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Trading for a Living: Psychology, Trading Tactics, Money Management | [Alexander Elder]

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

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.
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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

    ©1993 Alexander Elder; (P)2000 Penton Overseas, Inc.

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    What Members Say

    Average Customer Rating

    4.0 (365 )
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    4.1 (156 )
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    Story
    4.1 (158 )
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    Performance
    Sort by:
    •  
      Ermilo Capitola, CA, USA 06-23-09
      Ermilo Capitola, CA, USA 06-23-09
      HELPFUL VOTES
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      "Simple and POWERFUL"

      I was hesitant to get this book to be honest. However, after 10 minutes in the listening, I knew I made the correct choice. Here is what makes the book great. Simple non complicated investing rules. They are simple yet good enough even for me, who does option trading. I have listened to this book 3 times over, its that good. If you are new to stocks,futures options...get this book. Even for an advanced option trader, its great!

      9 of 9 people found this review helpful
    •  
      Joseph Gardner, IL, USA 10-22-08
      Joseph Gardner, IL, USA 10-22-08
      HELPFUL VOTES
      18
      ratings
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      2
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      "Read this if you want to know WHY things work."

      This author taps into the motivation and therefore many of the practices of the stock traders who will be your competitors. If you are new to trading, and specifically if you are interested in day trading, this is the best starting point for you. I actually went through this book 3 times so far. As I apply the principles he lays out in the actual market trading, I go back through with a better understanding of what I leaned in this book, I have picked up many nuances that I had missed the first time around.

      13 of 14 people found this review helpful
    •  
      Allan E Schafer 04-01-10 Listener Since 2010
      HELPFUL VOTES
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      "Great Info, I Recommend for Stock Traders"

      Covers some basic but good market psychology. Picked up a few quick pieces of information that are handy too. Easy listening.

      2 of 2 people found this review helpful
    •  
      John Guelph, Ontario, Canada 04-26-09
      John Guelph, Ontario, Canada 04-26-09
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      "Very Entertaining and Enlightening"

      Great book for traders seeking to make the leap from casual part-time trading to professional trading. Covers high-level market psychology through to low-level trading strategies and directives. I Recommend it.

      2 of 2 people found this review helpful
    •  
      Howard_a United States 11-17-13
      Howard_a United States 11-17-13 Member Since 2013
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      "If you plan to trade, listen to this."

      Very delightful book, I've listened to several times. He really explains everything from the basics of the stock market, to how to trade without losing your shirt. He does not explain advanced topics like options, but following his basic rules will help you avoid losing massive sums of money. I'm not a fan of abridged books, but this is an exception. Its a very delightful and informative listen.

      1 of 1 people found this review helpful
    •  
      Geri Burke MELBOURNE, FL, US 05-02-13
      Geri Burke MELBOURNE, FL, US 05-02-13 Member Since 2012
      HELPFUL VOTES
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      "Awesome"
      Would you listen to Trading for a Living again? Why?

      I have listened to Trading for a Living 4 times already, bookmarked many places, and plan on listening to it many more times.


      What did you like best about this story?

      No nonsense guidance.


      Have you listened to any of Alexander Elder’s other performances before? How does this one compare?

      Have not listened to Alexander Elder before this but will in the future.


      1 of 1 people found this review helpful
    •  
      Pang Yan TokyoJapan 02-14-09
      Pang Yan TokyoJapan 02-14-09
      HELPFUL VOTES
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      "Great Listen and easy to understand"

      Dr Elder had a great way of articulation that make the complexity of market psychology manageable to understand. His analogy of bull and bear in the market provide a great view of how market move. The narrator is also very clear and consistent that make it a great listen.

      1 of 1 people found this review helpful
    •  
      Steven saginaw , MI, USA 02-01-09
      Steven saginaw , MI, USA 02-01-09
      HELPFUL VOTES
      2
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      "Very Informative!!!"

      I found this book to be very informative, and offer alot of knowledge that you will need to be a successful trader. I look at the market at a different angle that will help me in my new career choice. One thing the author said that really changed my attitude, he said don't consentrate on the money, but instead work on perfecting your strategies, and the money will follow. Good Stuff! I will relisten over and over again! good for a refresher. Not for complete novices, the terms he uses will confuse you if your not familiar with the market.

      1 of 1 people found this review helpful
    •  
      Ricardo 07-02-15
      Ricardo 07-02-15
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      "Great great audiobook."

      Great insights, and becomes even better with the narrator. Very practical market lessons, mainly about the psychology of the markets.

      0 of 0 people found this review helpful
    •  
      Manuel 05-22-15
      Manuel 05-22-15 Member Since 2015
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      1
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      "short but reality expose"

      short but really good info about your emotions while making those real money trades. Good book to have. everything is 100% truth. good for beginners and cocky wanna be called pros

      0 of 0 people found this review helpful
    Sort by:
    • Gavin
      DublinIreland
      12/4/09
      Overall
      "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.

      6 of 6 people found this review helpful
    • Phil
      Romford, United Kingdom
      2/26/13
      Overall
      "Rubbish"

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

      Don't waste your money, buy the book

      3 of 3 people found this review helpful
    • Paul
      BrisbaneAustralia
      5/31/10
      Overall
      "Good book."

      I enjoyed this book and it gave me some good advise. it reminded me that the Trend is your friend and why this is. Excellent.

      1 of 1 people found this review helpful
    • Marek
      London, United Kingdom
      12/23/12
      Overall
      "Psychological approach"

      I have went through a lot of books on this subject and books by DR Elder are definitely one of the best. Very rational and empirical approach to crowd psychology behind the stock market allow for understanding of the fundamental mechanics on how it operates.



      Definitely not for beginners. I would recommend reading "Come into my trading room" first to get the background knowledge first.

      0 of 0 people found this review helpful

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