Trading for a Living

  • by Alexander Elder
  • Narrated by Richard Davison
  • 2 hrs and 58 mins
  • Abridged Audiobook

Publisher's Summary

A hundred-thousand investors have turned to this best-selling guide for mastering successful trading by Dr. Alexander Elder, a professional trader, a world-classs expert in technical analysis, and a practicing psychiatrist. He believes that successful trading is based on three M's: Mind, Method, and Money. Trading for a Living helps discipline your Mind, shows you the Methods for trading the markets, and show you have to manage Money in your trading accounts. Trading for a Living will help you master:
Individual pyschology: How to become a disciplined trader

Mass psychology: Know when to join the crowd and when to leave it

Classical charting: Identify support and resistance, place stops

The neglected essentials: Read volume, open interest, and time cycles

Psychological indicators: Profit from contrary opinion theory

Trading systems: Learn about the Triple Screen trading system

Risk management: All about stops and profit targets

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Customer Reviews

Most Helpful

A nice book!

When a book on investing starts off with I defected from the Russian Navy by jumping of the ship and heading to the American embassy, I also want to jump ship... but I'm glad that I didn't.

The book goes through the forces that affect the markets. He not only classifies markets as being bullish and bearish he also refers to traders in the same way. As a phycologist I feel that the author certainly does understand the crowd mentality and how it can affect our decisions. He then takes this forward to explain why an individual should not react to changes in the market because they are changing but to view the reasons why they are changing so that one can make a rational decision whether to buy or sell.

As with all of the traders who have written books on this subject, he builds into this book a system that he followed to make himself successful in the stock market. This method in which he uses is similar to that of Peter Lynch who wrote "one up on the Street" and "learn to earn". Both authors concentrate on the day/short term trading. The book itself goes through the ins and outs of what a day trade with actually cost you after you take out the fees and the slippage and gives useful and technical advice on how best to deal with these situations. Then gives information on how he picks the stocks and guidelines on how he then evaluates whether to invest or not.

If you are not interested in Short term trading I would suggest that you look "The New Buffettology" by Mary Buffett or "The intelligent investor" by Graham. Both of this books look at longer investment cycles. So if you just want to invest and not worry about the day to day of the share price then these are the books for you.

All and all this is an interesting read and worth the money. I wouldn't say that it's a reference manual for short term investing but it certainly comes close.
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- Gavin

Rubbish

Whilst I have enjoyed Elders books, this audio book is pointless without charts to view.

Don't waste your money, buy the book
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- Phil

Book Details

  • Release Date: 08-07-2005
  • Publisher: Penton Overseas, Inc.