Rating: 
Summary: Excellent Book
Review: Dr. Elder's book is excellent. A great book for anyone attempting to get into trading for a living. I read it 2 years ago and am now only making money and sense of Triple Screen Trading. It keeps me in a stock during scary market times and gets me out during negative divergences. I am also more confident buying a stock I am following using Triple Screen Trading signals. Thank you Dr. Elder.
Rating: 
Summary: Dr. Elder's rules of thumb provide little guidance
Review: Like Caesar's Gaul, Dr. Elder's book is divided into three parts. The first part is an exposition on an emotional problem that Dr. Elder had to deal with in order to become an effective trader. This section is the strength of the book. Successful traders who have been at the business for some time agree on one thing: sooner or later, a trader will face his or her own trading-related emotional crisis. The importance of the emotional aspects of trading cannot be overstated. I have heard discussions in which the question was whether emotional aspects were merely the most important aspect or were the only important aspect to trading. Dr. Elder's detailed description of how he found his way through provides guidance for readers whose psyches are similar to Dr. Elder's. Unfortunately, Dr. Elder neglects the fact that his problem is not universal. Other people have different backgrounds, grew up differently and have a different set of problems. Thus understanding Dr. Elder's issues may not solve your problems or even point a useful direction. In the second section the author focuses on an assortment of trading tools. The exposition is short, and he presents each tool as a stand-alone system without disclaimer or enlightenment. Unfortunately, all the tools he presents as systems have been shown to fail as systems. Dr. Elder does a great disservice to the reader by his failure here. The final section is a very lightweight treatment of money management. Most traders will agree that money management, while less critical than managing one's self, is the next most important aspect of trading. Dr. Elder's rules of thumb provide little guidance and no verification. Game theory and statistical analysis make it possible to be precise about money management. For a thorough treatment one should read one or more of Ralph Vince's works, also available through Amazon.
Rating:
Summary: Gets you thinking about how to survive in the markets
Review: In Dr. Elder you have two professions you don't normally think of together -- pschiatrist and stock trader. He clearly describes why markets act the way they do, and, in the process, gets you thinking about your own trading. While he does talk about trading techniques (heavy on the technicals, thus people who like to think of themselves as "value" investors might not like this part), one of the main points he makes is that you can succeed with almost *ANY* trading system, if you know your own weak points and don't get wrapped up emotionally in the market. A coach (perhaps many) once said, "the best way to win is not to lose." Elder gives great food for thought that, primarily, helps you to win by avoiding losing. Whether you're a value trader or a momentum trader, "not losing" is a good idea
Rating:
Summary: Excellent book to master technical analysis and money mngmt.
Review: Mr. Elder explains market psychology, money management and other essentials to stay alive in today's complex markets. An extensive collection of technical analysis indicators are explained and example charts are provided. In short, excellent teacher
Rating: 
Summary: What a trader has to share
Review: Amongst the many books that purport to teach one how to trade and invest, this book comes across as a refreshingly honest and personal account of a trader's experience. Elder presents a lucid explanation of how he understood the markets to be - an interplay of the forces of psychology and greed. His personal approach, though by no means comprehensive and applicable to everyone, illuminates on various aspects of the trader's tools of living, especially his clear and well-argued emphasis on money management. One man's voice, but certainly a voice worth listening to, it at least makes sense
Rating:
Summary: Timeless gem
Review: Aside from psychology and money management, this book is an essential reference about formulas (MACD, WILLIAMS %R, ADX and at least a dozen more). It shows whether such oscillators are trend-indicating or trend-following, whether one should use it within trading ranges or when trading a trend. Most (if not all) of these indicators contain its origins and market psychology, the formula and worksheet / chart examples and how to use it in bullish / bearish markets. This book is ten years old. But it still proves correct in areas that couldn't be forseen back then. Although obtaining and processing all the financial data with appropriate hard- and software was a challenge back in 1993, the book does not spend too much time on such (volatile) details. This is why I consider this book a timeless gem and a true value for any interested trader - giving it a full five star.
Rating:
Summary: technically worthless
Review: I am a professional trader. This book has a good section on psychology but thats it. Totally worthless when it comes to the technical part. In fact I always wondered what made this book so popular with the public. I guess most people read the books but don't use the knowledge in them.
Rating:
Summary: If You Read and Implement this book, You Will Make Money
Review: I'm new to Trading, and have now read over a dozen books.
This is by far the best book I've read on trading.
Dr. Elder outlines early in the book the attributes of a looser, and by evaluating my own character, I could identify some of these attributes, and choose to change.
Thanks to this book I am no longer a looser but a winner.
If you only buy one book on trading, or never read any other book on trading, this is the one to read.
If you read, and implement what Dr Elder reveals, (That does mean analyzing yourself honestly) Then You Will Make Money.
Rating:
Summary: More Losers than Winners
Review: There is much useful information in this book. While Investor's Business Daily suggests you be careful of your entry point, this book has you making trades that could turn out to be risky. For example, buying on an MACD crossover, even though the stock is well below is 50 day moving average. You really need to be careful. If you place tight stop loss orders, maybe 2 percent below your entry, you could rack up a lot of small losses before you hit a really profitable trade. 50 trades (about one per week) losing $200 each amounts to a $10,000 loss. As Dr. Elder points out, there are lots of engineers trying to become traders. Most of them end up broke.
Rating:
Summary: thank you for the book
Review: To Dr. Elder,
I read your Trading for a Living 5th times now, I think, I did not really count. This time I focused more on the last section on money management.
At the first few times when I read this, I read through it but deep down in my mind, I did not buy your idea of the 2 percent rule. It really just doesn't "make sense" for those of us who has a small account.
I am glad after about half a year reading and re-reading your book, and I began to hear you speaking to me whenever I am ready to pick-up the phone and place an order. My equity account is still small, and grown just a little bit, but if you said 20% annually would be called a king of Wall Street, and I think I should be contented with that.
I wish many others would have read your book and re-think or re-learn their trading habits.
Many thanks again.
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