June 29

Alexander Elder

Last Updated on 29 June, 2022 by Samuelsson

Alexander Elder

Alexander Elder is an American investor, professional trader, and trader’s coach. He wrote titled, “The New Trading for a Living”, which was regarded as an outstanding book by traders. The book was published in 1993 and has become an international bestseller. It is available in over a dozen languages and has been used as teaching materials for traders around the globe.

Elder’s “Come into My Trading Room: A Complete Guide to Trading” received the 2002 Barron’s Book of the year Award. His “Entry and Exits: Visits to Sixteen Trading Rooms” also received the SFO Magazine Book of the Year Award in 2007. His latest published work is “The New Sell and Short: How to Take Profits, Cut Losses, and Benefit from Price Declines.”

He was born in Leningrad, was raised in Estonia, and went to medical school at 16. At age 23, while working onboard a ship as a doctor, he jumped a Soviet ship en-route Africa and ran to the United States, where he received political asylum. Elder worked as a psychiatrist in New York City and also taught at Columbia University. His experience as a psychiatrist equipped him with an understanding of psychology in the trading process.

He is a full-time trader but still involved in running SpikeTrade.com, a trading club where trading members compete for the best trader of the week.

Dr. Edler developed his strategy, the triple screen trading system, in 1985. The name could be misleading, as it suggests that it involves trading with three screens, but it has nothing to do with that at all. It is not uncommon for Mr. Elder to use medical terminology in his trading.

For example, traders often adopt one indicator, screen, or filter to place their trade. There’s nothing wrong with using a single screen for your trade decision. There’s discipline involved in using just one screen or indicator; this discipline is perhaps the primary determinant for success.

“A loser’s true problem is not account size but overtrading and sloppy money management. He takes risks that are too big for his account size, however small or big. No matter how good his system may be, a streak of bad trades is sure to put him out of business.”

But what if the indicator or the filter used has a fundamental problem? What if the market is not the same as yesterday, last week, last month, and last year and your indicator or screen no longer works for today’s market condition. It implies that even indicators designed by successful traders may not work under some market conditions.

Elder has invented a trading system to solve simple averaging while it takes advantage of both of the best trend-following indicators and oscillator techniques. This system is designed to balance the shortfalls of single indicators simultaneously as it serves to identify the complexity of the market. The triple screen trading system does not apply to only one or two but three unique filters (screens) to every decision made during, combined to form trend-following indicators and oscillators.


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