I have just recently attended a 2 day seminar which was held by Dr Alexander Elder, which is famous in the psychology field in trading. Basically he presented his ideas about trading from some of his famous books, trading for a living & come to my trading room.
Despite having already read both of his books before attending the event, I still enjoyed a great deal of it as he presented it with constant jokes, and of course, insightful trading ideas
On 1st day of the event, he touched really basic stuffs, such as the difference between Price and Value, money management, and always look at more than 1 time frame to get an additional edge. He also run through a handful of stocks, and explained to us how to analyze and what he is looking at when he sees a chart.He always looks at weekly chart to sort of to know whether he is bullish or bearish. He then proceeds to Daily chart to see whether or not there is an entry opportunity. If there is, he would grade it as A, B, or C trade. A trade is an immediate trade. B trade, is the trade that he might enter in the next few days as he is waiting for some pull back in price, and trade C, as potential trade that he would look at in weeks. He also continued with emphasizing that missing trade is OK. In the case of trade B, if the price went up / down without having some pull backs for him to get in, he would be OK, and move on.
Overall, excellent revision for me and I enjoyed it.
Simon Ng
March 21, 2012
Pls inform me on up coming seminars.