| Trading for a Living: Psychology, Trading Tactics, Money Management |  | Author: Alexander Elder
Publisher: Wiley
Category: Book
List Price: $80.00
Buy Used: $19.00
as of 7/31/2010 04:19 CDT details
You Save: $61.00 (76%)
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Seller: brian105
Rating:  215 reviews
Sales Rank: 9,113
Media: Hardcover
Edition: 1
Pages: 289
Number Of Items: 1
Shipping Weight (lbs): 1.3
Dimensions (in): 9.1 x 6.1 x 1
ISBN: 0471592242
Dewey Decimal Number: 332.645
EAN: 9780471592242
ASIN: 0471592242
Publication Date: March 8, 1993
Availability: Usually ships in 1-2 business days
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| Also Available In:
| • | Kindle Edition - Trading for a Living: Psychology, Trading Tactics, Money Management | | • | Digital - Trading for a Living: Psychology, Trading Tactics, Money Management (Wiley Finance) | | • | Audible Audio Edition - Trading for a Living: Psychology, Trading Tactics, Money Management | | • | Audio CD - Trading for a Living: Psychology, Trading Tactics, Money Management (Wiley Audio) | | • | Audio Cassette - Trading for a Living: Psychology, Trading Tactics, Money Management (Wiley Audio) |
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Product Description
Trading for a Living Successful trading is based on three M's: Mind, Method, and Money. Trading for a Living helps you master all of those three areas:- How to become a cool, calm, and collected trader
- How to profit from reading the behavior of the market crowd
- How to use a computer to find good trades
- How to develop a powerful trading system
- How to find the trades with the best odds of success
- How to find entry and exit points, set stops, and take profits
Trading for a Living helps you discipline your Mind, shows you the Methods for trading the markets, and shows you how to manage Money in your trading accounts so that no string of losses can kick you out of the game. To help you profit even more from the ideas in Trading for a Living, look for the companion volume—Study Guide for Trading for a Living. It asks over 200 multiple-choice questions, with answers and 11 rating scales for sharpening your trading skills. For example: Question Markets rise whenthere are more buyers than sellersbuyers are more aggressive than sellerssellers are afraid and demand a premiummore shares or contracts are bought than soldI and IIII and IIIII and IVIII and IVAnswer B. II and III. Every change in price reflects what happens in the battle between bulls and bears. Markets rise when bulls feel more strongly than bears. They rally when buyers are confident and sellers demand a premium for participating in the game that is going against them. There is a buyer and a seller behind every transaction. The number of stocks or futures bought and sold is equal by definition.
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| Customer Reviews:
Showing reviews 1-5 of 215
 Really excellent and clearly written. July 17, 2010
L Panda
Really excellent and clearly written. It's most valid point, to me, was in explaining the underlying motivation behind the technical analysis, which is a better understanding of market psychology and sentiment. The point is that the market is a real-time discussion about how much assets are worth, and so there's a lot of group psychology involved, and technical indicators are simply different ways to cut the price and volume data to figure out what active traders are thinking. As a fundamental analysis person (reading this book on a friend's strong recommendation), it was important for me to understand the rationale behind technical, which I think is valid. How you use the technical stuff and incorporate them into your trading system (a very useful concept from the book) is another matter -- e.g. if you're a value investor, then your market entry/exit and risk management could be via different means than technical. However, it's really interesting to sit back and consider different trading styles and think about how each is really trying to address similar problems, just using different tools to do so. Anyhow, Elder (a trained psychiatrist who presumably, as he says, trades for a living and practices psychiatry on the weekend) describes charts/candlesticks, gives a comprehensive list of well-worn technical indicators, and describes his own trading system. As many reviews point out, people get a lot from reading and re-reading this book.
it is good May 12, 2010
M. Lucas (San Antonio, TX)
0 out of 1 found this review helpful
This book starts by talking about how the stock market works. What causes it to go up and down. It explains how mass psychology works; how people think when they are in groups and how this applies to the stock market. It goes into detail about many investment strategies and how to identify trends and find the best opportunities to buy or to sell. It is very insightful when it talks about money management, it teaches you to have strong discipline over your emotions when trading. It is a good book.
Must Read for All Traders February 25, 2010
E. Krones
2 out of 3 found this review helpful
An absolutely amazing book. If you are a trader and/or interested in becoming a trader then read this book. I ordered this along with Come Into My Trading Room and Entries and Exits also by Dr. Elder. I couldn't lay this book down as I was reading it every free moment I had. After two days I was done and have just moved onto Come Into My Trading Room. I am 100 pages in and it has much of the same content as Trading For a Living. I must say I enjoyed Trading For a Living more. It was easy to read and easy to understand.
I thought I knew a bit about TA, but Elder added a lot to my knowlege. The psychology section was amongst the best in regards to trading psychology. The Tripple Screen System that he uses makes a lot of sense and is also easy to apply.
Get this book!
 Stock Market Info February 17, 2010
Kathleen M. White
0 out of 1 found this review helpful
I found the book to be interesting so much that I went ahead and purchased the study guide also. I have decided to dive into the stock market and see if I can make more money at this with the economy the way it is.
 Garbage! Don't buy this book! January 26, 2010
Pen name
8 out of 20 found this review helpful
I tossed mine in the recycling bin rather than donate it to the library book sale. What a piece of trash this book is. All these old trading maxims and catch phrases are really a lot of hogwash. Save the price of this book and buy a lotto ticket. The risk/reward is better.
I've bought a lot of investment books. This really is the worst. The positive reviews here make me seriously question the legitimacy of amazon book reviews.
Showing reviews 1-5 of 215
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