Money management is the process of analyzing trades for risk and potential profits, determining how much risk, if any, is acceptable and managing a trade position (if taken) to control risk and maximize profitability.Many traders pay lip service to money management while spending the bulk of their time and energy trying to find the perfect (read: imaginary) trading system or entry method. But traders ignore money management at their own peril….
Think back to your very first pay cheque – paper route money, babysitting income or a cheque from a part–time job. Did it come with instructions?Instructions seem to be included with the simplest devices these days, and yet, with something as important as our pay cheques, we’re left to figure it out on our own. No one is born with money management skills. By the time we’re adults, we are expected to be able to manage our money effectively; however few of us are taught how. Therefore, many people experience the usual emotions that occur when they on’t know how to do something well….
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.
Perhaps the greatest secret to top trading and investing success is appropriate money management. I call it a “secret” because few people seem to understand it,I including many people who’ve written books on the topic.Some people call it risk control, others call it diversification, and still others call it how to “wisely” invest your money.However, the money management that is the key to top trading andinvesting simply refers to the algorithm that tells you “how much” with respect to any particular position in the market.
Have you ever exited a trade at a loss, only to find that the trade would have been profitable only a little while later? Have you ever exited a losing trade, opened one in the opposite direction, and then lost twice? I have. I used to make those mistakes and many others. Have you ever not stayed in a trade long enough to get the full amount of profit from it?Discipline is the answer. Disciplined traders succeed and undisciplined traders fail. It’s really that easy.
The world’s top traders may all have different methods for making money but they all tend to share the same personality traits that make them great traders. To be a successful trader you must approach the markets with the right attitude. Here, I have isolated ten key traits that the world’s top traders have if you are going to achieve longer-term success.
Trading is a battle between you and the market. And while you might not be a financial professional, that doesn’t mean you can’t win this battle.Through interviews with twelve ordinary individuals who have worked hard to transform themselves into extraordinary traders, Millionaire Traders reveals how you can beat Wall Street at its own game.Filled with in-depth insights and practical advice, this book introduces you to a dozen successful traders-some who focus on equities, others who deal in futures or foreign exchange-and examines the paths they’ve taken to capture considerable profits.With this book as your guide, you’ll quickly become familiar with a variety of strategies that can be used to make money in today’s financial markets. Those that will help you achieve this goal include:Tyrone Ball: trades Nasdaq stocks almost exclusively, and his ability to change with the times has enabled him to prosper during some of the most treacherous market environments in recent history.AShkan Bolour: one of the earliest entrants into the retail forex market, he trades in the direction of the major trend, rather than trying to find reversals.Frank Law: a technician at heart, identifies a trading zone, commits to it, and scales down as long as the zone holds.paul Willette: has mastered a method that allows him to harvest some profits right away, while ensuring that he can still benefit from an occasional extension run in his favor.Order your copy today and beat the Street.
Thousands of books have already been written about the stock market, many of them technical and tedious. Before I wrote this book, I was amazed that so many boring books had been written about such a fascinating subject. Just like you, I hate reading books that put me to sleep by the second chapter. That is why I was so determined to write an entertaining, easy-to-read, and educational book about the market.I wanted to write a book that I can hand to you and say, “Read everything in this book if you want to learn quickly about stocks.” You don’t have to be a dummy, idiot, or fool to understand the market. You also don’t have to be a genius. After you read this book, you will realize that understanding stocks is not that hard. (The hard part is making money, but we’ll get to that later.)
The experience of Wall Street investment manager and analyst Michael McDonald offers a new perspective on how to navigate the turbulent ups and downs of the markets. His innovative approach to the stock market teaches investors how to use new investment strategies intended to replace the “buy and hold forever” strategies of yesterday. McDonald discusses what a “trading range” market is-a roller-coaster ride in which the market will neither gain nor lose much ground-and guides readers through this market with his proven investment strategies. This book provides an understandable way to make sense of the unpredictable stock market, taking into account more complex theories, including chaos and contrarian approaches. Along with his expert advice, McDonald presents four investing paradoxes that will help investors make smarter decisions now and predict where the market is heading, using his proven theories.
Investing is governed by unofficial rules, passed to investors through brokers, the financial press, and even fellow investors. For more than a decade, in two previous editions, Stock Market Rules has helped investors separate the most valuable of these maxims from the meaningless and even potentially harmful. But with recent market turbulence and scandals blindsiding millions of investors, the time has come for a new, updated edition. Stock Market Rules, Third Edition, is that book, an in-depth, up-to-date examination of the 50 axioms that will most help investors gain the edge in today’s technologically supercharged markets. Investors needing authoritative, hands-on guidance will look to this updated edition for its:
Short sections covering the 50 most immediately useful rules
Easy-to-read yet analytical approach
Arrangement by research, strategy, and other major topic area