The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management (Wiley Trading)

Really loved this book - it covers a really wide field, from an in-depth review of price analysis to psychology, risk management, and daily routine. It passes my favorite test, namely that a lot of ideas in it seem great but obvious in retrospect, yet were not at all how I did things before I read it. It spells out in great detail a rigorous, systematic approach to trading, that is independent of the specific kinds of trades you do; and also gives one plenty of ideas as to what kind of trading one might do, without trying for a one-size-fits-all solution. Make no mistake, there is no recipe to riches in there, and the book makes it clear that a lot of work is needed to succeed in the way described therein, but it does describe in detail how best to focus one's efforts, and gives a lot of building blocks to get one started. Just to illustrate how rich this book is: I always summarize books I want to really absorb into a mindmap; and while for most books that fits onto an A3 sheet (if that), my summary of this book is two A2 sheets, in quite small print. It has already made me see trading in a whole new light, and I'm still digesting - and having lots of fun while at it ;)

I haven’t started reading it but i can bet it would be life changing with all the chapters.Also the feel of this book is really premium with hard cover and clean pages.I loved it

Good read.Fast delivery.

It is a good book, and has a lot of information in it, but can't give it 5 stars because I know how hard trading is and my journey to profitability consists of nothing I learnt in this book. I won't say don't read it, just don't expect to be trading for a living from it. It's one of many books along the journey.

Like many people over the last few years I've been dabbling in stocks. What I've never taken the time to do is build a systematic approach to doing so and treating my trading as a business. While I have made money, I've bought some terrible stocks and others right at the top of a peak. What this book provides is an insight into the mechanics of trading, the psychology of trading and a process to systematise your approach. It's even a fairly lively read for what could be a dry subject.

It' my first book, but I think it's probably one of the best. It' s a trading Bible. I followed the routine, and my trades , the small ones for the beggining, went very fine, without a fuss. I had a plan, I followed the plan and that was that. Great book !

Bought the first version many years ago. This have been brought up to date with many new insights and methodology. Probably the best single book on trading you will find, the updated version although expensive is excellent vfm. His other books are excellent to, like in particular sell and sell short.

There is quite a bit to read and some areas are a bit technical, but overall the book is helpful and worth reading if you interested in learning the different areas you should acquire to be a successful trader.

If I could give a 6 star rating to this book I would because of how good it really is. It is a bit expensive but I can assure you it is worth it. You'll be getting a book of very good quality, both the actual paper(thick and coloured pages) and the information within. Despite it being a beginners book on trading, I advise you to read one or two simpler books about the markets that describe the absolute basics and then jumping into this one. This is an excellent foundation for you to start your trading/investing journey considering it goes through the psychological aspects of trading, how to organize and prepare yourself, tools and systems you can use, journaling and different strategies and things you absolutely must know. You won't regret it.

There are many trading books by many people out there. I have read a few of them, but this one is much more than just a method or a strategy. What impacted me about the book changed as time went on. At first, I just needed to understand what to do and how to do it. So, that would be the introduction to 1) Bearish and bullish divergences on MACD 2) Fade the extremes on FI 3) Trend following using the EMA and ATR channels (pullback to rising and pullback to falling value zones) I still use these strategies to this day. The real impact came later on. While I followed the tools of risk management, I did not fully grasp what they would do for my trading until after 2 or 3 years in. 1) The 2% max risk was adjusted down to 0.1% and then I started following the handcuff method. This kept me from getting wiped out in the first 3 years and actually kept the losses to my overall account small. I cannot stress the importance this has had to my trading. a) Secondary note to this is it forced me to take a serious look at whether I can trade futures anymore. I had to walk away from them because the risk was too high so I just started with commodity ETFs and can now slowly make my way back to futures. 2) I thought I was disciplined until I followed how to do lookbacks. I figured the risk management was enough to define the line between gambling and trading. I found I was making many impulsive moves which was silently subtracting from the account. Once I saw them on a chart with notes, it helped me walk away from trades before entering which stopped me from overtrading. I cannot describe the power of the lookback but over time, but it will probably pay for itself 3) Writing down the trading plan focused how I take a trade. It gave me concrete rules to follow and focused my discipline. All lookbacks are now done based on how well I follow those rules and in turn the lookbacks either reinforce or eliminate rules.

This book is very useful, because you need to evaluate yourself on what you read and learned in the other book "Trading for a living". I've read quite a few books on the trading subject, and here is the first one that gives me the opportunity to test my comprehension. Why did I give 4 stars only? Because the fifth will come from me if my reading is $ucce$$ful! Thanks M. Elder!

Horrível o controle de qualidade da Wiley. O livro todo impresso pela metade.

Alexander Elder’s The New Trading for a Living is a smart, modern update to his classic. It blends timeless trading principles with current tools and techniques, making it ideal for both beginners and seasoned traders. Clear writing, improved visuals, and a strong focus on psychology and discipline make this a standout resource. Whether you're revisiting the original or starting fresh, this book delivers practical, actionable guidance for long-term trading success. If you’ve read Come Into My Trading Room, this book complements it perfectly—reinforcing Elder’s core teachings while adding fresh perspectives and updated strategies. A must-have for anyone serious about trading success.