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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.

A playlist of the greatest beginner’s books on day trading: http://bit.ly/2RRmXrs

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.