- Hardcover: 289 pages
- Publisher: Wiley; 1 edition (March 8, 1993)
- Language: English
- ISBN-10: 0471592242
- ISBN-13: 978-0471592242
- Product Dimensions: 6.3 x 1.2 x 9.1 inches
- Shipping Weight: 1.1 pounds (View shipping rates and policies)
- Average Customer Review: 247 customer reviews
- Amazon Best Sellers Rank: #116,523 in Books (See Top 100 in Books)
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Trading for a Living: Psychology, Trading Tactics, Money Management 1st Edition
Use the Amazon App to scan ISBNs and compare prices.
Fulfillment by Amazon (FBA) is a service we offer sellers that lets them store their products in Amazon's fulfillment centers, and we directly pack, ship, and provide customer service for these products. Something we hope you'll especially enjoy: FBA items qualify for FREE Shipping and Amazon Prime.
If you're a seller, Fulfillment by Amazon can help you increase your sales. We invite you to learn more about Fulfillment by Amazon .
There is a newer edition of this item:
"Rebound" by Kwame Alexander
Don't miss best-selling author Kwame Alexander's "Rebound," a new companion novel to his Newbery Award-winner, "The Crossover," illustrated with striking graphic novel panels. Learn more
Frequently bought together
Customers who bought this item also bought
Customers who viewed this item also viewed
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 of understanding the three Ms (Mind, Method, Money), which will strengthen the discipline required to be successful in trading. He explores crucial factors in the markets that most experts overlook, including time, volume, and open interest, and describes little-known indicators to track them profitably. In addition, he covers many of the more technical approaches to investing in futures, such as factoring in the meaning from the Elliott Wave, oscillators, moving averages, Market Logic, and point-and-figure charting. His unique viewpoints in this overly saturated genre explain his particular view that most traders sabotage themselves, while offering tips for others to avoid doing the same. The narration by Richard Davidson soundly guides the listener through this highly specialized work that, although first published seven years ago, remains recommended for university libraries supporting a finance and business curriculum.DDale Farris, Groves, TX
Copyright 2001 Reed Business Information, Inc. --This text refers to the Audio CD edition.
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.
Top customer reviews
There was a problem filtering reviews right now. Please try again later.
Dr. Elder also points out the fallacy of Gurus. Gurus don't make a living from trading - they make their living from selling their courses and training. One of the most famous Guru was Gann. Gann was nothing but a scammer. We all grew up hearing about the myth of Gann and how he was this amazing trader making millions, and people are still trying to promote Gann as legit so they can sell their own books and courses around Gann's supposed effective methods. Gann was a fraud, and Dr. Elder didn't just analyze his methods and make his own conclusions about Gann. Dr. Elder went to the source and interviewed Gann's son, and Gann's own son verified his father couldn't trade and made all of his money from selling his courses and self promoting himself as a great trader. We should all be grateful for Dr. Elder for exposing this fraud. Gann fan lines are nothing but made up silly fantasy lines.
It just doesn't get more advanced than Dr. Elder. Some people say this book is for beginners, yet they can't come up with an author more advanced. Buy this book, read it, learn it, trade, then read it again and you will start seeing things you didn't see before. Great book.
The first section of this book teaches you the psychology of successful trading:
1). You must be committed to being a trader for the long haul.
2). Learn all that you can, but be skeptical, go with what works.
3). Develop a method for analyzing the market.
4). Develop a money management plan.
5). Do not get greedy and rush trades.
6). Understand that you can be your own worst enemy through greed, fear, and emotions.
7).You must change to be a winner.
He introduces his own trading tactic of "Elder-ray" and also force index, triple screen,parabolic, and channel trading.
In the Risk Management section he covers the most important strategy of when to exit? He suggests setting a stop-loss on every trade at it's past days low and if it ticks up to reset a protect profit stop at 50% of your paper profit.
He also suggests never risking more than 2% of your account on any one trade, and never losing more than 6-8% of your account in any one month.
He makes a great point that all true professionals in any field do not count there money daily. Traders should focus on their trading not their daily paper profits.
Buy this book, you will profit from it, whether you are a beginner or an advanced trader, it will make you more professional and logical.