Alexander Elder 
Study Guide for The New Trading for a Living 

Test your trading knowledge and skills–without
risking any money

You may read the best trading book, but how much of that
knowledge will you retain a week later? This is why you need this
Study Guide for The New Trading for a Living. It’ll
give you a firmer grasp of the essential trading rules and skills.
This Study Guide, based on the bestselling trading book of
all time, was created by its author to help you master the key
points of his classic book.

The Study Guide’s 170 multiple-choice questions are
divided into 11 chapters, each with its own rating scale. They
cover the entire range of trading topics, from psychology to system
design, from risk management to becoming an organized trader. Each
question is linked to a specific chapter in the main book, while
the Answers section functions like a mini-textbook. It doesn’t just
tell you that A is right or B is wrong–it provides extensive
comments on both the correct and incorrect answers.

This Study Guide also contains 17 charts that challenge
you to recognize various trading signals and patterns. Everything
is designed to help you become a better trader.

Consider getting two books as a package–the Study
Guide and The New Trading for a Living. They’re designed
to work together as a unique educational tool. The Study
Guide for The New Trading for a Living is a valuable
resource for any trader who wants to achieve sustainable market
success.

Table of Content

About This Study Guide ix

Part I Questions and Rating Scales 1

Introduction 3

One Individual Psychology 7

Two Mass Psychology 13

Three Classical Chart Analysis 19

Four Computerized Technical Analysis 27

Five Volume and Time 37

Six General Market Indicators 49

Seven Trading Systems 57

Eight Trading Vehicles 65

Nine Risk Management 71

Ten Practical Details 79

Eleven Good Record-Keeping 85

Part II Answers and Comments 89

Introduction 91

One Individual Psychology 95

Two Mass Psychology 99

Three Classical Chart Analysis 103

Four Computerized Technical Analysis 107

Five Volume and Time 113

Six General Market Indicators 119

Seven Trading Systems 123

Eight Trading Vehicles 129

Nine Risk Management 133

Ten Practical Details 137

Eleven Good Record-Keeping 141

Afterword 145

Sources 147

About the Author 149

About the author

Dr. Alexander Elder is a professional trader, a teacher of traders, and a practicing psychiatrist. He is the founder of Financial Trading Seminars, Inc. and www.elder.com — both of which provide educational services to traders worldwide. Dr. Elder is author of three bestselling trading books, Trading for a Living, Come Into My Trading Room, and Entries and Exits, which have collectively sold over 250, 000 copies. Trading for a Living was translated into 9 languages and Come Into My Trading Room was named ‘book of the year’ by Barron’s in 2003.