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Summary

A hundred-thousand investors have turned to this best-selling guide for mastering successful trading by Dr. Alexander Elder, a professional trader, a world-classs expert in technical analysis, and a practicing psychiatrist. He believes that successful trading is based on three M's: Mind, Method, and Money. Trading for a Living helps discipline your Mind, shows you the Methods for trading the markets, and show you have to manage Money in your trading accounts.

Trading for a Living will help you master:

  • Individual pyschology: How to become a disciplined trader
  • Mass psychology: Know when to join the crowd and when to leave it
  • Classical charting: Identify support and resistance, place stops
  • The neglected essentials: Read volume, open interest, and time cycles
  • Psychological indicators: Profit from contrary opinion theory
  • Trading systems: Learn about the Triple Screen trading system
  • Risk management: All about stops and profit targets
  • ©1993 Alexander Elder (P)2000 Penton Overseas, Inc.

    What listeners say about Trading for a Living

    Average customer ratings
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    Reviews - Please select the tabs below to change the source of reviews.

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    • Overall
      4 out of 5 stars

    A nice book!

    When a book on investing starts off with I defected from the Russian Navy by jumping of the ship and heading to the American embassy, I also want to jump ship... but I'm glad that I didn't.

    The book goes through the forces that affect the markets. He not only classifies markets as being bullish and bearish he also refers to traders in the same way. As a phycologist I feel that the author certainly does understand the crowd mentality and how it can affect our decisions. He then takes this forward to explain why an individual should not react to changes in the market because they are changing but to view the reasons why they are changing so that one can make a rational decision whether to buy or sell.

    As with all of the traders who have written books on this subject, he builds into this book a system that he followed to make himself successful in the stock market. This method in which he uses is similar to that of Peter Lynch who wrote "one up on the Street" and "learn to earn". Both authors concentrate on the day/short term trading. The book itself goes through the ins and outs of what a day trade with actually cost you after you take out the fees and the slippage and gives useful and technical advice on how best to deal with these situations. Then gives information on how he picks the stocks and guidelines on how he then evaluates whether to invest or not.

    If you are not interested in Short term trading I would suggest that you look "The New Buffettology" by Mary Buffett or "The intelligent investor" by Graham. Both of this books look at longer investment cycles. So if you just want to invest and not worry about the day to day of the share price then these are the books for you.

    All and all this is an interesting read and worth the money. I wouldn't say that it's a reference manual for short term investing but it certainly comes close.

    14 people found this helpful

    • Overall
      5 out of 5 stars
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      5 out of 5 stars

    So much common sense

    I have read many other books that suggest similar trading ideas however for some reason this really resonates with me

    Well worth (several) reads

    3 people found this helpful

    • Overall
      1 out of 5 stars

    Rubbish

    Whilst I have enjoyed Elders books, this audio book is pointless without charts to view.

    Don't waste your money, buy the book

    10 people found this helpful

    • Overall
      5 out of 5 stars
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      5 out of 5 stars

    Great book. Really opened me eyes

    loved it. I'm alot better now than I was before. especially the parts about risk management and crowd psychology

    2 people found this helpful

    • Overall
      5 out of 5 stars

    Good book.

    I enjoyed this book and it gave me some good advise. it reminded me that the Trend is your friend and why this is. Excellent.

    1 person found this helpful

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    Excelent view of the market

    A very comprehensive analysis of market
    Good explanation of market behaviour
    And a very good trading concept

    • Overall
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      5 out of 5 stars

    A must read for all traders

    changed the way I trade and see trading in general. this has become my go to book anytime I'm struggling with my emotions after a loss. A fantastic guide

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      5 out of 5 stars

    Timeless Wisdom

    Short, sweet and timeless advice.

    If you're struggling to trade, study this material.

    The lessons found in this audiobook are truly the foundations for any successful trading venture. This business is hard. You are not a loser if you don't make it, just part of the 90% statistic.

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    • MC
    • 03-10-21

    Waste of time

    Just another retail boom. Don’t waste your time like I did. Learnt absolutely nothing from this book. For novice traders

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      5 out of 5 stars
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      5 out of 5 stars

    Brilliant

    Very compressed, straight to the point, requires some background (in my opinion), good to refresh what you already know and improve it, and of course learn a LOT of new things.

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    • Overall
      5 out of 5 stars
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    • Ermilo
    • 23-06-09

    Simple and POWERFUL

    I was hesitant to get this book to be honest. However, after 10 minutes in the listening, I knew I made the correct choice. Here is what makes the book great. Simple non complicated investing rules. They are simple yet good enough even for me, who does option trading. I have listened to this book 3 times over, its that good. If you are new to stocks,futures options...get this book. Even for an advanced option trader, its great!

    30 people found this helpful

    • Overall
      4 out of 5 stars
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    • Steven
    • 01-02-09

    Very Informative!!!

    I found this book to be very informative, and offer alot of knowledge that you will need to be a successful trader. I look at the market at a different angle that will help me in my new career choice. One thing the author said that really changed my attitude, he said don't consentrate on the money, but instead work on perfecting your strategies, and the money will follow. Good Stuff! I will relisten over and over again! good for a refresher. Not for complete novices, the terms he uses will confuse you if your not familiar with the market.

    10 people found this helpful

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      5 out of 5 stars
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    • AL
    • 21-09-16

    A Must for ANY Trader!!

    If you have read Reminiscences of a Stock Operator, then this book should be right next to it in your library! Awesome!! Its exactly what you need to understand the markets and the mental side of the game. Wall Street is like no other business in the world. This book is YOUR blueprint.

    4 people found this helpful

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    • Howard_a
    • 17-11-13

    If you plan to trade, listen to this.

    Very delightful book, I've listened to several times. He really explains everything from the basics of the stock market, to how to trade without losing your shirt. He does not explain advanced topics like options, but following his basic rules will help you avoid losing massive sums of money. I'm not a fan of abridged books, but this is an exception. Its a very delightful and informative listen.

    4 people found this helpful

    • Overall
      5 out of 5 stars
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    • Joseph
    • 22-10-08

    Read this if you want to know WHY things work.

    This author taps into the motivation and therefore many of the practices of the stock traders who will be your competitors. If you are new to trading, and specifically if you are interested in day trading, this is the best starting point for you. I actually went through this book 3 times so far. As I apply the principles he lays out in the actual market trading, I go back through with a better understanding of what I leaned in this book, I have picked up many nuances that I had missed the first time around.

    22 people found this helpful

    • Overall
      4 out of 5 stars
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    • Allan E Schafer
    • 01-04-10

    Great Info, I Recommend for Stock Traders

    Covers some basic but good market psychology. Picked up a few quick pieces of information that are handy too. Easy listening.

    3 people found this helpful

    • Overall
      5 out of 5 stars
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    • listener
    • 04-03-10

    great listen - packed with information

    I love listening to this book on trading. It is packed with systems, talk about investment philosophies, and most of all about how to control your emotions. If you want to be a better trader do not pass this book up.

    3 people found this helpful

    • Overall
      4 out of 5 stars
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    • John
    • 26-04-09

    Very Entertaining and Enlightening

    Great book for traders seeking to make the leap from casual part-time trading to professional trading. Covers high-level market psychology through to low-level trading strategies and directives. I Recommend it.

    3 people found this helpful

    • Overall
      4 out of 5 stars
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    • Pang Yan
    • 14-02-09

    Great Listen and easy to understand

    Dr Elder had a great way of articulation that make the complexity of market psychology manageable to understand. His analogy of bull and bear in the market provide a great view of how market move. The narrator is also very clear and consistent that make it a great listen.

    3 people found this helpful

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    • John
    • 18-06-19

    AMAZING BOOK!!!

    Everything he discussed explained why I lost so many trades in my first year! A must listen for anyone that wants to become a good trader.

    2 people found this helpful