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The New Sell and Sell Short: How to Take Profits, Cut Losses, and Benefit from Price Declines

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A detailed look at one of the most underestimated aspects of trading-sellingIn The New Sell and Sell Short, Second Edition, Dr. Alexander Elder explains how to exit a stock at the right time and how to initiate a short position to profit from a stock that is showing weakness. Often overlooked, selling properly enables a trader to cut losses and maximize profits. Moreover, A detailed look at one of the most underestimated aspects of trading-sellingIn The New Sell and Sell Short, Second Edition, Dr. Alexander Elder explains how to exit a stock at the right time and how to initiate a short position to profit from a stock that is showing weakness. Often overlooked, selling properly enables a trader to cut losses and maximize profits. Moreover, short selling in a weak market can generate big profits and should be a part of every trader's arsenal of tools. The new edition contains numerous examples of short selling stocks from the 2008-2009 bear market, demonstrating very clearly why traders do themselves a disservice by only focusing on the long side. In addition, the new edition contains an extensive study guide to help readers master the material prior to trading.Elder shares real-world examples that show how to manage your positions by adjusting your exit points as a trade unfolds. Contains new examples and insights from the 2008-2009 market meltdown Includes an extensive study guide with 115 questions and answers and 17 chart studies Discusses the selling process from a variety of angles: technical, fundamental, and psychological Explains how to maximize winnings in a profitable trade and how to minimize losses when a trade doesn't go as planned Offers detailed guidance for traders of stocks, financial futures, commodities, and currencies Explains how to set profit targets and stop-loss orders prior to entering any trade Other bestselling titles by Elder: Trading for a Living, Come Into My Trading Room, and Entries and ExitsUnderstanding where and when to sell is essential to successful trading. The New Sell and Sell Short, Second Edition is the definitive reference to this overlooked, but vitally important, aspect of trading.


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A detailed look at one of the most underestimated aspects of trading-sellingIn The New Sell and Sell Short, Second Edition, Dr. Alexander Elder explains how to exit a stock at the right time and how to initiate a short position to profit from a stock that is showing weakness. Often overlooked, selling properly enables a trader to cut losses and maximize profits. Moreover, A detailed look at one of the most underestimated aspects of trading-sellingIn The New Sell and Sell Short, Second Edition, Dr. Alexander Elder explains how to exit a stock at the right time and how to initiate a short position to profit from a stock that is showing weakness. Often overlooked, selling properly enables a trader to cut losses and maximize profits. Moreover, short selling in a weak market can generate big profits and should be a part of every trader's arsenal of tools. The new edition contains numerous examples of short selling stocks from the 2008-2009 bear market, demonstrating very clearly why traders do themselves a disservice by only focusing on the long side. In addition, the new edition contains an extensive study guide to help readers master the material prior to trading.Elder shares real-world examples that show how to manage your positions by adjusting your exit points as a trade unfolds. Contains new examples and insights from the 2008-2009 market meltdown Includes an extensive study guide with 115 questions and answers and 17 chart studies Discusses the selling process from a variety of angles: technical, fundamental, and psychological Explains how to maximize winnings in a profitable trade and how to minimize losses when a trade doesn't go as planned Offers detailed guidance for traders of stocks, financial futures, commodities, and currencies Explains how to set profit targets and stop-loss orders prior to entering any trade Other bestselling titles by Elder: Trading for a Living, Come Into My Trading Room, and Entries and ExitsUnderstanding where and when to sell is essential to successful trading. The New Sell and Sell Short, Second Edition is the definitive reference to this overlooked, but vitally important, aspect of trading.

30 review for The New Sell and Sell Short: How to Take Profits, Cut Losses, and Benefit from Price Declines

  1. 5 out of 5

    Mike Oksenenko

    Best reading order: 1) To Trade or Not to Trade (Alexander Elder) 2) Two Roads Diverged (Alexander Elder) 3) Trading for a Living (Alexander Elder) 4) Entries and Exits (Alexander Elder) 5) Come Into My Trading Room (Alexander Elder) 6) Sell and Sell Short (Alexander Elder)

  2. 5 out of 5

    InvestingByTheBooks.com

    This book isn’t really for me or any other more fundamental and long-term investor – but it is excellent. Short sellers come in many forms and just as there are short term contrarian traders on the long-only side there are those on the short side. Dr. Alexander Trader is one such swing trader with an investment time horizon that is probably between a few days up to a month. The strategy is to trade the short fluctuations around a trend. To profit from these price wiggles it is only natural to tr This book isn’t really for me or any other more fundamental and long-term investor – but it is excellent. Short sellers come in many forms and just as there are short term contrarian traders on the long-only side there are those on the short side. Dr. Alexander Trader is one such swing trader with an investment time horizon that is probably between a few days up to a month. The strategy is to trade the short fluctuations around a trend. To profit from these price wiggles it is only natural to try to exploit movements both as prices go up and as they go down. Apart from being an active trader the author is since long a teacher of other traders and has written a large number of books on trading and trading psychology. The last angle is important since Sell & Sell Short clearly excels when it comes to the description of the psychology of being invested in the financial markets. Interestingly, the experienced mental joys and pains of putting on short-term trading positions and holding a longer-term fundamentally based portfolio are remarkably similar. Despite being a book on selling and short selling, those two subjects are complemented by one section on buying. They probably cover one third each of the books volume. In many cases this kind of branching out from the main subjects detracts from the worth of a book. This time it adds to the worth since the reader gets a feel for all the necessary angles of succeeding in markets, be it knowing ones edge, keeping records to learn from mistakes or handling money management, i.e. portfolio risk. Paradoxically, Elder describes his trading strategy as a value strategy. He buys when the price is lower than the value and the price is looking as it is about to turn up. He sells when the price reaches the value zone, or he might ride it a little further into overvalued territory if the momentum of the share price is really strong. He sells short when the stock is in expensive territory and has started to decline and then covers his position when the stock is back down in the value zone. The thing is, what the author calls “value” is the zone between two rolling averages, i.e. the underlying medium term trend of the share price, rather than the intrinsic worth of the company. While buying is fun and offers opportunities, selling is an unsmiling business. This is why books on selling are important but rare. If a stock goes in the wrong direction doubts start to swirl in the back of the trader’s mind. If it goes in the right direction he is torn between taking profits but then risk not taking part in potential further profits. Selling situations can according to Elder be split into three categories: a) selling with a profit at a pre-determined profit target, b) selling with a loss using a protective stop and c) selling between the profit target and the stop level since conditions have changed and you no longer want to hold the position – “when in doubt, get out”. Covering short positions very much follows the same logic only with the price trend turned on its head. A long teaching career, trying to explain something to others, makes wonders when it comes to how illuminating and clear this text is in explaining Elder’s very hands-on method to trading. I also appreciate the author’s wide knowledge of other investment styles as he can readily discuss similarities, differences, advantages and disadvantages of what he is doing himself compared to quants, fundamental investors, momentum traders, short sellers, long-onlies and so on. The key message is that to succeed any investor must do what suits his own disposition. This book is highly recommended for the swing trader looking to profit from all types of short-term price movements – but also for those interested in understanding equity markets and investment psychology at large.

  3. 4 out of 5

    Doug

    Good book - should have read the other two first

  4. 5 out of 5

    Reid

    Dr. Alexander Elder has created a valuable guide to using certain reliable economic chart indicators to predict when price will change direction and revert to its moving average. He includes plenty of charts and includes demonstrations with stocks and other securities; he includes a trade on the price of gold, showing that his system works there. He also includes valuable anecdotes about how people sometimes give him unintentional "signals" that a market has peaked and it is time to sell. He cau Dr. Alexander Elder has created a valuable guide to using certain reliable economic chart indicators to predict when price will change direction and revert to its moving average. He includes plenty of charts and includes demonstrations with stocks and other securities; he includes a trade on the price of gold, showing that his system works there. He also includes valuable anecdotes about how people sometimes give him unintentional "signals" that a market has peaked and it is time to sell. He cautions us that "the market does not exist to put money in the hands of amateurs," but his goal in writing this book is to show people that they too can trade for a living with a consistent success rate and eventually quit their day jobs, so that is enough reason to check it out.

  5. 5 out of 5

    Sailaway

    excellent like the previous one!

  6. 5 out of 5

    Russ

    Elder relies on relatively complex technical analysis. Not for me but if you are a full time trader, you may find value in his systems.

  7. 4 out of 5

    Todd

    Excellent book, but a lot of material was previously covered in Dr. Elder's 2 previous books. Excellent book, but a lot of material was previously covered in Dr. Elder's 2 previous books.

  8. 5 out of 5

    Alexander Stautner

  9. 4 out of 5

    Benjamin de Weerdt

  10. 5 out of 5

    Patricia

  11. 5 out of 5

    Cleo

  12. 4 out of 5

    John Hill

  13. 5 out of 5

    Andrés Correa

  14. 5 out of 5

    Hendrik Swanepoel

  15. 4 out of 5

    alpsconsult

  16. 4 out of 5

    M.reader

  17. 5 out of 5

    Ayomide Adeware

  18. 5 out of 5

    Ivo Stoykov

  19. 4 out of 5

    Alan Potter

  20. 4 out of 5

    Leroy510

  21. 4 out of 5

    Shane Clancy

  22. 5 out of 5

    Mihail Nedkov

  23. 5 out of 5

    Carlos Gomez

  24. 4 out of 5

    Glen Andrews

  25. 4 out of 5

    Michael

  26. 5 out of 5

    Vicky

  27. 4 out of 5

    cosmin

  28. 4 out of 5

    Freepal

  29. 4 out of 5

    Reg Bryant

  30. 5 out of 5

    Ricardo Bruxellas Peixoto

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