The New Trading for a Living updates a modern classic, popular worldwide among both private and institutional traders. This revised and expanded edition brings time-tested concepts in gear with today's fast-moving markets, adding new studies and techniques for the modern trader.
This classic guide teaches a calm and disciplined approach to the markets. It emphasizes risk management along with self-management and provides clear rules for both. The New Trading for a Living includes templates for rating stock picks, creating trade plans, and rating your own readiness to trade. It provides the knowledge, perspective, and tools for developing your own effective trading system.
All charts in this book are new and in full color, with clear comments on rules and techniques. The clarity of this book's language, its practical illustrations and generous sharing of the essential skills have made it a model for the industry—often imitated but never duplicated. Both new and experienced traders will appreciate its insights and the calm, systematic approach to modern markets.
The New Trading for a Living will become an even more valuable resource than the author's previous books:
Overcome barriers to success and develop stronger discipline
Identify asymmetrical market zones, where rewards are higher and risks lower
Master money management as you set entries, targets and stops
Use a record-keeping system that will make you into your own teacher
Successful trading is based on knowledge, focus, and discipline. The New Trading for a Living will lift your trading to a higher level by sharing classic wisdom along with modern market tools.
Customer ReviewsSee All
Solid Advice for Thinking Like a Pro
This book does a great job of explaining the mindset of a successful trader and the ways losing traders sabotage themselves. Don't expect much on the stock market because the author is mostly a commodities trader who relies heavily on charts and indicators, but his advice is applicable to any kind of exchange trading.
The audiobook is abridged, but still well worth the five bucks. If you like what you hear, check out the book too. It's no big loss that they cut out so much of Elder's repetitive chapters on technical analysis, but while the audiobook does a good job of covering the psychological and money management advice, less of that should have been trimmed.
The narrator was a little dramatic. His misplaced emphasis sometimes made it sound like he didn't understand his subject. Then again, I was listening to Cramer's latest and he does the same thing with his own book, so I guess being an audiobook narrator is harder than it looks. Keep trying, guys, I'm convinced there's a happy medium somewhere between William Shatner and Ben Stein. But that's a minor quibble, and I really liked this audiobook. It will save you money.
Buy Long at Market.
Elder's books are widely considered among the best on the topic of trading and this one is considered his seminal work. As one of the few books on trading that covers the topic of money management, a topic too thinly covered by more popular books, this one stands out. Providing concrete, yet simple money management formulas, this book could pay for itself on the first trade. The money management formulas referred to here will help your trading more than any technical indicator, website or guru ever will.
Every mistake mentioned in the book I have made. Every "best practice" provided is solid. The audio book should reinforce the hard copy or "boot strap" you into reading the book if this is unfamiliar territory. This is a fantastic book to listen to if you are trading emotionally or without a plan, or for a quick review of the printed material. The audio book should accompany a bound copy, with its graphical charts and more complete coverage of the topics. Go long on this one!
Amazing, top best stock market books of all time!!!
This book has it all. A must buy if you really want to invest.