A Trader's Money Management System: How to Ensure Profit and by Bennett A. McDowell, Steve Nison

By Bennett A. McDowell, Steve Nison

Funds administration could possibly be an important piece of the buying and selling puzzle. In A Trader's cash administration System, specialist Bennett McDowell presents time-tested ideas that may flip a wasting dealer right into a profitable one?and take the profitable dealer to a wholly new point. In revealing his own method of staying out of hassle within the monetary markets and maximizing gains, he deals entire insights into:

  • The psychology of danger keep watch over in addition to the finer facets of surroundings stop-loss exits
  • The price of dealing with exchange dimension and constant checklist keeping
  • The strategy of placing jointly your individual own funds administration system

Unlike different books that target the advanced mathematical theories at the back of cash administration, this ebook provides its method in hassle-free, easy-to-understand phrases that might let you speedy see how those strategies paintings and instantly enjoy the worth of successfully handling possibility

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Additional info for A Trader's Money Management System: How to Ensure Profit and Avoid the Risk of Ruin

Sample text

Can you weather the valleys long enough to enjoy the peaks? That will depend on how well you manage your risk and manage the fact that not every trade will be a winner. Gambling casinos understand that not every game of poker or blackjack will go in their favor and be a winner for the house. In fact, they have no idea which hand played will be a winner or loser. But, they do know that they have a winning edge over the public playing at their casino and over time they know they will win more than they lose.

The trader is on an emotional roller coaster due to anger, fear, or greed. There is too much attention on trading results and not enough on the process and learning the skill of trading. The trader focuses on the money too much. There are unrealistic trading expectations. When one of the items in this list occurs, isolate and defuse it ASAP. From time to time issues will arise that you’ve never encountered, usually during a growth phase when you may be testing a new approach. Identify the issue, acknowledge and adjust.

It seemed the P1: PIC/b c02 P2: VEV/d JWBK182-McDowell 18 QC: e/f T1: g April 25, 2008 15:39 Printer: Yet to come A TRADER’S MONEY MANAGEMENT SYSTEM only choice I had was to hang in there and stay with the position. The emotions created by this trade gone bad clouded and paralyzed my judgment. On week three, the upward surge continued, and by that Friday I had experienced my limit of anxiety. Not being able to take one more second of pain as I watched my loss grow to an absurd level, I exited the trade.

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