A Trader's Money Management System: How to Ensure Profit and Avoid the Risk of Ruin
| Author | : | |
| Rating | : | 4.33 (510 Votes) |
| Asin | : | 0470187719 |
| Format Type | : | paperback |
| Number of Pages | : | 210 Pages |
| Publish Date | : | 2013-09-05 |
| Language | : | English |
DESCRIPTION:
Bennett A. This system is now known as Applied Reality Trading®, or ART®, and is used by traders around the world in over forty countries. He is a recognized leader in trading education and is honored to be included as a member of the eSignal “Trading with the Masters” team. Earlier in his career as a financial advisor, McDowell used his own proprietary trading system to serve a community of high-net-worth cli
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 exitsThe value of managing trade size and consistent record keepingThe process of putting together your own personal money management systemUnlike 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.. In A
From the Inside Flap Risk control tends to be the last thing that most traders focus on, perhaps because of the popular belief that it's their trading strategy that will generate great fortunes. He follows with a discussion of trade size, showing how to determine how large or small your trade size should be so that you are not overextending your risk. McDowell then details a variety of stop-loss approaches and gives you tips on how to make sure you adhere to them when they're hit. McDowell shares his personal money management system, with the ultimate goal of helping you design your own system, customized to fit your risk tolerance, your experience level, and financial needs. He first explains the psychology of risk co
Dan S. said A truly useful starting point for trading success. Like many other aspiring traders, I started by focusing on trading systems that promised high rates of return. While these may have worked well for others, my lack of understanding and discipline regarding risk management, trading mindset and record keeping was more than enough to sabotage my trading them successfully. It's this dilemma that Bennett McDowell addresses with this book, and he does it in a way that skips fancy approaches in favor of a s. "Worth the money" according to Pengcheng Chen. Light read.. An Organized Approach Michael Dean I found A Trader's Money Management System extremely valuable and informative. In this book Bennett McDowell divides money management into five parts: The Psychology of Risk Control, Stop-Loss Exits, Trade Size, Record Keeping and Design Your Own Plan. In the Psychology of Risk Control section he discusses the need for a plan of risk control then presents ways of uncovering your psychological makeup which either aid or hinder your trading. Then he ou