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

Trading for a Living Psychology Trading Tactics Money Management 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 th

  • Title: Trading for a Living: Psychology, Trading Tactics, Money Management
  • Author: Alexander Elder
  • ISBN: 9780471592242
  • Page: 349
  • Format: Hardcover
  • 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 ExplainsAn 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.

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      Published :2019-01-13T20:30:02+00:00

    One thought on “Trading for a Living: Psychology, Trading Tactics, Money Management”

    1. Best reading order:1) To Trade or Not to Trade (Alexander Elder)2) Two Roads Diverged (Alexander Elder)3) Trading for a Living (Alexander Elder)4) Entries and Exits (Alexander Elder)5) Come Into My Trading Room (Alexander Elder)6) Sell and Sell Short (Alexander Elder)

    2. I don't think this is necessarily a book for beginners. However, it's a book that beginners should read. You will learn that it's all about hard work, and that the folks who sell you systems are selling you fool's gold. (I learnt this the hard way, and then had it demonstrated by my mentor.) You'll also learn exactly why you will fail, and what to do to turn yourself into a successful trader.One of the best and most comprehensive books I've read on trading - and that's saying something. It was e [...]

    3. A difficult read. This book made a lot more sense after I had read a few other books about the stock market and then read this again. Ok, I read this a second time.

    4. It was my second re-read of the Russian version, which includes workbook which amounts to almost half of the volume. Going through exercises was interesting and revealed that areas I thought I knew well were not so good and vice versa.One controversy which bugs me after reading this book is that on one hand Dr. Elder talks about "not trading against a long term trend", i.e. going along with weekly and monthly trends ("first screen"). On the other hand, most of the "strongest technical signals" h [...]

    5. Excelent, MUST READ book for traders.It may not be as extensive as Murphys (considered the bible of AT), but its a bit more complex in some aspects, giving more of the authors particular views on trading, his indicators and strategies.I think it would have been a perfect book if it had more about money management and portfolio management.I enjoyed reading it. Simple and direct style from the author makes it easy to go through.

    6. This gentleman is clearly smart and I gained some good nuggets of wisdom from listening to this on CD. But I am just not wired to try to predict fluctuations in the market based on the statistics of graphed wave lengths of human behavior - I gravitate toward looking at the business's model of performance & intent.

    7. Treat this book like a text book on the psychology behind trading stocks. The author is basing his approach to trading stocks on the thought processes of crowds. It sounds well thought out; but does it really help trade for a profit? Expect to put a lot of time into this one if you really want to learn enough to try it out, even if only on paper.

    8. Fascinating beginning about the psychology of trading and prices. Read the whole first section and last section. The middle portion of the book about technical analysis was a bit too much for me to read in full.

    9. Un libro interesante con todo lo básico del trading, la parte más importante no son el manejo de los indicadores técnicos sino la psicología del trading y el money management. En definitiva, este libro debe estar en la biblioteca de los traders.

    10. This book was published in 1992. The new version just came out last year. Great book for anyone starting out.

    11. This 3 hours audio book is great introduction to trading psychology if you are new to the concepts and probably can learn a few things even if you have experience in this area. The book is about a quarter of a century old but still has great concepts that can be applied to today's market. This is not my first trading psychology book that I have read and still I was introduced to some new aspects. There is the popular believe that trading is a Zero sum game. However, when you pay your commissions [...]

    12. A good intermediate book on trading indicators and systems. Despite being a bit out-of-date in its examples (and lack of modern computer software), the fundamentals remains solid.I recommend skimming through some indicators and only going deeper when the author talks about indicators that are familiar to you. Otherwise, it can be a troublesome reading. Good advices, although way too abstract in my opinion, can be found in the money management chapter.

    13. **Audio book version** an absolutely perfect read for any new Trader. filled with solid tips and techniques to ensure your success and prevent your failure. Should have some good market knowledge and trading sense before reading.

    14. I first read this classic in 1995, when I was more or less holding my own in commodity trading (a dangerous pasttime I eventually gave up because the modest profits I saw did not justify the emotional wringer I was going through every day). I remember being a little annoyed with Elder's way of restating fairly basic points again and again in choppy, repetitious paragraphs. That style is still a problem. At times it seems that he must have dictated his thoughts into a recorder and never took time [...]

    15. Really excellent and clearly written. It's most valid point, to me, was in explaining the underlying motivation behind 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 analy [...]

    16. This is one of the best books for all the beginner level traderse whole book is based on 1) behaviour,2) Basic technical analysis and3) Risk and Money Management.when I was doing MBA, my professor of Technical analysis subject recommended me this book and he said that this book has changed his trading style and also has helped him to focus more on his loss trades.There are many investing and trading psychology and technical analysis books available but there are many things that make this book d [...]

    17. This is a great book. It basically focuses on 3 aspects of trading:(1) psychology (2) Market analysis and trading system(3) money managementof which the concepts are crystallized into 3 Ms (mind, method and money)A good book on psychology and money management and a wonderful brief history on Wall Street ( why are bulls, bears, sheep being used in the trading parlance) and how technical analysis developed into 2 schools of thought.)p/s: (taken from the book):(a) Wall Street is named after a wall [...]

    18. This is the single best book for anyone who either currently invests or wants to start investing in any financial instrument. Elder addresses both the psychology of trading as well as the techniques of trading. He teaches different methods of technical analysis while avoiding fundamental analysis. If you are completely opposed to technical analysis, you can still gain by studying his sections on market psychology and risk management. If you believe that technical analysis attempts to understand [...]

    19. Considered one of the trading bibles for beginning traders - it has taken me a very long time to get around to reading this book. After seeing Dr Elder speak in Singapore last year, I was persuaded to explore his trading ideas further.This book is based on 3 m's - Mind, Method and Money Management. I have a method I am pretty happy with so only skimmed through this section picking out more juicy details but I definitely enjoyed the mind and money management sections. Good book for those in the b [...]

    20. Exceeded my expectations. I was so impressed that I purchased another book of Alexander Elder's."Step into My Trading Room". The focus is on short-term technical trading but it is one of the best books on the subject I have read. And Mr. Elder tells it like it is. It is VERY difficult to be a successful short-term trader. There is a tremendous learning curvede longer due to the requirement to overcome basic human nature and human instincts. I loved the book.I highly recommend.

    21. A review of the audio book edition: A very good book about stock trading that not only gives an insight into the trading process but also a glimpse of psychology that's worth something in its own. It explains how psychology plays an important role in the stock markets and how it affects the traders' decisions which armors the trader with a new weapon in his trading and lets him look beyond the cold world of technical trading. Reading/listening to this book can make you approach your trading with [...]

    22. The best part of this book is the discussion of mass psychology and how it relates to technical analysis. Otherwise, i found the book a bit repetitive. Much of the description of technical analysis tools struck me as shallow. And the sections on Money Management also seemed very basic. But I enjoyed and learned something from the discussions both of individual and mass psychology. And the book was very easy to read.

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