Allow me to introduce - Dr. Alexander Elder!

Alexander Elder: A Legendary Figure in the Financial Market

The Forex market is well-acquainted with Alexander Elder. Are you? If not, let's change that right now. Without further delay, let’s dive in and discover the story of this remarkable individual who has significantly influenced the world of trading.

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From Medicine to Financial Heights

Born in the Soviet Union, Alexander Elder demonstrated an early interest in science and analysis. His professional journey began in psychiatry, working as a ship’s doctor and maintaining a private practice. These experiences honed his skills in analyzing human behavior, which later gave him a competitive edge in the financial markets.

In 1974, Elder emigrated to the United States, a land of opportunity and the world’s financial hub. There, he embarked on his trading career. The path to success wasn’t easy—he faced numerous setbacks. After each failure, Elder would return to his medical practice, save up funds, and re-enter the market with renewed determination.

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Early Steps in Trading

In the late 1970s, Elder began actively investing in securities. While his initial success was inconsistent, each setback became a learning opportunity. By analyzing his mistakes, he realized that market success required not only knowledge but also discipline, self-analysis, and a strong grasp of risk management.

Over time, Elder developed a unique approach to trading, rooted in deep psychoanalytic principles. This approach helped him become a successful trader and enabled him to share his insights with others.

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Author and Global Recognition

Elder authored numerous books that became essential reading for traders. His book, “Trading for a Living,” brought him worldwide recognition and was translated into 12 languages. It covers the fundamentals of trading, market psychology, and capital management.

He also founded Financial Trading Seminars, a company dedicated to educating traders. His teachings have inspired thousands of individuals to achieve success in the financial markets.

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The "Triple Screen Trading System"

One of Elder's most significant contributions to trading is his renowned “Triple Screen Trading System.” This methodology uses three timeframes to:

• Identify long-term trends;
• Pinpoint optimal entry points;
• Filter out false signals.

The system incorporates a long-term timeframe to reveal the primary trend, a medium-term timeframe to confirm entries, and a short-term timeframe to fine-tune the timing of trades. This multi-screen approach is highly effective and remains a favorite among traders.

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The Role of Psychology in Trading

Elder believed that psychology is a cornerstone of successful trading. He emphasized the importance of maintaining a trading journal, where traders record all transactions, emotions, observations, and mistakes. This practice allows traders to:

• Understand their strengths and weaknesses;
• Improve their strategies;
• Avoid repeating past errors.

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Elder’s Three Pillars of Trading Success

According to Alexander Elder, trading success rests on three key principles:

1. Individual trader psychology. Mastering emotions and avoiding impulsive decisions are crucial.
2. A logical trading system. Every strategy must be thoroughly planned and tested.
3. Capital management. Never risk all your funds. Manage risks wisely to stay afloat, even during a losing streak.

Elder compared these principles to the legs of a stool: remove one, and the entire structure collapses.

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Why Learn from Elder?

Elder’s methods remain relevant today because they are grounded in timeless principles of analysis and psychology. His books and seminars equip traders with the tools to understand markets, build discipline, and trade with confidence.

If you’re eager to master Elder’s system or other advanced trading strategies, Ronin Academy offers courses where you’ll learn:

• A detailed breakdown of the “Triple Screen Trading System”;
• Practical examples of its application across different markets;
• Tailored guidance on capital management and trading psychology.

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Conclusion

Alexander Elder's story is a testament to how perseverance, knowledge, and discipline lead to success. His methods have stood the test of time because they are based on foundational principles of market analysis and human behavior. Remember, success in trading requires not only the right strategies but also the ability to learn and adapt.

 

Start your journey to success with Ronin Academy today!