Entries and Exits: Visits to Sixteen Trading Rooms

We all have different systems for deciding the merit of a stock. The author likes MACD, as I do , even if we tend to differ in when it is the "right" time to take a position. This book shows systems that are way beyond anything I have ever seen, and generally they work for the traders in the book. It's worth reading simply to see how other , more successful traders trade.

It is rare to find candid insights into actual trading methods used by real traders, which makes this book worthwhile reading. Because experiences are drawn from 16 different traders, the results are necessarilly diverse. Most books simply overpromote a single trading style, written often by an author who does not trade. Also, Elder makes it an interesting book by giving background to the individuals' trading experiences, which makes the read less dull. I also think it works better because on the whole these guys trade on their own account, which menas they are closer to the methods of the private investor.I do have a couple of caveats though: Elder himself relies heavily on one or two techniques - the Impulse system in particular, which is basically MACD with the added thrill of a confirmatory moving average. Not only is this ill-judged from a TA point of view, but it also doesn't give the guys he's interviewed enough credit for coming up with their own systems. Also, despite some remarkably candid insights, one or two of the traders are more guarded.Even if it is heavily biased toward MACD (Appel, himself the author of the technique, is one of the sixteen traders), it is still worth more than a whole bunch of those 'How You Can Get Rich Using Method X' type books.

If you are familiar with Elder's books, you'd know that he is big on the use of indicators. He even has his own indicator--the Elder Force Index (EFI). So there is no surprise that most entry and exit signals discussed in this book are indicator based.If you are an indicator oriented trader, then you might find value in this book. If you're like me and more oriented towards price action trading, you will find no value at all in this book.

This book focusses on day trading, and sometimes about intraday trading. I never read a trading book before with so much detailed information about entries and exits of a trade, and showing the good, the bad and the ugly. Elder writes in a friendly and personal way in understandable language, and adds a personal note here and there. Which makes this book a pleasure to read.I think every self-respecting trader should read this book. But maybe you should read Elder's book "The New Trading For A Living First", since Elder sometimes refers to explanations given in that book.

Book is in excellent condition, fast delivery, highly recommend this seller.