{"product_id":"the-new-trading-for-a-living-isbn-9781118443927","title":"The New Trading for a Living","description":"\u003cp\u003e\u003cb\u003eThe best-selling trading book of all time\u003c\/b\u003e—\u003cb\u003eupdated for the new era\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eThe New Trading for a Living\u003c\/i\u003e updates a modern classic, popular worldwide among both private and institutional traders. This revised and expanded edition brings time-tested concepts in gear with today's fast-moving markets, adding new studies and techniques for the modern trader.\u003c\/p\u003e \u003cp\u003eThis classic guide teaches a calm and disciplined approach to the markets. It emphasizes risk management along with self-management and provides clear rules for both. \u003ci\u003eThe New Trading for a Living\u003c\/i\u003e includes templates for rating stock picks, creating trade plans, and rating your own readiness to trade. It provides the knowledge, perspective, and tools for developing your own effective trading system.\u003c\/p\u003e \u003cp\u003eAll charts in this book are new and in full color, with clear comments on rules and techniques. The clarity of this book's language, its practical illustrations and generous sharing of the essential skills have made it a model for the industry—often imitated but never duplicated. Both new and experienced traders will appreciate its insights and the calm, systematic approach to modern markets.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eThe New Trading for a Living\u003c\/i\u003e will become an even more valuable resource than the author's previous books:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eOvercome barriers to success and develop stronger discipline\u003c\/li\u003e \u003cli\u003eIdentify asymmetrical market zones, where rewards are higher and risks lower\u003c\/li\u003e \u003cli\u003eMaster money management as you set entries, targets and stops\u003c\/li\u003e \u003cli\u003eUse a record-keeping system that will make you into your own teacher\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eSuccessful trading is based on knowledge, focus, and discipline. \u003ci\u003eThe New Trading for a Living\u003c\/i\u003e will lift your trading to a higher level by sharing classic wisdom along with modern market tools.\u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIntroduction 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1. Trading—The Last Frontier 1\u003c\/p\u003e \u003cp\u003e2. Psychology is the Key 3\u003c\/p\u003e \u003cp\u003e3. The Odds against You 5\u003c\/p\u003e \u003cp\u003e\u003cb\u003eOne Individual Psychology 9\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4. Why Trade? 9\u003c\/p\u003e \u003cp\u003e5. Reality versus Fantasy 10\u003c\/p\u003e \u003cp\u003e6. Self-Destructiveness 16\u003c\/p\u003e \u003cp\u003e7. Trading Psychology 19\u003c\/p\u003e \u003cp\u003e8. Trading Lessons from AA 21\u003c\/p\u003e \u003cp\u003e9. Losers Anonymous 23\u003c\/p\u003e \u003cp\u003e10. Winners and Losers 27\u003c\/p\u003e \u003cp\u003e\u003cb\u003eTwo Mass Psychology 31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e11. What is Price? 32\u003c\/p\u003e \u003cp\u003e12. What is the Market? 33\u003c\/p\u003e \u003cp\u003e13. The Trading Scene 36\u003c\/p\u003e \u003cp\u003e14. The Market Crowd and You 39\u003c\/p\u003e \u003cp\u003e15. Psychology of Trends 43\u003c\/p\u003e \u003cp\u003e16. Managing versus Forecasting 46\u003c\/p\u003e \u003cp\u003e\u003cb\u003eThree Classical Chart Analysis 49\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e17. Charting 50\u003c\/p\u003e \u003cp\u003e18. Support and Resistance 55\u003c\/p\u003e \u003cp\u003e19. Trends and Trading Ranges 60\u003c\/p\u003e \u003cp\u003e20. Kangaroo Tails 65\u003c\/p\u003e \u003cp\u003e\u003cb\u003eFour Computerized Technical Analysis 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e21. Computers in Trading 69\u003c\/p\u003e \u003cp\u003e22. Moving Averages 74\u003c\/p\u003e \u003cp\u003e23. Moving Average Convergence-Divergence: MACD Lines and MACD-Histogram 80\u003c\/p\u003e \u003cp\u003e24. The Directional System 89\u003c\/p\u003e \u003cp\u003e25. Oscillators 95\u003c\/p\u003e \u003cp\u003e26. Stochastic 95\u003c\/p\u003e \u003cp\u003e27. Relative Strength Index 99\u003c\/p\u003e \u003cp\u003e\u003cb\u003eFive Volume and Time 103\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e28. Volume 103\u003c\/p\u003e \u003cp\u003e29. Volume-Based Indicators 107\u003c\/p\u003e \u003cp\u003e30. Force Index 112\u003c\/p\u003e \u003cp\u003e31. Open Interest 117\u003c\/p\u003e \u003cp\u003e32. Time 121\u003c\/p\u003e \u003cp\u003e33. Trading Timeframes 126\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSix General Market Indicators 133\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e34. The New High–New Low Index 133\u003c\/p\u003e \u003cp\u003e35. Stocks above 50-Day MA 139\u003c\/p\u003e \u003cp\u003e36. Other Stock Market Indicators 140\u003c\/p\u003e \u003cp\u003e37. Consensus and Commitment Indicators 142\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSeven Trading Systems 149\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e38. System Testing, Paper Trading, and the Three Key Demands for Every Trade 151\u003c\/p\u003e \u003cp\u003e39. Triple Screen Trading System 154\u003c\/p\u003e \u003cp\u003e40. The Impulse System 162\u003c\/p\u003e \u003cp\u003e41. Channel Trading Systems 166\u003c\/p\u003e \u003cp\u003e\u003cb\u003eEight Trading Vehicles 173\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e42. Stocks 175\u003c\/p\u003e \u003cp\u003e43. ETFs 176\u003c\/p\u003e \u003cp\u003e44. Options 178\u003c\/p\u003e \u003cp\u003e45. CFDs 186\u003c\/p\u003e \u003cp\u003e46. Futures 187\u003c\/p\u003e \u003cp\u003e47. Forex 194\u003c\/p\u003e \u003cp\u003e\u003cb\u003eNine Risk Management 197\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e48. Emotions and Probabilities 197\u003c\/p\u003e \u003cp\u003e49. The Two Main Rules of Risk Control 202\u003c\/p\u003e \u003cp\u003e50. The Two Percent Rule 203\u003c\/p\u003e \u003cp\u003e51. The Six Percent Rule 208\u003c\/p\u003e \u003cp\u003e52. A Comeback from a Drawdown 210\u003c\/p\u003e \u003cp\u003e\u003cb\u003eTen Practical Details 215\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e53. How to Set Profit Targets: “Enough” is the Power Word 215\u003c\/p\u003e \u003cp\u003e54. How to Set Stops: Say No to Wishful Thinking 219\u003c\/p\u003e \u003cp\u003e55. Is This an A-trade? 225\u003c\/p\u003e \u003cp\u003e56. Scanning for Possible Trades 230\u003c\/p\u003e \u003cp\u003e\u003cb\u003eEleven Good Record-Keeping 233\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e57. Your Daily Homework 234\u003c\/p\u003e \u003cp\u003e58. Creating and Scoring Trade Plans 238\u003c\/p\u003e \u003cp\u003e59. Trade Journal 243\u003c\/p\u003e \u003cp\u003eA Journey without an End: How to Continue Learning 249\u003c\/p\u003e \u003cp\u003eSources 253\u003c\/p\u003e \u003cp\u003eAcknowledgments 257\u003c\/p\u003e \u003cp\u003eAbout the Author 259\u003c\/p\u003e \u003cp\u003eIndex 261\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eALEXANDER ELDER, MD,\u003c\/b\u003e is a professional trader and teacher of traders. He is the author of several best-sellers, considered modern classics among traders. He also wrote books about Russia and New Zealand. \u003c\/p\u003e\u003cp\u003eDr. Elder was born in Leningrad and grew up in Estonia, where he entered medical school at the age of 16. At 23, while working as a ship’s doctor, he jumped a Soviet ship in Africa and received political asylum in the United States. He worked as a psychiatrist in New York City and taught at Columbia University. His experience as a psychiatrist provided him with unique insight into the psychology of trading. \u003c\/p\u003e\u003cp\u003eDr. Elder is an active trader, but he continues to teach and is a sought-after speaker at conferences in the US and abroad. Dr. Elder is the originator of Traders’ Camps – week-long classes for traders. He is the founder of the SpikeTrade group, a community of traders whose members share their best stock picks each week in competition for prizes.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003eTHE BEST-SELLING TRADING BOOK OF ALL TIME – UPDATED FOR THE NEW ERA\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe New Trading for a Living\u003c\/i\u003e updates a modern classic, popular worldwide among both private and institutional traders. This revised and expanded book brings time-tested concepts in gear with today’s fast-moving markets, adding new studies and techniques for the modern trader. \u003c\/p\u003e\u003cp\u003eThis classic guide teaches a calm and disciplined approach to the markets. It emphasizes risk management along with self-management and provides clear rules for both. \u003ci\u003eThe New Trading for a Living\u003c\/i\u003e includes templates for rating stock picks, creating trade plans, and evaluating your readiness to trade. It provides the knowledge, perspective, and tools for developing your own effective trading system. \u003c\/p\u003e\u003cp\u003eAll charts in this book are current, in full color, with clear comments on rules and techniques. The clarity of this book’s language, its practical illustrations, and generous sharing of the essential skills have made it a model for the industry – often imitated but never duplicated. Both new and experienced traders will appreciate its insights and the calm, systematic approach to modern markets. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe New Trading for a Living\u003c\/i\u003e will become an even more valuable resource than the author’s previous books: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eOvercome barriers to success and develop stronger discipline\u003c\/li\u003e\n\u003cli\u003eIdentify asymmetrical market zones, where rewards are higher and risks lower\u003c\/li\u003e\n\u003cli\u003eMaster money management as you set entries, targets, and stops\u003c\/li\u003e\n\u003cli\u003eUse a record-keeping system that will make you into your own teacher\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eSuccessful trading is based on knowledge, focus, and discipline. \u003ci\u003eThe New Trading for a Living\u003c\/i\u003e will lift your trading to a higher level by sharing classic wisdom along with modern market tools.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990299754725,"sku":"NP9781118443927","price":82.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118443927.jpg?v=1761787258","url":"https:\/\/k12savings.com\/es\/products\/the-new-trading-for-a-living-isbn-9781118443927","provider":"K12savings","version":"1.0","type":"link"}