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Synopsis

Develop the skills to manage risk in the high-stakes world offinancial speculation

The Risk of Trading is a practical resource that takes anin-depth look at one of the most challenging factors oftrading—risk management. The book puts a magnifying glass onthe issue of risk, something that every trader needs to understandin order to be successful.

Most traders look at risk in terms of a "stop-loss" that enablesthem to exit a losing trade quickly. In The Risk of Trading,Michael Toma explains that risk is ever-present in every aspect oftrading and advocates that traders adopt a more comprehensive viewof risk that encompasses the strategic trading plan, account size,drawdowns, maximum possible losses, psychological capital, andcrisis management.

  • Shows how to conduct a detailed statistical analysis of anindividual's trading methodology through back-testing and real-timeresults so as to identify when the methodology may be breaking downin actual trading
  • Reveals why traders should think of themselves as projectmanagers who are strategically managing risk
  • The book is based on the author's unique 'focus on the risk'approach to trading using data-driven risk statisticalanalytics

Using this book as a guide, traders can operate more as businessmanagers and learn how to avoid market-busting losses whileachieving consistently good results.

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