Entries & Exits: Visits to 16 Trading Rooms

by Alexander Elder

Quick Summary

Dr. Alexander Elder visits the trading rooms of 16 diverse traders from around the world, documenting their methods, setups, entries, exits, and money management approaches. Each chapter presents a trader's background, methodology, and a detailed trade diary with annotated charts, followed by Elder's own analysis and commentary. The book provides an intimate look at how different successful traders think about and execute their craft.

Detailed Summary

"Entries & Exits: Visits to 16 Trading Rooms" by Alexander Elder is a unique work in the trading literature. Rather than presenting a single methodology, Elder travels to visit 16 different traders across the globe, documenting how each approaches the markets. The result is a comparative study of trading methods that reveals both the diversity of successful approaches and the common principles that unite them.

Each chapter follows the same format. Elder introduces the trader, describing their background, how they came to trading, and the evolution of their methodology. The trader then presents a detailed trade diary, walking through specific trades with annotated charts showing entry signals, position management, and exit decisions. Each trade is documented with the actual thought process at the time, not retrospective rationalization. After each trader's presentation, Elder provides his own independent analysis of the same charts, offering an alternative perspective and often identifying additional signals or concerns.

The 16 traders span an extraordinary range: stock traders, futures traders, forex traders, and options traders; day traders and position traders; discretionary and systematic traders; those who use technical analysis exclusively and those who incorporate fundamentals. Some trade from home offices, others from professional trading floors. They come from different countries and cultural backgrounds.

Despite this diversity, common themes emerge. All 16 traders have clearly defined entry and exit criteria. All practice strict risk management. All maintain detailed trading journals. All have experienced significant losing periods and developed the psychological resilience to continue. All emphasize that their current success came only after years of learning, often including devastating early losses.

The book's distinctive contribution is its honesty. By showing actual trades -- including losers -- rather than cherry-picked winners, Elder provides a realistic picture of what trading looks like in practice. The annotated charts serve as excellent training material for developing chart-reading skills.

The format also allows readers to identify which of the 16 approaches resonates most with their own temperament and circumstances, rather than forcing them into a one-size-fits-all methodology.

Note: This PDF is image-heavy with annotated charts, and full text extraction is limited. The core content is visual -- the detailed chart annotations that accompany each trade diary entry.