Every once in a while, you read an investment book that really hits home, forever altering the way you invest in the market. Trading for a Living by Dr. Alexander Elder is a book that every personal investor should pick up and read.

Often, you browse the investment section at Barnes & Noble only to find books on the basics. It is tough to find books that cover a wide spectrum and don’t just stretch a couple points  throughout the entire book. This is not the case with this book. Each chapter focuses on a different topic while continuing the major theme of investment techniques that lead to profitable trades.

Trading for a Living is structured so that it covers concepts usually neglected by most other investment books:

• Individual and mass psychology of investing
• Classical chart analysis
• Computerized technical analysis
• Various indicators
• Several trading systems
• Risk and money management

Now, there were parts that were redundant to me, but I did learn some very valuable tools that I have started to use in my everyday trading. If you have been on a losing streak (probably most everyone out there these days) then I suggest you cash out of the market and pick this book up off eBay or Amazon. Take the time to read it and then think about trading again.

I will be writing some articles on concepts from this book that I have adopted and successfully used so check back for those.