Beware Bulls, Leadership Is Shrinking Says Day Trading Expert Elder

The market may be hitting new highs, but bulls should be cautious because the leaders in strength are shrinking, said Dr. Alexander Elder, author of 'The New Trading for a Living'. Elder said that trading stocks for a living takes immense discipline and should be handled as a serious intellectual pursuit as opposed to a quick way to get rich. He said beginners with limited capital should try and show steady gains with few draw-downs over an 18 month period before trying to trade full-time. Finally, Elder said the key to being a successful trader is managing your emotions.