TRADING FOR A LIVING (BY DR ALEXANDER ELDER)

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In this animated video summary, I will share my top 5 takeaways from Alexander Elder’s classic on how to become a stock market magician – Trading for a Living.

Top 5 Takeaways from Dr Alexander Elder’s Trading for a Living:
0:00 Intro
01:27 1. The Three Pillars of Trading
02:53 2. How to Keep Your Emotions in Check
04:45 3. One Indicator to Rule Them All?
07:56 4. The Triple Screen Trading System
10:49 5. Money Management 101

TL;DW:

- Successful trading rests on three pillars: psychology, market analysis & trading systems and money management
- You may have to spend just as much time analyzing yourself as you spend on analyzing the markets
- There’s no one indicator for all situations and purposes – learn about different ones and combine them for optimal results
- Use, or take inspiration from, the triple screen trading system
- Survival always comes first! If you don’t practice sound money management, you’re a gambler, not a trader.

My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there – investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties – I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process – upgrading your money-making toolbox.

[TheSwedishInvestor]

A big thanks to all of you for 20k subscribers, it is truly amazing to get this kind of support! An even bigger thanks to those of you who also participated in the poll regarding which book that I should summarize next. And here it is – I’ll give you “Trading for a Living” by Alexander (Alex!) Elder.

[YnnnevkmYnnnevkm-rl]

Biggest winner mentality shift for me came after reading the book The Wealth Glitch: Cracking the Money Code

[AshleyLashley-sg]

The fact that nobody talks about the forbidden book The Wealth Glitch: Cracking the Money Code speaks volumes about how people are stuck in a trance

[techdoc]

this channel is the best thing that has happened to me. Guys lets support it <3

[RamAditya]

Trading is much like learning a bycicle 🌹Once you mastered this skill no one can take it from you❤️👌✔️

[chaseramos]

This is why a trading journal is so important. You must keep yourself accountable for every single trade.

[swarajbjoshi]

Perfect summary. Thank you so much for such a great content. I do follow triple screen system & results of it are just amazing. Nearly 80% it rewards you. Handling Emotions is the one area I am working on!

[sajis]

One of the best books i have read about trading

[Pjblabla]

One of the best YouTube channels on finance and trading

[elgrxngo]

I like the tip you give about keeping a track of all your past trades thats one of the biggest for improving yourself as a trader

[goldreserve]

There are good reasons not to use stop losses: The trader plans to hold the stock long term and doesn't want to lose money because of volatility. More importantly a trader doesn't want to get scalped by trading algorithms that can see the order book.

[richardjeanneau]

Thank you for this great summary! So good I just bought the book right after watching your video.

[ArunexFreelancer]

Great advice. Had to listen very VERY carefully at the point being made at 2:39.

[marketmindset]

Great video thanks for the upload. This book is a must read/listen for anyone wanting to learn about trading.

[bloosnail]

I don't comment much but this video was very well done. Thank you.

[specialistsprofessionalsin]

Super Duper Phenomenal awesome fantastic excellent terrific explanation
One of the best videos on YouTube

[berg]

I'm a day trader and agree with everything except the bit about only using 2% of your equity that's what a stop loss is for IMHO. Average into your trade in thirds as your trade is moving in your desired direction thereby mitigating risk. Every trade you take the reward must always be greater than the risk, 3 to 1 or whatever it is for you.

[coldavenue]

You are saving us so much time. Tack. Emil från Lönneberga skulle säkert vara en trader idag.

[Frank]

Great summaries: They are very clear, and the graphics are great.

[jk_]

One of the best videos on Trading Introduction i've ever seen! Well Done!