I want to start reading "Trading for a living" by Dr. Alexander Elder, but before that, I want to know is it only for Day trading or can we use it to gain knowledge about swing trading too? And one more thing which other Swing Trading books will you recommend a beginner?
I know of no trade room that uses swing trading based on Elder. I have a master list of 2044 futures trade rooms and none use Elder.
It is not even great for day trading. Most trading books would not tell you when precisely to enter a trade. If you read the postings in this or other forums, lots of traders don't know when precisely to enter a trade I had burned and destroyed quite a few of my trading books
You can learn a lot of great stuff from Elder -- one of the few "trading" books I recommend. But no, Elder alone will not do. Lots of screen time is a must.
Read Part 1 and Part 2 on Trading Psychology for sure. I reread that section once in a while. Also Part 9 on Risk Management is a good read. The rest are not that different from hundreds of other trading books, i.e., won't work for most of us.