TRADE MANAGEMENT - Knowing When To Sell A Position (Dr Alexander Elder)
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- Опубликовано: 4 июн 2024
- In this book The New Sell & Sell Short by Dr Alexander Elder, we look at the signs to look for when deciding on whether to sell a stock position.
Trade management is paramount for a stock trader looking to make this a profession.
Dr Elder author of Trading For A Living terms a sign for selling a stock as engine noise, a term which suggests the stock price is not behaving normally and should be looked at closely for a sign of when to sell.
Elder is however clear that which ever sell signal you choose, you should know in advance of placing a trade, what and when you intend to execute the sale.
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As a professional trader I have consumed hundreds of financial books and endured countless hours of self education. My hope is that this channel will reduce the learning curve duration of many aspiring traders by providing the key information in a concise and enjoyable manner.
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I like your honest disagreement to Dr. Elder.
I must say this 12-minute video is more practical than my MBA investment risk management studies.
I believe this is one of the best videos from Financial Wisdom. A lot of people have trouble knowing when to sell. (Including myself) I've had many positions go from positive to negative. It seems like a simple thing to do. If you would always sell in the green and abide by your stop, (considering profitability rate and RR ratio of course) you're a profitable trader. But for some reason, it just doesn't happen that way and it's because we don't follow our plan or don't have a plan set BEFORE entering the trade. Trimming the position on the way up helps keep profit and reduce huge losses too. HAVE A PLAN AND STICK TO IT!
Well said Luis
You don’t always have to think long term. Investing/Trading is as much a tool for shaping your present financial situation as it is for forming your future one. Do you want to buy a BMW next year? Do you want to go on a cruise? Wouldn’t a vacation that was paid for with dividends feel nice?
If you are investing in the hope of buying a house, you will almost certainly be looking at longer-term instruments. If you are investing to buy a computer in the new year, you may want short-term investments that pay dividends or some high-yield bonds.
PRISCILLA DEARMIN-TURNER is my financial Expert .. look her up
The caveat here is that you need to pinpoint your goals first. If you want to go on a vacation in a year, you have to figure out the cost of the vacation and then come up with an investing strategy to meet that goal. If you don’t have a set goal, the money that should be going into that investment will doubtless be used for other purposes that seem more pressing at the time.
This channel is better than my college degree.
lol
This channel is so underrated, love all of them
Thanks!
Please make video on "The life cycle trade; how to win at trading ipos and super growth stocks"
Just read the book
Recently becoming interested in Dr Elders book, find this video (as always previously about other authors) very useful to summarize the findings by this unusual doctor. Appreciate your work, thank you.
The best video I have seen to date. Literally was switching on light bulbs in my head as it played and it has made what I haven't been understanding for 3 years crystal clear...🤩 Thank you Dr Alexander Elder for the amazing analogy of Market Condition... I need to dive into his books asap.
Good luck nigel 👍
Great video, thanks for explaining exit plan which is more often overlooked
Thanks Sam
If you only buy one author of trading, it should be Dr Alex Elder.
Yes he knows his stuff👍
After a month of trading learning I saw your channel, interesting and useful videos, I just subscribed and watch them thanks!
Awesome, thank you!
Excellent thanks
Thank you so much!!! Very helpful!
You're welcome!
Thank you for your reviews and insight into the trading world
My pleasure Levi!🙏
Enjoyed this video, this strategy suits my trading style well. Thanks for a great summary...
Glad it was helpful!🙏
learn very much from your videos, thanks, keep uploading
Glad to hear that
Love your videos!!!!
Quick!
Thank you for these videos. Very useful, succinct.
Gold setting up towards your buy criteria. That video is just one example to help make money from.
Glad it was helpful!
Just on Gold. The Monthly MACD is actually pointing down so we are not looking to enter for a while.
@@FinancialWisdom Oops, I was looking at weekly. Need to watch video again.
Once again an awesome video
Here’s a suggestion for all of you traders: let the price hit your stop loss” period.
Thank you 😊...
Much Appreciated...
You're welcome 😊
thanks
this channel is underated
Thanks!
Very helpful summary 👍
Glad you think so!
Thank you very much, wonderful...
Welcome!
Excellent video however the "sell zone" at point B was drawn with the benefit of future price action! Don't we all wish we had future knowledge to make present day decisions 😊
Please make video on Richer,Wiser,Happier book summary
Thanks a lot sir!
Most welcome!🙏
You post ,good information video sir ,thank you , i am from India ,i watch regularly your video
You are most welcome
Nice job!
Thanks for the visit🙏
Nice video. The selling point in charts looks little bit like consolidation and forming a second base which could be a continuation of uptrend. So its not easy to differentiate. Thanks
Love your videos
Thanks Raju🙏
SIR thank you 👍👃
Welcome 👍
continue to digress and add value
Hello, thanks for the great video. I am rather confused though. I have read 'Trading for a living, 'Come into my trading room' and 'The new trading for a living' and my entries are still a mess. He says that if you analyse the weekly chart as the tide, then your daily Force Index gives you the entry signal by dipping below 0. This makes good sense to me. However, in 'The new trading for a living' he also covers his Impulse System, which is what you're not permitted to do system and on its own also makes good sense to me. But when you try and enter a position using Force Index on daily chart, that same day is often not permitted by the Impulse system. Could you please clarify an exact criteria for an entry? Thanks in advance.
Thanks
No problem
Thanks for the video. Please do you take off partial profits in the case where trade gors in your favour, before the final exit?
No, i'm either all in on a trade or all out. i have to be convinced, either way i'm fully commited.
Very very nice video sir 👌
I love your video's. please make video on trading book summary
Will try
In the context of this strategy, is an uptrend defined as the 13 EMA being above the 26 EMA and is a downtrend defined as the 26 being above 13? Thank you in advance. I love the presentation of your educational RUclips videos.
Thanks Luva. Yes that is one way of defining it, or I use the 20 week MA
Hi should we use trailing stop loss? And how to use it properly? Thanks
I trail based on the MACD indicator personally
How did Elder plot the envelope? Can anyone tell?
I have seen in an earlier video that you are trading since more than 25 years. My question would be: do you do this as a full time job? Or is just an extra to your everyday job? How much time you spend ok screening weekly? How many positions you take to maximum? Thanks in advance.
Hi - Yes this is my full time endeavour. Perhaps 4 hours on the weekend, it used to be more but the scanner we developed has taken a lot of leg work away. up to 16 positions if the market is trending
Hello Wisdom. I wonder if you could do a review of Darvas book You can still make it in the market? Kind regards and amazing vidoes
I'll take a look👍
It's funny how he sais "Price at some point snaps back to the EMA". Of course it does, but it's not because the price 'snaps back', it only is because the EMA catches up. I still get his point though.
Min 4:17 ... its a signal of low price? Buy? Dont buy at high levels - rising is unlikely.
How to predict upcoming trending sector for trading? Plz answer 🙏
There is no need to predict, just identify when the trend is in motion.
New book on the market
Yes fairly new
Do you have a paper book yourself Cause I would totally buy.
Hi, not yet!.. I have a dedicated forum if that interests you🙏
www.financialwisdomtv.com/forum
A man opened 2 accounts:
1. One for trading
2. The other one for investing
Over a period of time, the trading account became the investing account and the investing account became the trading account...
Hit the like button if you got it....
i like it 😁👌
Looks like Elder is a systematic trend follower not a discretionary countertrend trader..hope he's figured it out
What sell zone B, EMA 13 and EMA26 is clear sell line is not clear
Thanks for this recap!! What time frame is he using for this strategy with EMA 13 and 26?
HI Francis, he works with Daily and weekly it seems, with a bias towards the daily.
Great production, Gareth, thanks. I'm almost tempted to go off and write an essay comparing and contrasting Dr Elder with Stan Weinstein (e.g. Force index vs. Mansfield relative strength, etc), although both use very similar principles. Out of curiosity, when Elder refers to 13 & 26 EMAs is he using a daily or weekly chart? (Based on your earlier videos, I'm now weekly charts almost exclusively.)
Hi William, He uses the EMA 13 & 26 'period' therefore he can apply to daily and weekly. 👍
@@FinancialWisdom Thanks. I'll favour the weekly for most buying decisions then.
My p0rtfolio is plummeting significantly, I’ve lost about $320k within a few months and I'm not confident about picking st0cks anymore. Are there really no other options for me to gain from the stock market?
Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
Very true. Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a profit of approximately $950k that same year. In reality, all I was doing was getting professional advice.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success
There are a lot of independent advisors you might look into. But i work with Nicole Desiree Simon , and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
👍
This material fosters deep intellectual curiosity. A book I read with related ideas enhanced my thinking. "Mastering Money Mindfulness" by Benjamin Hawk
Do u also have strategy for forex trading?
Not really sorry.
@@FinancialWisdom
It's Okey.. Thank you hy the way.. Very informative content..
Love it....
Liked before video started like normal
lol thanks🙏
Gud morning sir.. Its been a while..🇵🇭
It has sorry🙃
@@FinancialWisdom sir, it's been 2 months now since I started my own journey.. And sad to say, all my positions are RED. 😭😭😭. One of the reason is that, we dont have stop loss application here in the 🇵🇭. I followed all ur advice and strategy. All the missing wer der is the SL. any advice??? Thank u and stay safe.. 😘😘😘
@@samrhaibeth8255 hi Samantha, when you say follow all my advice... do you mean all apart from the stop loss? We need a stop loss in all our stock positions, " cut losses, let winners run"
@@FinancialWisdom yes sir but the thing is we dont have stop loss here in the Philippines.
@@samrhaibeth8255 ok i understand, perhaps you should right the stop loss down or put into a spreadsheet and have discipline to follow it...
Plz trying to make in Hindi 🙏🏽
Your PDF is very expensive for people in India. 😢
Please Make these all videos in hindi language
Not sure how I can?
Wait is this Swedish investor???
Nope - He does investing, I focus from a different angle - We use the same software though👍
I liked your previous trading books analysis, but in this video it seems you overpowered your views rather than the Dr elders view, also didn't gave clear view of the topic.
Fair enough
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You use which editing software