Study Guide for Trading for a Living

Positive Review of Book

Sometimes I read a book and think I understand its author's ideas... but 2 weeks later only vaguely recall what i read. Dr Elder's STUDY GUIDE did a fantastic job of exposing my blind spots. Each of its questions is referenced to a specific chapter in the book. He shows you charts and puts you into trading situations, then asks, what will you do? He tells you not only what answers are correct but why they are correct and why others are wrong! The self-rating scales at the end of each chapter showed me exactly where I stood and what I needed to do next. A great follow-up to TRADING FOR A LIVING!

Negative Review of Book

What is your learning style? If you don't trust that you know something until you've taken a test, this book can help. It does an excellent job of pulling out the key topics and quizzing you on them. There are no 'silly' questions here only the important stuff. On the other hand, if you like to read and underline, then return to the text when you are actually 'doing' the activity, then this book is probably a waste of money. One nit complaint: some of the labeling of chart features is a bit unclear. Since it is sometimes tough to tell which letter goes with which feature, answering some questions is difficult, even when you know the material.

Author Biography

Alexander Elder, M.D., is a professional stock trader, living in New York. He is the author of Trading for a Living, Come Into My Trading Room and Entries & Exits, best-selling and well known among traders. First published in 1993, these books have been translated into Czech, Chinese, Dutch, French, German, Greek, Japanese, Korean, Polish, Portuguese, and Russian. He also wrote Rubles to Dollars a book about the transformation of Russia.

Dr. Elder was born in Leningrad and grew up in Estonia, where he entered medical school at the age of 16. At 23, while working as a ship’s doctor, he jumped a Soviet Union ship in Africa and received political asylum in the United States. He worked as a psychiatrist in New York City and taught at Columbia University. His experience as a psychiatrist provided him with a unique insight into the psychology of trading. Dr. Elder’s books, articles, and software reviews have established him as one of today’s leading experts on trading.

Table of Contents

• Trading--The Last Frontier.
• The Odds Against You.
• INDIVIDUAL PSYCHOLOGY.
• Fantasy Versus Reality.
• Self-Destructiveness.
• Trading Lessons from AA.
• Winners and Losers.
• MASS PSYCHOLOGY.
• What Is the Market?.
• The Market Crowd and You.
• Managing Versus Forecasting.
• CLASSICAL CHART ANALYSIS.
• Support and Resistance.
• Trendlines.
• Chart Patterns.
• COMPUTERIZED TECHNICAL ANALYSIS.
• Moving Averages.
• The Directional System.
• Williams %R.
• Relative Strength Index.
• THE NEGLECTED ESSENTIALS.
• Volume-Based Indicators.
• Herrick Payoff Index.
• STOCK MARKET INDICATORS.
• New High-New Low Index.
• PSYCHOLOGICAL INDICATORS.
• Consensus Indicators.
• NEW INDICATORS.
• Elder-Ray.
• TRADING SYSTEMS.
• Triple Screen Trading System.
• Channel Trading Systems.
• RISK MANAGEMENT.
• Money Management.

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