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on 27 June 2016
This book is very similar book about trading available in the market. It is mainly about risk management and psychological aspects of trading: limit your loss, make logical decisions. As every book about trading it touches many psychological aspects and gives some advices which most of traders will not follow and only will learn from their own mistakes. There is some technical analysis which is useful if you are only beginner. This will help to develop your own technique of trading.
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on 19 February 2015
I don't think this is necessarily a book for beginners. However, it's a book that beginners should read. You will learn that it's all about hard work, and that the folks who sell you systems are selling you fool's gold. (I learnt this the hard way, and then had it demonstrated by my mentor.) You'll also learn exactly why you will fail, and what to do to turn yourself into a successful trader.

One of the best and most comprehensive books I've read on trading - and that's saying something. It was expensive (£55, c.$80) but worth every penny. The author is a doctor who escaped to the US from the former Soviet Union, became a psychiatrist and then a very successful trader. I bought this book for its comprehensive section on trading psychology. Alex Elder tells it like it is, in very plain terms. If you trade, you are your biggest enemy. He tells you what to do about it from within quite a harsh frame of reference: that of Alcoholics Anonymous.

It misses out on that fifth star because it has not been updated since 1992. The result is that it's very much a pencil-and-paper approach to trading signals, and there's no mention of the internet at all. That didn't bother me too much, but I think it would make some readers feel a bit robbed. On the plus side, he actually talks through the psychology of all the indicators. For me, that was a huge bonus. Even though I'm not big on indicators, the people I trade against are - so I have to know them and read the moves of the crowd.

Actually, I'm going to give this five stars. It's a rare thing for me to start re-reading a book on the same day I finished it.
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on 14 April 2017
Really enjoyed reading this book it has enhanced my trading mentality. Alexander gives advice on how to deal with trades physcologically well and what strategies work best when trading e.g how much money should be risked per trade.

The physcology of trading is one of the most important attributes to become successful at it which is why I would highly reccomend it
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on 25 August 2016
Very knowledgeable book and teaches you all aspects of making it as a trader from technicals to analysis. Great book
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on 1 September 2013
Unfortunately this wasn't the first book I purchased. Had it been I would have saved a lot of money. It covers the three most important aspects and how to start implementing them to be successful. For me the most pertinent was the psychology. My trading really turned a corner after reading this and "come into my trading room".
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on 22 April 2016
Book as expected
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on 31 January 2015
A worthwhile read
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on 26 December 2015
fine
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on 1 March 2009
This book is an excellent read if you want to trade the markets like a professional. The best bits I liked about are the psychology of trading and how losers get themselves into a hole by letting emotions run their trades. I was learning the the hard way i.e. by losing, but this book has put me on the right path..hope I am able to stick to the discipline the book teaches!
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on 30 April 2015
good and cheaper
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