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

By Bennett A. McDowell, Steve Nison

Funds administration could possibly be crucial piece of the buying and selling puzzle. In A Trader's funds administration System, specialist Bennett McDowell presents time-tested thoughts which may flip a wasting dealer right into a successful 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 earnings, he deals entire insights into:

  • The psychology of possibility keep an eye on in addition to the finer facets of environment stop-loss exits
  • The price of coping with exchange dimension and constant checklist keeping
  • The means of placing jointly your individual own cash administration system

Unlike different books that target the advanced mathematical theories at the back of funds administration, this booklet offers its process in elementary, easy-to-understand phrases that would let you quick see how those recommendations paintings and instantly enjoy the worth of successfully coping with threat

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

Example text

Capitalizing on your strengths and weaknesses will develop your risk psychology and will make it easier for you to implement your money management plan more effectively and consistently. YIN AND YANG OPPOSITES DEFINED There is a Chinese philosophy of yin and yang that basically illustrates the opposites in our universe, such as strength and weakness. These opposites are very telling. This philosophy believes that there is no such thing as 100 percent black or 100 percent white, and that black and white (and all opposites) coexist in nature in an intertwined harmonious circle shape.

Some of these traits will come naturally to each individual, but others will need to be cultivated and acquired. It may take some time 31 P1: PIC/b c04 P2: c/d QC: e/f JWBK182-McDowell T1: g April 25, 2008 15:44 32 Printer: Yet to come A TRADER’S MONEY MANAGEMENT SYSTEM before you will attain all these traits, but it begins with knowing what the qualities are that you are looking for. HERE IS WHAT YOU’LL FEEL AFTER ACQUIRING THE TRADER’S MINDSET 1. Not caring about the money 2. Acceptance of the risk in trading and investing 3.

They will tell you that the fire moves where it wants to, and sometimes seems to have no logic other than its own powerful path. Again, it is much like the markets, since there are times that they, too, seem to defy logic. How timely for these fires to occur just as I am working on this book. The similarities between Mother Nature and the markets are dramatic. They are both powerful and unpredictable, but they are manageable. The value of bringing up this wildfire experience is to illustrate how there are risks all around us that we are managing every day.

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