Rating: 
- Like reading a good novel
This book is so well written it is actually like reading a novel. Dr. Elder shares an incredable amount of info. Should not be the only book on trading to read but definately is one of the best
Rating: - Even better than the first book
Improves on Trading for a Living in that two complete trading systems are detailed, and is much more informative on trading stocks. There are many examples throughout, and Dr. Elder's writing is clear and lively, with many humorous anecdotes and maxims. I read it twice, and now feel better prepared to trade than before. A must.
Rating: - Great Book
I have read both of Dr Elder's books. Come Into My Trading Room is an excellent book. I have developed a system based on MACD-Hist, ADX, Impulse Buy/Sell, and a 6 month exponential moving average. I have back-tested the system from 1975-2004. Based on 30 years of back-testing I had only one losing year -12%. The winning years had profits greater than 100% of a few occasions. However, most of the time the profits ranged from 30-40%. I will take those kind of numbers any day. The trades were executed on the following commidity markets... C, S, SM, BO, CL, HO, HU, NG, SP, TY, and US.
I also used the money management system that he talked about in the book... 2% stop loss per trade and a max loss of 6% for the month. The system that I developed didn't trigger a bunch of trades. For all 30 years I never executed more than 75 trades in a single year.
The trading style that Dr. Elder recommends in his book is not going to make you rich overnight; however, it will provide you with consistent steady returns year after year. By bankrolling profits from year to year one can become a millionaire in due time.
I am currently going to paper trade my system for the entire year of 2005 to verify that it is as profitable in real time as in back testing. I will send out another review in 2006 detailing my results.
Rating: - Outstanding
This is a great book in itself, and an excellent sequel to Trading for a living by Alexander Elder. The author is a psychologist turned professional trader and his writing shows his education/prior experience as a psychologist. This book deals mostly with the mentality one should have in order to successfully trade and financial/risk management...both go hand in hand. The book also touches upon technical analysis and serves as a good intro to it. You won't be dissapointed by this book.
Rating: - Simply yet powerful
It's a testament to the strength of this book that, having never purchased a share in my life, I was able to start trading with an edge only two days after finishing this book. Elder provides a complete trading manual, covering topics such as entry/exit points, trading psychology, money management, capital requirements and so forth. The methods he uses are not overly complicated yet still very powerful when properly implemented. He's well aware that the efficient market hypothesis invalidates technical trading, yet he provides a convincing argument as to why the academics have in this case got it wrong. Elder's style is easy to read and he combines his trading insights with a wry sense of humour. Most importantly, it is abundantly clear that Elder is a trader himself and many of his assertions are backed by years of experience. Overall I would highly recommend this text for those involved in technical trading.
- Like reading a good novelThis book is so well written it is actually like reading a novel. Dr. Elder shares an incredable amount of info. Should not be the only book on trading to read but definately is one of the best
Rating:
- Even better than the first bookImproves on Trading for a Living in that two complete trading systems are detailed, and is much more informative on trading stocks. There are many examples throughout, and Dr. Elder's writing is clear and lively, with many humorous anecdotes and maxims. I read it twice, and now feel better prepared to trade than before. A must.
Rating:
- Great BookI have read both of Dr Elder's books. Come Into My Trading Room is an excellent book. I have developed a system based on MACD-Hist, ADX, Impulse Buy/Sell, and a 6 month exponential moving average. I have back-tested the system from 1975-2004. Based on 30 years of back-testing I had only one losing year -12%. The winning years had profits greater than 100% of a few occasions. However, most of the time the profits ranged from 30-40%. I will take those kind of numbers any day. The trades were executed on the following commidity markets... C, S, SM, BO, CL, HO, HU, NG, SP, TY, and US.
I also used the money management system that he talked about in the book... 2% stop loss per trade and a max loss of 6% for the month. The system that I developed didn't trigger a bunch of trades. For all 30 years I never executed more than 75 trades in a single year.
The trading style that Dr. Elder recommends in his book is not going to make you rich overnight; however, it will provide you with consistent steady returns year after year. By bankrolling profits from year to year one can become a millionaire in due time.
I am currently going to paper trade my system for the entire year of 2005 to verify that it is as profitable in real time as in back testing. I will send out another review in 2006 detailing my results.
Rating:
- OutstandingThis is a great book in itself, and an excellent sequel to Trading for a living by Alexander Elder. The author is a psychologist turned professional trader and his writing shows his education/prior experience as a psychologist. This book deals mostly with the mentality one should have in order to successfully trade and financial/risk management...both go hand in hand. The book also touches upon technical analysis and serves as a good intro to it. You won't be dissapointed by this book.
Rating:
- Simply yet powerfulIt's a testament to the strength of this book that, having never purchased a share in my life, I was able to start trading with an edge only two days after finishing this book. Elder provides a complete trading manual, covering topics such as entry/exit points, trading psychology, money management, capital requirements and so forth. The methods he uses are not overly complicated yet still very powerful when properly implemented. He's well aware that the efficient market hypothesis invalidates technical trading, yet he provides a convincing argument as to why the academics have in this case got it wrong. Elder's style is easy to read and he combines his trading insights with a wry sense of humour. Most importantly, it is abundantly clear that Elder is a trader himself and many of his assertions are backed by years of experience. Overall I would highly recommend this text for those involved in technical trading.