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Step by Step Trading: The Essentials of Computerized Technical Trading

Penned By Alexander Elder
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Step by Step Trading: The Essentials of Computerized Technical Trading

Penned By Alexander Elder
4.85 95,610 Ratings
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Editor's Note:
This brief book will teach you the essentials of computerized technical trading. It will introduce you to self-organization and risk management, but zoom into technical trading tools. We’ll cover indicators, several trading systems, setting profit targets and stops, and much more.What’s unique about this book is that all of its charts, tools, indicators, and systems have been programmed and are waiting for you at www.Stockcharts.com. If you have different software, you can still use this book because its concepts are universal.DO NOT buy this book if you are a paid-up member of StockCharts – they will give this book to you. If, on the other hand, you’re looking for trading software or have another package you like, this book is definitely for you.Most beginners jump into trading unprepared. They remind me of new skiers who hop into a gondola and ride to the top of the mountain without a clue how to ski down its slopes. Even if you already have some experience, you’ll find much that is useful and surprising in this book. On the other hand, if you’re already a professional trader, this may be too basic for you, and I’d refer you instead to my main book, The New Trading for a Living.My goal in writing this book was to help you avoid common pitfalls and master the key principles that will serve you for the rest of your trading life. Thanks to StockCharts.com, you’ll be able to start using my templates and tools without delay.CONTENTSFree updates and the honor codeINTRODUCTIONMarkets are toughTwo steps that will put you ahead of the crowdHow this book is organizedHow to control riskGood records make good tradersTECHNICAL ANALYSISChoosing software (Why StockCharts)Let’s create a chart (actually, two charts)Dressing a naked a pair of moving averagesProfits from manic-depression (using envelopes)The power of bulls and bears (MACD indicator)May the force be with you (Force Index)Less is more (other indicators)TRADING SYSTEMSThe trades to avoid (the Impulse system)Every trade deserves a name (the system you trade)Buying pullbacks in an uptrendCatching reversals (false breakout with a divergence)An end-of-day trend-following system (by Kerry Lovvorn)Trading with fundamentals and technicals (by Philip Wu)TRADE MANAGEMENTThe sweet spot (what timeframe will you trade?)Stops, targets, and risk controlYour visual diaryThe road aheadSourcesAcknowledgmentsDr. Alexander Elder is a professional trader and a teacher of traders. He is the author of 14 books, including The New Trading for a Living and Come into My Trading Room (Barron’s 2002 Book of the Year), considered modern classics among traders. Dr. Elder is the founder of SpikeTrade whose members compete for best stock picks each week. He is an active trader and a sought-after speaker at conferences in the US and abroad.

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Released March 30, 2015
Identifier (ISBN) 25329456
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Alexander Elder
The Mind Behind the Work
Alexander Elder

Alexander Elder writes contemporary fiction and has always been fascinated by character-driven stories. They hold a degree in English Literature and previously worked as an editor before transitioning to writing their own books. Alexander Elder lives with their spouse and a very vocal rescue cat.

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Barbara Sanchez
Barbara Sanchez November 12, 2024
"I thoroughly enjoyed the elegance of it. The protagonist was compelling, though some subplots felt slightly overshadowed. Quite impressive overall."
Gary Smith
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"A profoundly satisfying read. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading."
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Susan Rivera
Susan Rivera August 15, 2024
"Exceeded all my expectations. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars."
Richard Rivera
Richard Rivera August 24, 2025
"Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars."
Sandra King
Sandra King October 06, 2024
"I find myself somewhat conflicted. Certain acts were fascinating, while others felt like a slight endeavor to complete. Unlikely to reread, but a reasonable expenditure of time."
Stephanie Martinez
Stephanie Martinez September 20, 2025
"Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre."
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"Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem."
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Richard Scott April 13, 2025
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Eric Mitchell
Eric Mitchell June 09, 2024
"Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall."
Brian Hill
Brian Hill February 16, 2024
"A profoundly satisfying read. The prose is exquisite. It’s accessible yet undeniably sophisticated. Worth every moment spent reading."
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Edward Hill October 26, 2024
"Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars."
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Donna Sanchez June 07, 2025
"A decent, if standard, experience. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Suitable if your reading queue is empty."
Dorothy Wright
Dorothy Wright June 27, 2025
"Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. Worth every moment spent reading."
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Kenneth Edwards April 09, 2025
"A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading."
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"Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An absolute must-read for connoisseurs of the genre."
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"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
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"Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem."
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George Rivera
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"A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. I would highly recommend this to discerning readers."
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"Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece."
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"A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me."
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"Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
Nancy Flores
Nancy Flores August 24, 2025
"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem."
Emily Phillips
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"Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading."
Mary Nguyen
Mary Nguyen June 10, 2024
"I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. A wonderful companion for a quiet weekend."
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"A very strong entry. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. Quite impressive overall."
Robert Jones
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"I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece."
Emily Campbell
Emily Campbell February 19, 2024
"Absolutely brilliant. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading."
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"I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
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"A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre."
Joseph Roberts
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"Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre."
Mark Rivera
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"A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece."
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"I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. Quite impressive overall."
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"Absolutely brilliant. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
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George King
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"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre."
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"Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars."
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"A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece."
Kevin Wilson
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"Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars."
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"A very strong entry. A brilliant concept executed with flair. Just a few pacing choices I would change. A solid 4 stars from me."
Eric Young
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Michael Edwards
Michael Edwards June 20, 2025
"A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend."
Gary Harris
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"Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre."
Jessica Baker
Jessica Baker April 11, 2024
"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece."
Matthew Jackson
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"Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers."
Cynthia Carter
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"A very strong entry. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me."
Paul Jones
Paul Jones December 12, 2024
"I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre."
Laura Johnson
Laura Johnson July 05, 2024
"I thoroughly enjoyed the elegance of it. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel."
Sharon Reyes
Sharon Reyes November 01, 2024
"Took a moment to build, but the payoff was spectacular. The protagonist was compelling, though some subplots felt slightly overshadowed. Quite impressive overall."
Sandra Nelson
Sandra Nelson October 27, 2024
"I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend."
Ryan Gonzalez
Ryan Gonzalez September 25, 2025
"An acceptable diversion. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Suitable if your reading queue is empty."
Emily Collins
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"A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend."
Andrew Nguyen
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"Excellent, though slightly flawed. The protagonist was compelling, though some subplots felt slightly overshadowed. A wonderful companion for a quiet weekend."
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Rebecca Hernandez August 23, 2024
"Took a moment to build, but the payoff was spectacular. It held my rapt attention, even when certain twists were telegraphed. Quite impressive overall."
Christopher Roberts
Christopher Roberts October 22, 2024
"I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author."
Kimberly Moore
Kimberly Moore October 30, 2024
"Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars."
William Moore
William Moore April 20, 2024
"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
Michael Jones
Michael Jones February 05, 2024
"A highly sophisticated read. A brilliant concept executed with flair. Just a few pacing choices I would change. A very distinguished novel."
Laura Anderson
Laura Anderson August 31, 2025
"Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
Elizabeth Diaz
Elizabeth Diaz September 18, 2024
"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece."
Dorothy Wright
Dorothy Wright February 06, 2025
"A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece."
Eric Mitchell
Eric Mitchell November 07, 2025
"A highly sophisticated read. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend."
Michelle Gonzalez
Michelle Gonzalez October 07, 2025
"I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. I would highly recommend this to discerning readers."
Amanda Evans
Amanda Evans August 20, 2024
"I find myself somewhat conflicted. It verged on repetitive in the second act. A more concise edit would have served it well. Suitable if your reading queue is empty."
Laura Anderson
Laura Anderson September 20, 2024
"I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading."
Jennifer Nguyen
Jennifer Nguyen October 13, 2025
"Not entirely to my refined tastes. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Suitable if your reading queue is empty."
Paul Brown
Paul Brown November 15, 2024
"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
Karen Jackson
Karen Jackson March 09, 2025
"I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading."
Kevin Ramirez
Kevin Ramirez October 08, 2024
"A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem."
Jennifer Edwards
Jennifer Edwards April 15, 2024
"Honestly one of the most premium reading experiences lately. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece."
Michelle Roberts
Michelle Roberts April 06, 2025
"I find myself somewhat conflicted. It verged on repetitive in the second act. A more concise edit would have served it well. Perfectly average."
Patricia Thompson
Patricia Thompson May 11, 2024
"Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. A solid 4 stars from me."
Barbara Lee
Barbara Lee October 07, 2024
"Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece."
Mary Campbell
Mary Campbell October 11, 2024
"Not entirely to my refined tastes. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Perfectly average."
Jacob Gomez
Jacob Gomez November 03, 2024
"Exceeded all my expectations. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
Michelle Gonzalez
Michelle Gonzalez March 13, 2024
"I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars."
Nancy Nguyen
Nancy Nguyen July 02, 2025
"It was adequate. Certain acts were fascinating, while others felt like a slight endeavor to complete. Perfectly average."
Richard Scott
Richard Scott September 19, 2024
"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars."
Rebecca Hernandez
Rebecca Hernandez February 01, 2025
"Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
Richard Baker
Richard Baker October 17, 2024
"A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading."
Donna  Davis
Donna Davis May 20, 2025
"A highly sophisticated read. The middle had a deliberate pace, but the climax was phenomenal. A solid 4 stars from me."
Jennifer Mitchell
Jennifer Mitchell October 04, 2024
"Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An absolute must-read for connoisseurs of the genre."
Thomas White
Thomas White May 20, 2024
"Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre."
Laura Lewis
Laura Lewis November 07, 2025
"A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece."
Joseph Roberts
Joseph Roberts April 13, 2025
"Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars."
Kenneth Gonzalez
Kenneth Gonzalez October 24, 2025
"Not entirely to my refined tastes. Certain acts were fascinating, while others felt like a slight endeavor to complete. Suitable if your reading queue is empty."
Laura Campbell
Laura Campbell May 31, 2024
"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading."
Laura Cruz
Laura Cruz November 04, 2024
"Exceeded all my expectations. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
Paul Campbell
Paul Campbell February 03, 2025
"Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars."
Lisa Nguyen
Lisa Nguyen April 17, 2024
"I was completely blown away. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author."
Robert Harris
Robert Harris June 10, 2025
"Exceeded all my expectations. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author."
Susan Wright
Susan Wright July 28, 2024
"I was completely blown away. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author."
Anthony Taylor
Anthony Taylor November 06, 2024
"A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. A wonderful companion for a quiet weekend."
Sandra Ramirez
Sandra Ramirez February 15, 2025
"Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author."
George King
George King April 16, 2024
"Excellent, though slightly flawed. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend."
Stephanie Nelson
Stephanie Nelson July 06, 2025
"Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. Worth every moment spent reading."
Jennifer Sanchez
Jennifer Sanchez March 03, 2025
"A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author."
Daniel Jones
Daniel Jones August 14, 2024
"A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend."
Kimberly Moore
Kimberly Moore March 16, 2024
"It was adequate. The prose was competent, yet the characters lacked the depth I usually seek. Unlikely to reread, but a reasonable expenditure of time."
Paul Wilson
Paul Wilson January 13, 2024
"A decent, if standard, experience. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Unlikely to reread, but a reasonable expenditure of time."
Joshua Miller
Joshua Miller January 25, 2024
"Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author."
Matthew Perez
Matthew Perez June 04, 2024
"Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem."
Mark Rivera
Mark Rivera October 16, 2025
"Not entirely to my refined tastes. The prose was competent, yet the characters lacked the depth I usually seek. Perfectly average."
Steven Wright
Steven Wright June 21, 2025
"Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece."
Ashley Williams
Ashley Williams March 26, 2024
"Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author."
Sarah Nelson
Sarah Nelson August 28, 2024
"Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece."
George Smith
George Smith June 20, 2024
"Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading."
Stephanie Lewis
Stephanie Lewis January 23, 2025
"Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel."
Mark Gomez
Mark Gomez April 01, 2024
"Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars."
Amanda Hernandez
Amanda Hernandez June 06, 2024
"I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre."
Steven Jones
Steven Jones November 28, 2025
"Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author."
Eric Baker
Eric Baker January 04, 2025
"A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. I would highly recommend this to discerning readers."
Richard Scott
Richard Scott December 16, 2024
"Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author."
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