Trading for a Living: Psychology, Trading Tactics, Money Management

Excellent book for serious traders

I believe this is a must read for everyone who wants to become a serious trader.

Trust Score

1.2

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Overall

one of the best

This is one of the best trading books. It will definitely make you a better traders.

Highly recommended!

Trust Score

1.0

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Book for any market!

"An eminent futures trader explores crucial factors in the markets that most experts overlook--time, volume and open interest--and describes little-known indicators to profitably track them. Covers all the popular technical approaches to futures, options and stock markets including Elliott Wave, oscillators, moving averages, Market Logic, point-and-figure charting. Explains why most traders sabotage themselves and how to avoid doing the same."

-Publisher

I could'nt say it better myself, this was one of the first trading books I read. Recommended by my father as a beginner book.

Trust Score

7.1

User’s Review Ratings

Overall

Forex focused, but some good lessons here.

Much of the content was forex-focused versus stocks, and definitely not in line with trading penny stocks at all. That said, it offered some basic insights and helpful tips, if in a bit dated format (talking about order slips - wow, it's been a long time since 1993).

The author keeps harping about not risking more than 2% of your portfolio, which might be wise for institutional investors, but for a brand new penny stock trader with a tiny account, this is molasses-flow advice. Fact is, you need to be more aggressive with positions if using a smaller account.

Much of what the author suggests such as keeping a trading record, reviewing trades, and having a vibrant community of traders with whom to communicate, is easier than ever with modern trading tools like profit.ly.

In short I think this is a good book with helpful examples but the reader should remember not to be too rigid when heeding the advice therein.

Trust Score

4.1

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Overall

Interesting

Definately a book to begin with...

Trust Score

1.0

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Overall

Trust Score

2.2

User’s Review Ratings

Overall

Trust Score

2.0

User’s Review Ratings

Overall

Trust Score

2.0

User’s Review Ratings

Overall

Wish I had read it years ago

An excellnt starting point for any investor/trader. Detailed informative and well organized. You will leave with a new understadnting of technical analysis and, if you were a fundamental trader before, it will open a new world for you. Highly recommend.

Trust Score

3.6

User’s Review Ratings

Overall

'THE' Best Book on Trading

2 Years ago I became a full-time trader after taking several courses and reading more than 40 books on trading. Dr. Elder's book is the ONLY one that has made me money, a lot of money (603% last year).

The first half of the book deals with the psychology of both the market and the trader. I didn't fully appreciate this portion of Dr. Elder's book until I began trading. This is the biggest obsticle of the trader. His insight has really helped me to understand the movements of the market and myself as a trader.

The second half of 'Trading for a Living' deals with technical analysis and money management. This has proved invaluable to me. There is so much accurate information I've read the book eight times, that's how jam packed it is with useable information. Also, every word matters--no fluff at all--unlike most of the books on trading I've read. And, don't overlook his money management chapter. This is where amatuers fail. His simple money management system will help to elivate you to a professional trader. If you want to make money, this is the book.

Trust Score

5.2

User’s Review Ratings

Overall