By Dr Alexander Elder. What you see on the surface is often deceptive, in trading, as well as in life. A trend may appear strong, while below the surface it may be weak and ready to reverse. This book will teach you to use indicators for measuring the internal power of trends. At other times they signal that the trend is suspect: it is better to exit, take profits, and even consider switching from long to short or vice versa.
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Thanks for telling us about the problem. Return to Book Page. Two Roads Diverged: Trading Divergences What you see on the surface is often deceptive, in trading, as well as in life. A trend may appear strong, while below the surface it may be weak and ready to reverse. This book will teach you to use indicators for measuring the internal power of trends. At other times they signal that the trend is suspect: it is better to exit, take profits, and even consider switching from long to short or vice versa.
A divergence is a disagreement between the patterns of indicators and prices. Some traders use these important terms loosely; this book will make them very clear by guiding you through several Reader Exercises. It will show you how to ride price trends with greater confidence and recognize upcoming reversals before they hit the crowd. Elder taught psychiatry at Columbia University.
His experience provides him with unique insight into the psychology of trading. Elder is a sought-after speaker at worldwide conferences. He is a co-director of SpikeTrade, a website for traders.
Get A Copy. Published January 8th by Smashwords Edition first published January 7th More Details Friend Reviews. To see what your friends thought of this book, please sign up. To ask other readers questions about Two Roads Diverged , please sign up. Lists with This Book. Community Reviews.
Showing Average rating 4. Rating details. More filters. Sort order. Aug 06, Ajay Koyimuttal rated it it was amazing. Awesome strategy It works beautifully.. Apr 19, Ebert Mahon rated it it was amazing. Great book on divergences targets Dr Elder gave clear insight into using macd indicators to find the best setups for trading.
These indicators offers traders potential entry points with good risk management. May 05, Pallav Laddha rated it it was amazing. Amazing read! Really loved this book. Some really helpful techniques for the market. If you are a reversal trader this is the book for you. Mazvydas Kerpiskis rated it liked it May 19, Jimmy Erdmier rated it it was amazing Nov 05, Sen - Thaweewoot rated it liked it Aug 03, Qoheleth rated it it was amazing Oct 03, Constance Faulk rated it it was amazing Aug 27, Christopher rated it liked it Dec 05, Chintan Jadav rated it it was ok Oct 17, Howie H.
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Readers also enjoyed. About Alexander Elder. Alexander Elder. Alexander Elder is a professional trader based in New York City. He is the author of a dozen books, including Come into My Trading Room Barron's Book of the Year and Trading for a Living, considered modern classics among traders.
Elder was born in Leningrad and grew up in Estonia, where he entered medical school at the age of At 23, while working as a ship's doctor, he jumped a S Dr.
At 23, while working as a ship's doctor, he jumped a Soviet ship in Africa and received political asylum in the United States. His experience as a psychiatrist provided him with unique insight into the psychology of trading.
Elder's books, articles, and software reviews have established him as one of today's leading experts on trading Dr. Elder is the originator of Traders' Camps week-long classes for traders, as well as the Spike group for traders. He continues to trade and is a sought-after speaker at conferences in the US and abroad.
Books by Alexander Elder. As dedicated readers already know, some of the best and most innovative stories on the shelves come from the constantly evolving realm of young ad Read more Trivia About Two Roads Diverge No trivia or quizzes yet. Welcome back. Just a moment while we sign you in to your Goodreads account.
The Elder Ray Indicator: Definition and Use
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Two Roads Diverged
Alexander Elder cleverly named his first indicator Elder ray because of its function, which is designed to see through the market like an X-ray machine. Developed in , the Elder-ray indicator can be applied to the chart of any security and helps traders determine the strength of competing groups of bulls and bears by gazing under the surface of the markets for data that may not immediately be ascertainable from a superficial glance at prices. Elder-ray indicator or Elder-ray index has two key components bull power and bear power as well as exponential moving averages EMAs , which are trend-following indicators essential to the calculation. Mathematically, bull power is derived by subtracting an exponential moving average perhaps a day EMA of closing prices from a high price of any given security. Bear power subtracts the EMA from the corresponding low price of that trading day. Both bull power and bear power values are plotted as histograms under the bar chart of your chosen security.
Two Roads Diverged: Trading Divergences