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BK001 To Trade or Not to Trade: A Beginner's Guide
3rd Expanded Edition
Dr Alexander Elder (Author)

You can be free.  You can live and work anywhere in the world, be independent from the routine, and not answer to anybody.

This is the life of a successful trader.

Many aspire to it but few succeed.  Newcomers often fail  to prepare for the markets tough challenges.  They keep making serious mistakes that could easily be avoided.

This book will help you decide whether trading is for you and teach you its key essential rules.

Success in trading is based on three Ms: Mind (psychology), Method (tactics), and Money (risk management).  Each of these areas is covered in its own section of this ebook.  The final section covers such practical topics as record-keeping, finding a broker, beginning to trade and continuing education.


How this book is organized

Free updates & the honor code

Is it possible to trade for a living?

Can anyone become a successful trader?

MIND - Trading Psychology for Beginners


What you need to succeed

Who should not trade?

No illusions

A trading aptitude test

Trading psychology resources

METHOD: Trading Rules for Beginners


Two ways to analyze markets

Mind the gap between price and value

Live data and day-trading

Going long, selling short, or spreading

What stocks to trade

Futures, options, and forex

Use multiple timeframes

Discretionary and systematic trading

Placing orders

Profit targets

Protective stops



The three essential numbers for every trade

The 2% Rule

The 6% Rule

Trade sizing - the iron triangle of risk control

What account size is good for beginners?



Paper trading


What is your edge?

Opening a brokerage account

Continuing education: books, software, etc.

Alexander Elder, M.D. is a professional trader based in New York.  He is the author of several best-selling books: Trading for a Living, Come into My Trading Room, Entries & Exits, and The New Sell and Sell Short (all with Study Guides).  Dr. Elder taught psychiatry at Columbia University.  His experience provides him with unique insight into the psychology of trading.  Dr. Elder is a sought-after speaker at worldwide conferences.  He is a co-director of, a website for traders.

DOWNLOADING: when you log in, you'll see several files. Most people download PDF which almost any reading device can open. Other file options are EPUB (Nook, Kobo, iPad) and AZW3 (Kindle). These are provided just in case, as PDF is likely to work for all. No need to download them all – start with a PDF.

Overall Rating:  
   5 Reviews | Read reviews | Create a review

List Price: $8.00  


Best one for me!
July 14, 2017 – Customer Rating:  
Needless to say, Dr.Alexander Elder books are very clear and it will sure save some avoidable mistakes for us when we do trading (especially for our beginner). I don't think you will find any other step by step book like this. This is what I am looking for. Thank you Dr.
Easy and Understandable e-book
October 5, 2014 – Customer Rating:  
Few years ago I studied Dr. Elder's "Trading for Living" and several other of his books which I found very interesting and REALLY useful to get a better trader. "To Trade or Not to Trade: A Beginner's Guide" is a very good short summary covering basics of trading - mind, systematic approach and money management. Easy and enjoyable to read !!!
Useful introducction to, or summary of, Elder's ideas.
January 27, 2012 – Customer Rating:  
If you haven't read no Elder's book, this one shows you a brief-easy-to-read introduction to his ideas and advices. If they seem you interesting, then read the other books (trading for a living, come into my trading room, entries and exits...) where these ideas are explained in detail. And if you have alredy read his books (like me!) I think it's a good summary. Greetings fron Spain!
October 27, 2011 – Customer Rating:  
It was a great idea to make an e-book with the possibility to be updated. However it's useful for beginner and not.
To trade or not to trade: A beginner's Guide
October 24, 2011 – Customer Rating:  
This is a good book for beginners.
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