Trade not or Trade 2 percent (North Ogden, Ut United States) May 29, 2003 -...

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

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

Rating: 4.5/5 Stars
Rank: 2298

Trade not or Trade 2 percent
(North Ogden, Ut United States) May 29, 2003 - 5.0/5 stars

Elder makes a good point: experts take money from novices. Its a matter of deciding whether your an expert or a novice.

If your a novice plan on losing alot of money. The expert feeds of the novice. What makes an expert? They are the ones picking the pockets of the novice.

Brokers always win. Slippage kills profits of the novice. Faster trading does not mean more profits. Compulsive behavior destroys the novice chances of survival.

Trading is like bull riding, its brutal, it can kill you financial, and it is unpredictable. It is characterized with sudden gains or drops that shift money from one account to another in a matter of seconds.

Fear and Greed rule the system. Fear creates apprehensiveness and greed creates overconfidence. No system wins evertime: pattern recognition, group watching, technical indicators, or fundamentals.

The rules of engagement don't always make sense. I do like Elder 2 percent concept. Never risk money that can not be made up quick.

Customer Review: 8 of 51

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Customer Reviews

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

Customer Review 7 - 9 of 51


7.	Five Stars Plus!
	(San Francisco) July 28, 2003 - 5.0/5 stars
	This is an awesome book and far more informative than any class I have taken in Business School. Between this book and Technical Analysis (Murphy) traders have all the resources they need. I am most happy with the book... read full review

Current Review
8.	Trade not or Trade 2 percent
	(North Ogden, Ut United States) May 29, 2003 - 5.0/5 stars
	Elder makes a good point: experts take money from novices. Its a matter of deciding whether your an expert or a novice. If your a novice plan on losing alot of money. The expert feeds of the novice. What makes an expert? ... read full review

9.	"A lot of solid information", Financial Advisor says
	(Long Beach, CA United States) April 24, 2003 - 5.0/5 stars
	This books is just the ammo you need when you tell your wife you are going to start managing the retirement fund ;) All kidding aside this is a great book that covers a lot of bases, Psychology, Trading Tactics... read full review

All Customer Reviews(51) | Product Info | Product Listings

Editorials

Sample 3 of 6

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


	From Library Journal
	Soviet-born author and practicing psychiatrist Elder (director, Financial Trading Seminars, Inc.) shares his learning over the years as a professional trader and expert in technical analysis and his principle... read full editorial

	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

	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

All Editorials(6) | Product Info | Product Listings

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