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

This book is easy to read with focus on the mindset a trader must have to avoid being driven by emotions when making decisions. I find it helpful, however I think it could have been explained in half of the space used.
The explanation of the tools is very complete and detailed.

Extremely useful information for stock traders. Only downside is the needlessly dramatic narration - he sounds like a cop from Hawaii-5-0, or Mr Bookman from Seinfeld!

Overall it is a very interesting book giving a wide overview on how to trade and how to interpret oscillators. Personally i appreciated most the way the trends are described, with the role of mass psycology intervening almost everywhere. It helps to undertsand that a trend is not only a quantitative issue but mainly a mood theme, so helping to identify the beginning of he trend or its fading. Also brilliant the aspect of money management, which is short but very effective.

I wish I had bought the book. The CD book was more like an outline with concepts and bullet points. It didn't drill deep enough in most cases. It would be good for a beginnng trader. But intermediate and advanced would be disappointed. I would skip this and get Elder's other book (not on CD) called Come Into My Trading Room. It is one of the best books I have read on trading.

This is an excellent primer on becoming a successful trader. The author covers all of the key elements necessary to master the markets. Included is a powerful discussion on the importance of developing a disciplined mind.

In order to succeed, even with the best of trading methods, while "in the heat of battle", a successful trader must always maintain the discipline to act and act quickly and firmly in accordance with his trading rules and trading plan. Money management is covered in detail. The author puts forth the case as well as anyone can on the importance of adhering to sound, time tested, money management principles so that a series of losing trades will not knock you out of the game. Again, the best of trading methods will fail without money management.

The author then reviews several well known trading methods highlighting the strengths and weaknesses of each and encourages the reader to be original in thinking through and developing their own trading methods. Also, included are some of Mr. Elder's proprietary indicators and how these can enhance anyone's trading plan.