Rating: 
Summary: For Beginners Only
Review: Elder begins with a chapter on psychology. Mind as he refers to it. In my experience, success in trading has less to do with understanding "the madness of crowds" and more to do with developing discipline. Read Mark Douglas instead.Next, Elder spends a lot of pages giving the reader a rundown of the most common price patterns and technical indicators. Which is fine if you don't know them, but has all but the most neophyte readers skipping over great gobs of the book. Next, Elder trots out his two pet indicators and tells you about them. I have used them and they're about as good as any others that you probably already know about and have already used. In other words, I wouldn't buy the book just to get a peek at them. Lastly, he goes into money management. Elder has said himself that he wishes he had devoted more time to this section. Once again, unless you are a complete beginner, you won't find much meat here either. Elder likes trading off moving averages and looking for divergences in certain indicators. Well, I have been trading a fair number of years and am here to tell you, you can do better than that. Much better. If you're a beginner, try reading Nison and DiNapoli/Boroden. Their material is far more effective and will have a much greater impact on your bottom line.
Rating: 
Summary: 4 1/2 Stars - Very Good Book
Review: This is probably the best book on technical analysis and active trading you can buy. Elder puts the psychological stuff in the first 1/3 of the book which is smart. If you cannot do the psych stuff he tells you to then do not actively invest or trade. Too many little guys jump in and lose everything. If you cannot sell fast and take small losses - stick to index mutual funds. Cutting your losses quickly is the most important rule also trading with the trend. The other sections about technical analysis are also pretty good. Great all around book. Avoid trash from James Cramer, Wade Cook, Suze Orman, 99% of all day trading books etc. Alexander Elder is the real deal. I did not give the book 5 stars because most people think 5 star reviewers are shills. I give Elder 4.5 to 4.75 stars.
Rating: 
Summary: Excellent addition to any serious trader's library
Review: Dr. Elder has written a real winner. He paints a realistic picture of how difficult it is to succeed as a trader, but he also lets you know that success is possible if you follow the right steps. The money management advice he gives is the best I have ever seen from any book in this genre. In a few of my trades, I have allowed myself to risk more than I should have, and I had to pay the price. The lesson I learned was that I should stop trading for a while, go back and analyze what I did and why I did it. Sometimes it takes a stumble or two before you truly understand why Dr. Elder's advice is so profound. His approach to trading won't make you wealthy overnight, but it will help you survive, which is something most traders can't do. The study guide for this book is also very helpful. For example, when you make a trade, do you know what percentage of that trade is being lost to the trading industry? This study guide will help you find the answer, and that answer will probably astonish you.
Rating:
Summary: Really A Must
Review: 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 was published twice in Moscow ... 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
Rating:
Summary: Nothing new for experienced traders
Review: As you can notice, most of the five stars are given by novice traders. There is a reason for that! Most of the book is concise and an easy to understand language. However, from my personal trading experience, a novice would get slaughtered when trying to implement most of the methods before getting it right. Let's start with the 2% rule stop loss on account equity. Nothing wrong with that, but as a novice you would have a heck of a time applying that, especially in the case of whipsaws, trendline blowouts and gap openings. There's also a misconception that the author makes it very clear, and that is towards Elliot Wave Analysis. In my experience, he has no clue on what he is talking about. He is judging before actually learning on the subject. From my experience, Elliot Wave analysis is a powerful tool when combined with bearish candle formations for a swing trade. Sometimes, a bearish candle does not necessarily mean "bearish", but the wave count of Elliot Wave will provide solid confirmation. Same for bullish reversals. As for the harsh criticism on Pretcher, it is my experience that the biggest accomplishments as well as mistakes will come from the markets once you embark on this journey. Pretcher actually puts a tone of sensationalism, but he also provides alternate wave counts. It is up to the trader to embrace into his/her strategy. The technicals tools provided by Elder are nothing new. The book is also not for the short term trader. It is geared towards a core trading plan. If you want to learn about TRADING TACTICS then you would be better off to attend a trading school, or to start with, read Tools and Tactics of the Master Trader, by Capra and Velez. Your momeny would be well spent...
Rating: 
Summary: A healthy dose of realism and experience
Review: I enjoyed this book. I do not trade but have studied it somewhat. I can't vouch for the accuracy of the technical stuff. The writer is an educated man with a sense of humour, and he can write! Others have described the contents, so I won't. If you are thinking of trading, read this book first. Here's a sample: "A good trader watches his capital as carefully as a professional scuba diver watches his air supply". "Markets need a fresh supply of losers just as builders of the ancient pyramids... needed a fresh supply of slaves." "The lion's share [is] pocketed by floor traders and brokers who took a much bigger cut than any casino or racetrack would dare!" "The major economic role of a trader is to support his broker - to help him pay his mortgage and keep his children in private schools." "Odysseus heard the Sirens' song but survived because he could not jump. You ensure your survival as a trader when on a clear day you tie yourself to the mast of a trading plan and money management rules." A healthy dose of realism from an experienced trader to those about to leap into the fray.
Rating:
Summary: one of the best books about trading
Review: 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 no filler. And I want to add that this book is on my top-ten list of trading/investing books.
Rating:
Summary: Very comprehensive book on trading
Review: This was the first trading book I have ever purchased and is a very good reference tool. I respect Elder's experience and his views on the psychology of trading. I would recommend it to any beginner looking to move up into a serious amateur and then a true pro.
Rating:
Summary: Good for market psychology
Review: If you want to learn TA better you move to Murphy and Nison. After you can buy this book but just for reading the chapters regarding market psycholgy (really great!).
Rating:
Summary: For beginner and the intermediate
Review: This is one of the best books - if not the best book - written ever on technical analysis of share/securities. It covers all the aspects, from chart to oscillators, and explained in a way that's very easy to comprehend. I had read many books in regards to technical analysis, but somehow Elder managed to make this book a lot more friendly to read. For example, when the idea of RSI (Relative Strength Index), it also explains what it implies - and do not just leave the reader hanging "in the air". Implications, afterall, are the knowledge that I seek. Enough complements have been written for this book. I will keep this short. Go for it; you won't regret it.
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