Front cover of The New Trading for a Living by Alexander Elder
Book

The New Trading for a Living

Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management

Alexander Elder

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Alexander Elder's 2014 revision ties a trading plan to psychology, chart tools, and money management. ChartClub lists the updated edition as an integrated primer. Risk rules in the book are part of the method, not a guarantee.

ChartClub editorial

This assessment is ChartClub's. It is not the community star rating.

Listed in the ChartClub Directory.

Listing facts checked 2026-10-09.

Author
Alexander Elder
Publisher
Wiley
Year
2014
Pages
304

Key takeaways

  • The edition treats psychology, charts, and money management as one plan.
  • Risk and position size are part of the method, not an optional extra.
  • Templates do not remove the need to test rules on the reader's own market.
Wiley dates this edition to October 2014, at 304 pages. The subtitle names psychology, discipline, trading tools and systems, risk control, and trade management. That is why the record uses Technical Analysis and Trading Process & Performance, and keeps money management and risk as tags rather than a third category. The useful part for a newer trader is the insistence that indicator work sits next to position size and a written plan. The useful limit is the same: examples and templates age, and a calm description of discipline is not the same as having done it on a live blotter. ChartClub does not score the book as a signal service. It is a framework. Readers still have to decide which tools fit their market and which rules they will actually keep.

Tags

  • technical-analysis
  • risk
  • money-management
  • psychology
  • trading-plan
  • indicators
  • discipline

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