The New Trading for a Living: Psychology, Trading Tactics, Risk Management, and Record-Keeping
- Downloads：6943
- Type：Epub+TxT+PDF+Mobi
- Create Date：2021-05-26 08:55:00
- Update Date：2025-09-07
- Status：finish
- Author：Alexander Elder
- ISBN：1118443926
- Environment：PC/Android/iPhone/iPad/Kindle
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Summary
The best-selling trading book of all time--updated for the new era"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" incudes 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 have been updated and are 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" expands upon the original to become an even more valuable resourceOvercome barriers to success and develop stronger disciplineIdentify asymmetrical market zones， where rewards are higher and risks lowerMaster money management as you set entries， targets and stopsUse 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。
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" incudes 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 have been updated and are 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" expands upon the original to become an even more valuable resourceOvercome barriers to success and develop stronger disciplineIdentify asymmetrical market zones， where rewards are higher and risks lowerMaster money management as you set entries， targets and stopsUse 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。
Reviews
Dotdotok
，
Will need to revisit， novel perspective， loans itself to being very skim-able: lot of repetition， but respects your time。 Nice amount of distilled technical info without being impenetrable。
Amanpreet Singh
，
Comprehensive books covering all important aspects of trading from psychology， technique and risk management。 Good for those who have interest in indicators。 Different type of indicators both leading and lagging explained along with how to use in combination。 Recommend the book for any level of trader。
Z
，
Emphasis on the psychological aspect of trading as well as clearly outlining the significance of how technical analysis is simply behavior analysis- the masses are primitive which reflects in the three dimensions of a chart: price， time and volume。 Many technical tools mentioned。 As per all the profitable traders， the holy grail consists of an edge， discpline （psychology）， and money management; this book explores all aspects。 Yet I still think some of the technical tools discussed are outdated a Emphasis on the psychological aspect of trading as well as clearly outlining the significance of how technical analysis is simply behavior analysis- the masses are primitive which reflects in the three dimensions of a chart: price， time and volume。 Many technical tools mentioned。 As per all the profitable traders， the holy grail consists of an edge， discpline （psychology）， and money management; this book explores all aspects。 Yet I still think some of the technical tools discussed are outdated and have long lost their edge。 。。。more
Brad Bevers
，
I have read more books on investing in the past year and a half then I ever thought I would。 This one was recommended in The Cashflow Quadrant， so I wanted to pick it up。 First， this book is aptly named - it is more about trading than investing。 I have been in the 'value investing' school of book recommendations， and it's jarring to read a book about the stock market that does not even talk about fundamental analysis of companies。 Instead， Elder focuses strictly on technical analysis， although t I have read more books on investing in the past year and a half then I ever thought I would。 This one was recommended in The Cashflow Quadrant， so I wanted to pick it up。 First， this book is aptly named - it is more about trading than investing。 I have been in the 'value investing' school of book recommendations， and it's jarring to read a book about the stock market that does not even talk about fundamental analysis of companies。 Instead， Elder focuses strictly on technical analysis， although to be fair he does argue that the chart shows everything you need to know on fundamental analysis anyways。 If you are wanting to learn how to trade， including day trade， this would be the first book I recommend to you。 It's also great for learning more about technical indicators， like MACD and stochastic divergences。 I used a few of these that I learned about from Rule #1 and have tweaked them after reading this， as well as adding a few more。 His insights into self-psychology， crowd psychology， and risk management are worth the price of the book， even if you ignore the rest。 Learning how to invest following his risk management advice will help you gain a lot of experience quickly with a very acceptable risk based on your account size。 That said， I will only use the technical tools here， most likely， when deciding the best time to exit a trade based on chart analysis。 Worth reading if you are already well versed in value investing or are looking for a good follow up on the technical analysis of Rule #1 by Phil Town。 。。。more
Christian Wibowo
，
just so so
Lương Văn
，
Một tác phẩm cần phải đọc để trang bị hành trang trên con đường trở thành nhà giao dịch thành công
Devrim Peköz
，
It's a good book for beginner traders。 The book contains lots of information which a new trader should know about trading， such as crowd psychology， risk management， stop loss and taking profit， a system for trading。 In my opinion， there is no new information for advanced traders。 I have already known the informations in the book。 The better choice for advanced traders may be the books of John F。 Ehlers in terms of developing indicators。 If you are an electronics engineer you can easily understa It's a good book for beginner traders。 The book contains lots of information which a new trader should know about trading， such as crowd psychology， risk management， stop loss and taking profit， a system for trading。 In my opinion， there is no new information for advanced traders。 I have already known the informations in the book。 The better choice for advanced traders may be the books of John F。 Ehlers in terms of developing indicators。 If you are an electronics engineer you can easily understad Ehlers' formulas。Anyway， Elder's book is also a great book for learning trading。 It should be read by traders at the beginning level。（English is not my native language， sorry for mistakes）。 。。。more
Pranav Pareek
，
Wonderful book。 Process oriented。 Discipline is the key。 Highly recommended for someone who is looking forward to trading。
Swati Vasishta
，
I re-read this book after having traded for a living for a while now， I read it for the first time before I started trading for a living。 I can't think of a better book than this on this topic。 The book covers everything from trading strategies to psychology to journaling techniques， in the most organized format。 Each chapter is quite short and this book can be slowly read over a long period for better assimilation。 I highly recommend this book for anyone considering trading for a living or trad I re-read this book after having traded for a living for a while now， I read it for the first time before I started trading for a living。 I can't think of a better book than this on this topic。 The book covers everything from trading strategies to psychology to journaling techniques， in the most organized format。 Each chapter is quite short and this book can be slowly read over a long period for better assimilation。 I highly recommend this book for anyone considering trading for a living or trading as a serious business， it's the most simplified yet comprehensive trading book ever written。 PS: I have been regularly using the Elder's Index described in the book and is working well for my trading system。 。。。more
ONUR DEMIRKILIC
，
Good book。 Lot's of good ideas and correct perspectives。 Only I feel that Alexander himself is trading in short term movements。 Reader should understand it， and read it based on that concept。 Despite his short term trading style， all of his ideas can be applied to longer term movements as well。 Good book。 Lot's of good ideas and correct perspectives。 Only I feel that Alexander himself is trading in short term movements。 Reader should understand it， and read it based on that concept。 Despite his short term trading style， all of his ideas can be applied to longer term movements as well。 。。。more
Nick
，
Opened my eyes on technical analysis。 This book explains the essential trading elements， including psychology， tactics， risk management， and record keeping， in an easy to understand way。 Strongly recommend。
Sebastian Godoy
，
Very complete trading book， it has essential topics that other books do not cover， like how emotions can affect on your trades。Of course， good strategies too。
Hakan
，
*Trade small sizes while learning。*Do not count money while in a trade。*Use risk management rules， primarily the 2% Rule。*Write down your plans， especially these three numbers: entry， stop， and target。*Keep a trading diary and review it at least once a month。RE-READ！
Stephen Lockett
，
This is a detailed book primarily aimed at short term or day trading from a US perspective。 The book includes in depth narratives on four major aspects the author feels are essential， psychology， tactics， risk management and record-keeping。 Prior to becoming a trader and author Dr。 Alexander was a psychiatrist so his insight into the psychology of the markets comes from a very appropriate perspective。 It is easy to wrongly see the market as an automaton that can be predicted when it is in fact o This is a detailed book primarily aimed at short term or day trading from a US perspective。 The book includes in depth narratives on four major aspects the author feels are essential， psychology， tactics， risk management and record-keeping。 Prior to becoming a trader and author Dr。 Alexander was a psychiatrist so his insight into the psychology of the markets comes from a very appropriate perspective。 It is easy to wrongly see the market as an automaton that can be predicted when it is in fact other human players who you are trying to outmanoeuvre， your task being how to work out how to get money out of their pockets and into yours。 My own interest is long term where a knowledge of the companies invested in and their fundamentals are key and for this One up on Wall Street was more appropriate， but if you are interested in charts， true and fake breakouts， kangaroo tails and the like then this is the book for you。 。。。more
Cintia T
，
Straight to the point！ Very nice。 You may need acomplement from other sources。
Charles Aldridge
，
Such a useful book; an essential
Erkka Ryynänen
，
An excellent book on trading。 I did some swing trading while reading which made the book much more tangible and valuable。
Maire Forsel
，
Võtsin selle raamatu ette kindla kavatsusega päevakauplemine endale selgeks teha。 Raamatu esimene pool läks väga ladusalt， aga millalgi poole raamatu pealt sain aru， et nii lihtne see asi ikka ei ole。 Ilmselt maksimum， mida suudaksin saavutada， on swing-kauplemine。 Ma arvan， et see raamat sobib paremini neile， kes juba mõnda aega börsil tegutsenud ja pigem isegi veidi päevakauplemist proovinud。 Algajale on siin korraga liiga palju infot ja erinevaid teooriaid， nii et seda on keeruline korraga me Võtsin selle raamatu ette kindla kavatsusega päevakauplemine endale selgeks teha。 Raamatu esimene pool läks väga ladusalt， aga millalgi poole raamatu pealt sain aru， et nii lihtne see asi ikka ei ole。 Ilmselt maksimum， mida suudaksin saavutada， on swing-kauplemine。 Ma arvan， et see raamat sobib paremini neile， kes juba mõnda aega börsil tegutsenud ja pigem isegi veidi päevakauplemist proovinud。 Algajale on siin korraga liiga palju infot ja erinevaid teooriaid， nii et seda on keeruline korraga meelde jätta ja arvestada。 Mul ausalt öeldes ajud juba aurasid vahepeal suurest pingutusest。 Raamatus oli ka veidi liiga palju kordusi， mille tõttu kippus lugemine vahepeal natuke tüütuks minema。 Aga jah， mida vähem on esialgu reegleid， millest kinni pidada， seda lihtsam。 Pole vaja korraga kõike seda endale pähe ajada， saab kätt harjutada ka vähematele reeglitele toetudes。Selle raamatu töövihik on mul ka， nii et lähipäevil kavatsen testida， kas oskan teha õigeid valikuid。 。。。more
Mun
，
Lively！
Thamer A
，
Serious about trading？ Must read this ！
Valerian Chiochiu
，
This book is a synthesis of all youtube tutorials and past trading books wisdom combined in one place。 Reading this book will sharpen your mind like a razor。 It covers most important technical and fundamental wisdom that matters to a trader。 Dr Alexander Elder methodology of making money is hyper-logical and time tested。 I wish i can give it more than 5 stars
Praveen Srinivasan
，
Good book for beginners。。。
Narcissa
，
10 stars！！！！If you're going to read only one book about trading， this is the book for you！ And for everyone else who is interested in trading。 10 stars！！！！If you're going to read only one book about trading， this is the book for you！ And for everyone else who is interested in trading。 。。。more
Arun Prakash
，
This is my first book on market， and it turned out to be absolutely enlightening。 Elder has dived deep into many core concepts both technical and psychological in order to play the game of markets seriously and efficiently。 I personally loved the trade journal lessons and the risk/reward setup advice。 It blew me away。For every wannabe trader， this book is a must read。
Eduardo Contreras
，
Aunque el autor expresa mucho las sensaciones que le genera esta práctica。 Me llama demasiado la atención el que sea un tema nuevo， con habilidades y llevarlo a la práctica
Thang
，
- Indicator vs Oscillator- Triple Screen- 2% and 6% rules- Impulse system
Thuan Khanh Nguyen
，
Good book to take your trading to a higher level。The book is well-structured with clear example。 But have many adjective words that new to me :））
m。nima Eslamian
，
اول باید بگم که اگر فکر میکنید که باید همه کتاب های آقای الدر را بخونید سخت در اشتباهید。 با وجود اینکه عناوین متفاوته اما من سه کتاب دیگه ای که از ایشون بودند نگاه کردم همه یکی بودند。 این کتاب هم بهترنشونه و فقط خوندن این کتاب کافیهسیستم های معاملاتی که معرفی کردند شاهکار و واضحه از جمله سیستم سه صفحه ای من خود سیستم سه صفحه ای را دربازار فارکس امتحان کردم، شاید اهداف انچنانی براتون ترسیم نکنه اما اهداف معقول و مطمینی براتون ترسیم میکنه。 مطمینم از استفادش پشیمون نخواهید شد。
masood malek
，
enjoyed reading this book。 it would be very useful for people with few or experience in trading。 although might be useful for experienced trader to re capture some aspects of the game again。 the author explained every topic simply and clearly。my favorite part was the psychological aspect which overlooked in most of the book。 I would recommend it as a good start。
Danny Rodríguez
，