{"product_id":"the-successful-traders-guide-to-money-management-isbn-9781119798804","title":"The Successful Trader's Guide to Money Management","description":"\u003cp\u003e\u003cb\u003eDiscover how to maximize the effectiveness of your trading techniques by applying the right money management techniques\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMoney management is a central element of trading the financial markets, especially in uncertain times. Yet investors often misinterpret the central concepts of money management. To manage risk and obtain optimal rewards from your trades, you will benefit from a deeper understanding of how the professionals manage money. \u003ci\u003eThe Successful Trader’s Guide to Money Management\u003c\/i\u003e describes the operating methods that seasoned investors use. With this book, you’ll avoid the common mistake of focusing too much on entry levels and stop-losses, and you’ll learn to consider the impact of proper money management on your final portfolio results.\u003c\/p\u003e \u003cp\u003eSuccessful traders focus on risk management, avoiding opening positions that are too large with respect to the total capital they have available. Packed with practical examples and with special focus on money management or position-sizing, \u003ci\u003eThe Successful Trader's Guide to Money Management \u003c\/i\u003eoffers a comprehensive coverage of widely practiced risk management models, examining their strengths and weaknesses. You will learn how to use the most effective operating models, including the Fixed Fractional, Fixed Ratio, and Percent Volatility models. This book also provides a thorough analysis of portfolio management models. These essential tips will nudge you toward a more winning position as you enter your next trades.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eLearn how the professionals manage money and avoid common trading mistakes\u003c\/li\u003e \u003cli\u003eDesign a trading system that minimizes risk and maximizes reward through correct position sizing\u003c\/li\u003e \u003cli\u003eUnderstand the most important money and portfolio management models, including Fixed Ratio, Percent Volatility, Fixed Fractional, and more\u003c\/li\u003e \u003cli\u003eEquip yourself to trade smarter, individually or with a broker, on equity, derivatives and Forex markets\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eFor individual and institutional investors alike, this book is a ticket to more solid trading strategy, especially in uncertain times.\u003c\/p\u003e \u003cp\u003eForeword xi\u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Martingale and Anti-Martingale 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 The Right Stake 1\u003c\/p\u003e \u003cp\u003e1.2 Martingale 2\u003c\/p\u003e \u003cp\u003e1.3 Anti-Martingale 9\u003c\/p\u003e \u003cp\u003e1.4 More Examples 15\u003c\/p\u003e \u003cp\u003e1.5 A Miraculous Technique? 17\u003c\/p\u003e \u003cp\u003e1.6 Conclusions 20\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 The Kelly Formula 21\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 Kelly and Co. 21\u003c\/p\u003e \u003cp\u003e2.2 Conclusions 31\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 A Banal Trading System 33\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 Analyzing a System Based on Moving Averages 33\u003c\/p\u003e \u003cp\u003e3.2 Applying the Kelly Formula 37\u003c\/p\u003e \u003cp\u003e3.3 Conclusions 52\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Money Management Models 53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 The Fixed Fractional Method 54\u003c\/p\u003e \u003cp\u003e4.2 Optimal \u003ci\u003ef \u003c\/i\u003e60\u003c\/p\u003e \u003cp\u003e4.3 Secure \u003ci\u003ef \u003c\/i\u003e65\u003c\/p\u003e \u003cp\u003e4.4 Fixed Ratio 68\u003c\/p\u003e \u003cp\u003e4.5 Percent Volatility Model 81\u003c\/p\u003e \u003cp\u003e4.6 Levels for Changing the Number of Contracts 91\u003c\/p\u003e \u003cp\u003e4.7 Conclusions 92\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Refining the Techniques 94\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e5.1 The Importance of the Trader’s Temperament 94\u003c\/p\u003e \u003cp\u003e5.2 Reduced \u003ci\u003ef \u003c\/i\u003e95\u003c\/p\u003e \u003cp\u003e5.3 Aggressive Ratio 97\u003c\/p\u003e \u003cp\u003e5.4 Asymmetric Ratio 99\u003c\/p\u003e \u003cp\u003e5.5 Timid Bold Equity 100\u003c\/p\u003e \u003cp\u003e5.6 Equity Curve Trading 103\u003c\/p\u003e \u003cp\u003e5.7 \u003ci\u003ez\u003c\/i\u003e-Score 110\u003c\/p\u003e \u003cp\u003e5.8 Conclusions 112\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 The Monte Carlo Simulation 114\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e6.1 Using the Monte Carlo Simulation 114\u003c\/p\u003e \u003cp\u003e6.2 Maximum Loss 135\u003c\/p\u003e \u003cp\u003e6.3 Conclusions 139\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 The Work Plan 141\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7.1 Using a Work Plan 141\u003c\/p\u003e \u003cp\u003e7.2 Conclusions 155\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Combining Forces 157\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8.1 Using a Combination of Systems 157\u003c\/p\u003e \u003cp\u003e8.2 Portfolio Money Management 168\u003c\/p\u003e \u003cp\u003e8.3 Which Capital? 169\u003c\/p\u003e \u003cp\u003e8.4 The Effects of Portfolio Money Management 173\u003c\/p\u003e \u003cp\u003e8.5 Conclusions 180\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Money Management When Trading Stocks 181\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.1 Trading in the Stock Market 181\u003c\/p\u003e \u003cp\u003e9.2 Conclusions 192\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Portfolio Management 193\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e10.1 A Portfolio Approach 195\u003c\/p\u003e \u003cp\u003e10.2 Some Improvements to the System 208\u003c\/p\u003e \u003cp\u003e10.3 Conclusions 214\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Discretionary Trading 215\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e11.1 Trading Criteria and Definition 215\u003c\/p\u003e \u003cp\u003e11.2 An Example: Mediaset 218\u003c\/p\u003e \u003cp\u003e11.3 Adjusting Volatility During the Trade 225\u003c\/p\u003e \u003cp\u003e11.4 Trading Futures 228\u003c\/p\u003e \u003cp\u003e11.5 Conclusions 245\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Questions and Answers 246\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendix I 252\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eI.1 The Impact of a Trading System on Planning 252\u003c\/p\u003e \u003cp\u003eI.2 The Trading System 252\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendix II 268\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eII.1 Understanding the Type of Strategy 268\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendix III 278\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIII.1 The Advantages of Forex 278\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendix IV Online Trading 282\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIV.1 The Trader 282\u003c\/p\u003e \u003cp\u003eIV.2 Trading Profits 284\u003c\/p\u003e \u003cp\u003eIV.3 Systematic or Discretionary? 286\u003c\/p\u003e \u003cp\u003eIV.4 Choosing the Broker 287\u003c\/p\u003e \u003cp\u003eIV.5 Which Platform? 288\u003c\/p\u003e \u003cp\u003eIndex 291\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eANDREA UNGER\u003c\/b\u003e is a full-time trader, educator, author and Founder and CEO of Unger Academy\u003csup\u003e®\u003c\/sup\u003e. He is a highly sought-after speaker at conferences in Europe, the US, and APAC; a member of Mensa International; and an honorary member of the Italian Society of Technical Analysis.   \u003c\/p\u003e\u003cp\u003eRegardless of the market or country in which you operate, money management is a fundamental aspect of risk management in investing and trading. However, while many operators focus on identifying operational set-ups, like entry levels and stop-loss ratios, many do not consider the often-decisive impact that money management can have on their investment returns. \u003c\/p\u003e\u003cp\u003eIn \u003ci\u003eThe Successful Trader’s Guide to Money Management\u003c\/i\u003e, celebrated investor, educator, and author Andrea Unger delivers a thorough exploration of the different methods used by traders and professional investors to calculate how much of their capital to use in individual transactions. Sometimes referred to as “position-sizing,” money management in trading is a central component of effective risk management. \u003c\/p\u003e\u003cp\u003eYou’ll find practical examples with a special focus on money management and position-sizing, as well as comprehensive coverage of widely practiced investment techniques, including discussions of their strengths and weaknesses. You’ll discover treatments of the most effective position sizing models. You’ll also learn about portfolio management, with examples on how different approaches lead to completely different results. \u003c\/p\u003e\u003cp\u003eFinally, the book also offers essential tips on building and designing a trading system, how to trade on equity, derivative, and forex markets, and how to choose a broker aligned with your needs. \u003c\/p\u003e\u003cp\u003ePerfect for investors, retail traders, fund managers, and professional or advanced investors, \u003ci\u003eThe Successful Trader’s Guide to Money Management\u003c\/i\u003e will also earn a place in the libraries of anyone thinking about beginning to invest or start their trading career and who seeks a one-stop, authoritative resource on how to manage one’s money while actively trading.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990350086373,"sku":"NP9781119798804","price":50.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119798804.jpg?v=1761787464","url":"https:\/\/k12savings.com\/es\/products\/the-successful-traders-guide-to-money-management-isbn-9781119798804","provider":"K12savings","version":"1.0","type":"link"}