The Risk of Trading: Mastering the Most Important Element in Financial Speculation
| Author | : | |
| Rating | : | 4.14 (767 Votes) |
| Asin | : | 1118100832 |
| Format Type | : | paperback |
| Number of Pages | : | 208 Pages |
| Publish Date | : | 2016-07-19 |
| Language | : | English |
DESCRIPTION:
"The Risk of Trading is a call to arms for the trader who either keeps no trading journal at all or simply records profit and loss. Metrics are critical to success." (Seeking Alpha, May 2012)
Develop the skills to manage risk in the high-stakes world of financial speculationThe Risk of Trading is a practical resource that takes an in-depth look at one of the most challenging factors of trading—risk management. The book puts a magnifying glass on the issue of risk, something that every trader needs to understand in order to be successful.Most traders look at risk in terms of a "stop-loss" that enables them to exit a losing trade quickly. In The Risk of Trading, Michael Toma explains that risk is ever-present in every aspect of trading and advocates that traders adopt a more comprehensive view of risk that encompasses the strategic trading plan, account size, drawdowns, maximum possible losses, psychological capital, and crisis management.Shows how to conduct a detailed statistical analysis of an individual's trading methodology through back-testing and real-time results so as to identify when the methodology may be breaking down in actual tradingReveals why traders should think of themselves as project managers who are strategically managing riskThe book is based on the author's unique 'focus on the risk' approach to trading using data-d
Regret getting this book teacher parent Very generic. Kind of stuff you get in corporate training classes. Too high level to be useful or practical. I expected more risk management techniques and less managerial strategies.. Superficial brainstorming Fluff complete fluff. What a waste of time I listen thru the whole unabridged audiobook during hurricane Sandy poor guy narrating it If you pick out any 5 consecutive sentences and then pick out another 5 consecutive sentences, there is a good chance they are repeating the same crap over and ove. "A Great Book for Traders" according to kristie Zhang. I read 'Trading with Confluence' so I rushed to get this one. I thought it would be a continuation of the first book but the author takes a much deeper-dive into what traders need to do to improve trading. He does give setup suggestions in the book but puts lots of focus on getting a good entry