《best-of-traders-classroom》.pdf

The Best of Trader’s Classroom A collection of the best of the best lessons from Jeffrey Kennedy’s Trader’s Classroom Elliott Wave International © 2009 Dear trader, In 1999, Bob Prechter asked me to edit Monthly Futures Junctures, a brand new service designed to find and recom- mend the best opportunities in commodity markets. I accepted the role and immediately loved it. Like many analysts, I enjoy the challenge of finding the clearest wave patterns among dozens of markets. But I soon found myself needing to scratch another itch—teaching. I began my career as a small trader, so I know firsthand how hard it can be to get simple explanations of meth- ods that consistently work. In more than 15 years as an analyst since my early trading days, I’ve learned many lessons, and I don’t think that they should have to be learned the hard way. That’s why I decided to start writing Trader’s Classroom sections for Monthly Futures Junctures . The response has been great. Now I’m pleased to present to you the very best of the best my Trader’s Classroom lessons. If you enjoy the following lessons, there are plenty more where these came from. Dozens of other valuable lessons ap- pear in The Trader’s Classroom Collection of eBooks. What’s more, I have many lessons left to teach, and I offer new Trader’s Classroom lessons in each issue of Monthly Futures Junctures. You can learn more about these products and services by following these links: Trader’s Classroom Collection: /wave/classroombooks Futures Junctures Service: /wave/fjstore Welcome to The Best of Trader’s Classroom, Jeffrey Kennedy Senior Commodity Analyst Elliott Wave International Contents 1 Why Do Traders Fail? 3 The Three Phases of a Trader’s Education: Psychology, Money Management, Method 4 How To Make Yourself a Better Trader Define Yourself: What Kind of Trader Are You? Why Emotional Discipline