The New Trading For Living by Alexander Elder is one of the best-selling financial trading guides of all time. Being published in 1986 for the first and updated in 2014, the book has been time tested to be useful to all individual and institutional traders, amateurs and professionals.
Who is the author of Alexander Elder?
Alexander Elder, MD, is a professional trader and teaching specialist for traders all over the world, based in New York. He is also the author of some of the best-selling books in the world.
Dr. Elder was born in Leningrad and raised in Estonia, he entered medical school at the age of 16. At 23, while working as a doctor on a military ship, he jumped off a Soviet ship for political asylum in the United States. Later, he worked as a psychiatrist in New York City and taught at Columbia University.
His special experience as a psychiatrist provided him with insight into trading psychology. Then he began to write analytics, write articles for the press and write his own books. So far, Dr. Elder is one of the leading experts on trading.
Dr. Elder is the initiator of Traders Camps – A week-long class for traders. Dr. Elder is also the founder of the Spike group, which shares the best stock codes to trade. Today, he is frequently invited to seminars and presentations in – outside the United States.
Throughout this book, Elder gives detailed instructions on the 3M formula to become a successful, financially free trader: Good psychological control (Mind); Effective trading system (Method) and finally strict money management (Money).
The New Trading for a Living is a new way of trading for a living that brings valuable knowledge for both individual and institutional investors. This is a new revised and written book aimed at introducing time-tested concepts that are relevant to the current financial market as well as adding new research and techniques to modern traders.
The classic lessons teach traders to be calm and disciplined when trading on financial markets. It emphasizes risk management issues along with self control and provides implementation rules. The New Trading for a Living introduces the stock selection patterns, how to plan your trading, and assess your readiness for trading. The book provides knowledge, vision, and tools to help you build an effective trading system.
All the charts in this book are up to date, in color, with clear comments on trading rules and techniques. The clear language, practical illustrations, and insights on the basic trading skills that make this book valuable. Both beginner traders and experienced traders will find this book to offer systematic trading and insight into modern financial markets.
The New Trading for a Living will become the most valuable resource than any previous book of the author by:
- Overcoming barriers to success and building stronger trading discipline.
- Helping you find greater profits while lowering risk.
- Mastering money management skills such as determining the opening position,, how to determine the price target and stop loss level.
- The guide of careful transaction journaling to help you become your own teacher.
Successful transactions need to be based on understanding, focus and discipline. The New Trading for a Living will enhance your trading skills by introducing classic knowledge suitable for modern financial trading tools.
It will take you many hours to read this book. When you discover ideas that seem important to you, examine them with the market data you are trading as well as your trading activity. You will gain your own knowledge only by asking yourself questions and testing them.