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Rating  - This book Changed the way I trade
After suffering a loss due to 'Unreasonable Exuberance' in 1997, I was about to quit market. I borrowed this book from library and from the very first page I felt as if Mr. Elder had written my trading biography. This book was a retrospect on my trading psychology/habit and realized my wrong approach to market. I read this book couple of time so that I fully register Mr. Elder's teaching and started trading again. It has been 9 years, I read this book, once every year just to make sure I do not deviate from my trading discipline. Every trader once in his trading life must read this book.
Rating - One of the most useful books to get your ready for trading
Trading is a very special business. The environment traders are working in is filled with confusing or even directly conflicting information, greed and aggression. It is a very stressful place and a lot of smart and rational people lose money because they are just not ready psychologically.
This books does a great job preparing you psychologically. First, it explains you what groups of people are involved and what their intentions are. Second, it describes what traders feel, how they should manage their emotions and stay rational and what they should try to avoid. This part is really great. The author is right on and you can skip years of painful mistakes if you follow his advices. Finally, the author reviews some trading strategies. This infomation is useful, but most of them are well described in other sources, so this is not the strongest point of this book.
Overall, it's one the best books about the psychological aspects of trading and it's highly highly recommended.
Rating - A wonder for traders
I love this book more than I can say. 5 stars for easy to understand explanation, great strategies, groundbreaking systems, and many more.
Rating  - Excellent Summary
This audio book is a very good summary of what one should consider if trading for a living or at least as a business.
The concept of group psychology in trading was new to me, very very interesting.
Rating - highly informative and entertaining
This review applies to the audio CD. This book stands out as perhaps the single best trading guide I've come across to date. It sounds great, and the author keeps things interesting from start to finish by inserting personal anecdotes and darkly humorous metaphors to emphasize his points, which are complimented nicely by the melodramatic delivery of the reader. Though the age of the written work shows (it repeatedly references antiquated trading tools such pencils, rulers, and telephones), nearly all the advice offered is still highly applicable in today's trading world. It tops my list of recommendations for beginning traders.
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Books : Trading for a Living: Psychology, Trading Tactics, Money Management Customer Reviews
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