Rating: 4.5/5 Stars
Rank: 2298

The first half of the book is pure psychology.

The stock market in fact is a reflection of the human psychology. As the author points out, so many people who are educated think that because they are "school smart" that they must be able to master the financial markets just as well.

It's the psychology and the mentality that goes into it. The author likens a typical losing trader (in other words, most traders!) to an alcoholic in denial.

Traders are addicted to losing money. They get such a thrill from trading that they don't care if they win or lose.

The second half (Trading for a Living) is the core of the book.

It is various trading strategies and technical information. If you're an experienced trader, you'll recognize most of it. The rule is simple: "buy low, sell high" or "short high, cover low". I think the author did an excellent job of covering a wide variety of strategies and trading tools.

If you are new to trading, it may confuse the daylights out of you.

This book is a must have for anyone venturing into online trading.

Dr. Elder lays out the three essentials of becoming a successful trader: Mind, Method and Money Management.

1.

Mind: The psychological aspect of trading. Tells you to observe your own emotions as you trade.

2. Method: Technical analysis.

Almost every major indicator is discussed here.

3. Money Management: Gives you some tips on how much to risk.

I have found a lot more detail in this book than in any other I've read so far. It is very enlightning. I give the book five stars. It is really good. If you don't mind the high price, buy it. It pays. You won't be disappointed. I highly recommend it to those traders who wants to improve the quality of their lives.

Alexander Petrochenkov

Customer Reviews

2.	Must Read for Beginners. . .Couldn't hurt advanced traders..
	(Southfield, MI USA) January 20, 2003 - 5.0/5 stars
	Best comprehensive book I've ever read. Especially liked the simplicity with which he describes the technical indicators. I'm and engineer, and never found a simple explanation for the indicators... Until this book.I... read full review
Current Review
3.	Really A Must
	(Moscow, Russia) October 17, 2002 - 5.0/5 stars
	Dr. Elder is a practicing psychiatrist. He is Russian origin and today he is well-known in Russia after his Moscow course of lectures on short-term investment in 1996. This book is translated into Russian and... read full review
4.	one of the best books about trading
	(Missouri) September 17, 2002 - 5.0/5 stars
	This is definitely one of the best books about trading for the levels of the beginning and intermediate trader. If you want a more well-rounded education on trading, start with this one. In it you'll find no fluff and... read full review

Editorials

	From AudioFile
	The author, a psychiatrist, talks about how human nature intersects with the investment world. Narrated with over-the-top gravitas start to finish, the program warns the listener to keep a close eye on emotion and to... read full editorial
	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... read full editorial
	From the Inside Flap
	You have just taken a big step away from the crowd of amateurs. By opening Trading for a Living, you’ve resolved to become a successful trader. Dr. Alexander Elder is a professional trader, a world-class expert... read full editorial

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