This is one of the most difficult things in trading. It almost seems counter intuitive. The only way you can ever hope to be a success is to control your risk. If you are reckless and blow up your account you will run slap bang into the one reality – if you have no money you cannot play. The trick in trading is to preserve your capital so you survive long enough and are able to take that trade that will come along and will make all the difference to your account. I’m going to talk about stops in another
Nassim Nicholas Taleb has written a series of books about risk, randomness, chance. I found it quite hard to start reading his books but then something would happen and it all just seemed to ‘click’. He is one of the most insightful authors I have read. Highly recommended. Click cover for the 4 book pack at Amazon Click below for The Book Depository Book Depository Link The individual titles, Fooled by Randomness, The Black Swan, Antifragile and The Bed of Procrustes are also available. Note sometimes these books are unavailable or come in different editions etc.
Click cover for Amazon Click link below for The Book Depository Book Depository Link Click cover for Amazon Click link below for The Book Depository Book Depository Link These books talk a lot about probability theory and history. Beat the dealer is about Edward Thorp who developed a system to beat the casinos in Las Vegas playing blackjack. I got bored with it pretty quickly. I might return to it again some time. The casinos actually changed their rules as a result of this book. We can’t have the mug punters having an edge over the
Click cover for Amazon Click link below for The Book Depository Book Depository Link This book talks about the history of risk and all the giants who have stood on the shoulders of the person before them right up to today. I read this just for interest. It did tend to drag on a bit but was quite interesting for the most part. Originally posted 2017-05-04 15:43:56.
Click Cover for Amazon Click link below for The Art of Trading at The Book Depository Book Depository Link Chris Tate is Louise Bedford’s business partner at The Trading Game. I read this book when I enrolled in the Mentor Program in 2016. This book focuses on Money Management, Psychology of Trading, Risk, Technical Analysis, Preparing a trading plan. Chris has an almost daily blog on The Trading Game website. Chris is big on developing your own trading system that resonates with you and looking at the charts for yourself. Successful traders take the first signal their system