Money Management Strategies for Futures Traders

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John Wiley & Sons, Mar 30, 1992 - Business & Economics - 267 pages
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Distills complex theories for the benefit of the average trader with little or no background in finance or mathematics by offering a wide range of valuable, practical strategies for limiting risk, avoiding catastrophic losses and managing the futures portfolio to maximize profits. Numerous topics are explored including: why most traders lose at the futures game most of the time; why most mechanical trading systems are apt to fail; the probabilistic approach to trading; how to make stop-loss orders work for, rather than against you; the pros and cons of options versus futures trading; and how to limit risk through diversification.
 

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Contents

Understanding the Money Management Process
1
The Dynamics of Ruin
8
Estimating Risk and Reward
23
Limiting Risk through Diversification
53
Commodity Selection
76
Managing Unrealized Profits and Losses
87
Controlling Exposure
114
Allocating Capital
129
The Role of Mechanical Trading Systems
151
Back to the Basics
171
Appendix A Turbo Pascal 4 0 Program to Compute
181
Dollar Risk Tables for 24 Commodities
211
Appendix E Analysis of Opening Prices for 24 Commodities
236
A Mathematical
261
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