READING ROOM: Entries & Exits: Visits to Sixteen Trading Rooms

Physician's Money Digest, September 2006, Volume 13, Issue 9

Entries & Exits: Visits to Sixteen Trading Rooms

Entries & Exits

Investment books—of which there are many—oftendescribe one particular strategy to tackle investing. Likemost things in life, investing is not black and white, andthere are a plethora of books that try to define the gray.Mostphysician-investors don't have the time to pick up a dozen ormore different books to learn the different lines of attack. Dr. Alexander Elder's newbook (Wiley; 2006) does that for you.Dr. Elder takes his readers into the trading rooms of 16 highly experienced traders tolook over their shoulders and soak up their expertise. The book features real tradeswith clearly marked entry and exit signals on full-color charts—this is one of only fewinvestment books that offer 4-color diagrams and pictures. Each chapter begins witha biography of the trader, describing their particular investment methods. Followingthe biography is a fully annotated set of color charts that illustrate two real tradesfrom beginning to end—one winning, the other losing. Dr. Elder presents the entry ofeach trade on the right-hand side of the page and challenges you, the reader, to putyourself into each trader's shoes and speculate if the trade will make or lose money.After you establish your own prediction, turn the page and see how the trade workedout. Going behind the scenes, addresses a host of issues from choosingthe right trading method to selecting markets, keeping records, and decidingwhether or not to have other people manage your money, which helps novices speedup their learning curves and experienced traders refine their game.