Great read,,, Trading for a Living

Jdesey · Jun 30, 2017

From the famous book. "Trading fir a living" by Elder. Read the first paragraph

nonlinear5 · Jun 30, 2017

Good book. A classic, really.

Jdesey · Jun 30, 2017

Yup. I'm re reading it. The parts of his book dealing with trader psychology are gold. And money management

Stocktracker · Jun 30, 2017

Jdesey said:
Yup. I'm re reading it. The parts of his book dealing with trader psychology are gold. And money management

Some say that this person made his money by selling books and not trading. In other words, he made his money by selling shovels to the poor Miners or the dreamers!

Never the less, I found the book to be very informative.

speedo · Jun 30, 2017

Elder is a practicing psychiatrist.

Jdesey · Jun 30, 2017

Well I don't know how he made his money and I don't really care. His focus on the mental part of trading is very very important Mastering my emotions, sticking with trades, bailing out when I need to.... those things took a long time to learn and I believe that's true for most traders.

Stocktracker · Jul 1, 2017

Jdesey said:
Well I don't know how he made his money and I don't really care. His focus on the mental part of trading is very very important Mastering my emotions, sticking with trades, bailing out when I need to.... those things took a long time to learn and I believe that's true for most traders.

You better go buy and read his other classic book " Come into my trading Room" then! :sneaky:

rockn · Jul 1, 2017

He and another trader Kerry Lovvorn also have a trading site Spiketrade.com, education, stock pick competition.

Turveyd · Jul 1, 2017

I once traded with all profit/loss hidden, I was on fire, loads of trades thought i was doing well, huge loss that day, never repeating that lol

Windlesham1 · Jul 1, 2017

Trading is a business-you don't need a psychiatrist to run a bakery. Get a method that works, and stop giving all your money to the banks- they're all stocked up now.