I’d like to take just a moment today to talk about a book that I have mentioned several times in my lessons Dr. Alexander Elder’s Trading For a living.

I feel the fact that in addition to being a practicing psychologist Dr. Elder actually trades himself allows him a special ability to weave the psychology of trading into all the other aspects which go into successful trading to create as complete a guide as I have seen on the subject.

In this book you will learn not only about common psychological behaviors which destroy many traders but also tactics for focusing your own mind in the right direction so you can avoid the common psychological pitfalls that destroy so many traders. In addition Dr. Elder talks about how to read the overall mood of the market and looks at what things such as support and resistance, trends, gaps, and other chart patterns tell a trader about the psychology of the overall market at a given time.

Lastly Dr. Elder covers several trading strategies which traders can use in their own trading, and introduces two new indicators which he developed himself the Elder Ray and Force Index.

If you are seeking a book which ties together the psychology of trading, methods for trading the markets, and ways of protecting your trading capital into one cohesive easy to read book then I highly recommend Trading For a Living.

If anyone else has any comments whether positive or negative on this product I would appreciate you leaving them in the comments below so we can all benefit, and good luck with your trading!

Have you seen/used the study guide that is available for this book? If so, what is your take on it?

Hey Rocketman7,

No I haven't seen the study guide but it seems to have gotten some good reviews on Amazon so may check it out in the future.

Best,
Dave