Trading for a Living: Psychology, Trading Tactics, Money Management

This is definitely a classic for all time.I wished I had read this book 10 years ago...

This is a great book. Elder covers the psychology of trading and crowd behavior, risk management, and technical analysis. Written for the novice and intermidiate level trader, its all in this book.

This is a very good book. There is lots of bright ideas in it. You want to read it many times to take advantage of it completely. After you read this book. Read " What I Learned Losing a Million Dollars"What I Learned Losing a Million Dollars. This is also a great book that you can't afford missing it. You will be able to get prepared for trading successfully after finish reading both books. Best luck trading to everyone.

A very good book or tape to listen too if you are new to the stock market. Brutally honest and pulls no punches as he explains that the market is a minus sum game designed to take no prisoners. If you are a novice trader than you will benefit from his sage advice.

"Trading For A Living" is basically divided in two main parts. Part one is focused on the psychology of the trader. It is pointed out that people come into this endeavor full of irrationalities. And some, even after they're wiped out, remain irrational about trading, and come back to lose all over again; this book states that most traders lose and wash out and this certainly is an understatement.

The second part deals with the technical aspects of trading. Strategies and money management are covered. You won't find the pot of gold here, but it raises a few good critical points that you might develop further with lots of hard work and research. The book is missing the very important topics of win ratio, profit margin and sample size on trading systems. If you want to study and learn technical analysis you better go somewhere else because this book lacks some important details. On the positive side, technical indicators are given ample coverage. This book makes no guarantees to anyone of producing profits. I saw no proof in this book that the author could make a living off of trading.