The New Sell and Sell Short by Alexander Elder

The New Sell and Sell Short: How To Take Profits, Cut Losses, and Benefit From Price Declines is a 2nd edition of his not very popular trading book titled Sell and Sell Short. This one is timely piece of trading education that can be of a great help during current times of recession and bearish markets out there. If you’ve read some of the best-selling books by Alexander Elder (which I strongly recommend doing): Entries and Exits, Trading for a Living, Come into My Trading Room, you should already know that Dr. Elder knows what he’s talking about and knows how to tell it to the traders, so that they would learn something really useful and helpful. This book unites his emotional and psychological studies with the most sophisticated trading methods to create a strategy to trade by selling and selling short. Of course, not everything here can be applied successfully to Forex market, but it still contains many lucrative lessons for all types of traders.

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Forex trading is almost never profitable without a Forex strategy. You can read the detailed descriptions with the examples of several Forex strategies, including indicator strategies, price action strategies and fundamental strategies.

List other books by Alexander Elder.

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Below you can read the reviews of the book and also submit your own review about The New Sell and Sell Short by Alexander Elder.

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1 Review

  1. Loki:

    It’s good to see Dr. Elder to update and publish the new edition of his book. He was sharp enough to assess the warning signs of the year 2007 Bull Run to come to an end and thus wrote this great book about the value of shorting stocks and importance of the timing exist when the time was appropriate. The author has good control over the exits and entries in publishing, possible because he is trading. The timing of the book, i.e. May 2008 was perfect for the trading community.
    In case you are browsing Amazon for a good trading book then you need not look further, as this one is among the best available in the market. You will see that this book is more informative than all the books that you have previously read. It is truly a complete book on stock trading and it covers everything required to ensure long term success in the market.

    1) The traders including the discretionary traders must have a plan for trading.
    2) It is important for the traders to keep a record so as to understand their successes and mistakes.
    3) A trader should avoid trading too big, as it may lead to bad judgment or mistakes.
    4) A thumb rule is to reduce the losses to a maximum of 2% or less so as to limit the risk of ruin.
    5) If you trade with discipline then you will surely stay ahead of other traders.
    6) Your trading must fit your risk tolerance as well as your personality
    7) In case you are relying on your fundamentals for trading then do cross check it with analytical trading tools.
    8) It is important for you to understand that stock option buyers turn out to be net losers in market.
    9) Traders simple cannot give up on their stocks since they are stopped out, however a trader is successful, if he or she keeps trading until he or she catches a winning trader.
    10) Rallies off support and false breakouts are among the two best trading opportunities which one can utilize.

    Author has got a brilliant trading style. He trades with slow and fast moving averages, i.e. 13, 26, along with the envelopes. The book teaches you how you can use short term swing traders with the help of force index and MACD to trade when the stock is below or above its value zone. The trading style here is to win high probability trades by catching half or more stocks average and not by catching huge trends. Professionals adopt this way to trade in a normal market. Risk management is very vital and it can be practiced using stops, which will surely protect you from trend that take off and then fall outside their average range.

    When you see the title of the book you will feel as if it suggests when you should sell your stocks to gain profit. It really teaches you that. However apart from it, this book also explains the concept of short selling. Together, these things make this book a complete solution to any trader. This book will teach you when you can lock in the profits and when you can exit trade with the help of a target. Also, it teaches you how you can double the potential for profits, by not just buying the stocks but also selling them so as to buy them at a much lower price and making profit.
    Majority of the professionals sell short because even if the stock market rises, when a stock falls it falls at a much faster pace than it rises. Selling short is a perfect tool, only when it is used appropriately. This book will make you learn when it is appropriate to sell short.
    Dr Elder has integrated money management, record keeping, technical analysis as well as trading psychology is just one book. These factors are of great importance and will have a big impact in making you a successful trader.

    If you want to be a successful trader then you must follow the money management ideas which are given in this great book. This book states that you should never ever risk more than 2% of your total equity in trading. If you follow this rule, it will surely save you from any problem that you face in trading and save you from huge equity draw downs.
    A successful trader is one who is able to learn from the mistakes that he or she makes in trading and ensure that the same are not repeated. The best way to avoid these mistakes is to keep a record of them in the form of charts, spreadsheets or diaries etc. You should look squarely at each win and loss. If you limit your loss to just 2% and learn from your mistakes, then you are surely going to be a big name in the field of trading.
    This review is just one of the hundreds of good reviews for this book. The book consists of some very helpful real trades, humor, helpful principles and is simply superb. The other books by Dr. Elder, i.e. “Trading for a Living” and “Come into my Trading Room” are also best sellers. If you want to trade successfully then this book is a must buy for you.
    Dr. Elder also very cleverly has added the trades from 2008-09 bear market. His explanation on trader is very informative and interesting. You will find some reviews of charts of that time period which reflected bottom signals and when it was time to stop the selling and start buying the stock again.