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

By Bennett A. McDowell, Steve Nison

Cash administration might be an important piece of the buying and selling puzzle. In A Trader's funds administration System, specialist Bennett McDowell presents time-tested innovations which may flip a wasting dealer right into a successful one?and take the successful dealer to a wholly new point. In revealing his own method of staying out of hassle within the monetary markets and maximizing earnings, he bargains complete insights into:

  • The psychology of possibility regulate in addition to the finer points of environment stop-loss exits
  • The worth of handling exchange measurement and constant checklist keeping
  • The technique of placing jointly your individual own funds administration system

Unlike different books that target the advanced mathematical theories in the back of cash administration, this publication provides its procedure in easy, easy-to-understand phrases that may let you fast see how those thoughts paintings and instantly enjoy the worth of successfully dealing with probability

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

Sample text

My rationale was this: The newsletter that was recommending this stock had done extensive analysis. The few analysts I could find following P1: PIC/b c02 P2: VEV/d JWBK182-McDowell QC: e/f T1: g April 25, 2008 15:39 Printer: Yet to come Confidence in Your Plan 19 this stock did not have anything bad to say. The stock was at its 52-week low, so how much lower could it go? I was not going to be greedy, because as soon as the stock got to a dollar, I would start selling it and take my profit. I did not see any sense in using stops because the stock was so cheap anyway.

Just the introspective understanding of your personal attributes will put you in a powerful position. This introspection will enable you to develop a strong yin and yang psychology where you create a harmonious relationship between all of your perceived strengths and weaknesses. Trading and success in the financial markets is not merely about having an exceptional approach or system that will give you an edge. Rather, it is about having an exceptional understanding of yourself, along with the system that will give you your edge.

In this figure, you will see four bullish triangles (to the right of the chart) marked with a P. 1 The ART Trading System Identifies Entries and Exits Based on Market Dynamics Source: eSignal.

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