Rating: 
Summary: Wonderful!
Review: Every now and then someone writes a really good book. This is one of those. It's pricey, but it's worth it.At first blush I thought, what's a psychiatrist doing writing a book about trading stocks and commodities? On second thought, what does a psychiatrist know about the financial markets anyway? Therein lies the genius behind this book. What amateur stock and commodity traders fail to realize is how psychological the whole market is. The biggest enemy of the stock trader is not the market, it's what goes on inside the trader's head. The first few chapters in this book were priceless. It was all about psychology. If you have ever tried investing and lost a lot of your money, he will tell you why. He described my early trading right down to the thoughts that went through my head as I continued to lose on trade after trade. It was eerie. I would say that this book is split into two parts. The first part is pure psychology. That may turn off some people, and that's a shame. 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 all numbers right? Nope. It's psychology. 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. It becomes a game if you will. One where most people lose unfortunately. There's some really good observations in here. It really opened my eyes. The second part of the book, which is really the bulk of the book, is various trading strategies and technical information. If you're an experienced trader, you'll recognize most of it. I got confused with all the scientific explanations having been reared on the "buy low, sell high" and "short high, cover low" school of thought. I think the author did an excellent job of covering a wide variety of strategies and trading tools. If you're new to trading, it may confuse the daylights out of you. If you have some experience trading, this book will be immensely helpful. I found more than a few good nuggets in here. There were a few things that I had suspected and one little known trading strategy that I discovered on my own that were confirmed for me. Sometimes we notice patterns on our own, and it's good to have someone with experience like this confirm it. I even found out they have names for some of these things that happen in the market. Overall, I think this is an excellent book. If you've ever lost money in the market, read this book, especially the first part about the psychology of trading. It answered a lot of questions and cleared up a lot of issues for me. When the market is going down and performing miserably, and you're losing your you know what in the market, those chapters will really help out. Losing in the market is nothing personal. We all fall victim to the same emotional trading issues. One thing should be pointed out. This book switches between talking about stocks and commodities. Keep that in mind if you've never traded commodities but trade stocks. I got confused at times with some of the words until I realized he was talking about commodities and not stocks. I haven't traded commodities in over a year and a half, so some of the terminology slowly came back to me. I'm giving this book five stars because it is that good. I wish they would publish it in paperback like the study guide that goes along with it. If you don't mind the high price, get it. Then again, I spent over twice the price of this book this morning on stock commissions alone, and I trade with one of those ultra low priced discount Internet sites. It's all a matter of putting things in perspective I guess. Get this book. You won't be disappointed.
Rating:
Summary: Must buy for a newbie
Review: This is an excellent book for newbies to technical analysis. I havebought other books like: Technical Analysis Explained, GettingStarting in Technical Analysis, and Magic of Moving Averages and noneof them made much of an impact until I read Trading for a Living.After I read tfal I reread the others and now they make sense to meand have helped me in my trading. The triple screen system isprobably the most popular chapter in the book. However I use it justslightly different than he described in his book with excellentresults. I understand he is in the process of writing another bookbut will be concentrating more on risk and money management than onindicators and technical analysis from what I understand and when itcomes out I will surely get for my library...
Rating:
Summary: Best Short-Term Trading Book in Print!
Review: I have read numerous books on day trading and this is by far the best. Most books just give generalities but Dr. Elder goes into specifics. He shows exactly where to find entry and exit points and where to place your stops. He explains in detail all the indicators and how to construct them. His risk management section is a must if you want to protect your equity. He explains how to trade like a professional, against the market crowds, for maximum profits. Overall, this is a "Bible" for traders. I searched for more books written by him on trading, but realize he's got it all in this book! Great reading!
Rating: 
Summary: A GOOD BOOK BUT NOT THE BEST
Review: Everyone should be given their just due where it is due. There are really some helpful items on psychology and money management. but it is certainly not a trader's dream come true! This is the first time I had seen a book receive so many reviews with almost all been five stars. Is it an election campaign-type strategy? I find the criticism of Jake Bernstein is rather out of place. Everyone has their ups and downs, not just Jake alone. Also the criticism of W.D. Gann may also need some comment. The author claims that his interview with Gann's son was that Gann never made any money. However, we must remember that people do not always tell the general public everything about their personal business. Mr. Gann's family heavily denied that he used astrology in his analysis. However, documentary evidence in Gann's own handwriting proves that he did! Just check the works of Brad Cowan, Jeanne Long, William Mc Laren and others. I have found that the interesting tools in this book such as trendlines, gaps, triangles, flags etc. are not new! Infact, you can get those same tools and their explanations in free booklets produced and distributed by the futures exchanges themselves! The overly beaten indicators such as RSI, Stochastics are criticized by many as "lagging indicators" and are not anything super to now hear about. After all, page 237 tells us "A trader can always find a group of indicators telling him what he wants to hear."
Rating:
Summary: THE ULTIMATE REFERENCE TEXT!
Review: I have read this book three times and have found something new every time. As a matter of fact, I, at this moment, am purchasing my second copy of this text because my first book is now so marked up with my comments and highlights, it is now in unreadable condition; thus necessitating a fresh copy in order to continue mining for new and relevant gems of clear, lucid advice. If you were to purchase just one text on trading in the next year, this is the ONE to buy! Why? Because he touches on all the essentials that is required to become a success at this most difficult of endeavours...
Rating:
Summary: A must have reference for any traders library
Review: Anyone who has a serious interest in trading or any professional trader would not be without this book. It should be your trading "Bible" and within your reach for reference at all times. If you are looking for a dependable trading system (as dependable as systems can be) then the Triple Screen is for you. It will help you to identify solid trades and avoid the straight gambles. I think that Dr. Elder has given us a book that will prove itself invaluable to you over your trading career. His technical analysis discussions are clear and concise, and his examples provide a good framework for understanding. However he is not guaranteeing you success or giving you a "magic formula". Just the relevant information that you will need to make good trading decisions. With his insight into trading psychology, he is trying to help you avoid many of the common mistakes that traders make. If by purchasing this book, and taking to heart what the says, you are able to avoid one bad trading decision, then it will have been worth it to you!
Rating: 
Summary: a solid book, after having traded a bit
Review: This book is very solid, if you want to start thinking for yourself, or are looking to learn from past mistakes, and you want to trade (short horizons), not long-term invest (which is the ultimate goal), this book may prove helpful. It has many anecdotes, and he offers his opinions of the market. He states many facts, which when you read them, they cause you to stop and think. It's not an easy read, nor does he offer quick fixes, or a promise of more money. What he does offer though is knowledge, and explications that can work as tools. You have to take the jump and trade independently for yourself. It was good enough for me to write a review.
Rating:
Summary: Must read!
Review: Awesome book. I have found a lot more detail in this book than in any other I've read so far. Very enlightning.
Rating:
Summary: A MUST for Anyone Serious About Trading for a Living
Review: I am still completely blown away from reading Dr. Elder`s book "Trading for a Living", which is the most straight-forward and insightful book I have ever read in my trading career. A big compliment and many thanks from a now better educated reader! I thoroughly enjoyed the clear, plain, yet descriptive, and consistently logic language. What a well thought-through, structured book which cuts the mystery around the markets and disects the necessary analyses into managable chunks. A MUST for any novice trader before attempting his/her luck - in case this message unfortunately did not get to you in time, also for frustrated losers who finally want to put their trading on a different, i.e. rational level.
Rating:
Summary: Book of Wisdom
Review: Very insightful, ispiring and well-written book. Even the psychology section is practical and to the point -- no fluff, no platitudes. My fears that I was buying more "please lie down on the couch" stuff proved to be totally wrong. The technical analysis and trading methods sections are extremely interesting. Not the first book I've ever read on the subject, but still a wealth of knowledge and insight.
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