The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management

Why teach?

Why not simply stay in front of the screen and quietly grind outprofits?

Whenever I hear this question, I say: "Preaching is good for thepreacher." Showing specific chart patterns and stressing the needfor discipline reinforces my own performance.

To master a concept you have to be able to teach it to others.If you can't explain what you think you know, then you really don'tknow it.

Once or twice each year I run a live trading workshop with KerryLovvorn, my partner in SpikeTrade.com. At the time of this writing,we had six such workshops, traded our accounts in each of them, andboth of us made money in all six classes.

If you were to take six random days from my trading, I wouldn'tbe able to deliver 100% profitability. Neither would Kerry –but we've done it in our classes because working in front of agroup creates extra pressure to succeed. That's what I mean when Isay that preaching is good for the preacher.

Read this book carefully, take notes, test its lessons on yourown data. I want this book to help you as much as writing it helpedme.

-Dr. Alexander Elder