A detailed look at one of the most underestimated aspects of
trading-selling

In 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
  Exits

  Understanding 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.

  Autorentext
  DR. Alexander Elder is a professional trader, a teacher of traders, and a psychiatrist. He is the founder of elder.com and SpikeTrade.comboth of which provide educational services to traders worldwide. Dr. Elder is the author of three bestselling books, Trading for a Living (translated into more than a dozen languages), Come Into My Trading Room (2002 Barron's Book of the Year), and Entries and Exits (2007 SFO Magazine Book of the Year).

  Zusammenfassung
  A detailed look at one of the most underestimated aspects of trading-selling In 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 Exits
  Understanding 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.

  Inhalt

  Introduction xv

  Why Sell? xv

  About the Q&A xvii

  Part One Psychology, Risk Management, & Record-keeping 1

  Chapter 1 On Buying 3

  THE Three Great Divides 3

  One Trader's Toolbox 7

  Chapter 2 Trading Psychology and Risk Management 9

  Your Mind as a Trading Tool 9

  Risk Control 11

  Chapter 3 On Keeping Records 13

  Good Records Lead to Good Trading 13

  Trader's Spreadsheet--basic Accountability 14

  Trading Diary--your Key to Lasting Success 16

  How to Document Your Trading Plan 20

  Margret's Method--put it on the wall 24

  How to Grade Your Performance 24

  Two Types of Trading 26

  Questions 29

  Answers 45

  Part Two How to Sell 57

  Chapter 4 Selling at a Target 61

  Selling at a Moving Average 63

  Selling at Envelopes Or Channels 71

  Selling at Resistance Levels 83

  Chapter 5 Selling on a Stop 95

  The Iron Triangle 97

  Market Or Limit Orders 99

  Hard and Soft Stops 101

  A Bad Place 102

  Reducing Slippage--tighter by a Penny 109

  Nic's Stop--tighter by a Day 110

  When to Use Wider Stops 117

  Moving Stops 120

  A Safezone Stop 123

  Volatility-drop Trailing Stops 124

  Chapter 6 Selling "Engine Noise" 129

  Weakening Momentum 130

  An "engine Noise" Exit From a Short-term Trade 132

  A Discretionary Exit From a Long-term Trade 135

  Selling Before Earnings Reports 139

  The Market Rings a Bell 143

  Trading with the New High-new Low Index 148

  The Decision Tree for Selling 151

  Questions 157

  Answers 183

  Part Three How to Sell Short 203

  Chapter 7 Shorting Stocks 207

  Your First Shorts 211

  The Asymmetry of Tops and Bottoms 214

  Shorting Tops 216

  Shorting Downtrends 221

  Shorting Fundamentals 224

  Finding Stocks to Short 233

  Short Interest 237

  Chapter 8 Shorting Non-Equity Instruments 243

  Shorting Futures 243

  Writing Options 252

  Forex 258

  Questions 265

  Answers 279

  Part Four Lessons of the Bear Market 291

  Chapter 9 Bears Make Money 293

  The Bear Was Beginning to Stir in Its Cave 293

  The Sentiment Indicators Are Early 295

  The Top of the Bull Market 297

  Bearish Divergence at the 2007 Top 299

  The Bubble Pops: Mgm 300

  Shorting a High-flyer 302

  A Bear Market Is a Destroyer of Value 304

  Swinging in and Out of a Major Downtrend 307

  Trading in a Downchannel 308

  Prepared for a Surprise 310

  "Bull Markets Have No Resistance And Bear Markets Have No Support" 312

  For Whom the Bell Tolls Or the Hound Barks Twice 315

  Mr. Buffett Buys Too Soon 317

  May I Pour Some Gasoline on Your Fire? 319

  Keep Shorting on the Way Down 321

  Chapter 10 Groping for a Bottom 325

  This Stock Market Is Not Going Down to Zero 325

  A "double Helix" Gives a Buy Signal 327

  Just in Time for the Party 328

  My Favorite Major Bottom Signal 331

  Selling a Bull 332

  Every Bull Stumbles 335

  A Screaming Short 337

  Conclusion 341

  Handling Profits--the Personal Dividend 342

  The Road Into the Future 343

  References 345

  Acknowledgments 347

  About the Author 349