The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management

By Alexander Elder

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 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.

• Language: English
• Publisher: Wiley
• Release date: Sep 29, 2014
• ISBN: 9781118963685

Reviews for The New Trading for a Living

[pupsor · Rating: 5 out of 5 stars]

Автор этого международного бестселлера, д-р Александр Элдер, - профессиональный биржевик и эксперт по техническому анализу. Он учит, что успешная биржевая игра зависит от трех факторов: психологии, методов и контроля над риском.В первой части этой книги д-р Элдер показывает, что ключи к победе - в вашей психологии. Он учит, как стать дисциплинированным игроком и избежать эмоциональных ловушек на бирже. Затем Элдер объясняет, как найти выгодные сделки, пользуясь графиками, компьютерными индикаторами и другими инструментами анализа биржи. Вы увидите, как связать различные методы анализа в эффективную систему биржевой игры. И, наконец, вам станет ясно, как управлять деньгами на своем биржевом счете. Правила для ограничения риска важны для биржевика, как запас воздуха - для аквалангиста.Новое, расширенное издание включает в себя задачник, созданный д-ром Элдером специально для тех, кто учится биржевому делу по его книге.Каждый из более 200 вопросов и ответов привязан к определенной главе книги. Задачник включает в себя 10 тестов.Раскрыв эту книгу, вы сделали первый шаг к познанию новых методов игры на валютных, фондовых, фьючерсных и других рынках. Вам предстоит узнать, "как играть и выигрывать на бирже".

[pointedpundit · Rating: 5 out of 5 stars]

An Honest and Complete Look at TradingI have a confession to make. I have been trading stocks since I was 13 years old. In between classes while my friends would head for the lavatories to smoke cigarettes, I would head to the pay phones to talk with my broker.I am older now. Along the way, I have read many books on trading. This is, perhaps, one of the best. Dr. Alexander breaks the art and science of trading into three pillars:•Psychology•Market analysis and trading systems•Money management.The key to winning the trading game is to win the battle within your mind. Dr, Elder, himself a practicing psychiatrist, explains how to develop discipline and to avoid the traps caused by emotional trading.Second, he shows how to identify good trades using charts and computerized indicators. In remarkably clear and concise language, he explains the indicators and how to combine them to develop your own trading system.Finally, he discusses importance of money management. The successful trader manages risk. Dr. Elder lays down the rules for limiting it.After reading this book, there is no doubt in my mind why this book has achieved the lasting success it has. All traders, both novices and experts, will benefit from reading it.