Rating: 
Summary: Enhanced my knowledge...
Review: In enjoyed how Dr. Elder draws on his experience in trading psychology. There are a lot of mental barriers one must overcome to become a successful trader, and he covers many. Technical analysis is covered in depth also. I am not as eloquent as the other writers of these reviews, but all I can say is that I am a serious student of trading and I had trouble putting this book down.
Rating:
Summary: Great book. This should be the first one you buy.
Review: The book is very well written and drives home the three Ms over and over. You can't hear it enough because when your finger is on the trigger, this training will help you execute with confidence. You will not be a loser if you follow the plan. The problem is, very few have the discipline. I have long been and investor, but I wanted to improve my exit strategies. I knew successful traders had to have great exit strategies or they could not survive very long. Consequently, I actually bought a book on trading. The book helped me with exit strategies, but also completely opened up the world of trading. While I still invest for the long term, I have set up an account for short term trading. I read the book and worked through the workbook in about three days. I already had much of the preliminary work established from my investing experience. Within about a month, I had a trading plan that I liked and a sound money management and trade evaluation system. While I still primary invest in longer term trends, I have had a blast making numerous small short-term trend trades. This book will help any trader who reads it with an open mind and strictly adheres to the Three Ms - Mind, Method, and Money (Management). If you are and investor, then this book will expose you to what else is going on with your markets.
Rating: 
Summary: Sequal to trading for a living
Review: Alexander Elder gained well-deserved prominence for his first book, Trading For a Living. It's one of my favorite books on trading. Out of this classic came such new indicators as the Force Index, which is one of the indicators I use regularly in my chart software. I read Elder's follow-up, Come Into My Trading Room, in hopes of learning additional insights of the Force Index. While I found some new information here, I was even more impressed by the following lessons Elder shared: 1) "Some of the best trading opportunities occur after false breakouts" - I'm finding this more and more these days, which is why I actively use my Momentum Divergence indicators to separate the fakeouts from the real breakouts. Elder does a great job showing numerous charts throughout his book, laying the groundwork for the divergence examples he explains in great depth when you step into his trading room in the final chapter with many actual trading examples. You need to understand the concept of divergence to trade today's markets more profitably, and this book will be a great help in showing you how to trade divergence setups. 2) Triple Screen - Elder explains the important of using multiple timeframes, though he advocates two to no more than three time frames. The key concept is that whatever timeframe you use, you need to go up to the next longer timeframe to get confirmation. This provides the bigger picture trend to define the nature of your trades, and then you can return to the shorter timeframe and make more tactical decisions with this broader trend in mind as well. 3) Grade Your Performance - Elder actually quantifies trading effectiveness by defining the width of the channel for a stock, and what percentage of the move the trader actually captured to determine his grade. Regardless of how a trader measures his performance, it must be tracked in order to make improvements and experience constant improvement. 4) The SafeZone Stop - While I have not tested this indicator in my systems yet, Elder's SafeZone Stop looks like a more effective way to place a trailing stop than standard moving averages. The SafeZone Stop appears to adjust more rapidly to trending versus flat periods for a stock, compared to moving averages. This new technique should easily be worth many times the price of this book by itself. 5) Chapter 9: Trading for a Living - This chapter was my most highlighted chapter, as Elder covers the stages of growth from beginning to professional trader, covering a wide range of topics on trading discipline, time management, organization and developing a viable trading plan, to highlight just a few. All in all, Come Into My Trading Room is an excellent follow-up to Elder's Trading For A Living, and I think you'll also find it a quick and thought-provoking read.
Rating:
Summary: Improvement In My Trading Room
Review: Dr. Elder holds nothing back. The author shares with you a method, a system, and a technique for trading that can be applied to all markets. This book and the study guide will take you step by step through the process of trading. If you don't have a trading plan this book will show you how to develope one. Also the author nudges you to awareness of the all important step of making the trading plan yours. If you are a novice this can be a huge hurdle to overcome without guidance. If you are a more experienced trader and can admit to yourself your result could be better, buy the book, its worth it. Dr. Elder includes step-by-step guides for risk control, money management, record keeping and many more trading essentials that cannot be touched on in this review.
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