Money Management for Traders: Essential Formulas and Custom Record Keeping Forms for Successful Trading (BEST BOOKS 4 TRADERS)

Money Management for Traders is an excellent book with great insight. The book can be read and understood in one sitting with actionable items to immediately implement. Money Management is a fundamental part of trading. Bennett McDowell discusses a disciplined systematic approach in risk management which is a critical component of a trading plan but is probably the least understood.Topics includes, win ratio, payoff ratio, risk of ruin, trader size matters, dollar risk, stop loss exit strategies and a record keeping form to track your trading statistics. By utilizing the forms provided, and implementing a record keeping system, you should be able to spot strengths and weaknesses in reviewing your trading history.This book is the first in a series of investment books by “Best Books 4 Traders”. I can’t wait until the next one is available. The format is easy to read, awesome and reminds me of “The Little Book” series, such as “The Little Book of Common Sense Investing” by John C Bogle and “The Little Book That Beats The Market” by Joel Greenblatt.

Actually nothing special, if you already know something.It was told that there would be examples of stop loss placing - it is missed.20 pages of glossary and other books recommendations. This is not something I was looking for.Real price of the book is 5 USD.But if it is your first experience in risk management it is okay, but I won’t recommend it much.

Trading the markets is a strange avocation. It is in the class of “infinite games;” meaning, most important is to live to play another day. Or, as Warren Buffet might say, “Rule number one is Don’t Lose Money, and rule number two is … Don’t Forget Rule Number One.” There are winning traders that win only 20% of the time, and there are winning traders that risk one dollar to make only one dollar — but there are few if any traders that do both!“Money Management for Traders” is a nice, concise, easily-readable book that focuses on the “risk of ruin” and the fundamentals of sizing market bets in order to stay in the game — and it is put together by Bennett and Jean McDowell, who are legend in the field of trader education.This book is an essential first stop for anyone interested in trading the markets!

Bennet's new book "Money Management for Traders" is a classic! It is well written and organized. This wonderful book talks about topics that most traders ignore but make all the difference in staying in the trading arena! Especially the topics about trade size, stop loss exit strategies and many detailed effective methods of record keeping. I would highly recommend this book to anyone and everyone who trades!

This book explains in great detail the steps to be taken to watch over your money when placing a trade. Serious traders should use these principles if you are indeed serious about trading. It's small but packs quite a punch; the examples, formulas and forms are very useful.

Probably, one of the first books a trader should read before even making a trade. Information is laid out so it is easy to understand even if your math skills are a little rusty. Account management and trade size are the two keys that will keep a trader in the game. Short, Sweet and to the point..

This book by Bennett McDowell is one to keep close to you forever. It contains all management principles in one convenient book. Easy to access, easy to read and above all concise.I recommend this book to all who want to understand the basic principles of risk management in trading.Alex.

An excellent book for the most crucial concept in trading. Money and Risk management. It is the other two-thirds of a trading career. Unfortunately, most failed traders pay too little attention to this area instead of chasing the next indicator.Keeping the loss small in percentage and placing a stop close by is a skill needed to have thru proven processes and rules; with statistics, a trader can figure out a methodology and move in the right path and direction.You have to know your number reference to your re-producible average; if the win rate is 60-70%, That means every two to three lose trades, a winning trade is next. Knowing that keeps you in a calm mind.This book outlines how to obtain your number and know what kind of trader you are. Then tweak the component that affects the numbers to one’s style. Review this book once a month to refine your process and add in what is missing and improve the current process.

O livro é ok, não traz nada de muito novo, somente resume alguns conceitos. O bom é que a leitura levou pouquíssimo tempo.

Extremely basic book.If you’ve never heard of money management before, I guess this could be a good introduction.But if your level of understanding of MM is even just a few YouTube vedo deep, let alone a few books deep, than this manual will result extremely simplistic and shallow.Not worth it unless you are a complete novice in my opinion.