skimbleshanks is offline   Reply With Quote
Old Apr 18, 2004, 11:09pm   #3
 
mikamisun's Avatar
 
3 Posts
Joined Jan 2004
After reading Elder's 2nd book it was interesting to see just how much he had learned in the years between, and how much he had altered his trading settings. Proof that the market is forever moving and one must adjust ones methods to keep up with the changes as time goes by.
__________________
Coco
mikamisun is offline   Reply With Quote
Old Apr 19, 2004, 11:30am   #4
 
seguna's Avatar
Joined Oct 2003
Elder Books

I've been reading Elder's book CIMTR and a few months on, I haven't finished it yet after been told I wouldn't be able to put it down. So far I've gleaned some fascinating insights on trading psychology and it has helped to focus my thoughts on what is needed for successful trading. It's certainly a worthwhile book but I'm not convinced there's enough in it to help you build a sound trading system you can actually trade with confidence.

rgds
S
__________________
'The future belongs to those who see it before it arrives'.
seguna is offline   Reply With Quote
Old Apr 19, 2004, 12:08pm   #5
Joined Jan 2003
I've found with most books on trading that I learn a few "nuggets" from each book I read and end up disregarding a lot of what is said.

I have read CIMTR and thought it was a good practical book overall. I too learned most from the psychological parts of the book, but the actual trade set up's etc did nothing for me. That doesn't make it a bad book, just that it's not really the type of trading set up's that I look for.

If I get a "nugget" or two from each book I read, then I consider it a worthwile purchase.

The most recent book I bought was trading in the zone by Mark Douglas which for the most part was very heavy going, and seemed to repeat the same thing over and over. However, the nuggets (and several of them for me) were all in the last couple of chapters.

Don't expect too much from books as there are many ways of trading, and one persons methods may be no good for you individually. You will find that you don't agree with much of what is written. My take on this is read as many books as you can, learn a little from each one and apply it to your own strategy, that is within your own comfort zones etc, whether a beginner trying to put a strategy together, or experienced looking to make improvements.

Read as much as you can, learn from it, apply the "nuggets" to your own trading.
darrenf is offline   Reply With Quote
Old Apr 19, 2004, 12:23pm   #6
 
seguna's Avatar
Joined Oct 2003
Books

I agree with DF.

Read as much as you can, take what's useful and drop the rest. I've found though, it takes a while and bit of reading, experience and exposure to sift out the personally irrelevant.

SBM,
it is this background of comprehensive reading and research that will give you the foundation to go forward with confidence. I am always amazed by how much I don't yet know and what I find out as I continue to learn. Beware of short cuts and get rich quick approaches going forward - they abound throughout this industry and they never fulfill their promises.
__________________
'The future belongs to those who see it before it arrives'.
seguna is offline   Reply With Quote
Old Apr 19, 2004, 12:45pm   #7
Joined Jan 2003
Seguna

Quote:
it is this background of comprehensive reading and research that will give you the foundation to go forward with confidence. I am always amazed by how much I don't yet know and what I find out as I continue to learn.
Quite right mate. In fact, that's just made me realise I haven't bought a book for a couple of months now- off to Global Investor right now!!
darrenf is offline   Reply With Quote
Old Apr 19, 2004, 1:17pm   #8
BBB
 
BBB's Avatar
Joined Dec 2003
Darrenf - Are GI reliable? I ordered a book (my first from them) from them 3 weeks ago and still no sign. Another member from this board ordered the same book from Amazon in the USA and it came in 6 days.
BBB is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Tom Alexander As A Trading Mentor? learningMPtrader Educational Resources 4 Dec 14, 2013 5:21pm
Elder-ray Joules MM1 Spread Betting & CFDs 0 Mar 12, 2007 1:33am
Alexander Moss Fund Managers Wanted pbarroso First Steps 12 Oct 31, 2004 5:22pm
Dr Alexander Elder Safri Laross Educational Resources 4 Aug 28, 2003 1:36pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)