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Publisher's 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
      1 out of 5 stars
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      1 out of 5 stars

    Missing data in this audible

    There was no full book data in this....very bad experience with audible. I would like if you refund my money back.

    4 people found this helpful

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

    Best book for amateur traders.

    A Must read(listen), for those who have just incurred losses either due to their greed or the fear.

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    Goto for every budding trader

    Without reading this no trader should ever place a real trade. Thank you to Alexander Elder for sharing his knowledge.

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    For whom?

    Good for the people who have basic knowledge of Markets and want to take the trading career to next level.

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    Trading Principles

    Provides some of the best practices and framework to help you understand the art and science of trading.

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    MUST READ !!

    MUST READ!! not beacuse the content is very original...read because it has been written with an objective to put you face to face with the contradictions of the stock exchanges/brokers/regulators and also with your own deamons inside your brain ...your own mind where the battle for trading is planned and either won or lost even before the actual trade takes place on computer screen...nothing very original but everything very emphatic..

    • Overall
      5 out of 5 stars

    good book

    short and crisp. give very thoughtful insight. must read for people in day trading. bes of luck.

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    not only boring but also total waste of time

    explanation is boring and waste of time and money. some sort book need to carry some weight towards the topics but altogether same repeated words without meaning

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    very good book.

    Author explained all a new comer and experienced people face. very good book. Need to hear again and again.

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    Trading /strategies /psychology

    Very nice book giving very good insights about trading, strategies, psychology involved. Enjoyed.. Highly recommended book.

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    • Overall
      5 out of 5 stars
    • 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!

    27 people found this helpful

    • Overall
      4 out of 5 stars
    • 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.

    7 people found this helpful

    • Overall
      5 out of 5 stars
    • 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

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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.

    3 people found this helpful

    • Overall
      4 out of 5 stars
    • 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.

    2 people found this helpful

    • Overall
      5 out of 5 stars
    • 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.

    2 people found this helpful

    • Overall
      4 out of 5 stars
    • 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.

    2 people found this helpful

    • Overall
      4 out of 5 stars
    • 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.

    2 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.

    1 person found this helpful

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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.

    1 person found this helpful

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    • Overall
      4 out of 5 stars
    • Gavin
    • 04-12-09

    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.

    13 people found this helpful

    • Overall
      1 out of 5 stars
    • Phil
    • 26-02-13

    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

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    • Paul
    • 04-10-15

    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

    2 people found this helpful

    • Overall
      5 out of 5 stars
    • Paul E.
    • 31-05-10

    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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    • peter
    • 23-03-21

    excellent

    learned alot,loved it and will definitely have another listen.Btraks down all the rules of dos and don't.

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    • Emile Burris
    • 12-03-21

    Amazing book

    This book was an amazing read and will help me massively with my trading and overall performance in the market

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    • L Madzinga
    • 03-03-21

    NOT like any version of the written book

    I like to listen to audio books whiolst reading the paper copy. This audio is not similar to any of the copies of the book, In chapter one the paragraphs : 5. fantasy versus reality, the brain myth , the undercapitalised myth and autopilot myth are not even in the audio book, There is a section on Market gurus in the written book that I didnt even hear in the audio book. I have both the trading for a living and the new trading for a living.. This audio is rubbish and doesnt even state which version of the book they are reading from and missed sections of the book as if we wouldnt notice. If you like books and reading every section buy the print version. mr elder this audio book is absolutely rubbish.

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    • Anonymous User
    • 06-01-21

    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

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    • Anonymous User
    • 12-11-20

    For lobotomised lobsters

    “Sellers want the highest possible price; buyers want the lowest...”

    “Timely information is priceless”

    Really? I had no idea.

    • Overall
      1 out of 5 stars
    • bemo
    • 09-11-20

    this book is too old

    this book is too old, there are better trading books out there. didn't learn anything new.

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      3 out of 5 stars
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    • Jason Willson
    • 05-08-16

    Reasonable rule reinforcement

    I finished this book feeling a little disappointed. Was I looking for the shortcut to improving my trading? Probably. A point made by the book. It reinforced a number of practical points and good sense rules that you can find elsewhere... Don't expect silver bullets but some practical psychological advice; open mind and reflection required!

    2 people found this helpful

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    • Jayme
    • 20-03-16

    a really good book. i learnt even more after my IP

    a really good book. i learnt even more after my IP course. highy recommend this to anyone. Mindset and emotions

    2 people found this helpful

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      4 out of 5 stars
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    • Anonymous User
    • 02-08-19

    Important sections from the book are missing

    The things I found most poignant in the book didn't make it to the audio.

    1 person found this helpful

    • Overall
      3 out of 5 stars
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    • Ali
    • 22-02-18

    Pretty basic, general suggestions

    The author lists a number of recommendations without scrutinizing them in detail. Things that everybody knows, but its the details and reasoning behind trends and trading and how a trader may reflect to them that is improtant to me.
    In the end of chapter 3, he mentions some books, particularly on Fibonacci numbers, which I liked.

    1 person found this helpful

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      4 out of 5 stars
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    • Anonymous User
    • 03-01-21

    review

    the only problem is sometimes it would been nice to have a picture of the charts or what talking about but a audio can't do that
    apart from that great book .

    • Overall
      2 out of 5 stars
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    • Catherine
    • 29-02-20

    Over Promised

    I thought this book would be helpful to master your emotions while trading. Unfortunately it was of no help.
    I also thought there would be more of the authors story and you could glean insights from his experience. But no.
    The text is very absolute full of “shoulds” and “need to’s” I found this style tiresome and autocratic.
    Its very much aimed at technical traders and ignores the news and other fundamentals.
    I listened to about two thirds waiting for something but then it’s only 3 chapters long. So now I’m in search of a more informative book.

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    • sashko
    • 15-08-17

    Outdated

    Some good ideas in here and some great turns of phrase but overall it's targeted to total beginning traders and makes a lot of outdated points