Re: [TheOptionClub.com] terry's tips

 

Sorry Jack (and all) I got the title wrong. The correct title of the Van Tharp book is "Trade Your Way To Financial Freedom." 

Here is a preview of it on google books: http://tinyurl.com/ydn8ur7

And here is Dr. Alexander Elder's "Trading for a Living" on Google Books. Go to page 257 and read as much at it lets you. It's a pretty meaty preview on money management. If you buy a copy online, make sure you are getting the Textbook and not the Workbook of "Trading for a Living."

http://tinyurl.com/yfb28y7

I am referring these books from personal experience, as having good methods of money management. Every trader that wishes to survive needs to know about position sizing and "risk of ruin" and Van Tharp is a great author for that. Van Tharp is for more long-term trading, and Elder has more of a short term orientation. So Van tharp's stops might be much wider than Elder's, etc. Enjoy.

On Sat, Feb 27, 2010 at 5:49 PM, Jack Crawford <jack@drofware.com> wrote:

 

Hi Greg,

Thanks for the references.  I see on Amazon that Dr Elder has a later book called "Come into my trading room" which also get good reviews.  I see that Van Tharp has written a lot of books on investing but not one with that title--- do you recommend any one in particular?
I am rereading a book by Mark Douglas "The Disciplined Trader: Developing Winning Attitudes" which I am finding useful the second time around.  It helps get over the losing trades.

Thanks, Jack

quote:

Jack: Regarding Money management, I recommend you read Dr. Alexander Elder's Trading For A Living and learn about his 2% 6% rules. Also, read Van Tharp's Trading for a Living, especially the section on position sizing.

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