Trading for a Living
Trading for a Living by Alexander Elder
Dr. Elder asserts that all traders should learn to short. He shows what to look for at market tops and how to jump onto a downtrend. He explains how to use important indicators of short selling activity, such as the short-interest ratio. A special chapter is dedicated to shorting non-equity instruments, such as futures, options, and forex.
Many beginners approach selling in a vague and indecisive manner. Sell and Sell Short offers traders the essential lessons, rules, and instructions all traders need. This book will help you make the right choices in the markets and put you on the road to trading success.
Dr. Alexander Elder is a trader and a teacher of traders. He is the author of Trading for a Living (a bestseller translated into a dozen languages), Come Into My Trading Room (2002 Barron's Book of the Year), and Entries & Exits (2007 SFO Magazine Book of the Year). Dr. Elder lectures for leading financial institutions worldwide and runs annual Traders' Camps. Many of his own trades are featured in this book.
Superb book which is both highly informative, and also delightful reading. Covers 3 primary skills essential to successful trading: Psychology, market analysis and trading methods, and principles of money management. The coverage of psychology is both from an individual pespective, and from that of the crowd, or majority of market participants. Teaches a new approach to managing your own emotions as a trader, also how to understand and benefit from the crowd psychology of markets. One of Ed Dobson's favorites.
Quoted from the book cover:
Dr. Alexander Elder is a professional trader; a world-class expert in technical analysis, and a practicing psychiatrist. He believes that successful trading is based on three M's: Mind, Method, and Money. First, you will see that the key to winning is inside your Mind. You will find out how to develop discipline and how to avoid the traps of emotional trading. Second, you will learn how to find good trades by using charts, computerized indicators, and other tools. You will discover how to combine several analytic Methods into a pwerful trading system. Finally, you will learn how to manage Money in your trading account. The rules for limiting risks are as vital to a trader as a safety net is to a high-wire walker.
With this book you are on your way to mastering a new way of trading stocks, futures, currencies, and options. Dr. Elder helps you embark on an intense pursuit---Trading for a Living.
Hardcover: 289 pages
Publisher: Wiley; (March 8, 1993)