by Alexander Elder
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| List Price: | $75.00 |
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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 when- there are more buyers than sellers
- buyers are more aggressive than sellers
- sellers are afraid and demand a premium
- more shares or contracts are bought than sold
- I and II
- II and III
- II and IV
- III and IV
Answer 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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Average Customer Review:
1 of 3 people found the following review helpful:
 This is a very useful book. ait contains lot of information that you don't want to miss, 2008-06-17
This is a very good book. There is lots of bright ideas in it. You want to read it many times to take advantage of it completely. After you read this book. Read " What I Learned Losing a Million Dollars"What I Learned Losing a Million Dollars. This is also a great book that you can't afford missing it. You will be able to get prepared for trading successfully after finish reading both books. Best luck trading to everyone.
1 of 1 people found the following review helpful:
Brutally Honest, 2008-06-15
A very good book or tape to listen too if you are new to the stock market. Brutally honest and pulls no punches as he explains that the market is a minus sum game designed to take no prisoners. If you are a novice trader than you will benefit from his sage advice.
1 of 2 people found the following review helpful:
 Largely A Fairy Tale, 2008-05-31
"Trading For A Living" is basically divided in two main parts. Part one is focused on the psychology of the trader. It is pointed out that people come into this endeavor full of irrationalities. And some, even after they're wiped out, remain irrational about trading, and come back to lose all over again; this book states that most traders lose and wash out and this certainly is an understatement.
The second part deals with the technical aspects of trading. Strategies and money management are covered. You won't find the pot of gold here, but it raises a few good critical points that you might develop further with lots of hard work and research. The book is missing the very important topics of win ratio, profit margin and sample size on trading systems. If you want to study and learn technical analysis you better go somewhere else because this book lacks some important details. On the positive side, technical indicators are given ample coverage. This book makes no guarantees to anyone of producing profits. I saw no proof in this book that the author could make a living off of trading.
1 of 1 people found the following review helpful:
 Good Overview, 2008-05-19
This book gives an overview of investing.
3 M's are covered: Mind, Method, Money (management)
Mind: Individual, Mass Psychology of Investing, and Gurus
covered. The part using the analogy of Alcoholics Anonymous
seems unnecessary.
Method: Basically, Technical Analysis. It's covers major
indicators. Author doesn't seem to believe in Elliot Wave
and Fibonacci (not coveered).
Money: Basically, it's saying "don't risk the whole wad" and
buy little by little. I do feel when the opportunity arises, you
can risk more. Otherwise, you may 'play for long time' but when you
get rich, you're already 80.
Not for the absolute beginner unless you also have other
books or mentors to help you.
1 of 1 people found the following review helpful:
Good Book On Trading, 2008-05-01
This was one of the first books I read when I started trading stocks. Dr Elder's background as a psychologist did him good, and the rest of us who are interested in how the markets work and the human psychology behind trading. Those who are curious about stock trading and trading in general should get this book. Elder carefully explained the dynamics of bull and bear participants, how certain technical indicators work and why the market is how it is. Even though I mainly trade forex now, I still refer to this book often.
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