Podcast appearances and mentions of Alexander Elder

Als Trader hatte Nils teilweise über mehrere Jahre Renditen von über 100% erwirtschaftet. Dennoch verschob er seinen Fokus aufs langfristige Investieren. Warum er das tat und welche Strategie er nun erfolgreich umsetzt, erzählt er im heutigen Interview. Shownotes zum Interview mit Nils Gajowiy Webseite von Nils: https://www.gajowiy.com/ Nils auf YouTube: https://www.youtube.com/@Zahltagstrategie Buchempfehlungen: Alles, was Sie über Trading wissen müssen von Alexander Elder: https://amzn.to/3NvE7XA Warren Buffett: Sein Weg. Seine Methode. Seine Strategie. von Robert Hagström: https://amzn.to/3Ysptqu The Intelligent Investor von Benjamin Graham: https://amzn.to/3fOn9kG

Taasesitamisel on suursündmusel Investor Toomase konverents 2024 toimunud esitlus, kus investor Toomast kehastav Juhan Lang lahkab investor Toomase ostuideed ja sisestab ostuorderi otse lavalt. Alates konverentsi laval tehtud ostust on Nvidia aktsia kallinenud vähem kui aastaga enam kui 120%.

Taasesitamisel on suursündmusel Investor Toomase konverents 2024 toimunud esitlus, kus elukutseline kaupleja ja investeerimisstrateeg Vaido Veek jagab enda tehnilisi analüüse ja teese osalejate poolt valitud aktsiatele.

Taasesitamisel on suursündmusel Investor Toomase konverents 2024 toimunud esitlus, kus investor ja kinnisvarahindaja Grete Kristel Pariis jagab enda õppetunde kinnisvaras, iduinvesteeringutes ja aktsiatega.

Taasesitamisel on suursündmusel Investor Toomase konverents 2024 toimunud esitlus, kus Tõnu Toompark teeb puust ja punaseks selgeks, kuidas arvutuda üürikinnisvara tasuvust.

Taasesitamisel on suursündmusel Investor Toomase konverents 2024 toimunud esitlus, kus Kristjan Liivamägi lahkab oma investeeringute portfelli ning jagab saladust, kuidas saada dividende igapäevaselt.

Taasesitamisel on suursündmusel Investor Toomase konverents 2024 toimunud esitlus, kus räppar reket jagab enda investeerimisteekonda, mõtteid finantsvabadusest ning miks tema eelistab USA börsi.

Taasesitamisel on suursündmusel Investor Toomase konverents 2024 toimunud esitlus, kus jalgpallur ja investor Ragnar Klavan jagab mõtteid, kuidas edu jalgpallis on aidanud temal eesmärke seada ning investeerimises edu tuua.

Taasesitamisel on suursündmusel Investor Toomase konverents 2024 toimunud esitlus, kus Marko Oolo tegi oma portfelli avalikuks, tuues välja strateegia, mille abil on ta suutnud oma varad kasvatada üle miljoni euro.

Taasesitamisel on suursündmusel Investor Toomase konverents 2024 toimunud esitlus, kus investor Lev Dolgatsjov avaldab enda suurimad investeerimisvead läbi aegade.

Taasesitamisel on suursündmusel Investor Toomase konverents 2024 toimunud esitlus, kus EfTEN Capitali juht Viljar Arakas avab enda vaadet kinnisvaraturule ning puudutab ka USA presidendivalimisi.

Okay this time we are talking about the Force Index Indicator. It is a very simple indicator. It's easy to read and also easy to code. If the indicator crosses the line in the middle from below and stays above the line, that could mean that we are bullish. And when it crosses the line from above and stays below the line like in this case, we have a bearish trend and we would like to sell. According to the website www.traderhq.com, this is also an indicator that was developed by Dr Alexander Elder, the author of the book: Trading for a Living. Okay now that we know how it works how can we create an Expert Advisor to use the indicator? The first step is to click the little button over here or hit the F4 key on your keyboard. That will start the Meter Editor and we want to click on File, New, Expert Advisor from template, Continue. We will call it Simple Force Index Robot. Now click on Continue, Continue, Finish, and delete everything above the Ontick function. These two comment lines are also no longer needed, because here we want to create an array, it shall holds several prices so it’s a double array and I will call it my price array. And now it’s time to define the Force Index definition by using the iForce function that is built-in into MQL 5. It takes some parameters, the first one is the current symbol on the chart, the second one is the period you have selected on your chart. The Force Index is calculated based on the last thirteen candles. You will also see it here in this little brackets. It is using the MODE_SMA that stands for Simple Moving Average and we want to use Tick volume. If you insert the indicator by clicking on Insert indicators, Oscillators, Force Index, you will see the exact same values here: thirteen candles, simple moving average based on the tick volume. Okay, let’s use the array set as series function that will sort the price array from the current candle downwards and now we use Copy Buffer for the Force Index definition we have created here. We need one line for the indicator that’s a zero here and we want to fill our array from the current candle that’s candle zero, for three candles that’s the three and store the result in our price array. And from our price array we are now going to extract the Force Index value for the current candle zero and we will use normalize double for six digits to get the six digits behind the point. And now we want to create a chart outputs depending on the value and if our Force Index value is above zero, we want to output the comment “trending upwards” directly on our chart and in the other case if the Force Index value is below zero, we want to have the text “trending downwards” on our chart. Okay, now please click on the little Compile button here or press the F7 key on your keyboard. That should compile your Expert Advisor without any errors or warnings here. And if that was going well please click on the button here or press F4 to go back to MetaTrader. Now in MetaTrader you want to click on View, Strategy Tester or press control and R. And in the Strategy Tester you want to select the Simple Force Index Robot.ex5 file. Let's pick a currency pair here, enable the visualisation mode and click on Start and here we go. Now the indicator is below the line so it says trending downwards and as soon as the little indicator crosses the line from below, that changes to trending upwards. Okay, now you know how to create an Expert Advisor for Meta Trader5 that is using the Force Index Indicator and you have created it yourself in five minutes with a few lines of MQL5 code. Not sure what to do? Click on the automated trading assistant below How to create a force Index EA with MQL5 How to create a Bulls Power EA with MQL5 How to create a Demarker Expert Advisor with MQL5 How to create a MacD EA with MQL5 MQL5 TUTORIAL - PLATIN SYSTEM - VARIABLE INDEX… The post MQL5 Tutorial – Simple Force Index Trading Robot appeared first on MQL5 Tutorial.

"Trading for a Living" by Dr. Alexander Elder is a must-read for anyone seeking to navigate the challenging world of trading. It seamlessly blends crucial trading tactics with a deep dive into the psychological dimensions of this profession. The book guides readers through the intricacies of technical analysis, market indicators, and trading systems, enriched by practical advice and tangible examples. Dr. Elder, leveraging his background in psychiatry, illuminates the emotional landscape of trading, demonstrating how to manage fear and greed, overcome inherent biases, and cultivate mental resilience. This book equips traders with the skills needed to safeguard their capital, make informed decisions, and importantly, understand themselves better, laying the foundation for a successful and sustainable trading career.

VIVIR DEL TRADING - CAPÍTULO 8 - NUEVOS INDICADORESReflexión del capítulo 8: En el camino de las herramientas técnicas que necesitamos conocer, se nos presentan el ELder-Ray. Un indicador que el mismo autor del libro nos presume para su uso optimo en los mercados financieros. Es interesante y curioso lo que nos puede decir este indicador como trader de futuros y opciones. El camino aun es largo pero se que hemos de llegar a esos momentos. Si se dedicó a escribir un libro, no fue suficiente. El ELder-Ray y el Indice de Fuerza son indicadores desarrollados por el mismo Alexander Elder donde nos explica su funcionamiento, sus estrategias y las mejores oportunidades para tradear con los mismos indicadores.UNETE A ESTE CANAL Y ESCUCHA MÁS DE 30 AUDIOLIBROS DE TRADING, NEGOCIOS, ECONOMÍA, CRECIMIENTO PERSONAL Y MÁS ¡GRATIS!https://www.youtube.com/channel/UChPrWOE-PStG33VCLAOREagEscúchalos por podcast: https://www.spreaker.com/show/trading-books-los-mejores-libros-de-trad_2https://open.spotify.com/show/44t0OLA3iXHxdZZxO5rAgMCanal de Música Lo-Fi para tu trading:https://www.youtube.com/channel/UCQOkoOX2xjqMhhe2hsqmdrQ¡Ahora en Facebook!https://www.facebook.com/audiolibrosdetrading/¡SUBSCRIBETE!https://www.youtube.com/channel/UChPrWOE-PStG33VCLAOREagTwitter: https://twitter.com/AprendamosTrad#vivirdeltrading #audiolibrosdetrading #livingfortrading

VIVIR DEL TRADING - CAPÍTULO 9 - LOS SISTEMAS DE TRADINGReflexión Capítulo 9 : Herramientas importantes que debemos de tener en cuenta como el parabólico y las bandas de bollinger en la búsqueda de buenas oportunidades de trading. Sigo enamorado en como se nos repite y se nos repite para nunca olvidarnos de como actúa la psicología del mercado en cada momento dado en los mercados financieros. De igual forma y de forma muy rápida el CCI. El clímax de este libro. La estrategia mas importante por Alexander Elder. El sistema de la triple pantalla un sistema que presume tanto y no lo ha compartido. Estrategia presentada por primera vez en la revista "Futures" Nos dará en este capitulo como escoger los marcos temporales. Que marea de mercado tomar, que ola tomar y adicionalmente otro sistema interesante. El sistema de trading parabolico y sistemas con canales.UNETE A ESTE CANAL Y ESCUCHA MÁS DE 30 AUDIOLIBROS DE TRADING, NEGOCIOS, ECONOMÍA, CRECIMIENTO PERSONAL Y MÁS ¡GRATIS!https://www.youtube.com/channel/UChPrWOE-PStG33VCLAOREagEscúchalos por podcast: https://www.spreaker.com/show/trading-books-los-mejores-libros-de-trad_2https://open.spotify.com/show/44t0OLA3iXHxdZZxO5rAgMCanal de Música Lo-Fi para tu trading:https://www.youtube.com/channel/UCQOkoOX2xjqMhhe2hsqmdrQ¡Ahora en Facebook!https://www.facebook.com/audiolibrosdetrading/¡SUBSCRIBETE!https://www.youtube.com/channel/UChPrWOE-PStG33VCLAOREagTwitter: https://twitter.com/AprendamosTrad#vivirdeltrading #audiolibrosdetrading #livingfortrading

VIVIR DEL TRADING CAPÍTULO 2 - LA PSICOLOGÍA DE MASAS - AUDIOLIBRO COMPLETO 2023VIVIR DEL TRADING CAPÍTULO 2 - LA PSICOLOGÍA DE MASASReflexión Capítulo 2: Un trader nunca puede ir en contra de la de multitud. La muchedumbre es quienes puede decidir hacia donde se dirigen los mercados pero al igual son los grupos mas estúpidos. La tarea del trader es solo esperar y esperar esta ver una oportunidad de compra o venta. Salvándose de morir en el intento de sacar beneficios de los mercados. ¿Que representa el precio?, ¿Que son los toros?, ¿Que son los osos? y mas importante. Quienes son los cerdos y los corderos en el mundo del trading. Nombre que se les da a estas personas de acuerdo sus capacidades de ganar o perder en una masa de pensamientos tan diversos y siempre en conflicto. Alexander Elder nos dice "Cada precio representa el consenso de la multitud". Multitud de la cual debemos siempre salir ganando.UNETE A ESTE CANAL Y ESCUCHA MÁS DE 30 AUDIOLIBROS DE TRADING, NEGOCIOS, ECONOMÍA, CRECIMIENTO PERSONAL Y MÁS ¡GRATIS!https://www.youtube.com/channel/UChPrWOE-PStG33VCLAOREagEscúchalos por podcast: https://www.spreaker.com/show/trading-books-los-mejores-libros-de-trad_2https://open.spotify.com/show/44t0OLA3iXHxdZZxO5rAgMCanal de Música Lo-Fi para tu trading:https://www.youtube.com/channel/UCQOkoOX2xjqMhhe2hsqmdrQ¡Ahora en Facebook!https://www.facebook.com/audiolibrosdetrading/¡SUBSCRIBETE!https://www.youtube.com/channel/UChPrWOE-PStG33VCLAOREagTwitter: https://twitter.com/AprendamosTrad#vivirdeltrading #audiolibrosdetrading #livingfortrading

VIVIR DE TRADING – INTRODUCCIÓNVIVIR DE TRADING de Alexander Elder – INTRODUCCIÓN¿Vivir del trading? Un forma de vivir posible entre la sociedad de hoy en día. Muchos aspiran a ese sueño pero pocos la consiguen. Libro clave y de iniciación obligatoria para todo trader que desea aventurarse al maravilloso y curioso mundo del que todos hablan. Alexander Elder sera el encargado de este recorrido, un psiquiatra que nos cuenta sus inicios de trading, las advertencias para este mundo y un banderazo para iniciar este maravilloso libro.UNETE A ESTE CANAL Y ESCUCHA MÁS DE 30 AUDIOLIBROS DE TRADING, NEGOCIOS, ECONOMÍA, CRECIMIENTO PERSONAL Y MÁS ¡GRATIS!https://www.youtube.com/channel/UChPrWOE-PStG33VCLAOREagCanal de Música Lo-Fi para tu trading:https://www.youtube.com/channel/UCQOkoOX2xjqMhhe2hsqmdrQ¡Ahora en Facebook!https://www.facebook.com/audiolibrosdetrading/¡SUBSCRIBETE!https://www.youtube.com/channel/UChPrWOE-PStG33VCLAOREagTwitter: https://twitter.com/AprendamosTrad#vivirdeltrading #audiolibrosdetrading #livingfortrading

Abra sua conta e opere com ajuda de inteligência artificialClique no link: https://bit.ly/abrasuacont4William Marques está de volta e faz do GainCast#148 um dos episódios mais técnicos da longa história deste podcast sem mimimi.Diante de um André Moraes empolgado e um Roberto Indech curioso, William deu uma verdadeira aula sobre trade, tempos gráficos e virada de chave no mercado. Durante cerca de uma hora ele falou sobre os sinais técnicos que mais gosta de operar, sobre sua preferência por tempos gráficos mais longos e o que aprendeu com seu grande mentor, Alexander Elder. Hosts:@André Moraes e @No Radar do Dinheiro Convidado:William MarquesPodcast by @Clear Corretora Abra sua conta e opere com ajuda de inteligência artificial em: https://bit.ly/abrasuacont4

Reflexión Capítulo 9 : Herramientas importantes que debemos de tener en cuenta como el parabólico y las bandas de bollinger en la búsqueda de buenas oportunidades de trading. Sigo enamorado en como se nos repite y se nos repite para nunca olvidarnos de como actúa la psicología del mercado en cada momento dado en los mercados financieros. De igual forma y de forma muy rápida el CCI. El clímax de este libro. La estrategia mas importante por Alexander Elder. El sistema de la triple pantalla un sistema que presume tanto y no lo ha compartido. Estrategia presentada por primera vez en la revista "Futures" Nos dará en este capitulo como escoger los marcos temporales. Que marea de mercado tomar, que ola tomar y adicionalmente otro sistema interesante. El sistema de trading parabolico y sistemas con canales.

Reflexión del capítulo 8: En el camino de las herramientas técnicas que necesitamos conocer, se nos presentan el ELder-Ray. Un indicador que el mismo autor del libro nos presume para su uso optimo en los mercados financieros. Es interesante y curioso lo que nos puede decir este indicador como trader de futuros y opciones. El camino aun es largo pero se que hemos de llegar a esos momentos. Si se dedicó a escribir un libro, no fue suficiente. El ELder-Ray y el Indice de Fuerza son indicadores desarrollados por el mismo Alexander Elder donde nos explica su funcionamiento, sus estrategias y las mejores oportunidades para tradear con los mismos indicadores.

VIVIR DE TRADING de Alexander Elder – INTRODUCCIÓN¿Vivir del trading? Un forma de vivir posible entre la sociedad de hoy en día. Muchos aspiran a ese sueño pero pocos la consiguen. Libro clave y de iniciación obligatoria para todo trader que desea aventurarse al maravilloso y curioso mundo del que todos hablan. Alexander Elder sera el encargado de este recorrido, un psiquiatra que nos cuenta sus inicios de trading, las advertencias para este mundo y un banderazo para iniciar este maravilloso libro.

Reflexión Capítulo 2: Un trader nunca puede ir en contra de la de multitud. La muchedumbre es quienes puede decidir hacia donde se dirigen los mercados pero al igual son los grupos mas estúpidos. La tarea del trader es solo esperar y esperar esta ver una oportunidad de compra o venta. Salvándose de morir en el intento de sacar beneficios de los mercados. ¿Que representa el precio?, ¿Que son los toros?, ¿Que son los osos? y mas importante. Quienes son los cerdos y los corderos en el mundo del trading. Nombre que se les da a estas personas de acuerdo sus capacidades de ganar o perder en una masa de pensamientos tan diversos y siempre en conflicto. Alexander Elder nos dice "Cada precio representa el consenso de la multitud". Multitud de la cual debemos siempre salir ganando.

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Please enjoy my monologue Alexander Elder Rewind with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive. --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

The Alexander Elder Rewind is a must listen two episode show. Classic Elder!

Adam creates a hypnosis session based on the book Trading for a Living by Alexander Elder. This hypnosis session will help give you the three core principles to help you be able to avoid the core mistakes when it comes to investing and day trading. This episode was sponsored by Luke Dominique Warner, for his incredible wife Ash, who has started trading, and to all their friends who we've inspired to become financially independent and to anyone else along this worthy journey to become the best trader. Luke can be found here: https://www.instagram.com/ldw_888/ Find Adam on Instagram at: https://www.instagram.com/adamcoxofficial/ For information on Adam go to https://www.adamcox.co.uk/ To book a free 30-minute consultation call to consider working with Adam go to: https://go.oncehub.com/AdamCox 

GainCast#76 - Na batida do trade, William Marques e suas estratégias musicais para o mercadoWilliam tem em Alexander Elder seu grande mentor e baseia suas estratégias nos conceitos do trader russo-americano. Em fala em detalhes sobre suas operações em day trade e swing trade.Não é afeito a muitas operações no mesmo dia, acredita que o day trade não pode te obrigar a operar todos os diasConteúdo de excelente qualidade nesse episódioHosts:⠀André Moraes e Roberto Indech⠀⠀Convidado:⠀William Marques⠀Instagram:⠀⠀⠀⠀⠀⠀@andreribeiromoraes⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀@noradardodinheiro⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀@william.marques77⠀⠀⠀@xpinvestimentos⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀@ricocomvc⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀@clearcorretora⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀Edição e Produção:⠀⠀⠀⠀⠀⠀@cassaca⠀⠀⠀⠀⠀@edugeraldini ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀@nathanlaurino⠀⠀

Discover what Alexander Elder recommends us to analyse Start your journey to abundance and freedom at https://bit.ly/ksecrt

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VIVIR DEL TRADING de Alexander Elder   Escúchalos por podcast:  https://anchor.fm/trading-books https://podcasters.spotify.com/podcast/0ChuLYjd9wr6HPKp1OExNF  ¡Descarga los Libros GRATIS!: https://eritrix.wixsite.com/librosdetrading1 https://eritrix.wixsite.com/librosdetrading  ¡Conviértete en un support de este gran proyecto con alguna donación y  poder subir más libros! https://anchor.fm/trading-books/support   ¡SUBSCRIBETE!  https://www.youtube.com/AprendamosTradingOfficial  Twitter: https://twitter.com/AprendamosTrad  #vivirdeltrading #trading #forex   Capítulo 3 - El análisis gráfico tradicional Reflexión Capítulo 3: El análisis de gráficos llamado "chartismo" es en  parte una ciencia y un arte que ha ayudado a los traders a identificar  patrones que ayuden a seguir tendencias en los mercados. Aunque se dice que la mayor parte del tiempo, los mercados viven en  oscilaciones, el chartismo nos ayudara a identificar estas  configuraciones al momento de tendencias existentes.  Chartismo, Una forma tradicional de hacer trading sin la ayuda de los  acontecimientos fundamentales en la economía global.Sino solo unas  figuras que se logran ver y dando las formas a esas figuras como los  griegos veían las estrellas para hacer sus figuras. Introducción al chartismo e instrumentos claves como los soportes y  resistencia, canales, figuras, lineas de tendencia y otros mas que son  sin duda importantes y elementales del trading.  WOW CADA VEZ ME ENAMORA ESTE LIBRO !!!!  Twitter https://twitter.com/AprendamosTrad  VIVIR DEL TRADING

VIVIR DEL TRADING de Alexander Elder  Capítulo 2 - La psicología de masas #vivirdeltrading #librosdetrading #comovivirdeltrading  Reflexión Capítulo 2: Un trader nunca puede ir en contra de la de multitud. La muchedumbre son  quienes puede decidir hacia donde se dirigen los mercados pero al igual  son los grupos mas estúpidos. La tarea del trader es solo esperar y esperar esta ver una oportunidad  de compra o venta. Salvándose de morir en el intento de sacar beneficios  de los mercados.  ¿Que representa el precio?, ¿Que son los toros?, ¿Que son los osos? y  mas importante. Quienes son los cerdos y los corderos en el mundo del  trading. Nombre que se les da a estas personas de acuerdo sus  capacidades de ganar o perder en una masa de pensamientos tan diversos y  siempre en conflicto. Alexander Elder nos dice "Cada precio representa  el consenso de la multitud". Multitud de la cual debemos siempre salir  ganando.  Escúchalos por podcast:  https://anchor.fm/trading-books https://podcasters.spotify.com/podcast/0ChuLYjd9wr6HPKp1OExNF  ¡Descarga los Libros GRATIS!: https://eritrix.wixsite.com/librosdetrading1 https://eritrix.wixsite.com/librosdetrading  ¡Conviértete en un support de este gran proyecto con alguna donación y  poder subir más libros! https://anchor.fm/trading-books/support   ¡SUBSCRIBETE!  https://www.youtube.com/AprendamosTradingOfficial  Twitter: https://twitter.com/AprendamosTrad  #vivirdeltrading #trading #libros   VIVIR DEL TRADING . . .

Segunda parte de este exelente libro que nos mostraran todas las facetas del Trading Actual.

Dr. Alexander Elder, professional trader, and author of The New Trading for a Living book, joins us to discuss common day trading questions and how traders can be best prepared in the markets. What indicators are most useful when day trading? And what are the most important trading lessons Dr. Elder has learned? Join us on this episode of Trading Global Markets Decoded to find out.

Primera Parte. Psicologia, Disciplina, Herramientas y Sistema de Trading.

Tercera parte del libro Vivir del Trading de Alexander Elder

Cuarta y última parte del libro Vivir del Trading de Alexander Elder

Segunda parte del libro Vivir del Trading de Alexander Elder

Al escoger Vivir del trading acaba de dar usted un gran paso para distinguirse rápidamente de los aficionados. Con esta decisión se ha dotado de los medios necesarios para llegar a ser un trader de éxito. El Dr. Elder le ayudará a disciplinar el espíritu, le mostrará los métodos de trading eficaces para batir al mercado y gestionar su capital de manera que ninguna serie de pérdidas pueda expulsarle del mercado.

In this week's episode I look back at the key lessons and 5 components for traders Goals Before I had a giant goal, which was completely unreasonable Outcomes based No plan Now My goal is simple- A perfect trade Keep and update my journal regularly Read one trading book per month. Focusing on the weakest link (Me) Money management Before I simply didn't have any money management or risk management what's so I was the typical losing trader, I let my losers run with hopes that they would turn back in my direction until usually Sometimes I would literally take a trade and hope for the best Now Now I subscribe to the mantra of only risking 2% of capital per trade I am rigid with my stop loss, and I have no opinions on where my stop loss should be. I just place it where my predetermined plan tells me to put My position sizing also adheres to the 2% rule and I don't compromise Discipline Before To be honest I had no process or plan to be discipline to. I have key fundamental goals and processes that bring me closer to my goals Now I read a book everyday Exercise I have 18H00 appointment with my domestic watchlist (Resi and Finings index) I only take trades that the 7/21 System give on those two indecies. Resources I was trading an account far too small and I had unrealistic expectations. Still don't have enough capital to trade with discipline and proper risk management. That's why I am trading a demo, to work on myself while I keep slowly building up the required capital to trade with discipline. System Before In all honestly I didn't have a system. I was jumping from system to system. Essentially I was caught in that vicious cycle of looking for a holy grail system that has 100% win rate. Which none exist. And jumping from timeframe to timeframe. Now I only trade the one system, the 7/21 system Only on a daily chart Only on the Fini and the Resi index Only the mini contract. I now keep it simple My book recommendation Trading in the zone -Mark Douglas Trading for a living - Dr Alexander Elder. Follow us : https://twitter.com/villagetrader2 Visit : village trader.co.za

Hay varios datos que Alexander Elder verifica antes de operar cualquier acción, tanto en largo como en corto. Uno de ellos es el short interes (a veces llamado short float). Veamos qué ventajas puede aportarnos al hacer trading.

Hello Hockey Fans! In Episode 4 of Puck Buddies Hockey Podcast we chat with Vancouver Canucks alumnus Dennis Kearns, the Quinn Hughes of the 1970s. The veteran of 677 NHL games finished his career with 321pts, a team record for a Canucks defender at the time. His record has since been tied by Jyrki Lumme and it has been surpassed by only Matthias Ohlund (325pts) & Alexander Elder (389pts & counting). In 1976-77 Mr. Kearns scored 60pts to set a single season team record for points by a defenseman, which stood until the 1986-87 season when it was broken by Doug Lidster. Perhaps most impressively, his 55 assists during the 1976-77 season is a total that has been surpassed by only six other Canucks in franchise history. Andre Boudrias, Thomas Gradin, Cliff Ronning, Markus Naslund and Daniel & Henrik Sedin. Illustrious company for the diminutive defensman. Check it out & be sure to subscribe!

Listen as Nik Patel, author of An Altcoin Trader's Handbook, teaches you what you need to do to retire next alt season. We discuss his trading journey, how and why he wrote his book, his trading strategy, how to guage altcoin fundamentals and technicals, his plans for the future, and his biggest tips on how to successfully trade altcoins. If you missed the last altseason, this episode will give you the tools you need so that you are preppared for the next one. Book Recommendations: An Altcoin Trader's Handbook: https://amzn.to/37rUvSK Principles by Ray Dalio: https://amzn.to/2OAvj3S Mastering The Market Cycle by Howard Marks: https://amzn.to/2D4WgHk The 10X Rule by Grant Cardone: https://amzn.to/2QG7iuN The New Trading For A Living by Alexander Elder: https://amzn.to/2XHAXVV Websites: Twitter: https://twitter.com/cointradernik Blog: https://www.altcointradershandbook.com/ Sponsors: Nothing in this podcast or on my personal twitter account constitute financial advice. I am not a qualified financial advisor. There are risks involved with trading that could result in a complete loss of funds. This episode and all future episodes are for entertainment purposes only. This episode was brought to you in part by our sponsor DueDex. DueDex is a new cryptocurrency derivatives trading platform that aims to provide a fair and professional experience for its users. With 3rd party market makers and no exchange token or internal trading desk DueDex creates transparency & puts its customer first. A few of the features include 100x leverage trading, perpetual swaps without expiry date and daily settlement, 100,000 TPS per contract, and no KYC. Head on over to DueDex today and receive $100 when you sign up and make your first deposit. Twitter: https://twitter.com/DueDEX_Official Website: DueDEX.com/CharlesTheETH

The best time to make money in the stock market is when markets plummet. Alexander Elder joins Robert & Kim to discuss the techniques he uses to profit during down markets. Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.S. has started trade wars with China, Europe and Canada. In this episode, Robert & Kim speak with Alexander Elder about Trump’s strategy. Find out what the intended and unintended consequences of these trade wars will have on your investing, your business and your retirement. Learn more about your ad choices. Visit megaphone.fm/adchoices

My guest today is Alexander Elder. He has written some of the most popular trading books of the last 30 years. He grew up in Estonia among a successful family of doctors. Alexander followed in his family's footsteps, becoming a doctor and making his way on a cargo ship. He ran from his ship to a U.S. Embassy, escaping from his country. His decision to jump ship was literally the best decision of his life. He is author of Trading for a Living, considered a modern classic among traders, an international best-seller, translated into 16 languages, and recently newly revised and released under the title, The New Trading for a Living. The topic is his book The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management (Wiley Trading). In this episode of Trend Following Radio we discuss: Robustness Persistence Importance of record keeping Systems trading Skiing and yoga – staying in the moment of now Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

Alexander Elder has written some of the most popular trading books of the last 30 years. He grew up in Estonia among a successful family of doctors. Alexander followed in his family’s footsteps, becoming a doctor and making his way on a cargo ship. He ran from his ship to a U.S. Embassy, escaping from his country. His decision to jump ship was literally the best decision of his life. He is author of Trading for a Living, considered a modern classic among traders, an international best-seller, translated into 16 languages, and recently newly revised and released under the title, The New Trading for a Living. This is his second appearance on the show. How is Alexander’s trading different? Alexander is motivated by creating quality. He has a sense and intuition for it. Someone who is losing money looks at their situation “like a rabbit running from a snake.” Alexander thinks differently. He trades by way of systems. He has his orders set for the day, goes skiing, then comes back to the computer to watch the last hour of trading to see if he needs to make any adjustments. He learns from his mistakes and makes sure his systems are the highest quality they can be. What was the pivotal moment that broke Alexander into the trading direction he is in? There was not one moment, but many losing ones. He hates to lose. He overcame his losing over time with persistence and stubbornness. He studied his systems and trades vigorously until he had a winning system. Another motivation? Knowing that failure was not an option. Alexander grew up in a successful family with money – If he failed in his home country, he would have been taken care of. However, now that he was in the United States, he knew if he failed he would be on the street. There would be nobody to take care of him. Do you hit rock bottom and paddle up? Or do you stay there and become a bum? Alexander chose to paddle up.

¡Muy buenos días a todos! Cada persona es diferente y es por eso que recomienda diferentes libros porque la variedad no es poca. Cuando voy a una librería tipo Casa del libro, Fnac o Corte Inglés y me pongo a mirar en la estantería de finanzas, me quedo boquiabierto. Y es que la oferta no para de crecer y crecer. Mi duda es si también lo hace la demanda. Pues bien, voy a estructurar estas recomendaciones en varias partes muy diferenciadas: Psicotrading: – Vivir del Trading, de Alexander Elder. Este autor tiene varios libros interesantes. De hecho, comentaré otro más tarde en otra sección y esto te demuestra lo bueno que era. Capaz de escribir sobre diferentes tipologías de trading y no quedarse atrás en ninguna de ellas. En este caso, este psicólogo ruso emigrante a USA, nos deleita con explicaciones de todo tipo a nivel psicológico de como afecta la psicología en las inversiones, como debemos hacer mucho hincapié en el riesgo de las operaciones y en manejar las emociones. – Trading en la zona de Mark Douglas. Libro que explica de base, todos los problemas que tiene un trader desde la vertiente psicológica. Creo que lo mejor es empezar sabiendo los errores que tiene un trader común para que cuando vayamos empezando a operar, los tengamos en cuenta para evitarlos. – Psicotrading, Gestión emocional del inversor por Germán Antelo. Un gran amigo y mejor persona. Germán es de lo mejorcito que hay en españa en cuanto a psicotrading. La verdad es que siempre que asisto a una de sus conferencias voy con la idea de que no voy a aprender nada nuevo y cuando me siento, me quedo boquiabierto desde el minuto 0 hasta el final. Increíble. Me sorprende con sus analogías, con sus explicaciones y con sus razonamientos. Te clarifica y te hace reflexionar de forma constante para que te des cuenta que el trading no es solo saber como hacerlo, sino hacerlo de una manera concreta, teniendo en cuenta que vendrán adversarios psicológicos y te da las claves para solucionarlo de maneras sencillas. Sin duda, un libro recomendable, no solo por lo que aprendes, sino por lo que desaprendes ya que repasa todos los mitos y creencias de la profesión y las explica para que te des cuenta que nos equivocamos muchas veces en juzgar esta profesión. Espero de hecho, tener a Germán pronto en una entrevista porque como digo, me fascina. Trading como estilo de vida: – Padre Rico, Padre Pobre de Robert Kiyosaki. Fue el iniciador de todo esto. Por culpa de este libro estoy haciendo este podcast, la web y los años dedicados al trading. Robert Kiyosaki nos enseña en uno de los libros más amenos que he leído nunca, como tenemos la mentalidad de la carrera de la rata y como podemos liberarnos. – Secretos de la mente millonaria de Harv Eker. Te explica de una manera muy amena como nos tenemos que programar conscientemente para tener y ganar dinero. Es una guía de como piensan estos autores desde una vertiente psicológica y más encarada hacia el éxito. Es un libro que te da un subidón de energía y de motivación. Lo recomiendo sin ningún tipo de duda. – La simplicidad del primer millón de Aitor Zárate. empecé a interesarme por este hombre después de leer este libro y de escuchar sus podcasts. – El factor K de Aitor Zárate. Este libro me fascinó. Aunque es muy difícil de encontrar ahora, yo me hice con una copia cuando salió y la tengo guardada como oro en paño. Fue importante para mi en aquel entonces porque simbolizó el comienzo. El saber por donde tenia que ir y para saber como quería enfocar parte de mi vida. Me cambió más aún. Genérico de trading: – Sell and Sell Short de Alexander Elder. Este es un libro que se ha de coger pronto. Es un libro completo, que contiene un montón de información relevante, buena y directa. Esta información es de toda tipología, ya sea análisis técnico como de psicología y actitud. Es un excelente libro para formarte sobre como tienes que gestionar el riesgo en las operaciones a la vez que te ayuda a la gestión del trading en general. Al final, es un libro que como digo, es completo y que creo que es conveniente para aquellos que quieran aprender de todo un poco y no sepan por donde empezar. Es un buen comienzo, para un gran aprendizaje. Cabe decir que este libro no está en español aún, pero para aquellos que el idioma no sea una barrera, es un libro perfecto para empezar. – Manual del Buen Bolsista de José Antonio Fernández Hódar. Con 12 ediciones a las espaldas, te enseña su camino personal de como ha ido desde inversor a gestor de patrimonios, pasando por conferenciante, profesor y otras facetas. Es un libro que habla sobre mercados y sobretodo bolsa, aunque se puede extrapolar sin problemas. Es un libro para iniciados y para los que la lengua de Shakespeare les de problemas, sin duda. – El fabuloso mundo del dinero y la bolsa de André Kostolany. Es un clásico. Fue para mi divertido al principio porque explica un montón de anécdotas de todo tipo divertidas y que es bueno conocer. También he de confesar que hacia el final se me hizo pesado. – Análisis Técnico de los Mercados Financieros de John Murphy. Creo que no hay libro más extenso en cuanto a análisis técnico. Es un manual más que un libro, de análisis técnico. Al menos es lo que yo vi. Poco ameno en algunos puntos, es un referente porque lo engloba todo. Desde la teoría del DOW hasta un análisis de soportes a resistencias pasando por muchas técnicas y muchos gráficos (de hecho se dice que tiene más de 400. No los he contado pero te lees varios capítulos y te das cuenta que a lo mejor no son 400 sino más incluso!). Es una manera de empaparte a fondo de todo este tipo de análisis de la mano de un autor que ha escrito otros libros parecidos pero que a mi parecer, no les llega a la misma altura que este. Por deciros algo, este autor fue director de Merrill Lynch, un wealth management que actualmente tiene casi 14 billones americanos en gestión. Se dice pronto. – El método Wyckoff de Enrique Diaz Valdecantos. La verdad es que este libro le tengo un especial cariño dado su autor. Kike es un conocido que gracias a un evento que hice en Barcelona lo conocí y mantengo contacto cuando nos volvemos a ver en otro evento. Es una magnífica persona y gran conocedor de Richard Wyckoff dejando atrás el simple análisis técnico para pasar a dar un plus a la operativa. La verdad, recomendable por aprender más, añadir más temario de conocimiento y porque se hace muy ameno. Intentaré tenerlo también pronto para hacerle una entrevista y que pueda darnos su visión de todo tras su viva voz y conocimiento. – Sistemas de Especulación en Bolsa, de José Luís Cava. Es otro de los clásicos que destaca por enseñarnos su estudio de Ondas de Elliott y análisis técnico en general. Para mi es un poco pesado en muchas partes del libro, pero creo que su tecnicidad es lo que lo hace potente. Si fuera menos o más técnico de lo que lo es, creo que no lo recomendaría. Al principio del trading tienes que leer de todo para empaparte de tecnicismos, técnicas y de todo el conocimiento posible y creo que este no puede faltar en la lista. – El Inversor Inteligente, de Benjamin Graham. Otro clássico para la biblioteca y que fue considerado durante mucho tiempo el padre del Value Investing. Se dice que este autor es el que está detrás de los cimientos de conocimiento de Warren Buffet. No sé hasta que punto es cierto, aunque lo que si que es cierto es que te explica todo acerca del análisis fundamental. No es de mi devoción tampoco y tampoco es muy ameno tampoco, pero creo que se ha de conocer de todo para poder opinar y para saber si te gusta o no te gusta este tipo de análisis. Y con estos libros hay para rato. La verdad es que hay libros que no he puesto y que son los que me estoy leyendo ahora mismo. Los recomendaré para otro viernes y es que quiero instaurar un poco de relax para el viernes y encararme más a qué hacer durante el fin de semana que el mercado está cerrado. Con esto quiero decir que claro, ya que tenemos 2 días con el mono subido de no poder operar, tenemos que buscar una alternativa que nos apague la lucecita del querer aprender más sobre estos temas y es por eso que quiero dedicar cada viernes a algo así. Para el viernes que viene haré también sobre libros, pero más técnicos y dedicados a informática y trading. ¡Y con estas recomendaciones acabo por hoy! Recordaros antes de irme de fin de semana, que os recomiendo inscribiros al canal y que os agradecería mucho un me gusta en iVoox y 5 estrellas en iTunes! ¡Muchas gracias! ¡Buen fin de semana a todos! ¡Hasta el lunes! La entrada 45. Libros de trading aparece primero en Ferran P..

¡Muy buenos días a todos! Cada persona es diferente y es por eso que recomienda diferentes libros porque la variedad no es poca. Cuando voy a una librería tipo Casa del libro, Fnac o Corte Inglés y me pongo a mirar en la estantería de finanzas, me quedo boquiabierto. Y es que la oferta no para de crecer y crecer. Mi duda es si también lo hace la demanda. Pues bien, voy a estructurar estas recomendaciones en varias partes muy diferenciadas: Psicotrading: – Vivir del Trading, de Alexander Elder. Este autor tiene varios libros interesantes. De hecho, comentaré otro más tarde en otra sección y esto te demuestra lo bueno que era. Capaz de escribir sobre diferentes tipologías de trading y no quedarse atrás en ninguna de ellas. En este caso, este psicólogo ruso emigrante a USA, nos deleita con explicaciones de todo tipo a nivel psicológico de como afecta la psicología en las inversiones, como debemos hacer mucho hincapié en el riesgo de las operaciones y en manejar las emociones. – Trading en la zona de Mark Douglas. Libro que explica de base, todos los problemas que tiene un trader desde la vertiente psicológica. Creo que lo mejor es empezar sabiendo los errores que tiene un trader común para que cuando vayamos empezando a operar, los tengamos en cuenta para evitarlos. – Psicotrading, Gestión emocional del inversor por Germán Antelo. Un gran amigo y mejor persona. Germán es de lo mejorcito que hay en españa en cuanto a psicotrading. La verdad es que siempre que asisto a una de sus conferencias voy con la idea de que no voy a aprender nada nuevo y cuando me siento, me quedo boquiabierto desde el minuto 0 hasta el final. Increíble. Me sorprende con sus analogías, con sus explicaciones y con sus razonamientos. Te clarifica y te hace reflexionar de forma constante para que te des cuenta que el trading no es solo saber como hacerlo, sino hacerlo de una manera concreta, teniendo en cuenta que vendrán adversarios psicológicos y te da las claves para solucionarlo de maneras sencillas. Sin duda, un libro recomendable, no solo por lo que aprendes, sino por lo que desaprendes ya que repasa todos los mitos y creencias de la profesión y las explica para que te des cuenta que nos equivocamos muchas veces en juzgar esta profesión. Espero de hecho, tener a Germán pronto en una entrevista porque como digo, me fascina. Trading como estilo de vida: – Padre Rico, Padre Pobre de Robert Kiyosaki. Fue el iniciador de todo esto. Por culpa de este libro estoy haciendo este podcast, la web y los años dedicados al trading. Robert Kiyosaki nos enseña en uno de los libros más amenos que he leído nunca, como tenemos la mentalidad de la carrera de la rata y como podemos liberarnos. – Secretos de la mente millonaria de Harv Eker. Te explica de una manera muy amena como nos tenemos que programar conscientemente para tener y ganar dinero. Es una guía de como piensan estos autores desde una vertiente psicológica y más encarada hacia el éxito. Es un libro que te da un subidón de energía y de motivación. Lo recomiendo sin ningún tipo de duda. – La simplicidad del primer millón de Aitor Zárate. empecé a interesarme por este hombre después de leer este libro y de escuchar sus podcasts. – El factor K de Aitor Zárate. Este libro me fascinó. Aunque es muy difícil de encontrar ahora, yo me hice con una copia cuando salió y la tengo guardada como oro en paño. Fue importante para mi en aquel entonces porque simbolizó el comienzo. El saber por donde tenia que ir y para saber como quería enfocar parte de mi vida. Me cambió más aún. Genérico de trading: – Sell and Sell Short de Alexander Elder. Este es un libro que se ha de coger pronto. Es un libro completo, que contiene un montón de información relevante, buena y directa. Esta información es de toda tipología, ya sea análisis técnico como de psicología y actitud. Es un excelente libro para formarte sobre como tienes que gestionar el riesgo en las operaciones a la vez que te ayuda a la gestión del trading en general. Al final, es un libro que como digo, es completo y que creo que es conveniente para aquellos que quieran aprender de todo un poco y no sepan por donde empezar. Es un buen comienzo, para un gran aprendizaje. Cabe decir que este libro no está en español aún, pero para aquellos que el idioma no sea una barrera, es un libro perfecto para empezar. – Manual del Buen Bolsista de José Antonio Fernández Hódar. Con 12 ediciones a las espaldas, te enseña su camino personal de como ha ido desde inversor a gestor de patrimonios, pasando por conferenciante, profesor y otras facetas. Es un libro que habla sobre mercados y sobretodo bolsa, aunque se puede extrapolar sin problemas. Es un libro para iniciados y para los que la lengua de Shakespeare les de problemas, sin duda. – El fabuloso mundo del dinero y la bolsa de André Kostolany. Es un clásico. Fue para mi divertido al principio porque explica un montón de anécdotas de todo tipo divertidas y que es bueno conocer. También he de confesar que hacia el final se me hizo pesado. – Análisis Técnico de los Mercados Financieros de John Murphy. Creo que no hay libro más extenso en cuanto a análisis técnico. Es un manual más que un libro, de análisis técnico. Al menos es lo que yo vi. Poco ameno en algunos puntos, es un referente porque lo engloba todo. Desde la teoría del DOW hasta un análisis de soportes a resistencias pasando por muchas técnicas y muchos gráficos (de hecho se dice que tiene más de 400. No los he contado pero te lees varios capítulos y te das cuenta que a lo mejor no son 400 sino más incluso!). Es una manera de empaparte a fondo de todo este tipo de análisis de la mano de un autor que ha escrito otros libros parecidos pero que a mi parecer, no les llega a la misma altura que este. Por deciros algo, este autor fue director de Merrill Lynch, un wealth management que actualmente tiene casi 14 billones americanos en gestión. Se dice pronto. – El método Wyckoff de Enrique Diaz Valdecantos. La verdad es que este libro le tengo un especial cariño dado su autor. Kike es un conocido que gracias a un evento que hice en Barcelona lo conocí y mantengo contacto cuando nos volvemos a ver en otro evento. Es una magnífica persona y gran conocedor de Richard Wyckoff dejando atrás el simple análisis técnico para pasar a dar un plus a la operativa. La verdad, recomendable por aprender más, añadir más temario de conocimiento y porque se hace muy ameno. Intentaré tenerlo también pronto para hacerle una entrevista y que pueda darnos su visión de todo tras su viva voz y conocimiento. – Sistemas de Especulación en Bolsa, de José Luís Cava. Es otro de los clásicos que destaca por enseñarnos su estudio de Ondas de Elliott y análisis técnico en general. Para mi es un poco pesado en muchas partes del libro, pero creo que su tecnicidad es lo que lo hace potente. Si fuera menos o más técnico de lo que lo es, creo que no lo recomendaría. Al principio del trading tienes que leer de todo para empaparte de tecnicismos, técnicas y de todo el conocimiento posible y creo que este no puede faltar en la lista. – El Inversor Inteligente, de Benjamin Graham. Otro clássico para la biblioteca y que fue considerado durante mucho tiempo el padre del Value Investing. Se dice que este autor es el que está detrás de los cimientos de conocimiento de Warren Buffet. No sé hasta que punto es cierto, aunque lo que si que es cierto es que te explica todo acerca del análisis fundamental. No es de mi devoción tampoco y tampoco es muy ameno tampoco, pero creo que se ha de conocer de todo para poder opinar y para saber si te gusta o no te gusta este tipo de análisis. Y con estos libros hay para rato. La verdad es que hay libros que no he puesto y que son los que me estoy leyendo ahora mismo. Los recomendaré para otro viernes y es que quiero instaurar un poco de relax para el viernes y encararme más a qué hacer durante el fin de semana que el mercado está cerrado. Con esto quiero decir que claro, ya que tenemos 2 días con el mono subido de no poder operar, tenemos que buscar una alternativa que nos apague la lucecita del querer aprender más sobre estos temas y es por eso que quiero dedicar cada viernes a algo así. Para el viernes que viene haré también sobre libros, pero más técnicos y dedicados a informática y trading. ¡Y con estas recomendaciones acabo por hoy! Recordaros antes de irme de fin de semana, que os recomiendo inscribiros al canal y que os agradecería mucho un me gusta en iVoox y 5 estrellas en iTunes! ¡Muchas gracias! ¡Buen fin de semana a todos! ¡Hasta el lunes! La entrada 45. Libros de trading aparece primero en Ferran P..

Summary Trading stocks is a psychological discipline. Find out if you have what it takes to learn or improve your stock trading skills. Renowned trader Alexander Elder joins Andy to ... Read More

Si te ha gustado este Podcast y quieres saber más sobre Trading Automático, suscríbete a nuestra newsletter en http://bit.ly/2fdiMBh y recibe gratis un manual sobre carteras de sistemas automáticos de trading. ¡Bienvenidos a un nuevo episodio de Trading System Podcast! En esta ocasión tengo la increíble suerte de poder entrevistar a Javier Alfayate, gestor de un fondo de inversión y autor de libros referentes en el trading automático en España. Durante este episodio Javier nos contará como se inició en los mercados financieros y como ha planteado su operativa hacia el medio largo plazo. Basados en parámetros técnicos y de fortalezas, los sistemas de Javier son fácilmente reproducibles. En sus libros (https://www.amazon.es/Libros-Javier-Alfayate/s?ie=UTF8&page=1&rh=n%3A599364031%2Cp_27%3AJavier%20Alfayate) no sólo enseña estas estrategias si no que añade los códigos para acercar sus sistemas a todo tipo de inversores. Recientemente ha publicado la versión Advanced de su éxito Master Trader. Con más de 10 años operando sistemas, la experiencia de Javier es innegable. Pero uno de sus mayores logros es, sin duda, haber sido capaz de llevar su modelo de inversión y sus sistemas hasta un fondo de inversión, que actualmente gestiona. Aquí os dejo los enlaces a esta nueva entrega de Trading System Podcast. ¡Espero que os guste! XX XX No dudéis es suscribiros a la web donde os mandaremos artículos de interés, lanzamientos de nuestros cursos formativos y todas la novedades de Trading System Club. También podéis suscribiros al podcast de Trading System Podcast en iVoox y iTunes, y os agradeceríamos que nos dejarais una reseña contándonos vuestra opinión, vuestras dudas, a quien os gustaría que entrevistáramos o que tema queréis que tratemos. A continuación os dejo los enlaces comentados en el episodio: Libros: • Intermarket Analysis: Profiting from Global Market Relationships. John J. Murphy. https://www.amazon.com/Intermarket-Analysis-Profiting-Relationships-Trading/dp/0471023299 • Secretos Para Ganar En Los Mercados Alcistas Y Bajistas. Stan Weinstein. https://www.amazon.es/Secretos-Ganar-Mercados-Alcistas-Bajistas/dp/8493622621 • Fabuloso mundo del dinero y la bolsa. Andre Kostolany. https://www.amazon.es/Fabuloso-mundo-del-dinero-bolsa/dp/8496529428 Otros Autores: • Alexander Elder. https://www.amazon.com/Alexander-Elder/e/B000APCUD0 • Steve Nison. https://www.amazon.es/s/?ie=UTF8&keywords=steve+nison&tag=hydes-21&index=aps&hvadid=21478604968&hvpos=1t2&hvnetw=g&hvrand=10481599150276085739&hvpone=&hvptwo=&hvqmt=e&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9061052&hvtargid=kwd-50072532&ref=pd_sl_c8lrphrny_e

Si te ha gustado este Podcast y quieres saber más sobre Trading Automático, suscríbete a nuestra newsletter en http://bit.ly/2fdiMBh y recibe gratis un manual sobre carteras de sistemas automáticos de trading. ¡Bienvenidos a un nuevo episodio de Trading System Podcast! En esta ocasión tengo la increíble suerte de poder entrevistar a Javier Alfayate, gestor de un fondo de inversión y autor de libros referentes en el trading automático en España. Durante este episodio Javier nos contará como se inició en los mercados financieros y como ha planteado su operativa hacia el medio largo plazo. Basados en parámetros técnicos y de fortalezas, los sistemas de Javier son fácilmente reproducibles. En sus libros (https://www.amazon.es/Libros-Javier-Alfayate/s?ie=UTF8&page=1&rh=n%3A599364031%2Cp_27%3AJavier%20Alfayate) no sólo enseña estas estrategias si no que añade los códigos para acercar sus sistemas a todo tipo de inversores. Recientemente ha publicado la versión Advanced de su éxito Master Trader. Con más de 10 años operando sistemas, la experiencia de Javier es innegable. Pero uno de sus mayores logros es, sin duda, haber sido capaz de llevar su modelo de inversión y sus sistemas hasta un fondo de inversión, que actualmente gestiona. Aquí os dejo los enlaces a esta nueva entrega de Trading System Podcast. ¡Espero que os guste! XX XX No dudéis es suscribiros a la web donde os mandaremos artículos de interés, lanzamientos de nuestros cursos formativos y todas la novedades de Trading System Club. También podéis suscribiros al podcast de Trading System Podcast en iVoox y iTunes, y os agradeceríamos que nos dejarais una reseña contándonos vuestra opinión, vuestras dudas, a quien os gustaría que entrevistáramos o que tema queréis que tratemos. A continuación os dejo los enlaces comentados en el episodio: Libros: • Intermarket Analysis: Profiting from Global Market Relationships. John J. Murphy. https://www.amazon.com/Intermarket-Analysis-Profiting-Relationships-Trading/dp/0471023299 • Secretos Para Ganar En Los Mercados Alcistas Y Bajistas. Stan Weinstein. https://www.amazon.es/Secretos-Ganar-Mercados-Alcistas-Bajistas/dp/8493622621 • Fabuloso mundo del dinero y la bolsa. Andre Kostolany. https://www.amazon.es/Fabuloso-mundo-del-dinero-bolsa/dp/8496529428 Otros Autores: • Alexander Elder. https://www.amazon.com/Alexander-Elder/e/B000APCUD0 • Steve Nison. https://www.amazon.es/s/?ie=UTF8&keywords=steve+nison&tag=hydes-21&index=aps&hvadid=21478604968&hvpos=1t2&hvnetw=g&hvrand=10481599150276085739&hvpone=&hvptwo=&hvqmt=e&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9061052&hvtargid=kwd-50072532&ref=pd_sl_c8lrphrny_e

Successful investing today requires updated skills. Do you have them? Robert speaks with Dr. Alexander Elder & Rich Dad advisor Andy Tanner about what you need to adapt to market trends. Technology is speeding everything up, and what you relied on yesterday, may not work today. Robert, Elder & Tanner offer practical and accessible tips to investors of all levels. Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Gross: Okay, to everybody listening to today's Option Seller's Guest Series, we have a very special guest for you today. I am speaking with Dr. Alexander Elder. For those of you who may not be familiar with Dr. Elder, you should be. He is a legend in the trading world. He has two classic books: "At Least Trading for a Living" and "Come into my Trading Room", which I feel should be staples of anybody who's considering becoming a serious trader. Dr. Elder, welcome to the show today! Dr. Elder: Thank you very much! Pleasure being here. Gross: Dr. Elder, we're going to start. Obviously, our readers and listeners here sell options: some of them sell index options; some of them sell stock options. Obviously, here we talk about selling commodities options but I think it might be interesting to a lot of our listeners and readers to hear your story. You have a very interesting story about how you got to this country and how you got started in trading and I wonder if you wouldn't mind sharing that. Dr. Elder: Well... I was born. Sometimes people ask me, "Where are you from?" I say, "I was born in a non-existent country. I was born in the Union of the Soviet Socialist Republic." To make a very long story very short, I early on developed a massive hatred of the Soviet system. And I got involved in politics, which was a dangerous business in the old country. And eventually, I realized I didn't want to go to a Soviet prison so I got a job on a ship and I jumped ship in Africa. I came to the United States. The embassy people – the US embassy people - flew me from Africa to New York. I came to New York with 20 dollars - 18 dollars to my name. And that was my arrival here. I worked. I took all kinds of exams because back in the old country, I went to medical school, actually graduated medical school, and got my MD at a tender age of 22. So I reconfirmed my diplomas here. I did my residency in New York and got a teaching position at Columbia University. So while all of that was going on, I'm generally a very curious person. I want to know about different things, and I found such a thing called the stock market. Well, that just sounded so exciting. I started reading books and I started gambling. I mean, of course, I didn't think of it as gambling at that time but gambling it was. And I had a tiny account, you know - 5000-dollar account. I would run it into the ground, make some more money, open another tiny account, run it into the ground and eventually I learned enough that I stopped running it into the ground. Now, took me years, took me years to overcome that obstacle. And to this day, I'm saying to people that a higher degree of formal education is an obstacle to successful training. The higher your formal education, the more difficult it's going to be for you to learn how to trade - and there's a very good reason for that. But once I figured out the game, once I began trading properly, I realized that there hasn't been a book that properly explained everything I needed. And I wrote a book, I wrote a book that was basically a book I wish I could have bought 5 years earlier. And that was "Trading for a Living". It became a huge best seller, an international best-seller translated into 14 languages and still a best-seller in the US for over 20 years. Just last year 2014, I produced a new edition of this book. The publisher was begging for a new edition for ages and I said, Well, I allocated three months to do a new edition. Well, it took me 18 months instead of three. I really completely rewrote the book. And so that's my book the new "Trading for a Living. That's... As far as for myself, I trade. I trade professionally. I spend a fair bit of time in front of the screen, mostly trading stocks and commodities. And I also love teaching. Whenever a company invites me to speak somewhere and pay for it, I am happy to get on a plane. I just came back from Asia. I was teaching almost a week-long course in Macau near Hong Kong. And then I was teaching a very long course in Tokyo. And this was a very wonderful trip. Made new friends, met some old friends, saw some old friends, and here I am back in Vermont which is I am based these days, far from the avenue crowd, with ten-mile views, in front of the live screen and occasionally talking to people like you. Gross: That's, that's fascinating beginning. You made an excellent point and I wanted to ask you about it. You said that you felt a higher education to becoming a successful trader. Can you explain now a little bit more? Dr. Elder: Yeah. Of course, it will be a pleasure. There are... in nature, in society, in civilization, in anything, there are two types of causation: dynamic causation and stochastic causation /. Dynamic causation is very simple: you have a stem on your desk. You push the stem, that stem moves in the direction, which you push it. Or you lift the stem, you release your fingers and the stem drops on the floor under the force of gravity. That's dynamic causation. If you do A, B will happen. 100%. Stochastic causation is, or some people have something to do with stochastic indicator. Some people call it probabilistic causation - is when an event happens only in a percentage of cases. Like for example, say you come to my house and I say to you, "Let's - we have half an hour before dinner. Let's play a little game. Here have a drawer with clean socks - black socks which I wear everyday and white socks which I wear to the gym. I have 10 pairs of black socks and 4 pairs of white socks. Now, you want to make a money bet and put your hand into the drawer blindly and pull a pair?" And you say, "Yes." And so what are you going to bet on? And of course you will say, "Well, I'm going to bet on black right because there are 10 black pairs therefore white pair." You put your hand without looking. And lo and behold, a white pair comes out. You lost your money. You do it again. And again, a white pair comes out. You lost your money again. And that's what it often happens in trading. What it means is in addition to having an idea of what you're going to buy or sell, you also have to placate that idea with money management because that idea will never be hundred percent. So that's the baseline. Now, you take an educated person, say, a doctor. The way we're trained, if a patient comes to a doctor and he is hurting somewhere, that person deserves a diagnosis. So a doctor will examine this patient, diagnose his problems, and prescribe treatment. Now suppose he cannot diagnose his problem, well he will order more tests. If he still cannot diagnose his problem, he will send him to a consultant. In other words, the patient deserves a diagnosis and the doctor will not stop until the diagnosis is made. A good doctor will not stop. But here's done in the financial markets, you can look at a stock and say, "Is this going up or down? Up or down? Up or down? Hmm ... I don't know." Well, let's pull maybe five more indicators? Ten more indicators? Apply speed lines. Apply Elliott wave. Apply Endelope. Apply. Apply. Apply. I'm going to apply enough tools and feel I have an answer which way the stock will go. And that is a total sack of shit. Because the stock happens to be in a chaotic state and applying more tools is a self-delusional thing. A good trade is supposed to jump off you from the screen. It's clear. And forcing a trade like that is a typical mistake of educated people who feel that if there are more tests and are more indicators, things are going to be hunky dory - which they are. A friend of mine who spent his professional life in Saudi Arabia working for Aramco, this American-Arabian oil company said to me, "If I were to come to my manager and say to him that I can design a pumping station that would work perfectly six times out of ten and four times it would blow up, my manager would lock me out of his office. But this is how I would have to function as a trader. I have to design a system that would work five, six times, blow up four times and I'm going to be ahead of the game at the end of the month. So that's what - that guy was working to overcome his perfectionism but this is why a high degree of education is really a negative, something to be overcome. Just in conclusion, there was a guy he died a few years ago. There was a guy in Chicago named Brian Morrison and he once said, "I have a Ph.D. in Mathematics. I specialize in Cybernetics. But I was able to overcome those disadvantages and make money." Gross: Boy, that's a fascinating observation and I think I agree with you. One of the biggest obstacles of traders is how they have to think about trading. And I think you're book is really focused on that as well - was the psychology of trading is one underestimated part of trading is what it is. Dr. Elder: Yeah. Respecting the randomness of the market, respecting the chaos of the market, and having the humility to say, I don't know this; I don't know that; and I am completely confused here BUT I have a notion of the certain pattern of order. And when that pattern encroaches from the chaos of the market, I'm going to pounce. I'm going to trade. But when there's no such pattern, I'm just going to sit back and wait. Scratch my nugget. Gross: Exactly. Exactly. Dr Alder, you do much of your work with individuals who want to trade for a living, who might even want to trade professionally. Here we… Dr. Elder: Not very much. Not very much. I used to enjoy private consulting. I kind of drifted out of it. I have a, I have a partner - [Name] - who left private consulting so when people come to me, when people come to me they want private consulting, I usually send them to Kelly. I always send them to Kelly 99% of the time. You know, there are things we do and things we get sort of out of good. What I am really focused on in terms of helping people see the way is I run this website together with my friend and business partner Kelly Lavone called Spikes Trade - SpikeTrades.com. And that's where, that's where we have traders competing for the best pick of the week. So we have a whole bunch of people submitting their favorite picks every weekend for the following week and of course... We run it essentially as a - we try to pick somebody real time. We measure their performance and winners receive bonuses. I think we're the only website that pays people for doing their homework. And I find that a lot of fun. So that's the kind of thing I enjoy doing as far as dealing with people. But sitting down with an individual, trying to help him, I'll do it once in a blue moon because it's really not where I am. Gross: So that's SpikeTrade.com? Dr. Elder: Yeah. Gross: Sounds like an excellent resource for anyone listening out there. Dr. Elder you made some great observations about the differences between investors, traders and gamblers. Can you briefly describe those differences based on your observations? Dr. Elder: You know, speaking, speaking about. Let's me speak about gamblers first. I was asked on the phone by a friend of mine earlier this morning. I have a very close friend - he is a dentist - who works like a donkey and makes very good money. And while his wife was alive, she was managing the finances and everything else. And ever since his wife died he was stunned, he was about forty, to manage the money. He showed me his account. I was appalled. This guy is putting quarter million dollars in his retirement fund every year and sometimes more. And the sum loses that money. Last time I saw, he showed me his paper he was in the million-dollar draw down. And I was saying to him, the kid is a gambler. He is not a stock trader. He - and actually he loves this one-week option. He is a gambler. And my friend says yes he just likes pushing the buttons. He likes pushing the buttons. So we were discussing how to take the kids away from the gambling. Gamblers are for the excitement of the game and they don't care about the results. Eventually they would love to have process of course but ultimately they are after the excitement. Not after the results. A trader discovers the patterns of the market, discovers some patterns of order and motion in care of the market. And trades have patterns. I can say that myself primarily a trade and most of my trades last from two days to a couple of weeks. An investor looks for the very long term. And I think at this day and age, investment is becoming - investing is becoming more and more difficult because of all the speeding up. The work has become way too fast and the old notion of stocks for widows and orphans, one decision starts - that's kind of outdated. You really have to be in tune with the swings of the market. Gross: Okay. So when you, when you talk about trading for the short, intermediate, longer term of you, do you have a preference there? Dr. Elder: Um, well I'm not sure what you mean by short, intermediate and long term trading. Gross: I know you're not a big fan of day trading. But you, I mean are your trades usually 1-2 weeks in duration or are you looking at a couple of months or longer? Dr. Elder: No, no, no, no. I would say a couple of weeks would be the far end of the thing. Gross: Okay. Dr. Elder: A few days - from a few days to maybe a couple of weeks and once in a blue moon a day trade. Sometimes when I am in front of the screen and nothing much preoccupies me I just this completely open day in front of me, I'll take a look at the screen. Maybe I'll find a day trade. But you lose from a few days to a couple of weeks. What I think is that I use technical analysis for tactical decision-making. And I find that with technical analysis is like head lights in the car - it lights up a little in front of you but it certainly doesn't light up - doesn't light up all the way home. So if you go with a reasonable speed, you see a bit of a difference ahead of you. And I say that if I can find the deviation in the market and trade against the deviation normal set, that's your last few days. Gross: Okay. Dr Elder, there's a lot of people the general public maybe not so much our listeners but a lot of people, even some financial media advisors consider public commodities a risky asset class and they try to steer their clients clear of it. What are your thoughts on that? Dr. Elder: I think - to start with a summary - I think there is nothing wrong with commodities. There is everything wrong with people who create commodities. The thing with commodities is this: that, well, most - the average lifetime a commodity is created is about three months. Why is it - why? It's because commodities are traded on paper thin margins. A stock trader may buy stocks put half the money down and half the money is margin. It's basically trading at 50% margin. He has to put down 50% of his purchase price. When you trade commodities, you can trade them on a 5% deposit. So some poor guy who has $20,000 dollars, he "invests" that money in a commodity trade and uses $20,000 dollars, he can control $400,000 dollars worth of merchandise. Now if it moves his way, it's magic. He can double his money in a hurry. But you know, if it doesn't go his way, it can actually move a day again. And if he moves a day again, by the time you settle a percentage, he loses half of his margins. His walker gives him a margin call and his trading career is finished. Commodities are wonderful, clean, open, tactical market. There is nothing wrong with commodities. As I said there is everything wrong with commodity traders mainly because they have no conception of leverage and of risk control and there are rules in controlling those risks. In my book, I even have tables which tell you this is how you find out which commodities you can afford to trade and which you cannot afford to trade. Then of course poor beginners crowd into this field not knowing how to control risks, what they can/cannot do. They get blown out. So I usually say to people commodities are not for beginners some stocks. Learn the game. Most important, learn risk management and then, if you're still interested in commodities, come on in. Gross: Dr. Elder are you there? Dr. Elder: Yeah yeah I'm still here. I think I might... Gross: I'm sorry. I thought it cut off. Okay. We've talked about that in our writing as well. And one observation I made early in my career was that people that, I thought was one of the biggest mistakes new commodities traders is they came in and they trade commodities like they trade stocks without understanding that leverage and they can't stay on the market even for the short term swings. So I agree with that a hundred percent. I know a lot of the work you do, you favor technical analysis. Can you comment on the differences and how you see fundamentals playing a role. Can those work together? Do you discard fundamentals? Or how do you regard the fundamental aspect of trading? Dr. Elder: You know, I'm afraid I have a very simple, not to say primitive approach to fundamentals in a sense that I get an idea that some things are important, some things make sense. And that turns me to a certain stock or a sector in the market. And then use technical analysis to sharpen my insights, to find the specific stocks or commodities for that matter to trade. For example, for example - according to The Economist magazine, by the end of the next decade, the world will have a hundred thousand professional drone operators. It's an amazing number. It will be a whole new line of business - whole line of work. And either it's going to be a whole lot of 100 thousand drone operators. I take it as a sign that there will be also a tremendous number of drones flying and being made. So why don't they look at drone companies? And that's pretty much the fundamental - that's the fundamental from the technical analysis from me. Get a bigger year. Get a bigger year. Or for example, a couple of weeks ago, I was teaching this class in Macau. One of my campers - one of my group participants asked me to look at this stock called PBR - Petroleo Brasileiro. It's a Brazilian national oil company. I haven't looked at. I was actually in Brazil a few years ago and somebody asked me in the class what's my favorite pick in the Brazilian market. And PBR was trading at $60 back then. And I said, of course PBR. You know, it was like I - it was a sacrilege to say something like that. It was actually funny. In any case, I look at the chart now, PBR used to be $70 and I suggested shorten that to $60. It's now trading below 5. And again just from reading magazines I know what's happening. Prices of gas dropped. But also there's a huge, huge, huge political scandal in Brazil and apparently PBR was giving money to the governing party for its campaigns. Huge political crisis in the country. And I'm saying to myself, well, the stock was trading at $70, it's now trading below 5. Meanwhile, it's really driven down by the times. Meanwhile, all these oil fields in Brazil, it has the monopoly. Brazil has a ton of oil and PBR is pumping that oil at a cost of $40 per barrel. So they're not making so much money now but they are still making a few bucks. And meanwhile, they own - they basically own the country's oil just the oil. The stock has been driven down by a tank. And now we switch to technical analysis just like a bicycle. But this is basically how it works for me. Fundamental - a very broad fundamental view of either societal trend or technological trend raise an alarm bell for you. Hey, this is interesting! This is interesting. Let's take it into the computer. Let's see how the moving stack up and everything else. Gross: Okay. That's an interesting view and I'll ask you a market question here at the end but before we get to that, we - in our books, in our materials, we occasionally quote you or cite some observations you've made in your studies. Dr. Elder: Thank you. Gross: And one reason for that is that we tend to think that your books cut through a lot of the fluff and useless information available to investors and get right into the core concepts. What really works as a trader, what doesn't. I've noticed personally coming into my trading room that you're a proponent of selling options versus not buying them. Can you elaborate on that? Why do you favor selling options as a strategy? Dr. Elder: You know, when I teach classes, occasionally, let me backtrack. When I teach classes, I often say to people: having met literally over ten thousand traders, investors - traders mostly - I have never met one person - not one - who built an account buying options. Now, all of us have some successful option trades or we buy something. I had a trade once when I - that was before - I bought a, I bought a 3 8 on Friday. It opened on Monday at 13. So all of us got those fantastic stories of success in buying an option. But in all those years, I have never met one individual - not one - who built up an account buying options. At the same time, I have several friends who make a good living year in and year out selling options. I know many successful option sellers. And not a single successful option buyer. I think the person who summarized it best for me was that years ago, this woman came for some classes with me. She was a floor trader at the American Exchange. She was an options specialist. But she was pretty adamant she wanted to get off the floor and learn something about computerized trade. That's how she came in. And she said to me, "Options are a hope business. You can buy hope or you can sell hope. I am a professional. I come to the floor in the morning and look to see what people are hoping for. And then I try that hope and sell it to them. Options are a hope business. If you're going to give me a little hope, you better sell hope, not buy them. Gross: That's probably the greatest observation of option selling I've ever heard. One of the analogies we use is options sellers operate kind of like an insurance company where you're selling collecting premium, premium, premium. Occasionally, you pay out on one. But if you do it like the insurance company does it, it should be a profitable venture in the long term. Dr. Elder: Right. Right. Just price it right. Price it right. I have a friend in Michigan, her name is Bea Buffelin. She is quite a character. She is a mathematician. She is a chess player. She is a psychologist with Ph.D. and she loves selling options. She said to me, "I feel like I am running a roulette on a cruise ship. And all these guys are coming in. They have gold chains and they are loud but they cannot afford a thousand shares of Microsoft. So they buy options from me. And they're having fun and drinking beer. But you know? Four times a year that wheel stops and I sweep off the money. Gross: Sure. So she's operating as kind of a cool business professional and they're doing it for entertainment is what it sounds like. Dr. Elder: They're having fun. They're having fun. Lots of it. Fun is expensive. Gross: Yeah. Dr. Elder: At the very beginning of my career as a trader, this old professional trader in New York said to me, "Successful trading should be a little bit boring. if you entertain, move right back. Something is wrong with this picture. " Gross: Exactly. I think the professionals I've met in this business as well, they approach it as a business. It's not a fun past time. It's a very business-like approach. And they're looking to play the odds. And it's one of the things that you talk about as well. Dr Elder, if you - as far as option-selling as a strategy goes, what would be the top 3 things you would look for if you were identifying an option to sell? Dr. Elder: Well, first of all, let me say right away, I am not an expert on options. I used to promise to myself, next year I am going into and provide options. But to me it's not a hugely complicated other area. I am super comfortable trading short and long stocks and fusions. And learning how to trade options is something I've been putting off year after year and so I certainly don't hold out myself as an expert in options for a moment. Except that I can say with utter confidence that the only way to make money with options is to sell them, not to buy them. Now, as far as selling options, so having said that, I would look for technical patterns. I would look for stocks that are very. And actually I would want to sell cold. I would look for stocks that have crashed and stop crashing to the very bottom. And that's where I would sell those. And then of course I could pull things like Delta because they would want to sell options whose likelihood of going into the money would be minimum. So that's about it. Gross: Okay. As far as getting into commodities - new investor, taking into his first steps into commodities, they want to get diversified form equities... Dr. Elder: I think the person who want to get into commodities has to show at least a couple of years of successful stock trading. If you're successful in stocks for two years, try commodities. Commodities are very, very fast. And it's not a good place to begin. I mean I love trading commodities. I have a position in a hell of a position in commodities going on right now. But it's not a beginner's game. You really have to have a bit of experience to get into. Gross: Okay, good. Alright, I'm going to ask you one question. I don't want to get into too much of a specific trades and things like that. But I would like to ask your opinion on the overall macro picture right now especially as it relates to commodities in general. We've been in some pretty steady downtrends in a lot of markets. Is that something you see continuing in 2016 or what's your take on that. Dr. Elder: Well, I think I want to buy the worst performing market and to short the best performing markets as a general attitude. And what I see in many commodities now is that it has been sold down to - well, in any case, I'm looking for bottoms and those things. Agriculturals, for example. We're supposed to be hit with one of the worst El Ninos in decades. That's not going to be too friendly to commodities so meaning that the growing areas are going to be hit. Shortages are likely to develop. Commodities - agricultural commodities are likely to go up. I'm a contrarian trader. Whenever I see sustained downtrend, my first inclination is to say, whoa, is there a bottom there? And that's of course we get into analysis comes in. Now, looking at more tropical commodities, looking at tropical commodities, we're just now looking at the track of causes. The deep bottom in 2014, stronger now and now still going on. And it still going low lows but will tiny little margins. So that to me is a sign of being completely exhausted. 'Coz it now becomes a question of timing when you will have a and buy. Essentially I am a contrarian trader. And I think as an options seller, you have to be a contrarian trader because you sell hope. Gross: Absolutely. Sure. We always talk about it's a process of not necessarily deciding where the market is not going to go but where it's not going to go. Dr. Elder: Right. Gross: And that's really the gist of the whole thing. Dr. Elder this has been some great information. We really appreciate you sharing your wisdom and knowledge with our listeners and readers. In addition to your books, you mentioned your website, where can traders and investors learn more about your work and what you have to offer. Dr. Elder: Well, I have two websites. One website which has all my books and I run webinars once a month. We just had one two nights ago. It's Elder.com. I got into the internet early enough when short means were available. So I have this Elder.com website. Visit. And then right on that website, you will find a link for Spike Trade, which is really where I live nowadays. That to me is a fantastic and interesting drawing which includes sharp smart traders. And I have this partner whom I have struck a great deal. Two of us are running the service. Essentially it's a community of traders. So that - Come to Elder.com and explore from there. Don't forget SpikeTrade.com. Gross: Excellent. Thank you Dr. Elder. It's been a great interview. We hope to get you back again sometime. Dr. Elder: Thank you very much. Pleasure talking to you. Gross: Likewise. I'm going to stop the recording now and I just want to let you know I do personally appreciate you coming on and really enjoyed talking with you and hopefully we can talk again at some point. Dr. Elder: Intelligent questions call for intelligent answers. Right? Gross: Exactly. Well they were very intelligent answers so I appreciate that. Dr. Elder: Thank you. Thank good care. Gross: Alright, you too. Thank Dr. Elder. Dr. Elder: Thank you, Bye bye. Gross: Bye.

Hi, this is Michael Gross of OptionSellers.com and welcome to the first installment of Option Seller radio. I’m here with James Cordier, head trader here at OptionSellers.com and we’re going to talk a little bit about the markets today and a little bit about option selling and some things that you may be able to look at and study to learn more about this strategy. James. James Cordier: I’m doing great. As always, we’re watching the news and watching certain market conditions fluctuate. And Michael as you know, I think as the year wraps up as we are doing now, we’re just about going into December, lots in the news, lots in commodities, and certainly opportunities that we like positioning for, for the coming year. Michael Gross: Good, good. Yeah I think a lot of the people listening out there probably, maybe you’ve read our newsletter, you’ve read our book, you’ve looked at our website; the purpose that we want for this radio show is to really tie a lot of those things together for you and maybe give you some additional avenues if you are looking to learn more about this or just keep posted on what’s going on in the commodities markets and see some examples of how you could be selling options on some of these markets. James, I know one of the big markets we’ve been watching lately is the crude oil market and you were on CNBC last month talking about a potential major low in the market and I know we featured it in our newsletter in November as well; what are your views on crude oil right now? James Cordier: The crude oil market is absolutely over supplied as everyone hears about and everyone’s talking about here in the United States we have nearly 100 million barrels over the five year average. We have OPEC trying to fight for market share; it’s going to rebound as far as what OPEC is wanting to do and willing to do, I think, in the next several weeks. Right now, here in the United States, we have real decay in energy financing, practical a third of the companies are basically going out of business as a lot of the infrastructure spending that took place during the boom years in the United States when oil was pushing $90.00 and $95.00 a barrel. A lot of that infrastructure spending is now in place and unfortunately, it was financed. It looked great on paper and now with oil trading in the mid to upper 40’s, it just doesn’t work right now and a lot of the funding that took place right now is leaving that industry; the Bakken especially some of the states North Dakota and such that looked like just a great investment is looking like a terrible investment right now. We think that in the coming weeks or months, certainly Michael, we are going to see US production fall off dramatically and certainly that was OPEC’s idea. They didn’t like seeing the United States go from five million barrels a day to ten million barrels a day, that’s the golden goose that, especially the Saudi Arabia’s of the World have been enjoying for so long. We see that a monumental shift coming. I don’t know if it’s this go around where oil is, you know, near $40.00 recently. Maybe it takes place winter when oil sinks again, but we’re certainly in the process of getting some of the new producers out of the market and at which point you’ll see OPEC then finally cut production and we could see quite a rebound in the next six to twelve months, I think. Michael Gross: Yeah that was, you had some great points in the newsletter as well. Even though prices have been so low and production’s been so high, demand has been increasing. It’s kind of a function of low prices carrying low prices where the lower price is spurring demand, maybe not so noticeable because supply has been so high. But if they do start cutting back that production, they will be dealing with increased demand. We have a good seasonal in crude oil right now too, for those of you who follow some of the seasonal charts we talk about; what’s behind this seasonal, James, as far as the often see weakness into December and then often see a strength in crude oil for the spring months? James Cordier: Michael, that’s a great question. You and I have been working together and watching the markets for over a decade and you and I joke often about setting your watch to the seasonality’s and the energy market. Each fall, we go into what’s called ‘shoulder season’ when driving season is far over and yet it’s not cold in the Northeast yet. This is typically when energy prices are at their weakest point each year and of course, now we’re in November going into December, oil prices have sunk as low as $40.00 recently, they touched the $39.00 handle. Basically this is the least demand season and this is when crude oil supplies usually stack up. A lot of refiners shut down for maintenance so they don’t need the oil and at the same time, the demand is at the least. This is probably one of our favorite position; the fundamentals this year are lining up extremely well with the seasonality. Buying oil, in other words, how we approach the market selling place, 30%, 40% below the price in December and selling puts that come due or expire June, July or August has always been low hanging fruit for us. It’s setting up extremely well this year, obviously a seasonal doesn’t make it so, but this year we are really excited about it. We started, you know, going long crude oil in the last week or two on some extreme weakness. We expect to see some weakness as supplies continue to build slightly in the next week or two. We consider this extremely low hanging fruit over the next couple of weeks. Michael as you know, come April, May, June shockingly gas prices start to increase and I think they will again in 2016. Michael Gross: Yeah I know we talk a lot about seasonals and energy markets have some of well, nothing’s guaranteed. Energy markets have some of the best seasonals of any commodity. It’s funny I was talking to one of our clients yesterday, up in Pennsylvania and he told me the firm he works for, they do some type of hedging on oil, and if he’s listening he can probably call in and correct me later if I’m wrong. Michael Gross: What he was telling me is the firm that he works for hedges the oil markets and I’m sure if he’s listening he could call in and correct me, if I got part of this wrong, but the jest of it is that they more or less do their hedges twice a year. They buy crude oil in December and they sell it in July and they it every year and he said that’s just how we do it, it works great just about every year, we cover our fuel costs. I said you wouldn’t think it would be that simple, would you? And he said, no but it’s been working pretty well. So it may not be quite that simple if you are a trader, but seasonals could certainly be a big factor to consider especially when trading in the energy markets. James Cordier: Michael, what’s interesting is we always talking about trading like a commercial and that’s exactly what we’re doing, you know, selling puts in December for the June / July timeframe. It’s really interesting that that’s exactly what your client, you know, in Pennsylvanian is doing is exactly what we do each year. You mentioned just a moment ago, you know, trading as most people know it with a seasonal factor involved can get a little tricky, because the seasonal low might be in November, the seasonal low might be in December and that, once again, is the beauty of selling options. With oil trading in the mid to upper 40’s, we’re selling the $30.00 and $32.00 puts for the summer timeframe, gives us a lot of variance to let the market bottom in November, December, January, it doesn’t matter. Michael Gross: Yeah and not to go too far into our talk on seasonals here, but just a good point to make for listeners out there that are new to commodities and looking at seasonality, one of the biggest mistakes James you know this as well, that traders make as they look at these charts and they see it makes the bottom in the middle of December and they say well, I got to buy crude oil on December 15th. You have got to remember those are just averages. One there is no guarantee it will bottom at all, but two if it does it could bottom in November, it could bottom in January and one of the reasons combining option selling with that is so powerful is that you don’t have to be perfect on your timing, as we know. So, maybe if you are a little early you can sell puts in November, you can sell puts all the way through January and still, even if you are not hitting the bottom, those can still be successful trades. James Cordier: Absolutely, just like taking your favorite investment and dollar cost averaging, you know, we do the exact same thing. We don’t know where the low is or the high is and that what we jokingly often say is why we sell options, basically the average investor who wants to take a stab with their hard-earned money and trade gold or oil or soybeans, it’s so darn difficult because the timing needs to be so precise and as you know we’ve taken that need to be precise completely out of the picture. We plan on, you know, looking at an investment that we are really excited about and we’ll take a 30-minute period to position ourselves into that market. We will never go all in in one day, we’ll look to, you know, buy or sell the market over a 30-day window and sometimes you only get half your position on but certainly hitting a single or a double is certainly right up our alley. We are never swinging for a homerun anyway and over a twelve-month period, often can win the game. Michael Gross: Excellent. We’re going to shift gears here a little bit. Everybody listening, however if you do want to real up more on the crude oil market or the seasonality in crude oil, you can certainly go to our blog. We had a feature piece on oil in our November newsletter, which is posted on the blog right now, so you can certainly take a look at that. Also James will be updating crude oil market in his bi-monthly market updates, so you look for those on the ‘video update’ section of our website. James, I know you had the pleasure of joining our first Webinar last week and talk a little bit about that? How do you think that went? James Cordier: I thought it went really well. It was the first time you know, that sort of feature broadcast that we’ve ever done. It was interesting how many mainstream investors are not familiar with options, as we always talk to when a new client finally speaks to me before we start investing, they were all introduced to selling options from their stockbroker originally, through the use of covered call options and I was thinking that was still a small niche in the market, but I’m starting to find that a lot of investors are starting to educate themselves. They are thinkers they are readers with the flux of the market recently, it just really seems that a lot of investors are going to take a little bit more control of their investment and learning about options. Whether they become an option seller with us or not, learning about selling options has just really become more mainstream than I even thought of and I think with both you and I doing the Webinar last week, it really opened my eyes to that fact and it’s quite exciting that investors now are not simply handing over a million dollars to their stockbroker and checking their account at the end of the year. It really seems as though most investors are thinkers and readers and they are taking more control of, you know, their nest egg and that was a really pleasant surprise. Michael Gross: Yeah, I was surprised too at the big response we got. Not only the attendees, but the questions people were engaged, and I think it’s, especially I’ve noticed talking on the phone with perspective clients recently, the way the stock market’s behaved, you know, since really the last ten years. You know, 2008 is when it started, but even recent volatility, what’s going on in the world, a lot of people are frustrated with government, I think people are starting to question the buy and hold strategy for preserving wealth and they are looking to take matters into their own hands and I think that’s one of the reasons options trading, in general, is becoming more popular. But, the Webinar for those of you that missed the Webinar, the title of it was Option Selling on Steroids, and James covered really for stock option sellers it was an introduction to commodity options and some of the benefits and advantages of upgrading the portfolio into commodities. I know James you talked about the increased leverage, the lower margins, bigger premiums. Fundamentals is a big part of what you talk about. James Cordier: Right. I think that the majority of the mainstream investors whether they are small investors or they are working with millions of dollars in capital, the main theme right now is to be diversified and a lot of investors have probably a larger percentage of their assets in the stock market than they probably want, at least that’s what I heard from the Webinar that we did the other day. The other aspect that’s, I think, causing some angst to a lot of investors is you get good economic news here in the United States and the market falls, with the idea that now the Federal Reserve is going to raise interest rates a quarter a point. That can get frustrating when the economy is doing good and you see the stock market fall two weeks later, you know, the economy gets a bad report on jobs or retail sales, then the stock market rallies. A lot of investors have a tough time wrapping their arms around that and I get it. And I think that’s way some investors are looking at commodities, which don’t trade that way. They trade purely on supply and demand. Michael Gross: Good. For anybody that missed the Webinar and wants to listen to it, it is on our website now. It’s at optionsellers.com/webinar, it’s called Option Selling on Steroids and if you’re interested in learning differences between stock option selling and commodity option selling, it’s a great place to start. James obviously we are heading into December right now, everybody is anxiously awaiting the Fed decision. A lot of nervous investors out there right now, as far as what we have coming up, I know we did a big feature piece in the December newsletter if you are listening right now, if you received that we plunge into this in depth; how the Fed decision could affect equities and how it may or may not affect commodities. James, what’s your take on what’s coming up with the Fed here? How it’s going to affect the markets? And how it might affect commodities? James Cordier: Well Michael as you know, over the last 12 months, 18 months guessing what the Fed was going to do has been a fool’s game because just when you think they’re ready for lift off, you get three bad economic reports in a row and then there’s no way they are going to raise and then just when you think, well they are going to be at zero forever, then you got some great economic information coming out. Normalizing interest rates and I realize going from zero to a quarter, you know, I remember back in the day, interest rates at 6, 10 and 8% so it boggles my mind how it’s such a monumental move to go from zero to a quarter. Personal opinion first, I really hope that they do just get off of zero and just normalize rates so that asset flows can start normalizing themselves as well. Even if interest rates bump up a tiny bit, there will be some investor ability to go into interest-bearing returns, and at that point, when that finally happens investors who want to go into yet certainly a very small interest rate return, at least they are getting something. If they want to be in the stock market, they can go into that, they now have an alternative to go into commodities, they have an alternative. Over the last four or five years, you either held your nose and bought stocks or you got zero and that’s just wrong, that’s just wrong. So, you know, obviously cranking interest rates down to zero nearly a decade ago; do we need to do that? I guess we did, certainly economic conditions and what happened with the housing bubble burst. Probably it was a great idea but those were emergency moves and we don’t have that situation going on right now. Is the GDP running along at 4%? No it’s not. It’s 2 or 2 ½%, is that a robust economy? Not really, but you have low inflation, you have unemployment at 5%, you have GDP doing just fine, that’s no emergency. So let’s get off zero, let’s normalize rates, and then let the cards, you know, fall where they may. Interestingly enough over the last week or two, obviously we don’t trade the stock market, we don’t invest in stocks, but I do follow it like everyone else does and it seems as though the stock market is ready for it and I think that’s certainly what the Federal Reserve is watching so closely. I don’t want to get too political here, however to think that the Federal Reserve is not worried about what an interest rate rise would do to the stock market is kind of silly. They are interested and I think they kind of got the green light recently because the more they talk about raising rates, albeit just a quarter, the stock market has done just fine with that. So that tells me that if the Federal Reserve does want to do that, they can go in December, I hope they do. Michael Gross: Those are some great points James, and one of the things we talked about in the newsletter as well is a lot of investors are standing around waiting, thinking what to do with their equity positions right now, because if the Fed goes one way this could happen, if doesn’t this could happen and those roles actually might be reversed this time and we have a light-hearted look and says is the Fed’s show up as Santa Claus or does he show up as Crampus this Christmas. James Cordier: We’ve seen both. Michael Gross: Yeah, and a lot of the investors in commodities will wonder, how does this affect commodities prices and a good point you made is well, you know, it may not have a direct effect at all. Commodities are trading on their own fundamentals and yes, a lot of commodities are in a bare market right now, but that has everything to do with fundamentals, more importantly individual fundamentals; oil is low right now for a different reason than grain is low right now. You and I were talking earlier about an article in the Wall Street Journal today about copper fundamentals and there’s individual fundamentals that seem to be playing a much bigger role in low prices of a lot of commodities as opposed to anything going on in Washington. What do you think about that? James Cordier: I think that’s really interesting, certainly the abilities that we have to be in one portfolio slightly long in commodities and, somewhat short in other commodities. As you know, the ability for us to long in commodity and short in commodity in the same portfolio gives us the ability to diversify like that. Quite often when you’re simply in the stock market, either the long or short, actually it’s always long and the ability to diversify in different commodities based on fundamentals is truly key. Boy, the Wall Street Journal just recently, the production in copper is just growing in leaps and bounds. I know a lot of investors are thinking well some of these commodities are probably nearing their low cycle year. Copper certainly had the enormous influx of investment during the China boom when they were erecting 30 cities the size of New York and what did the largest copper mining companies do in the world? They said, well if China is going to be an insatiable demand for copper and nickel and zinc forever and ever, seven and eight years ago when all this demand from China was developing, that’s when all this infrastructure spending went into copper mining. The funny thing about it is, and if anyone does read this article that came out recently, for us today if you listen to this radio show in the coming days you can go back to it, but it takes seven years to build a copper mine. So the fundamentals have changed that dramatically in the last seven years, so we are going to have copper at extremely depressed prices and levels in the coming year or two, simply based on the fact that copper production used to cost $1.75 or $2.00 a pound and there’s a lot of instances where they are going to be producing copper next year for 60 cents a pound. Other commodities are below the cost of production now, so that give us the ability to, you know, create a portfolio that is long, a commodity that has strong fundamentals, and a shorter commodity that has various fundamentals, that is truly part of the diversification that having an option selling account gives you the luxury of doing that. Michael Gross: All right. We covered the Fed decision pretty heavily in the December newsletter, or its possible effects. We outlined some potential trades, our Podcast or radio show here really one of the purposes of it is to serve as kind of a companion to the newsletter and a lot of the things we talk about. One thing I did want to point out to readers of the newsletter is a new feature we began incorporating called, Our Guest Expert series, where James and I have opened up our newsletter and a lot of our content is some of our colleagues in the industry, we try and get people that are well known, well respected, can really give you some great insights into different aspects of option trading or even investing. A lot of you saw Jack Walker from I Volatility, December of course, we had Lawrence McMillion. A treat we have in January is Dr. Alexander Elder who is the author of a couple great books on trading. Anybody that has ever thought about being a serious trader whether you are trading stocks, commodities, or options, I would recommend both of his books, Trading for a Living and Come into my Trading Room. But James, I know, we had talked about this Dr. Elder is a big fan of selling options and when I interviewed him for the newsletter, he made some great points. This will be coming up in the January newsletter so you don't want to miss this interview. Dr. Elder, in interviewing him, I think he is one of the smartest people I’ve ever met, present company excluded. But also he had some great points on option selling and I just wanted to read a couple observations he made in one of his books, which is Come into my Trading Room, in it he says, this is in one of the initial chapters, he says, “The insider is almost exclusively right options, professionals use their heads, while amateurs are driven by greed and fear. Options take full advantage of those feelings.” And then he goes on to say, “I’ve never seen anyone build equity buying options. The odds in this game are so back that after a few trades they are sure to kick in and destroy a buyer. At the same time, options have a high entertainment value. They provide a cheap ticket to the game and an inexpressive dream just like a lottery ticket.” I don’t think there’s any better argument there for taking the opposite side of that. But if you are interested in hearing the differences of buying and selling options from somebody who has worked with traders around the world, there’s some great insights in this interview that you want to catch in the upcoming newsletter. James, I want to finish up our radio show today by talking about some of the upcoming markets we have to look at here; there’s a lot going on. We have tensions building in the Middle East a little bit as we speak today, obviously we have the Fed decision coming up. The great thing about commodities is that they continue marching to their own beat and we’ve got some great seasonals to look at. December is a great month for that. We already talked about crude oil, but natural gas also has a very impressive seasonal. What do you see with that or what are your views on natural gas right now? James Cordier: Natural gas certainly does have a great seasonal tenancy. Most investors will go into natural gas as we approach November and December waiting for cold air to inevitably reach Boston, New York, Philadelphia, you know the major hubs in the Northeast. What seems to happen and however is production of natural gas basically is used for winter heating. A lot of investors think it’s for air conditioning and cooling in the summer, that’s approximately 1/10th of its use. The majority of it is for heating in the Northeast, especially heating oil is one of the products used for warming homes and businesses in the winter, but natural gas is certainly a big play for most commodity watchers. Quite often what happens is that the cold air does reach the Northeast for the first time, whether it be in December or January, the market is so oversupplied with natural gas, the industry is just waiting for any type of blip in demand from that cold air. What we like doing is selling calls about the market when it finally does reach cold levels, investors rush in to buy natural gas, the supplies of natural gas between December and March are absolutely gigantic and anyone following the industry right now knows that natural gas is just at levels as far as supply is concerned that makes reaching levels of $3.00 or $4.00 or $5.00 practically impossible. Supplies are gigantic right now and that is one of our favorite plays when the market does rally in December, selling calls above the market. If it happens this year great, if it happens next year we’ll be waiting for it then. Michael Gross: Yeah and another great point, I know you made to me earlier, is that it’s going to get cold this winter and it’s going to get cold this winter regardless of what the Fed does, regardless of what happens in Turkey or Russia or Syria and people are still going to need natural gas and they are still going to eat their Corn Flakes and they’re still going to want to drink their coffee in the morning and speaking of coffee, that’s the last market I wanted to touch on today. I know that’s one of your favorite markets, a market you have a particular specialty in; what do you see happening in coffee right now as we head into December? James Cordier: Well the coffee market, which has been trading around $1.25 / $1.35 abound seemingly for the last several months, the coffee production around the world has certainly grown. Vietnam who used to not produce any coffee at all is now the second largest producer. Columbia was always considered the main supplier of coffee and now it’s approximately 1/5th of what Brazil produces each year. We were hoping for and still expecting some rally as most investors feel that the largest consumption time, especially in the Western Hemisphere is during the colder months, we are expecting a rally in coffee maybe up to $1.35 / $1.40. Brazil this coming year is expected to produce 60 million bags of coffee, which would be an all-time record. At the same time Vietnam is going to produce a record supply figure. A lot of investors and coffee companies will do some hedging, buy some coffee as we get into the high demand season. As coffee does rally 10 or 15 cents this winter, December, January, coffee calls at the $3.00 level and will probably be in play and with the supplies from producing nations probably hitting all-time records this coming year, we really like the idea that coffee is not going to go from $1.40 to $3.00 and that is certainly of our favorite positions that we like to take advantage of when the opportunity arises. Michael Gross: Excellent and I’m sure you’ll be updating coffee, natural gas markets in your video updates, which everybody can watch at their convenience on the website. A lot of people have asked as well, how do I get your newsletter? There is no place on our site you can actually request our newsletter directly, but if you buy the book or buy a book on our website, The Complete Guide to Option Selling, you actually get subscribed to the newsletter, so you are kind of opting into it. But you can also get it by requesting anything on our website; you can request one of our free reports or booklets, you automatically opt in to getting the newsletter. So you can certainly have access to that at any time. I would like to close by wishing everybody happy holidays, Merry Christmas, happy Hanukkah. One announcement we do want to make for this month, is our consultation dates for new account consultations, prospective clients, if you are interested in talking about an account, we only have limited dates in December. The last date for consultation call scheduling is December 16th. So if you have been thinking about an account or you want to ask questions about an account, thinking about opening in January, the consultation dates for that go up to December 16th. Just call in and speak with Rosemary about what we have left. The number, of course, is 800-346-1949, or if you are listening from outside the United States, you can call us at 813-472-5760. James, anything else you would like to add before we sign off here? James Cordier: Michael, I really like the topics we discussed today and some of the opportunities that might be coming up. I am certainly going to enjoy doing this on a timely basis, looking forward to it. Michael Gross: Great, likewise and this is our first one, so I hope everybody’s been patient with us, we’ll get better, I promise and we are going to start doing these monthly. Depending on how we go, we might do them more often, we’ll see what our listeners like and what they’d like to hear. But thanks for listening everybody. Happy Holidays and we’ll talk to you next month. This is Michael Gross and James Cordier for OptionSellers.com.

Longterm investing is all well and good until the market crashes. You can’t make long term decisions in a crisis. This week we talk with Dr. Alexander Elder (author; Trading For A Living, Come Into My Trading Room) about the contrast between trading and long term investment. If the crash is coming, you need to know how to make moves fast, not sit on your hands. Learn more about your ad choices. Visit megaphone.fm/adchoices

My guest today is Dr. Alexander Elder, a trader, educator and author. Dr. Elder's unique and inspiring story starts with his dissatisfaction with the system in his home country of Estonia. At 23, while working as a ship's doctor, he jumped a Soviet Union ship in Africa and received political asylum in the United States; he also ended up on the KGB's wanted list. Dr. Elder worked as a psychiatrist in New York City and taught at Columbia University. The topic is his book Trading for a Living: Psychology, Trading Tactics, Money Management. In this episode of Trend Following Radio we discuss: Experience as a psychiatrist provided him with a unique insight into trading Psychology of trading How a high degree of education can sometimes be a hindrance The most dangerous personality traits to have as a trader The stages of trader development The importance of money management The importance of keeping records and diaries of your trades The notion of exiting long positions and shorting weakness The similarities and differences between traders in different geographic locations How financial markets can be like manic depressive patients Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

Michael Covel talks to trader, educator and author Dr. Alexander Elder. Besides his numerous other books, just about everybody involved in the trading space in the past 15+ years has Dr. Elder's international best-seller "Trading For A Living" on their shelves. Dr. Elder's unique and inspiring story starts with his dissatisfaction with the communist system in his home country of Estonia. At 23, while working as a ship's doctor, he jumped a Soviet Union ship in Africa and received political asylum in the United States; he also ended up on the KGB's wanted list. Dr. Elder worked as a psychiatrist in New York City and taught at Columbia University, and he shares with Covel how his experience as a psychiatrist provided him with a unique insight into trading. Dr. Elder's work has established him as one of today's leading experts on trading psychology and in the use of technical analysis with money management. Elder and Covel talk about the psychology of trading; how a high degree of education can sometimes be a hindrance; the most dangerous personality traits to have as a trader; the stages of trader development; the importance of money management; the importance of keeping records and diaries of your trades; the notion of exiting long positins and shorting weakness; the similarities and differences between traders in different geographic locations; and how financial markets can be like manic depressive patients. Special Offer: receive free DVD delivered to your home or office: www.trendfollowing.com/win.