Trading For a Living - Dr Alexander Elder - new hardcover book. Psychology, trading tactics

TRADING FOR A LIVNG

by Dr Alexander Elder

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New hardcover book published by John Wiley & Sons 1993, 288 pages.

You have just taken a big step away from the crowd of amateurs. By opening Trading for a Living, you've resolved to become a successful trader. 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 powerful 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. Alexander Elder helps you embark on an intense pursuit - trading for a living.

• How to become a cool, calm, and collected trader
• How to profit from reading the behavior of the market crowd
• How to use a computer to find good trades
• How to develop a powerful trading system
• How to find the trades with the best odds of success
• How to find entry and exit points, set stops, and take profits

Trading for a Living helps you discipline your Mind, shows you the Methods for trading the markets, and shows you how to manage Money in your trading accounts so that no string of losses can kick you out of the game. A hundred-thousand investors have turned to this bestselling guide for mastering successful trading by Dr. Alexander Elder, 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. Trading for a Living helps discipline your Mind, shows you the Methods for trading the markets, and shows you how to manage Money in your trading accounts.

Trading for a Living will help you master:

- Individual psychology - 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

About the author

Alexander Elder, MD, was born in Leningrad and grew up in Estonia where he entered medical school at the age of 16. At 23, while working as a ship's doctor, he escaped from a Soviet ship in Africa and received political asylum in the U.S.A. He continued to work as a psychiatrist in New York City, served as book editor of The Psychiatric Times, and taught at Columbia University. After becoming involved in financial trading, Dr. Elder published over 50 articles, software, and book reviews, and spoke at many conferences. In 1988 he founded Financial Trading Seminars, Inc., an educational firm for traders.

Dr Elder is a professional stock trader, living in New York. He is the author of Trading for a Living, Come Into My Trading Room and Entries & Exits, best-selling and well known among traders. First published in 1993, these books have been translated into Czech, Chinese, Dutch, French, German, Greek, Japanese, Korean, Polish, Portuguese, and Russian. He also wrote Rubles to Dollars - a book about the transformation of Russia.