Author: Alexander Elder
Alexander Elder, M.D., is a professional trader and a teacher of traders. He is the author of Trading for a Living, considered a modern classic among traders. First published in 1993, this international best-seller has been translated into more than a dozen languages and is being used to educate traders around the world. His latest book is The New Sell & Sell Short: How to Take Profits, Cut Losses, and Benefit from Price Declines (2011).
Dr. Elder was born in Leningrad and grew up in Estonia, where he entered medical school at the age of 16. At 23, while working as a ship’s doctor, he jumped a Soviet ship in Africa and received political asylum in the United States. He worked as a psychiatrist in New York City and taught at Columbia University. His experience as a psychiatrist provided him with unique insight into the psychology of trading.
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How to understand about technical analysis: Learn about technical analysis
In finance, technical analysis is an analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume.
Behavioral economics and quantitative analysis use many of the same tools of technical analysis, which,
being an aspect of active management, stands in contradiction to much of modern portfolio theory.
The efficacy of both technical and fundamental analysis disputed by the efficient-market hypothesis. Which states that stock market prices are essentially unpredictable.
In the last Article , we had seen an Introduction to trading . In this section we will see what are the 3 M’s of Successful Trading as per Dr Alexander Elder .
I will give brief introduction of each of it , Its your responsibility to take it further and learn it in detail . take this as just a starting point .