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Product Description
From Library Journal
Copyright 2001 Reed Business Information, Inc. --This text refers to the Audio CD edition.
From AudioFile
Trading appears deceptively easy. Read the first page
Concordance
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Most helpful customer reviews
9 of 9 people found the following review helpful:
5.0 out of 5 stars
Really A Must,
By
This review is from: Trading for a Living: Psychology, Trading Tactics, Money Management (Hardcover)
Dr. Elder is a practicing psychiatrist. He is Russian origin and today he is well-known in Russia after his Moscow course of lectures on short-term investment in 1996. This book is translated into Russian and was published twice in Moscow ... The first half of the book is pure psychology. The stock market in fact is a reflection of the human psychology. As the author points out, 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. I have found a lot more detail in this book than in any other I've read so far. It is very enlightning. I give the book five stars. It is really good. If you don't mind the high price, buy it. It pays. You won't be disappointed. I highly recommend it to those traders who wants to improve the quality of their lives. Alexander Petrochenkov
5.0 out of 5 stars
A must have reference for any traders library,
By Jimmy D. Hays (Sulphur Springs, Texas United States) - See all my reviews
This review is from: Trading for a Living: Psychology, Trading Tactics, Money Management (Hardcover)
Anyone who has a serious interest in trading or any professional trader would not be without this book. It should be your trading "Bible" and within your reach for reference at all times. If you are looking for a dependable trading system (as dependable as systems can be) then the Triple Screen is for you. It will help you to identify solid trades and avoid the straight gambles. I think that Dr. Elder has given us a book that will prove itself invaluable to you over your trading career. His technical analysis discussions are clear and concise, and his examples provide a good framework for understanding. However he is not guaranteeing you success or giving you a "magic formula". Just the relevant information that you will need to make good trading decisions. With his insight into trading psychology, he is trying to help you avoid many of the common mistakes that traders make. If by purchasing this book, and taking to heart what the says, you are able to avoid one bad trading decision, then it will have been worth it to you!
4 of 4 people found the following review helpful:
4.0 out of 5 stars
This Guy is a Psychiatrist,
By "kltr" (Singapore) - See all my reviews
This review is from: Trading for a Living: Psychology, Trading Tactics, Money Management (Hardcover)
Alexander Elder is first and foremost a psychiatrist, and it shows when he explains his insights into individual and mass psychology in the first two chapters of the book.These two chapters are the real gold in the book; i have not read a more succinct and hard-hitting explanation of the behavior of individuals and crowds, and these two chapters are the ones you want to read. The rest of the book is devoted to the basics of technical analysis. There is a lot of stuff out there on technical analysis so the stuff in Elder's book is likely to be somewhat outdated. Nevertheless, read this book for the part on the psychology. This is fundamental and basic for any investor or trader, and is crucial to your success in the markets.
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