Sell and Sell Short (Wiley Trading)

Sell and Sell Short (Wiley Trading)
by Alexander Elder

List Price: ~~$85.00~~
Our Price: $39.98
You Save: $45.02 (53%)
Availability: Usually ships in 1-2 business days
Category: Book
See more book details and other editions

Compare Prices for Sell and Sell Short (Wiley Trading)

Buy this book at online book store in your country
Canada | UK | Germany | France

Book Summary Information

Author: Alexander Elder
Edition: Hardcover
Audio: English (Original Language); English (Unknown); English (Published)
Published: 2008-05-05
ISBN: 0470181672
Number of pages: 250
Publisher: Wiley

Book Reviews of Sell and Sell Short (Wiley Trading)

Book Review: Practical discussion of common trading issues
Summary: 5 Stars

Sell & Sell Short addresses most of the questions which beginners ask about selling stocks. If you have reached the point where you understand that the selling decision is critical to the process of making successful forays into the market, this book is for you. I found this book to be fascinating. I could not put it down.

It has been written in three parts:

Part One
Dr Elder first brings the reader up to speed on how to buy, manage risk and keep records. While the buying method summary and the risk management to a large extent summarise and refer to his previous works (Trading for a Living, Come into my Trading Room and Entries & Exits), the discussion about keeping records provides important new insights. Indeed Dr Elder makes the strong claim, which I would echo from my own experience, that the best traders will be those who keep good records. The reverse also applies. Poor traders tend to have no records. This is because investing is not simply a matter of acting in the market and making money. It is voyage from ignorance to mastery. They key to this voyage is that you know where you want to go, how you intend to go there and learn from every attempt, so improving your skills.

Part Two
Here Dr Elder takes us into deep into the question of how to sell. He has divided this part of the book into three chapters, dealing with each of the three types of selling.

The first chapter deals with selling at a target. He shows how he does this with a moving average, envelopes or channels, and resistance levels. Dr Elder does a marvellous job here, explaining the logic of his trading plan and how the various selling points derive from that logic. This is no academic exercise. Here, and throughout the book, he shows actual trades, often showing what he learned from the ones that went well and the ones which did not work out.

The second chapter deals with selling on a stop. This is one of the best chapters in the book, particularly because it is one of the questions which beginners ask me most often. Dr Elder's discussion explores every aspect of setting stops from a very practical point of view and with many examples. I would have paid the price of the book for this chapter alone.

The third chapter deals with selling on what Dr Elder calls "engine noise". This addresses a very common issue that neophyte traders agonise over: wait till the stop is hit, or bail out early. This chapter includes some anecdotes on how the market can ring a bell near the top and introduces the idea of a decision tree for selling, not as a theoretical idea, but what it means in practice, based on Dr Elder's own experience working on his own trading decision tree over many years.

Part Three
This year, we are living through a bear market. One way traders can profit in a bear market is by short selling. This involves a basic idea of trading: trade with the trend, which is down. Short selling is an easy concept to grasp. You borrow some shares, sell them and later buy them back at a lower price, before returning the borrowed shares. There are some complications in this, compared to going long, which are discussed from a practical perspective based on Dr Elder's extensive personal experience with short selling.

While short selling was recently banned for a while in at least some stocks in several countries, it is an important part of the trader's skill set. In this respect Sell & Sell Short has been published at the perfect time. I am asked all the time about short selling. Dr Elder has written for me an answer to those questions, to which I will point traders for years to come.

Short selling is a skill which may be employed in falling markets. However, even in upward trends, there are counter trend moves which are exploitable using Dr Elder's methods. He shows examples in the stock market and also discusses the particular characteristics of shorting futures, option and forex.

Conclusion
This book is beautifully printed in colour on glossy paper. This is necessary to fully explain the methods and bring the charts to life in an easily understood way. It also explains why it is not the cheapest book in the bookstore. This reminds me of the trader who years ago asked me for a good book on trading. When I suggested he buy and read Trading for a Living (Dr Elder's first book), the trader admonished me for suggesting a book which then sold for about $100.00 Australian. I asked him how he was faring in the market that year, to which he told me he was down $15,000 to date. I was impertinent enough to suggest that $15,000 was a high price for tuition, compared to what was available for only $100. He walked away. However, this story focuses on a philosophy that pays great dividends. I have read several hundred books on the markets. From almost every one, I learned at least one thing which was worth far more than the price of the book. Sell & Sell Short is no exception.

Write your own review

More Sell and Sell Short (Wiley Trading) reviews:
1 2 3 4

Summary of Sell and Sell Short (Wiley Trading)

In Sell and Sell Short, Dr. Alexander Elder examines one of the most overlooked aspects of trading and reveals how you can protect and profit from your trades by exiting them the right way. Throughout the book, he explains how to set profit targets and stop-loss orders prior to entering any trade. He also shares real-world examples that show how to manage your position by adjusting your exit points as a trade unfolds. Along the way, Elder also addresses short selling.

Options Books

Book Subjects

Most talked about in Top 5 stock trading books for beginners

Monster Stocks: How They Set Up, Run Up, Top and Make You Money
by John Boik
McGraw-Hill; Published: 2007-10-15; Hardcover; Book
Best price: $13.87
Price in other shops: ~~$29.95~~

Invest Like a Shark: How a Deaf Guy with No Job and Limited Capital Made a Fortune Investing in the Stock Market
by James "RevShark" DePorre
FT Press; Published: 2007-10-18; Hardcover; Book
Best price: $15.39
Price in other shops: ~~$25.99~~

The Complete Guide to Investing in Short Term Trading: How to Earn High Rates of Returns Safely
by Alan Northcott
Atlantic Publishing Company (FL); Published: 2008-02-28; Paperback; Book
Best price: $13.80
Price in other shops: ~~$24.95~~

Sell and Sell Short (Wiley Trading)
by Alexander Elder
Wiley; Published: 2008-05-05; Hardcover; Book
Best price: $39.98
Price in other shops: ~~$85.00~~

The Complete Guide to Day Trading: A Practical Manual From a Professional Day Trading Coach
by Markus Heitkoetter
Outskirts Press; Published: 2008-06-30; Paperback; Book
Best price: $14.35
Price in other shops: ~~$15.95~~

The Neatest Little Guide to Stock Market Investing (Revised Edition) (Neatest Little Guide to Stock Market Investing)
by Jason Kelly
Plume; Published: 2003-12-30; Paperback; Book
Best price: $9.75
Price in other shops: ~~$15.00~~

Similar Books and other products

Trend Trading for a Living: Learn the Skills and Gain the Confidence to Maximize Your Profits
by Thomas K. Carr
McGraw-Hill; Published: 2007-12-06; Hardcover; Book
Best price: $22.38
Price in other shops: ~~$39.95~~

Study Guide for Entries and Exits: Visits to 16 Trading Rooms (Wiley Trading)
by Alexander Elder
Wiley; Published: 2006-04-28; Paperback; Book
Best price: $17.98
Price in other shops: ~~$40.00~~

Mastering the Trade (McGraw-Hill Trader's Edge)
by John F. Carter
McGraw-Hill; Published: 2005-12-07; Hardcover; Book
Best price: $32.49
Price in other shops: ~~$59.95~~

Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude
by Mark Douglas
Prentice Hall Press; Published: 2000-04-01; Hardcover; Book
Best price: $26.88
Price in other shops: ~~$50.00~~

Trading for a Living: Psychology, Trading Tactics, Money Management
by Alexander Elder
Wiley; Published: 1993-03-08; Hardcover; Book
Best price: $41.01
Price in other shops: ~~$75.00~~

The Secret Science of Price and Volume: Techniques for Spotting Market Trends, Hot Sectors, and the Best Stocks (Wiley Trading)
by Tim Ord
Wiley; Published: 2008-03-03; Hardcover; Book
Best price: $45.55
Price in other shops: ~~$85.00~~

Come Into My Trading Room: A Complete Guide to Trading
by Alexander Elder
Wiley; Published: 2002-04-19; Hardcover; Book
Best price: $30.48
Price in other shops: ~~$65.00~~

Entries & Exits: Visits to 16 Trading Rooms (Wiley Trading)
by Alexander Elder
Wiley; Published: 2006-04-28; Hardcover; Book
Best price: $41.24
Price in other shops: ~~$95.00~~

Study Guide for Sell and Sell Short (Wiley Trading)
by Alexander Elder
Wiley; Published: 2008-05-02; Paperback; Book
Best price: $20.05
Price in other shops: ~~$40.00~~