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A Trader's Money Management System: How to Ensure Profit and Avoid the Risk of Ruin (Wiley Trading) | 
 enlarge | Author: Bennett A. McDowell
Creator: Steve Nison
Publisher: Wiley
Category: Book
List Price: $70.00
Buy New: $40.25
You Save: $29.75 (42%)
New (33) Used (17) from $32.99
Rating:  83 reviews
Media: Hardcover
Pages: 210
Number Of Items: 1
Shipping Weight (lbs): 0.7
Dimensions (in): 9.1 x 6.2 x 1
ISBN: 0470187719
Dewey Decimal Number: 332.645
EAN: 9780470187715
Publication Date: July 8, 2008
Availability: Usually ships in 1-2 business days
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| Features:
| • | ISBN13: 9780470187715 | | • | Condition: New | | • | Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed |
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Product Description
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.
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| Customer Reviews:
Showing reviews 1-5 of 83
 Good Book on Money Managment that covers the Basics July 25, 2010
RickyB
I enjoyed McDowell's writing style. It was a quick read and easy to understand. I would recommend this book to anyone who wants a "basic" understanding of risk psychology, methods and procedures.
I only gave the book (3) stars because the author makes a general explanation of important concepts and then sights other books to read for a more thorough understanding. It was enough to get my lips wet, but left me thirsty for a better understanding. I now have to refer to other sources.
Bottom line: Good book for the basics.
 Practical and easy-to-implement system June 25, 2010
A reader
2 out of 2 found this review helpful
I purchased this book on Amazon after using the "Look Inside" feature. My main purpose was to have the Trader Assistant forms. I knew that I needed to better track my trades, but I wasn't sure exactly what information to track. I tend to get bogged down with too much information, so having the forms made it simpler for me to focus on the necessary information.
I have read through the book once quickly, and now I am preparing to work through it at a much slower pace. After the first read, I am impressed with the practical and straightforward nature of the information. The book is very user-friendly. I look forward to Mr. McDowell's new book that will be available in August 2010.
 Not that great June 5, 2010
Straddle1985 (Belgium)
0 out of 2 found this review helpful
This book contains some usefull information on position sizing, but it's nothing more than a simple introduction to this field. The most helpfull part for me was the (short) bibliography. If you're serious about money management, rather go straight the Kelly paper, Ralph Vince his books, books from Van Tharp, and the one from Balsara.
This work was just to basic to be helpfull. The only usefull part were the last pages in the index, the trading diaries.
 Basic Money Management June 5, 2010
Rasputin (Arizona)
2 out of 2 found this review helpful
The book provides an effective strategy of money managment for "day trading" and "general stock investing". The focus is primarily on the "day trading" money management. However I would strongly recommend this to the average investor, to learn money managment concepts and the reasons for significant losses and missing major gains in their portfolio. Applying these strategies to stock investing would have significantly improved my return over the last several years. The downside to the book is that in the last two chapters they are trying to sell their services and products for tracking and reporting on "wins and losses", etc. A very similar reporting feature is available in MetaTrader 4.
Overall, I would still strongly recommend the book for the money management concepts and strategies. You'll make more than the cost of the book on your next stock investment.
the most amazing money mgmt system May 18, 2010
Lawrence Goldstein (São Jõao da Boa Vista, SP, BR)
1 out of 1 found this review helpful
McDowell's money mgmt system certainly beats anything that I have seen, and is truly a professional aystem.
Showing reviews 1-5 of 83
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