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Entries and Exits. Visits to 16 Trading Rooms (Wiley, Trading)
A Fair Trade
Since 1984 the latest, the year of the legendary argument between Richard Dennis and William Eckhardt that induced the succeding of the 'Turtles', one thing about trading is ultimately out of question: Trading can be taught and vice versa learned. The New York psychiatrist, trader and trading consultant Alexander Elder likewise addressed himself to this subject: Educating people who like to trade (for a living). Among others, Elder visited some of the former participants of his courses for an interview to let the reader take a look over their shoulder.
What we see there are two transactions including some explanation on the reason and timing of the entry and the exit of the respective trade by the interviewees themselves. We get an idea of their trade preparation and execution methods. And thanks to the diversity of the approaches of the 16 participating traders, almost every reader will get something out of it. Finally Elder comments on the illustrated approach out of his perspective, that one might know from his other publications.
I personally like this sort of book, since it reminds me of 'Market Wizards', although it is more concrete due to the illustration of explicit transactions. On the other hand 'Entries and Exits' differs from Jack Schwagers' excellent books, since it is not written in interview style and altogether it does not achieve the quality of one of the 'Market Wizards'. However, the reader can benefit a lot from learning, how to put Elders three principles of successful speculation (money-management, method and mind) into work. If this proofs to be helpful in the readers own trading, is something that he has to find out for himself. Since there is another thing about trading that is beyond question: You can learn how to trade, but you cannot just copy someone else's trading.
Siehe auch:| Börse & Geld
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