Trading for survival. Alexander Elder and his books - How to play and win on the stock exchange - Trading with Dr. Elder - Basics of stock trading

you may be a free man. You can live and work anywhere in the world. You can free yourself from routine and not have to answer to anyone.

Such is the life of a successful player.

Many strive for this, but few achieve the goal. A novice player looks at a screen with stock market data and sees millions of dollars flashing in front of him. He enters the game with the hope of profit and... suffers losses. He enters into it again and... loses even more. Players lose because the game itself is quite difficult, but also because of ignorance or lack of discipline. If any of the above applies to your situation, then you are the one for whom I wrote this book.

How I started playing on the stock exchange

In the summer of 1976, I had to drive from New York to California. In the trunk of my old Dodge I stuffed a few books on psychiatry (I was a first-year psychiatrist intern at the time), a few novels, and a paperback edition of Angel's How to Buy Stocks. I had absolutely no idea that the tattered paperback book I had borrowed from my lawyer friend would one day completely change the course of my life. By the way, my friend had an absolutely opposite sense of money: all the investments he dealt with immediately went to waste. But that's a completely different story.

I read Angel's book at campsites all over America, and finished it on the Pacific Coast in La Yolle. I knew nothing about the stock exchange, but the idea of ​​making money “with my head” captivated me.

I grew up in the Soviet Union at a time when it was, in the words of a former US President, an “evil empire.” I hated the Soviet system and tried to escape, but emigration was prohibited. I entered college at 16, graduated from medical school at 22, completed an internship and became a doctor on a ship. Now I had a chance to break free! I escaped from a Soviet ship in Abidjan, Ivory Coast.

I ran toward the American embassy through the dirty, dusty streets of an African port city, pursued by my former teammates. The bureaucrats at the embassy made a mistake and almost handed me over to the Soviets. But I desperately resisted, and they put me in a “safe house” and then put me on a plane to New York. In February 1974, I landed at Kennedy Airport, arriving from Africa wearing summer clothes and $25 in my pocket. I spoke little English and didn't know a soul in this country.

I had no idea what stocks, bonds, options, futures were, and sometimes I was even confused when I saw American dollars in my wallet. In my former homeland, for a few dollars you could easily buy yourself three years in Siberia.

Reading the book “How to Buy Stocks” opened up a whole new world for me. new world. When I returned to New York, I bought my first stock, which was KinderCare. Since then, I have been selflessly studying the market, buying and selling stocks, options and, especially lately, futures.

My professional career developed in parallel. I completed a psychiatry fellowship at a major university hospital, studied at the New York Psychiatric Institute, and worked as a psychiatric columnist for the largest psychiatric newspaper in the United States. In those days I was engrossed in the game and went into my psychiatrist's office, across the street from Carnegie Hall, only a few times a week in the evenings when the trading had stopped. I liked doing psychiatry, but I spent most of my time in the stock market.

Learning to play the stock market was a long process with its inspiring ups and painful downs. Moving forward, or, if you prefer, wandering in circles, I hit the wall with my head several times and wiped out my stock exchange account. Each time I would go back to work at the hospital, raise funds, read, think, do more tests, and start the game again.

Do you really want success?

For 17 years now I have had a friend who has an overweight wife. She dresses well and has been on a diet for as long as I've known her. Oka says she wants to lose weight and doesn't eat pies and potatoes if people can see her, but in the kitchen I often saw her attacking these foods with a large fork in her hands. She says she wants to be thin, but she remains as plump today as the day I first met her. Why?

The immediate pleasure of eating means more to her than the future pleasure of improved health and reduced weight. My friend's wife reminds me of many stock market players who say that they strive for success, but they themselves continue to make transactions obeying a momentary impulse, seeking short-term pleasure from the excitement of participating in the game on the stock exchange.

People deceive themselves and play games with themselves. Lying to others is bad enough, but if you lie to yourself, it is hopeless. The stores are full good books about diets, and there are a lot of obese people around.

This book will teach you how to analyze the market and how to fight your own mind. I can provide you with knowledge. And only you can add desire to them.

1. Psychology is key

You can base your actions on fundamental or technical analysis. You can make trades based on your hunches about economic or political trends, use “insider information,” or simply hope for the best.

Remember how you felt the last time you applied? Were you excited and eager to get ahead, or were you afraid of possible losses? Did you hesitate before picking up the phone? When you made the deal, did you feel elevated or humbled? The feelings of thousands of players form a huge psychological tide that moves the market.

Emotional surfing

Most players spend most of their time searching for a good game. As soon as they enter the market, they lose control: they either groan in pain or smile in bliss. They ride an emotional surfboard and miss the element necessary to win - managing their emotions. Their inability to manage themselves leads to poor management of the money in their accounts.

If your thinking is not aligned with the market, or if you ignore changes in the mass psychology of the crowd, then you have no chance of winning in the stock game. All professionals who win understand the enormous importance of psychology in the stock game. All amateurs who lose ignore her.

Friends and clients who know that I am a psychiatrist often ask if this helps me as a player. A good psychiatrist and a good gambler have one thing in common. Both focus on reality, on seeing the world as it is. To get by healthy life, you must live with your eyes open. To be a good player, you must play with your eyes open, see actual trends and turns, and not waste time and energy on unnecessary regrets and daydreams.

Even as a child, playing Robinson at the pioneer camp, our counselors asked the question: what would you take with you to a desert island if you could choose? You could only choose 5 things. Simple, not like: a set of tools, a refrigerator with food, or a backpack with things. There was a condition: these things must be carried on oneself. Does not include clothing. Just 5 things that you need most.
Many years have passed since then, but I never stop thinking about this, and this is the conclusion I come to for myself: the more you can take, the more difficult it is to make a choice and give up something good in favor of what you need.
I really want to hear your opinions on this issue.
My choice so far is:
1. Knife. This is a universal tool. I don't need a multitool or a cleaver, just a good quality knife made of normal steel. Having it, you can already change the world for yourself.

2. Flint. I used to think it was matches. But they will run out or get wet. Although you can seal them. But again, this is time, resources, distraction from other matters. Flint is unpretentious. It is not afraid of moisture and wind, and is simple and trouble-free to use. It will last a long time.

3. Bowler. This is a container for cooking and for collecting berries, mushrooms, storing and carrying them. It can be rubbed from the inside to a shine with sand and used as a mirror. You can sharpen it on one side on stones and use it to dig in the ground. Then fill it with this earth and fight off unexpected guests like a mace. In the swamp, you can light a fire in it and use it as a barbecue, and when the body stops burning, put it under your clothes and bask in its warmth, and in the morning light it again and move the coals. You can even put it on your head for protection, like a hard hat or helmet. You can... Much is possible, improvise


4. Rope. The scope of application is very wide. Probably not worth writing.

5. Raincoat tent (piece of material). This is both clothing and shelter; this is a bag, a bale for carrying, and a drag; this is both a hammock and a “stompbox” for fish. You can make a sleeping bag out of it or just cover yourself with it. You can collect and store water in it, use it as a sail, fire heat reflector, etc. etc.


I have nothing more to add.
What about you?

I was rummaging around the Internet and found these trading rules.... I’m sure everyone will emphasize something useful for themselves.

1. Plan your trade. Trade your plans.

1. Record your results.

1. Stay positive no matter your losses.

1. Don't bring it home from work.

1. Constantly level up your goals.

1. Buy bad news and sell good news.

1. Don't be afraid to buy high and sell low.

1. Always have a well-planned time to study the market.

1. Isolate yourself from the opinions of others.

1. Always be calm, persistent and consistent, act rationally.

1. Limit your losses - use stops!

1. Never cancel a stop after you have placed it.

1. Never enter the market because you are tired of being out of the market. Being out of position is also a position.

1. Don't enter and exit the market too often.

1. Traders learn from losses - not from profits. Study each loss to improve your knowledge of the market.

1. The most difficult task in trading is not prediction, but self-control. Successful trading is difficult and often accompanied by negative emotions. The most important element of successful trading is you.

1. Always discipline yourself by following predetermined rules.

1. Remember that a month can destroy what you have built in three months of a bull market.

1. Don't let big profits turn into big losses - set trading stops at 20%.

1. You must have a plan, you must know your plan - and you must follow it.

1. Expect losses and take them with grace. Those who are depressed by losses will definitely miss the next opportunity, which is likely to be profitable.

1. Divide yours in half and never risk more than 50% of your profit by acting against the market.

1. The key to successful trading- studying oneself.

1. The difference between those who gain in the market and those who lose there is not so much in natural abilities as in the ability to study their mistakes in a disciplined manner.

1. Take losses as a step towards victory.

1. Have you accepted the loss? Forget about it quickly. Did you make a profit? Forget about him even faster. Don't let selfishness and greed stop you from thinking clearly and working hard.

1. One of the most important secrets of traders is to balance their desires with the desires of the market. The market is truth because it reflects all the forces fighting in it.

1. It is much easier to enter a trade than to exit it.

1. If the market doesn't do it. What do you expect from him - get out of the market.

1. Never add to a losing position. A losing position means you are wrong.

1. Don't try to predetermine your profits.

1. The key to wealth in trading is simplicity. Avoid methods you don't understand.

1. Don't be overly curious about what's moving the market.

1. Beware of opening too large positions, which can affect your emotions. Don't be too aggressive in the market. Treat it gently, let your profits grow gradually, not explosively.

1. Don't try to identify peaks and peaks.

1. You have to believe in yourself and your ability to use sound judgment if you want to win this game.

1. In a thin market, you should not try to guess in which direction the next big movement will be - up or down.

1. In the world of money, no one knows what will happen in the future. Nobody! Therefore, successful traders do not try to place their positions based on what is going to happen, but react to what has already happened.

1. If the ship is sinking, don't hesitate - jump off!

40. Lose your opportunities - but not . With the rare exception of unusual conditions, get into the habit of using a stop profit. Don't beat yourself up if the price continues to rise without you. It’s better to remember those cases when timely profit taking prevented losses.

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Once upon a time I wrote a humorous article about how to survive a zombie apocalypse. Judging by the great many serious comments, not everyone understood that this was more of a joke than a guide to action. But thanks to the abundance of advice I received, I had a reason to rewrite it. However, I still do not recommend reading such texts to people without a sense of humor at all :)

Hello, my little or not-so-fan of the post-apocalyptic genre. Today I will tell you about the things that every person who is accustomed to being prepared for any twists of fate should have. We will talk about items that are needed in the event of a nuclear war, a flood, an epidemic of a virus unknown to science, an earthquake of over 9000 points, a volcanic eruption, a plane crash, a zombie apocalypse, an alien invasion or a Justin Bieber concert in your city. Well, or if you just got lost in the forest, or suddenly found yourself far from civilization.

So, if you are lucky enough to survive, retain your sight and limbs in any global catastrophe, consider yourself lucky. But now humanity (and, therefore, you) do not have electricity, running water, the Internet and other benefits of civilization - in best case scenario. At worst, all the food in nearby stores was devoured by zombies, and to all of the above was added a complete lack of provisions.

You already have a special set of things in the pantry of your hut, in case of such troubles? Well done, you don't have to read any further. And if you haven’t yet acquired a “universal kit for long-term survival in any conditions,” then this post is especially for you. What should be in this set?

The first and main condition is that the entire set must fit into one backpack. In fact, it is stored in it. Otherwise, you risk not having time to save your worthless carcass, wasting time collecting your luggage. Those. if something happens, you grab such a backpack and go to the nearest safe zone (bunker, high mountain, armored storage - depending on what you need to escape from).

The second condition is that the set must be universal, and not include items that help you survive only in one type of fucked-up situation. For example, we do not need a gas mask in this set, because after a tsunami or earthquake it is useless.
Survival stores sell ready-made survival kits. And two-thirds of the contents of all such sets are useless trash, so we’ll collect our own.

Let's start with the backpack.

1) Backpack

The backpack should be durable, not very large, but not small either. It is unknown how long you will have to carry all your junk, how often you will be able to take rests, etc. Therefore, you need a medium-sized backpack (not a small 30-liter one, but not a giant 100-liter one), with a good suspension system. A special tourist backpack of 40-50 liters is suitable. Something like this, maybe a little less:

After some time you will want to eat. It’s not a fact that you will be able to get food on the first post-apocalyptic day, so you need a supply of food for 1-2 days. Since grandma's favorite pies in your backpack will go rotten without waiting for the apocalypse, we exclude them, and any perishable analogue. Therefore, canned food was needed. And as you know, there is no better canned food for a “survivalist” than...

2) Sublimates

Sublimate, also known as a freeze-dried product, is a product preserved by the sublimation method (preservation here means any processing of products for the purpose of long-term storage).
Sublimation technology includes two main stages: freezing and drying. During vacuum freeze drying, moisture is removed from the product by evaporating ice. But ready-made, “store-bought” sublimates are too expensive, so you can supplement or replace them with other products that will be light in weight, will not spoil and do not require long cooking (dried fruits, soy meat, etc.). We take it by eye for a few days. You, like a true warrior and hunter, having assessed the situation and looked around, will be able to get yourself provisions? Well, at least spoil it? No? Well, then you’ll die anyway, and you won’t have to read any further.

It is not very convenient to walk on soil that is wet or littered with stones and fragments of broken windows in slippers, patent leather shoes, or stiletto heels. Therefore, we will need something super convenient, reliable and versatile. And there is nothing more reliable and versatile than...

3) Trekking boots

They are used by tourists (not those tourists like Egypt, the beach, “Taaagiiil”, but those like the mountains, taiga, backpack, on foot) as the main type of hiking shoes. They secure the ankle well and are thick enough to not be afraid of pins sticking out of the ground, broken glass and falling stones. In general - a must have. The cost of a pair of such boots at the time of writing is from 6,000 rubles and more.

You're not going to face the post-apocalypse in a T-shirt and shorts, are you? It's inconvenient to say the least. Therefore, you also need to think about clothes.

4) Clothes

Different for different climates. It’s very unlucky if the Big Fuck happened in places with a harsh climate - you’ll have to keep another set of winter clothes next to your backpack. But because at the beginning we agreed that the set would be “universal”; I will only describe the standard set “autumn-spring-summer-light winter somewhere near Moscow”:

• Spare linen. Briefs, socks, a couple of sets.
• Thermal underwear - long johns and a T-shirt, synthetic - more for moisture management than for warmth;
• Fleece layer - pants and jacket. Warms and at the same time breathes.
• The top layer is a thick, fairly warm jacket with long sleeves and a hood (ideally a membrane one, made of GoreTex), thick pants (the knees and buttocks can be sealed by making patches of thick fabric in these places).

Everyone knows that the main companion of a “survivalist” is a knife. This will be the next item in our set.

5) Knife
Widespread so-called survival knives - they have hollow handles into which you can stuff matches, cords and other useful little things. But it will not suit us, because it is designed for one-time use if you find yourself in the forest or mountains or somewhere else, for no more than a week. And we have to use this knife to chop enemies and do a lot of interesting things over the course of, perhaps, a very long time. Therefore, you need to approach the choice of a knife more than responsibly.

The first thing you have to decide on is a fixed, folding or multitool (Swiss). Here you need to think hard, because... Most of these knives have both advantages and disadvantages. Fix, or a knife with a fixed blade, is the most reliable of all options, because... has no mechanical joints. But at the same time, it cannot be put into your pocket; you will have to wear it on your belt in a special case, or in a backpack. If worn on a belt, it will attract the attention of strangers (we agreed that our set should be universal, and if in a zombie apocalypse a blade on a belt does not bother anyone, then in the case when the streets are flooded with the military or police, it will be unnecessary), and It is not very convenient to take it out of the backpack, because... a knife is a tool that is needed often. Folding - you can put it in your pocket, it will always be at hand, but not noticeable. Slightly less reliable due to the mechanical articulation of the blade and handle, but if you choose an expensive and high-quality one, the difference in reliability will be insignificant. A multitool or Swiss knife is a folding tool + a set of tools. Pros: multifunctional, not big. Cons: usually not very convenient, and the knife blade is small. As a result, you should choose a good folding knife with a “liner lock” that secures the blade.
One of the main parameters of a knife is the grade of steel from which the blade is made. Stainless steel is not suitable for us - it is too soft. You need to choose high-quality carbon steel. The simplest and cheapest: 440C, followed by 8cr12MoV, followed by Japanese Aus8 steel, everything that is more expensive has even better properties. I would not recommend taking a knife made of steel worse than Aus8.

The blade should be long enough, but not too long (7-11 cm). The blade thickness is at least 3 mm. Remember - in our case, a knife is primarily a tool, not a weapon. As a result, something like this knife will do:

Well, the seller will tell you the grade of steel. The cost of such a knife (at the time of writing) is from 5,000 rubles to infinity.

Will we light fires? Of course we will - what would a zombie apocalypse be without a fire. How to prepare firewood? And if you can still survive the loss of a knife, then if you lose the next item you will be very upset...

6) Ax

A small, long-handled, reliable travel axe. The most popular brands today are Fiskars, which are quite suitable:

You will need a lot of water - you won’t be able to stock up, so you need to have some means of cleaning it (although it’s worth throwing one bottle in your backpack).

7) Water purification tablets
Sold in tourist stores and in special stores for “survivalists”. I threw such a tablet into a can of swamp water - and after a while you can drink it. Brands: Aquatab, Aquabreeze, Portable Aqua, etc.

How do we transport this water and so on? How about boiling if necessary? And in general, if the matter drags on, you will have to cook food. It's time for the dishes...

8) Dishes

The set of dishes should be minimal. Army flasks, “landing kits” and other nonsense go straight into the firebox. Again, travel dishes are best suited. A steel or titanium (steel is cheaper, titanium is lighter) pot with a capacity of 1.5 liters, the lid of which can serve as a frying pan or plate, and a small steel mug and spoon fit inside the pot. As for the spoon, I recommend ordering a special titanium “spoon-fork” on Aliexpress or eBay, it’s convenient and saves space and weight. Why not take a separate spoon and fork, you ask? Oh, and a manicure set with a dollhouse. You were going to survive, not to go on a picnic with preference and ladies!

What will we cook with? You shouldn’t carry a gas stove with you. You need a means to make fire. Lighters in the firebox are unreliable and short-lived. We need something more reliable and something that will last a long time.

9) Matches, lighter tablets and flint

Why matches and flint? Let’s take one box of matches (or better yet, about 30 special non-extinguishing ones) - it weighs practically nothing, for the first time, so as not to bother, and quickly make a fire. The same thing with fire-ignition tablets - let’s take one package for the first time. It is better to take more expensive tablets for ignition - because... of our production (the company “Russian Holidays”, for example), if you set horseradish on fire in the wind, it’s been tested. Well, if the “hike” to a safe haven takes a long time, then the flint will come in handy. A reliable and eternal means of making fire, but it requires some skill. There is no need to refill anything, unlike lighters. By rubbing the rod against the chair (one blow is enough), a large sheaf of hot (3000 degrees at birth) sparks is cut out. In the picture, the set with the flint and steel also includes a small multi-tool: ruler + file + bottle opener. It’s better to tear it off right away - it will only get in the way. Why do you need a ruler after a disaster, bro?

In the dark, in caves and catacombs, you need something to light your way. Need a flashlight. But after a disaster you won’t be able to find batteries during the day. There is a way out...

10) Lantern dynamo

There are two options: two-handed (dynamo with a torque lever) and one-handed - as in the picture. We prefer the second, the right hand in the dark catacombs infested with zombies and mutants should hold an ax or machete, and not engage in twisting the handles of dynamos and other obscenities. The flashlight is exclusively diode - a hundred times more reliable than lamp ones.

Basically, if your post-apocalyptic everyday life goes well, then that’s enough. What if there is an injury or infection? You need to have a minimum set of medications for such a case.

11) First aid kit

What to put in the first aid kit? Everything that has already been useful to you once in your life, bro:

• Sterile gauze bandage, 1 roll;
• A tourniquet is a piece of elastic rubber tube or the same belt;
• Hydrogen peroxide;
• A tube of iodine or brilliant green;
• Activated carbon tablets - will help with mild poisoning and stomach upset;
• Citramon - 1 package, 10 tablets. Antipyretic and anti-inflammatory agent;
• Ibuprofen or ketonal is a pain reliever.
• Rolled adhesive plaster, 1 pc.

And finally...

12) A piece of rope

Horseradish knows what it is needed for, it will always come in handy for some reason, take it. It doesn't take up much space and weighs almost nothing. Right now it has become fashionable to wear a bracelet made of paracord - if necessary, unravel it, and here you have 4-5 meters of strong rope. It'll do.

Actually, the list of mandatory items that should be included in a universal survival kit has come to an end. Let's list them again:

1. Backpack;
2. Sublimates;
3. Trekking shoes;
4. A thoughtful set of clothes;
5. Axe;
6. Tablets for water purification (still throw a large bottle of clean drinking water in your backpack too);
7. Utensils (pot, mug, spoon-fork);
8. Campfire: matches, lighter tablets, flint;
9. Lantern dynamo;
10. First aid kit;
11. A piece of rope.

You can go stock up on all of the above - and you are ready for anything.

Controversial issues

We have already listed the basic set of essentials. But there are still some things that you might actually be able to do without, but they can still make your life easier if you survive a Justin Bieber concert in your city. For example, I would add a camping mat to this. You've seen these in photos of tourists on the Internet, they look like a yoga mat, rolled up and usually attached to the side of the backpack. Sleeping on it on the ground or stones is much warmer than sleeping on a lining made of some rags. The risk of freezing your kidneys at night is much reduced.

I really want to add a sleeping bag to the rug. And a piece of tarpaulin as an awning. And then no night cold or bad weather will definitely be scary. Actually, why wasn’t it included in the basic set? But who the hell knows, maybe because not being a tourist, you’ll just have a hard time buying a normal sleeping bag :)

Firearms? Maybe. But, again, what if it’s not a global earthquake or a zombie invasion, but something after which your city will be flooded with military or national guardsmen? Then you will most likely be shot with a firearm. Because you are hardly a seasoned Voroshilov shooter. Well, if so, then I think you’ve already decided everything on this matter.

It also makes sense to throw some money into your backpack (and if it’s in different currencies, that’s generally good), and keep your passport in it.

Would adding a minimal set of soap and snout accessories to the kit be “universal”? More likely yes than no.

And now a little seriousness: nothing will help you more than your own knowledge and skills. Learn to understand mushrooms and plants, provide first aid, set traps for animals, cut up carcasses, shoot, navigate the forest, and the most difficult and most important thing is to recognize human intentions. And then you won’t be afraid of any apocalypse.

That's all! All the best!

Hello! On this blog page you will learn about a person who is very successful trader, I think you've heard of him.

His name is Alexander Elder, he has written more than one book and we will talk about them today. On my blog, I already talked about this author, or rather, I talked about his strategy, read -.
Modern trading in Russia
is in a situation where those who achieved success have already left for the islands, and those who failed do not want to know anything about. Various dealing centers are also looming on the horizon, but you won’t hear anything from them other than: “When will you place capital with us?”
In a state of such a vacuum, it is oh so difficult. What remains is self-education. It usually consists of watching thematic television programs, listening to radio stations that can help you understand the rhythm of life business man, and, of course, reading and listening to the author’s audio and video material.

This flow of information is sorely lacking a personal approach. There are not enough personalities to focus on. They are like a beacon that shines for a beginner in the darkness of a raging hurricane of misunderstanding.

Alexander Elder and his books - How to play and win on the stock exchange - Trading with Dr. Elder - Basics stock trading.

What kind of people should be who can become a reference point in the world of trading?

This kind of material is of a very different nature. These are not large publications about the life of a person himself, but most often we come across articles that help the author cope with a particular problem. For example, if we're talking about about the book, then it talks about a specific problem that has either been solved or is in the process of being solved, and the author, as it were, invites you to take part in the discussion and solution of this or that problem.

One of these Authors: Alexander Elder, he was born in Leningrad and grew up in Estonia. At the age of sixteen he entered the medical faculty of the University of Tartu. At the age of 23, he served as a ship's doctor, and fled from a Soviet ship in Africa to receive political asylum in the United States. In 1988, he created Financial Trading Seminars, Inc., which became one of the leaders in working with traders. He works with stock traders privately, as well as consulting with financial institutions and conducting seminars for traders.

Watch video interview

While becoming a specialist in psychiatry, he was simultaneously engaged in trading. Thus, by combining one activity with another, he was able to achieve results in both areas.

We are naturally interested in his work on trading. Today we will touch on a few of them:

• “How to play on the stock exchange Psychology. Technical analysis. Capital control"
• "Trading with Dr. Elder: An Encyclopedia of the Stock Game"
• "Basics of stock trading"

Before we begin describing this literature, I will give you links to publications by other authors:

“How to play and win on the stock market: Psychology. Technical analysis. Capital control."

First, sound individual psychology is important. It is important to play the game logically and systematically and thoughtfully plan capital control. These three supports are similar to stool legs. If you remove one, the stool will fall down along with whoever is sitting on it. This is what Elder says about the basics of stock trading.

What you can read about in the book: “How to play and win on the stock market.” This work provides material on how to be successful during stock trading, how to save capital during failures and significantly increase it when your session is winning. You will not only be able to learn the correct techniques for analyzing the existing market situation, but also master trading strategies, but you will also learn something that is not written about in textbooks - this is the psychology of a person who has achieved success.

Why you need to choose the book “How to Play and Win on the Stock Exchange”.

This book is a bestseller, it has been translated into 12 languages, and it is one of the most popular books in the history of stock trading.

The reason for this is based on personal experience a man who, having made a magnificent career as a speculator, made many mistakes, but achieved success. And now he is happy to share his story about how to get rid of the mistakes we make when trading on the stock exchange.

This is an excellent guide to the world of stock speculation, which has earned real authority among specialists, although the book is very different from everything that can be found on store shelves.

Who is it intended for?

This book is for investors who are doing it privately and want to achieve consistent winnings by playing the stock market correctly. They do not want to look back at the whims of the market, and for professional traders, who will be able to find themselves some new approaches.

Key concepts of the book:

• stock speculation,
• Stock market game
• Psychology of trading.

"Trading with Dr. Elder: An Encyclopedia of the Stock Game"

In this book you can learn everything you need to succeed in financial market, the psychology of the stockbroker, as well as the psychology of the masses.

The book contains specific instructions on how to properly create an operating unit working on the stock exchange and how to properly conduct accounts to start learning from your mistakes. You will find journals of six transactions that the author made, allowing you to follow his train of thought and find out how he made the decision to sell or buy, action by action.

One of the editions of the book contains a problem book, which includes one hundred questions and detailed answers that are tied to a specific chapter. This will help you check your level of knowledge before you have to risk money on the stock exchange. The book contains self-assessment scales that will help you understand how well you have mastered each of the important aspects of trading.

Logic in Elder's work using the example of the book's Introduction:

"Basics of stock trading"

In the introduction to the book “Basics of Stock Trading,” Elder immediately programs us to become a free person. He says that you can work and live anywhere in the world. This is how he imagines the life of a successful player.

He goes on to say that this is the desire of many, but the number of those who have achieved the goal is not large. By focusing our attention on the impossibility of achieving results for everyone, Elder shows us why this is so.

Perhaps the reason is that a newbie who turns his attention to a screen of stock market data will see millions of dollars flashing before his eyes. Next, the beginner turns on hope and takes up the game. But failure after failure awaits him.

He tries again and again, but the losses are mounting. Players lose not because they are unlucky, but because the game itself is hard.

It's over ignorance and indiscipline play important role. If you have the problems described here, then you need this book.

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Conclusion. The trader's path is a path of torment.

Those who have taken the path of a trader must understand that today you have to walk a narrow path, having mastered which you will forever get rid of the need to be tied to one employer, workplace or even country. But before you do this and gain unlimited freedom, you need to learn how to do what professional traders can do.

First, learn to control yourself. What you constantly read about in books about trading and, especially, in Alexander Elder, who knows that the psychological attitude to work is one of the most important factors. So important that he even puts the psychological problems of a trader on the same level as alcoholism. Want to try solving them yourself? There's no way you can! You will definitely need the help of a specialist or the path described by someone who has passed this road.

Secondly, create a trading system that will meet the requirements of the modern market. The fact is that the market changes a lot from day to day. What happened yesterday is completely different from what is happening today, figuratively speaking.

Therefore, the trading system must become a “living organism” that probes the market, just as a ship’s sonar “touches” the bottom.

A trading system should be created in three stages. At the first stage, rules are created that must be followed soberly and scrupulously, the recommendations mentioned in the first paragraph will help you with this. At the second stage, testing is carried out for.

It is important to get a steadily growing income. Next, you transfer your work to real money, first, then an account with the usual amount for trading. And finally, the third stage, when you compare the desired result from the system with the existing one. If these two values ​​do not match, you will have to start over again. Just start looking for weaknesses trading system and move on to improving it.

Thirdly, according to Elder, the trader's path is to observe money management or . This means that you create a standard for the amount of risk capital per transaction and at the same time create such psychological conditions that help ensure that you do not go beyond the designated limits.