Come Into My Trading Room by Dr. Alexander Elder PDF Download
This book came into my trading room and was published back in 2002 and holds dense information about trading and management. Unlike other trading guides, this one contains too-to-point information, without fluff and repetitions and that’s the very reason it is so thin as compared to the other guides. You can download Come into my trading room pdf on this page.
| Book title | Come Into My Trading Room |
| Author | Alexander Elder |
| No. Of pages | 320 pages |
| PDF Size | 3.4 MB |
| Language | English |
| Category | Trading |
Book Summary
The author of this book, Dr. Alexander Elder was formerly a psychologist who ran off from the Russian region to the US. Although he joined the field of trading & finances to support his living but ended up finding it super interesting and entertaining.
Using his knowledge about the human mind and how it reacts in different scenarios, he soon became a noted trading instructor and then, put down his experiences in books. Some important points he mentioned in this trading guide about becoming a successful trader are as follows;
Complicated ways don’t always lead you to success
Dr. Alexander Elder shares the story of his friend who partook in world war 2 and drove a tank. Elder states that his friend managed to survive under the most unfeasible conditions and won the war with the help of a few basic tools.
Using this story, Elder tries to explain that you don’t always need to plunge into the shallow waters of trading when you are not ready for it. Even if you have learned how complicated trading & technical analysis works, try to resolve a situation in simpler ways first. Sometimes, traders make the whole situation way more difficult just by being over-smart or over-complicating everything so don’t make this mistake.
Minorities can earn profit too
Many newcomers believe that it’s always the majority of big traders who earn a considerable amount of profits whereas the new-coming minorities always struggle to turn the deal into something slightly fruitful. However, Dr. Elder doesn’t approve of this point of view. Instead, he believes that the world of trading works as a pump that sucks money from the pockets of the majority (the poorly informed ones) and throws it into the pocket of the well-informed minority.
So as you see, even if you don’t possess an impressive amount of assets, it doesn’t mean that you would never! Although the process of becoming a prominent trader from scratch will take your efforts (both physical and mental), time, and money, it is still worth it! The road to success is full of bumps and you have to prepare yourself accordingly. You might even have to be your advisor, manager, and analyst during the initial days!
Minorities can earn profit too
The three M’s which make up a successful trader are mind, management, and money. For investing in better deals, you need money but using your mind, you need to identify only the best deal and manage your funds accordingly. Dr. Elder says that you don’t need to dive into too difficult technical analysis but for fund management, don’t hesitate to go the extra mile.
According to Elder’s suggestion, a trader should never risk more than 6% of his total funds per month. Similarly, invest in a deal if it comes with only a 2% risk factor. And In case you hit your monthly loss limit, stop trading completely until the new month so you would have time to recover your finances and emotions.