Trading for a Living PDF is a book written by Dr. Alexander Elder and published by John Wiley & Sons. The book was first published in 1993 and has since sold over 500,000 copies worldwide.
The book is considered to be one of the most important works on trading and has been translated into 17 languages. In the book, Elder outlines his 3 M’s approach to trading – Mind, Method, and Money. Elder’s Mind refers to a trader’s psychology, or their ability to control their emotions while trading. Method is a trader’s system or strategy, and Money refers to a trader’s risk management.
The book has been highly acclaimed by many well-known traders and investors, including Jack Schwager, author of the Market Wizards series. If you are interested in learning more about trading, then Trading for a Living is a must-read.
Table of Contents
Trading for a Living Summary
The book starts by discussing the importance of having the proper mindset before venturing into trading. Dr. Alexander Elder states that most people come into trading with the wrong mentality and this causes them to lose money.
The book then goes on to discuss various techniques and strategies that can be employed in order to make a living through trading. These include using technical analysis, fundamental analysis, and risk management.
The book also includes case studies of various successful traders, which can be used as examples to follow. Overall, the book provides a comprehensive guide on how to trade for a living and is a must-read for anyone who is serious about making a career out of trading.
Details of Trading for a Living Book
|Book||Trading for a Living|
|Originally published||March 22, 1993|
|Category||Business & Economics, Finance|
|Publisher||John Wiley & Sons|
Multiple Languages Editions of Trading for a Living Book
Trading for a Living book has been translated into many languages so that people from all around the world can read and benefit from it. The different language editions are as follows:
|Book Editions||Check Now|
About the Author
Dr. Alexander Elder (born August 26, 1933, in Leningrad, USSR) is a professional trader, psychologist, and teacher of traders. He is the author of books on trading psychology and technical analysis, including Trading for a Living: Psychology, Trading Tactics, and Money Management.
Elder was born in Leningrad (now Saint Petersburg), Russia. In 1947, his family was forced to move from Latvia to Siberia following the annexation of the Baltic states by the Soviet Union. And in 1957, he graduated from the medical school of Leningrad University and worked as a psychiatrist in a hospital for several years.
In 1962, Elder emigrated to the United States. He worked as a ship’s doctor on various vessels and eventually settled in New York City, where he ran a successful practice as a psychiatrist.
In the early 1980s, Elder began trading stocks and futures. He soon realized that his background in medicine could be applied to the field of trading, and he began to develop his own system of trading psychology and technical analysis.
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FAQs(Frequently Asked Questions)
What is the book Trading for a Living about?
The book Trading for a Living is about how to make money by trading stocks, bonds, commodities, and other financial instruments.
What are the main themes of Trading for a Living?
The main themes of Trading for a Living are risk management and psychology. The book discusses how to manage risk when trading and how to stay calm and focused when trading.
What are the key takeaways from Trading for a Living?
Some key takeaways from Trading for a Living include always using stop-loss orders, not letting emotions influence trading decisions, and being patient when trading.
What is the main purpose of the author to write Trading for a Living?
The main purpose of the author writing Trading for a Living is to help people learn how to make money by trading.
How long does it take to read Trading for a Living?
It takes about 10 hours to read Trading for a Living.