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I just wanted to throw my 2 cents in on Elder's "Trading for a Living". By
chance, it was the first book on trading that I read. I consider myself
lucky to have read it first. I think it is a terriffic introduction to
trading. I consider it a beginners book, but in that respect it is
excellent. The thing that he is trying to do with starting the day thinking
negative and comparing traders to alcoholics is to warn you how easy it is
to get wrapped up in the process and blow your trading capital (which I
think he admitted in the book to doing more than once). He warns the reader
repeatedly not to overtrade and blow out and I personally think that is the
greatest single piece of advice you can get starting out. You can't trade
if you don't have anything to trade with. He tells a story of a friend of
his who traded himself up a huge fortune and then went on a sex-tour thru a
few asian nations with positions in the markets and no stops and emerged
from the escapade a few weeks later with a big grin on his face but a big
zero in his trading account (from memory, I could be off on the details). I
think it's a great intro to trading. Introduces the reader to psychology,
money management and indicators. If someone told me they wanted to start
trading and asked me how to go about it, I would tell them to read this book
before anything else.
Kent
-----Original Message-----
From: Lionel Issen <lissen@xxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Wednesday, November 22, 2000 9:45 AM
Subject: Re: Market Gurus
I haven't read his book, but someone who took a course from him mentioned
this to me.
This is the power of negative thinking. (Think negative and you will do
negative things.) This may be due to Elder's mind set. He grew up in the
Soviet Union where very few people were able to think positively, possibly
because under the Soviet System they had much less control over their lives
than we do. On the other hand his book "trading for a living" is considered
quite good by most people who use it.
Lionel Issen
lissen@xxxxxxxxx
----- Original Message -----
From: "Dan Cash" <dcash@xxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Tuesday, November 21, 2000 10:32 PM
Subject: Re: Market Gurus
Joe,
I do not recall your quote in his book. Would you please furnish a page
reference?
Dan
Joe Duffy wrote:
> Alexander Elder advocates starting every day saying "I am a loser, I can
do
> great damage to my account". Whatever else he repeats about others through
> heresay is pretty hollow, if thats how he views his own trading.
>
> ----- Original Message -----
> From: neo <neo1@xxxxxxxxx>
> To: <metastock@xxxxxxxxxxxxx>
> Sent: Tuesday, November 21, 2000 1:52 PM
> Subject: Market Gurus
>
> > I am reading Elder's "Trading for a Living" where he talks about market
> > gurus including Elliott and Gann:
> >
> > "I interviewed...Gann's son... He told me that his famous father could
not
> > support his family by trading but earned his living by writing and
selling
> > instructional courses... When [he] died...his estate...was valued at
> > slightly over $100,000."
> >
> > neo
> >
> >
> > -----Original Message-----
> > From: owner-metastock@xxxxxxxxxxxxx
> > [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Amadeus
> > Sent: Monday, November 20, 2000 10:49 AM
> > To: metastock@xxxxxxxxxxxxx
> > Subject: Re: Viruses and Memory
> >
> >
> > Neo,
> >
> > You don't nedd to update the virus definitions file every morning
> > :-)
> >
> > Symantec puts on line a new file approximately every 15 days. And
> > the soft reminds you when your definition file has to be updated. BTW,
> > each update creates a file which takes near 5 Mo on your HD and I
> > deleted recently # 70 Mo on my HD. You will find these files at
> > C:\programe files\Commun Files\Symantec Shared\VirusDefs\
> >
> > There, each update is in a separate sub directory.
> >
> >
> >
> >
> >
> > neo a écrit :
> >
> > > Tom et al
> > >
> > > Virus attacks seem to be on the rise. I have now put Norton
> > > SystemWorks in my Startup folder to remind me to do a live update
> > > every morning before downloading any email. It is quick and will keep
> > > one current.Also on another related front, neither Rambooster or
> > > Cacheman will alter system.ini in the way I was suggesting to force
> > > Windows to use all RAM before the swapfile. I have discovered that
> > > programs do not return memory when they close and Rambooster works
> > > great here. Thanks for the suggestion.
> > >
> > > neo
> >
> >
> >
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