Study Guide for Entries and Exits: Visits to 16 Trading Rooms

by Alexander Elder

Note

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Overview

This is the study guide companion to Alexander Elder's Entries and Exits: Visits to Sixteen Trading Rooms. Elder, a psychiatrist-turned-trader and author of the classic Trading for a Living, structured this companion as a self-study workbook.

Structure

The study guide follows the structure of the main book with questions and answers organized into sections: Trading Psychology and Risk Management, Record-Keeping, and detailed Q&A sections covering topics such as the 2% Rule (never risk more than 2% of capital on a single trade), the 6% Rule (stop trading when monthly losses reach 6%), trade diary maintenance, grading system for entries and exits, and the psychological aspects of handling losses and drawdowns.

Key Concepts

The guide reinforces Elder's Triple Screen trading system, his emphasis on discipline and record-keeping, and the lessons learned from visiting 16 different professional trading rooms. Each trader's approach is examined through structured questions that force the reader to internalize the principles rather than passively consume them.