Study Guide for Trading for a Living: Psychology, Trading Tactics, Money Management [Paperback]

Alexander Elder (Author)

Book Description

Series: Getting Started In..... | Publication Date: March 8, 1993

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 trader
* How to profit from reading the behavior of the market crowd
* How to use a computer to find good trades
* How to develop a powerful trading system
* How to find the trades with the best odds of success
* How to find entry and exit points, set stops, and take profits
Trading for a Living helps you discipline your Mind, shows you the Methods for trading the markets, and shows you how to manage Money in your trading accounts so that no string of losses can kick you out of the game. To help you profit even more from the ideas in Trading for a Living, look for the companion volume--Study Guide for Trading for a Living. It asks over 200 multiple-choice questions, with answers and 11 rating scales for sharpening your trading skills. For example: Question Markets rise when
* there are more buyers than sellers
* buyers are more aggressive than sellers
* sellers are afraid and demand a premium
* more shares or contracts are bought than sold

* I and II
* II and III
* II and IV
* III and IV
Answer B. II and III. Every change in price reflects what happens in the battle between bulls and bears. Markets rise when bulls feel more strongly than bears. They rally when buyers are confident and sellers demand a premium for participating in the game that is going against them. There is a buyer and a seller behind every transaction. The number of stocks or futures bought and sold is equal by definition.

Editorial Reviews

From the Publisher

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. Explains why most traders sabotage themselves and how to avoid doing the same.

Product Details

• Paperback: 208 pages
• Publisher: John Wiley & Sons; 1st edition (March 8, 1993)
• Language: English
• ISBN-10: 0471592250
• ISBN-13: 978-0471592259
• Product Dimensions: 9 x 6 x 0.6 inches
• Shipping Weight: 9.6 ounces (View shipping rates and policies)
• Average Customer Review: 4.1 out of 5 stars  See all reviews (10 customer reviews)
• Amazon Best Sellers Rank: #233,725 in Books (See Top 100 in Books)

More About the Author

Alexander Elder, M.D., is a professional trader, based in New York. He is the author of several best-selling books: Trading for a Living, Come into My Trading Room, Entries & Exits, and Sell and Sell Short (all with Study Guides). He also wrote Straying from the Flock: Travels in New Zealand. Dr. Elder taught psychiatry at Columbia University. His experience provides him with unique insight into psychology of trading.

Dr. Elder is a sought-after speaker at conferences and the originator of Traders' Camps - week-long classes for traders. He is the founder and co-director of SpikeTrade - a trading website.

Customer Reviews

Most Helpful Customer Reviews

69 of 71 people found the following review helpful:

5.0 out of 5 stars sharpened my trading tools and exposed my blind spots, October 29, 1998

By A Customer

This review is from: Study Guide for Trading for a Living: Psychology, Trading Tactics, Money Management (Paperback)

Sometimes I read a book and think I understand its author's ideas... but 2 weeks later only vaguely recall what i read. Dr Elder's STUDY GUIDE did a fantastic job of exposing my blind spots. Each of its questions is referenced to a specific chapter in the book. He shows you charts and puts you into trading situations, then asks, what will you do? He tells you not only what answers are correct but why they are correct and why others are wrong! The self-rating scales at the end of each chapter showed me exactly where I stood and what I needed to do next. A great follow-up to TRADING FOR A LIVING!

66 of 72 people found the following review helpful:

5.0 out of 5 stars Time is $$$. Study this book to make $$$ out of your time., April 6, 1999

By 

Scott Gardner "Software developer and consult... (Central IL) - See all my reviews
(REAL NAME)   

This review is from: Study Guide for Trading for a Living: Psychology, Trading Tactics, Money Management (Paperback)

If you've read Magee & Edwards, congratulate yourself (not too much), then READ THIS BOOK! The focus of Trading for a Living is 3-part (as the title suggests): 1. Psychology - individual vs. group; loser vs. winner. 2. Money Management - he who loses less gains more. 3. Indicators and Systems - you may shed tears of joy at Dr. Elder's efficient explanations and abundant analogies to drive each point home. Trading for a Living is a practical, let's get down to it, who, what, when, where, why, and how book. -- One topical group not discussed is Level 2 NASDAQ and Time & Sales analysis. Any suggested readings on this would be greatly appreciated!

44 of 47 people found the following review helpful:

5.0 out of 5 stars One of the best investments on your way to be a good trader, March 23, 1998

By A Customer

This review is from: Study Guide for Trading for a Living: Psychology, Trading Tactics, Money Management (Paperback)

After you done with reading of the Dr. Elder's book "Trading for a Living", please, go through the exercises you'll found in his Study Guide. Without it your work will be incomplete. You'll get a better understanding of the base trading principals that make you investment and trading successful.