A Trader′s Money Management System
How to Ensure Profit and Avoid the Risk of Ruin
Gebonden Engels 2008 9780470187715Samenvatting
Money management may very well be the most important piece of the trading puzzle. In
A Trader′s Money Management System, expert Bennett McDowell provides time–tested techniques that can turn a losing trader into a winning one?and take the winning trader to an entirely new level. In revealing his personal approach to staying out of trouble in the financial markets and maximizing profits, he offers comprehensive insights into:
The psychology of risk control as well as the finer aspects of setting stop–loss exits
The value of managing trade size and consistent record keeping
The process of putting together your own personal money management system
Unlike other books that focus on the complex mathematical theories behind money management, this book presents its system in straightforward, easy–to–understand terms that will allow you to quickly see how these concepts work and immediately benefit from the value of effectively managing risk.
Specificaties
Lezersrecensies
Inhoudsopgave
<p>Preface ix</p>
<p>Acknowledgments xi</p>
<p>Diclaimer xiii</p>
<p>INTRODUCTION This is My Money Management System 1</p>
<p>PART ONE Psychology of Risk Control 7</p>
<p>CHAPTER 1 It Just Ain t Sexy! 9</p>
<p>CHAPTER 2 Confidence in Your Plan 15</p>
<p>CHAPTER 3 Yin and Yang 23</p>
<p>CHAPTER 4 Risk Psychology and The Trader s Mindset 31</p>
<p>PART TWO Stop–Loss Exits 37</p>
<p>CHAPTER 5 Not Every Trade Will be a Winner 39</p>
<p>CHAPTER 6 Entry Rules and Your Trading System 45</p>
<p>CHAPTER 7 Stop–Loss Exit Rules 55</p>
<p>CHAPTER 8 Scaling Out and Scaling In 65</p>
<p>PART THREE Trade Size Does Matter 73</p>
<p>CHAPTER 9 Using Risk–of–Ruin Tables and the Optimal f Formula 75</p>
<p>CHAPTER 10 Using the Two Percent Risk Formula and Proper Trade Size Formula 83</p>
<p>PART FOUR Record Keeping and Profit/Loss Analysis 89</p>
<p>CHAPTER 11 Tracking Profit and Loss Results and More Formulas for Success 91</p>
<p>CHAPTER 12 Using Trade Posting Cards and Ledgers 99</p>
<p>PART FIVE Design Your Own Plan 131</p>
<p>CHAPTER 13 Know Thyself Your Risk Profile and Discipline Profile 133</p>
<p>CHAPTER 14 Risk Management Rules to Choose From 139</p>
<p>Epilogue 149</p>
<p>APPENDIX A Getting Started with Your Trade Size Calculator Software 151</p>
<p>APPENDIX B The Trader s Assistant Record Keeping System 153</p>
<p>APPENDIX C The Art of Paper Trading 167</p>
<p>APPENDIX D Resources 173</p>
<p>Glossary 179</p>
<p>About the Author 203</p>
<p>Index 205</p>
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