From the Back Cover
ENTRIES & EXITS
You are about to visit the trading rooms of sixteen men and women. These traders live in different countries, follow different markets, and use different methods, but all share several traits--most importantly, their dedication to trading. They are utterly serious about their work, while most of the amateurs who supply the bulk of their winnings are chasing the excitement of an adrenaline rush.
Why would a person who is trading for a living talk about his or her method instead of grinding out profits in silence? Winners know full well that success in trading does not depend on knowing "the secret." There is no secret--only hard work, focus, attention to detail, being careful and long-term oriented with money, and having a bit of flair.
Trading is a vast field, and like a doctor, you must specialize. Many beginners spread themselves painfully thin by investing in and day-trading stocks, futures, and options. Each trader in this book concentrates on an area that appeals to him or her, be it buying breakouts, writing puts, or trolling for dull stocks ready to explode from consolidation zones.
People become successful when they focus on what they love to do. In reading this book, you will probably come across a trading vehicle you like or a concept that appeals to you. Once you find it, stay with it and mine that area for its rich deposits.
There are massive differences between traders at various stages of development. Beginners look for tips, while intermediate traders keep asking about indicator settings. Experienced traders love to watch others make decisions and explain them. Traders in this book will share a wealth of information with you; what you take home is entirely up to you.
Trading can give you money, which can buy many good things--freedom from a boss, the ability to travel wherever and whenever you like, and much more. Still, when the chips are down, it is not money that determines the quality of your life.
Your goal in trading should be to become the best professional you can be.
We owe a debt of gratitude to the sixteen traders who opened their trading rooms--helping all of us become better traders and serving as examples of kindness, generosity, and drive. They show us that there is more to life than money, even in a trader's life. This book is designed to help you break out of isolation, learn from others, pick up ideas that suit your style, and return to your trading room a better, more confident trader.
DR. ALEXANDER ELDER is a professional trader, a teacher of traders, and a practicing psychiatrist. He is the founder of elder.com, an educational firm for traders worldwide. Dr. Elder is the author of two international bestsellers, Trading for a Living and Come Into My Trading Room (and their companion study guides), both published by Wiley. He is an avid traveler, as chronicled in his book Straying from the Flock: Travels in New Zealand (Wiley).
