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Summary: The bible on psychology of the market.
Review: This book is so full of information on market psychology that can be applied to the stock market or any type of trading market, and has a clear cut understanding about safety issues to minimize loss, how to let your profits run and not following herd mentality. A must for anyone who is serious about trading. The book is more like a text than light reading, but it teaches the fundamentals of becoming a better trader.
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Summary: Finally some inspiring common sense
Review: I guess making a living trading your own account is many people's dream. And for every one that succedes, there is probably a hundred more that, having failed, try to make a living writing about it. I really enjoyed this book. It is down to earth and spells out loud and clear that there is no secret formula out there to turn a risky business into a sure bet. It hurts but it's true. Otherwise, don't you think that with all the capital investment banks have they would have found it? Trust me when I say they haven't. All we've got are some tools and our brain.
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Summary: The Best Book I have read so far...
Review: Trading for a Living is quite comprehensive in terms of basic market psychology and is full of information every trader needs to know. Every page is meat and potatoes, the distilled hard-hitting facts and techniques that you look for to improve your trading. No fluff here, just hard facts and analysis. It is very easy to read and suitable for traders of all levels to read and reread. If you are wondering if this book is worth it, as I was about two weeks ago when I placed my order, I will make it easy for you... Get it, read it, take notes on it, read it again until it is inherently part of your trading style. It is that good.
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Summary: 'THE' Best Book on Trading
Review: 2 Years ago I became a full-time trader after taking several courses and reading more than 40 books on trading. Dr. Elder's book is the ONLY one that has made me money, a lot of money (603% last year). The first half of the book deals with the psychology of both the market and the trader. I didn't fully appreciate this portion of Dr. Elder's book until I began trading. This is the biggest obsticle of the trader. His insight has really helped me to understand the movements of the market and myself as a trader. The second half of 'Trading for a Living' deals with technical analysis and money management. This has proved invaluable to me. There is so much accurate information I've read the book eight times, that's how jam packed it is with useable information. Also, every word matters--no fluff at all--unlike most of the books on trading I've read. And, don't overlook his money management chapter. This is where amatuers fail. His simple money management system will help to elivate you to a professional trader. If you want to make money, this is the book.
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Summary: A really good book about trading
Review: Up till now I have read a lot of books about trading and financial management and Dr. Elders' book belongs to the best. It is very clearly explained and of much practical value. With the books of Tushar Chande, Perry Kaufman, Lebeau & Lucas and Ralph Vince, it deserves 5 stars.
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Summary: Really good and useful!!!!
Review: This book contains nearly all the necessary materials for a beginning trader to start trading. I think the only area which is missing is fundamental analysis. O'Neil's book has better covering of FA but the part about TA is very weak and hard to understand. I feel the TA part is more concise than the John Murphy's book. The later has more than 500 pages but without covering too much about trading psychology. I learned quite a lot about psychology from this book which I am using everyday in my trading. Some of them are also useful for my daily life. Another strong area of this book is it combines the TA indicators to form a trading system. I got the idea to develop my own trading system from it. Although my system is very different from Elder's one, his idea is valid. Among the hundred trading books that I have read, this is still one of my best favorite and I am still reading it from time to time. The price is slightly high, but I recovered the money from my first trade. Really good!!
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Summary: Not a bad book, but some common misconceptions
Review: Dr. Elder has written an ok book here, but he falls into some of the same traps that I have seen in many books on trading that I have read. If I had to boil it down, I would say that the problem is that the writer presents an oxymoron something like this: 1. In order to succeed in trading, you have to find your own way and discover your own methods. 2. Now that you know that, here is MY method. I have seen this time and time again. The writer talks about how no one can be trusted- except him. That every trader must take their own path- or take the writer's, its as good as any you can discover yourself. In my humble opinion the triple screen trading method is a good way to get your nose bloodied by the way. I am also curious about how so many writers present trading as a state of conflict. Elder uses very graphic images as far as how trading is a bloody battle. I think this is not a very helpful way to view trading, and furthermore it is unnecessary. It is hard not to have emotional feelings when you have the mental imagery of being in a battle. I prefer to see trading as a mental exercise, because in truth all it really is is numbers on a screen, and in spite of all the complex garbage out there prices can only do three things: go up, go down or go sideways. Lastly I think Elder is remiss in hammering low commissions to the exclusion of everything else. If you find some lousy discount broker who has rock bottom commissions, guess what- chances are the execution slippage you will get will take ten times more money out of your pocket than paying a few more bucks at a more reputable firm. Call me biased 'cause I'm in the biz, but I've seen it.
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Summary: Merely okay
Review: I got rather little out of this book.... It does not go very deep. It is suprisingly weak on psychological matters, unless you buy into the 12-step-program formula. Worse, the technical analysis seems suspect and much of the material is now out of date (this is no timeless classic like Market Wizards) ... he is certainly an intelligent man -- and this book is far from the worst out there; but there are much, much better books available (see Tharp or Schwager for starters). I read it a year ago and have not had any reason to go back to it since.
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Summary: Excellent book!!
Review: This is definitely a book for the novice, the intermediate and the professional trader.The psychological section of the book is useful more towards the intermediate and the professional trader, whilst the trading tactics section is more designed for the novice and the intermediate trader, and the money management section for all three types of traders. I found this book very helpful throughout my trading career and I would highly recommend that once you have read it not to discard it. You will find it greatly more beneficial to your trading career if you were to read it at least once every 1-2 years of your trading life, because certain areas in the book become highlighted and more readily understood as you mature. The only reason why I gave it the 4 stars was Elder's fairly lack-lustre Money Management section (accounts for about 6% of the book). However if you find you would like to know more about Money Management (which is an integral part of trading) I would highly recommed K. van Tharp's "Trade Your Way To Financial Freedom."
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Summary: Forget this book.
Review: Garbage, don't be lead to believe that you too can predict the future by looking at some lines and charts. Waste of time and money.
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