Trading for a Living - Summary and Key Ideas

"Trading for a Living" is a comprehensive guide on how to succeed in the stock market by understanding market indicators and psychology, and developing a disciplined approach to trading.

The target group for the book "Trading for a Living" is individuals interested in stock trading, particularly those seeking to make it a primary source of income.

Buy the book
Trading for a Living

Key ideas


Successful trading requires emotional control, self-analysis, risk management with a focus on long-term survival and growth over immediate profits.


Mass psychology significantly influences financial markets, and successful trading requires independence, emotional control, and understanding of crowd behavior.

Play in App

Traditional chart analysis reveals the psychology of financial markets, enabling profitable trades by predicting trends based on investor behavior.

Play in App

In the financial markets, computers and technical indicators are crucial tools that reveal market psychology, helping traders profit from crowd irrationality.

Play in App

Incorporating time as a hidden dimension in market analysis can provide valuable insights and trading advantages.

Play in App

Technical indicators like the New High-New Low Index, Traders' Index, Advance/Decline line, and Most Active Stocks indicator translate market behavior into signals for informed trading decisions.

Play in App

Consensus and commitment indicators reveal market psychology, helping to identify extreme market conditions and potential reversals.

Play in App

Elder-ray and Force Index are advanced technical indicators that provide insights into market dynamics by assessing the strength of bulls and bears and the force behind market movements.

Play in App

Technical trading systems utilize multiple timeframes, indicators, trailing stops, channel-based strategies, and volatility-adaptive tools to enhance signal quality and maximize trading opportunities.

Play in App

Play in App

Play in App

Play in App
Get the App
Access all 10 key ideas for free!

Summary & Review

"Trading for a Living" by Alexander Elder is a comprehensive guide to the world of trading. It provides a deep understanding of the psychological, analytical, and tactical aspects of trading. Elder emphasizes the importance of discipline, patience, and risk management, and he provides practical strategies to help traders succeed. The book is a valuable resource for both beginners and experienced traders, offering insights into the mindset of successful traders and the tools they use to make informed decisions.

Alexander Elder

Alexander Elder is a professional trader and a recognized expert in stock trading, futures and options. He was born in Leningrad and grew up in Estonia, where he later entered medical school, before fleeing to the West.


Is Your Domain Name at Risk?

90% of domains are vulnerable to email fraud and spoofing. Cybercriminals can send emails as you, even if you don't. DMARC stops this.

Check DMARC Now
check is instant and free

Find all the book summaries

Quality book summaries

Frames of Mind

'Frames of Mind' presents the argument for multiple relatively autonomous human intelligences, the 'frames of mind' of the title. Gardner draws on psychological research, biological sciences and insights from different cultures to support his theory. These different intelligences can be developed and combined in various ways by individuals and cultures, making them a powerful tool for understanding human cognition.

The Design of Everyday Things

The book The Design of Everyday Things (1988) is about how good design can make our lives easier and more enjoyable. Don Norman shows how to create products that are intuitive to use and how to avoid frustration and confusion caused by bad design.

The Psychology of Selling

"The Psychology of Selling" provides strategies and techniques for effective selling, emphasizing the importance of understanding customer needs, creating emotional mental pictures for customers, and continuously improving sales skills. It also highlights the significance of setting goals, understanding why customers buy, and the power of suggestion in sales.

Ich zeige Dir wie Du reich wirst

Dieses Buch bietet einen pragmatischen, unkomplizierten und direkten Ansatz für persönliche Finanzen. Sethi erklärt, wie man Geld spart, investiert und klug ausgibt – und hilft den Lesern, ein erfülltes Leben zu führen, nicht nur in finanzieller Hinsicht, sondern auch in Bezug auf Möglichkeiten und Freiheit. Es gibt Einblicke in Investitionen, Vermögensaufteilung und bewusstes Ausgeben und beantwortet sogar Fragen zu Leben und Geld.


"Homecoming" is a a guide about reconnecting with your true self after a disconnection e.g. as a trauma response happaned.

Kopfsache Fußball

"Kopfsache Fußball" ist ein Buch, das die psychologischen Aspekte des Fußballs untersucht. Es geht darum, wie mentale Stärke, Strategie und Denkweise die Leistung auf dem Spielfeld beeinflussen können.