Khóa học elder traderviet english version

LÀM SAO ĐỂ TRỞ THÀNH
TRADER GIỎI HƠN
Copyright 2020 Dr Alexander Elder

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Class outline
Time-tested
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Psychology (individual and mass)
Basic charting
Computerized analysis (favorite indicators)
Trading systems
Basic risk management
Good record-keeping

New trading tools – for risk control and self-control

• How to place stops
• How to manage money in your account
Current markets review
All illustrated with current market examples
Q&A throughout
After the class: visit SpikeTrade.com
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Individual psychology

• Open
• High
• Low
• Close
• Volume
Trading: intellectually simple …
Emotionally the hardest game in the world
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Individual psychology of a trader

Why do intelligent people keep losing money?

Trading as entertainment

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Individual psychology of a trader

Why do intelligent people keep losing money?

Trading as entertainment

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Individual psychology - mindfulness

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Mass psychology

• The tendency to huddle under stress
• Loss of independence in a group
• Market different from other social areas

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Mass psychology of the markets
– The tendency to huddle under stress

– Loss of independence in a group
– Market different from other social areas

Remedies:
 Make decisions alone!
 Do not ‘talk your book’

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Trade Journal for DISCIPLINE

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What is Price?

Charts are the footprints of bulls & bears

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Technical analysis is applied social psychology

Each price = a momentary consensus of value
among the crowd of market participants

The courage of the bid and the ask

The argument with the crowd

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Classical charting is quite subjective

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Helpful patterns in classical charting
In classical charting I trust only:
 Horizontal lines (support & resistance)
 False breakouts, esp. Kangaroo Tails

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Classical charting – support/resistance, false breakouts, kangaroo tails

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Classical charting – support/resistance, false breakouts, kangaroo tails

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Crude Oil daily

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Classical charting vs. computerized analysis
In classical charting I trust only:
 Horizontal lines (support & resistance)
 False breakouts, esp. Kangaroo Tails

In computerized analysis
 Carefully selected indicators (see below)
 Combinations of indicators

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Less clutter – more clarity

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Five Bullets to a Clip
Moving Averages (exp.)

Envelopes (Channels)
MACD (Lines & Histogram)
Force Index
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A moving average is a composite photo

Exponential (EMA) is more objective

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