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Trading for a Living

Psychology, Trading Tactics, Money Management

By Alexander Elder

(11)

| Hardcover | 9780471592242

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Book 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 traderHow to profit from reading the behavior of the market crowdHow to use a computer to find good trContinue

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 traderHow to profit from reading the behavior of the market crowdHow to use a computer to find good tradesHow to develop a powerful trading systemHow to find the trades with the best odds of successHow to find entry and exit points, set stops, and take profitsTrading 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.

2 Reviews

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  • Good but ...

    The book is organized in three parts, as the subtitle reads: Psychology, Trading Tactics, Money Management.

    While the first part runs too long like one of those self-help books written by psychologists, the second part establishes the principles of technical analysis in trading in a quite didactic ... (continue)

    The book is organized in three parts, as the subtitle reads: Psychology, Trading Tactics, Money Management.

    While the first part runs too long like one of those self-help books written by psychologists, the second part establishes the principles of technical analysis in trading in a quite didactic fashion. This middle part is a bit outdated, as the book was written in 1993 and the times change the markets. The last part about Risk Management is what I liked most, partly because it is concise and clear (unlike the first part of the book, that is too long) and partly because its statements are valid for the present times (unlike some of the chapters in the second part).
    To sum up, the book is worth reading mostly due to the innovative point of view of the trading crowd, psychology tactics and a didactic prism that is reachable for most readers, but would be best with half of the volume.

    Other thoughts: the book is clearly overpriced, at least nowadays. Though I got my hardcover edition for half the price printed in the back cover: $80.

    Is this helpful?

    menosesmas said on Jan 3, 2011 | Add your feedback

  • Chapters in 1,2 and 10 is insightful and give me more rooms to rethink trading.

    Is this helpful?

    Henry said on Sep 8, 2010 | Add your feedback

Book Details

  • Rating:
    (11)
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  • English Books
  • Hardcover 289 Pages
  • Edition: 1
  • ISBN-10: 0471592242
  • ISBN-13: 9780471592242
  • Publisher: Wiley
  • Pub date: Mar 08, 1993
  • Dimensions: 1484 mm x 903 mm x 194 mm Just how big is that?
  • Also available as: Audio CD and Audio Cassette
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Prices Change currency & sellers

ISBN Edition List Sale Seller
9780471592242 Hardcover $80.00 $54.00 bn.com
$80.00 $49.49 The Book Depository
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