|Alexander Elder, MD, is a professional trader, a world class expert in Technical Analysis, and a practicing psychiatrist. He was born in Leningrad and grew up in Estonia, moving to the USA at the age of 23. |
He believes that successful trading is based on the three M's - Mind, Method and Money. The mind must develop discipline to avoid the traps of emotional trading, while Methods are developed to find winning trades. Thirdly, Money management is crucial to good trading performance. Elder believes that money management to limit risk is a critical safety net for a trader.
He is still practising Psychiatry (his first chosen profession) in the United States, which puts him in a unique position to analyse the performance of traders from a psychological point of view as well as a technical point of view.
In 1988 he founded Financial Trading Seminars, Inc., an education firm for traders.