Trading for a living by Alexander Elder

Sunday, December 16, 2007
TRADING FOR A LIVING BY DR ALEXANDER ELDER, forex ebooksAnother excellent book for our readers for free!!

"TRADING FOR A LIVING BY DR ALEXANDER ELDER"

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Below is a review of the book!

Dr. Elder is a practicing psychiatrist. He is of Russian origin and today he is well-known in Russia after his Moscow course of lectures on short-term investment in 1996.

The first half of the book focuses simply on psychology. The stock market is in fact just a reflection of the human psychology. As the Dr Alexander Elder points out in this book"Trading for a living" , so many people who are educated think that because they are "school smart" that they must be able to master the financial markets just as well. It's the psychology and the mentality that goes into it. The author likens a typical losing trader (in other words, most traders!) to an alcoholic in denial. Traders are addicted to losing money. They get such a thrill from trading that they don't care if they win or lose.

The second half (Trading for a Living) is the core of the book. It is various trading strategies and technical information. If you're an experienced trader, you'll recognize most of it. The rule is simple: "buy low, sell high" or "short high, cover low". I think the author did an excellent job of covering a wide variety of strategies and trading tools. If you are new to trading, it may confuse the daylights out of you.

This book is a must have for anyone venturing into online trading. Dr. Elder lays out the three essentials of becoming a successful trader: Mind, Method and Money Management.

1. Mind: The psychological aspect of trading. Tells you to observe your own emotions as you trade.

2. Method: Technical analysis. Almost every major indicator is discussed here.

3. Money Management: Gives you some tips on how much to risk.

I have found a lot more detailed information in this book compared to the ones i have read so far. I would rate the book 10/10 if not more than that. It is truely and really a good piece of work . If you don't mind the high price, buy the real version or else download from us for FREE!!!

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The book is really worth it though. You will not be disappointed. I highly recommend it to the traders who look forward to improve the quality of their lives.


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