Trading the Plan: Build Wealth, Manage Money, and Control Risk (Wiley Finance) - Hardcover

Deel, Robert

Hardcover

ISBN 10: 047116979X ISBN 13: 9780471169796

Publisher: Wiley, 1997

Synopsis

This is the first book of its kind to address the topic of money management for individual traders and to present a comprehensive, detailed plan for implementation. It explains how to create a management program that addresses the emotional aspects of trading, presents an offensive and defensive portfolio allocation strategy, defines risk and shows the reader how to identify risk tolerance. It offers hands-on advice on selecting screen trades using fundamental and technical analysis and shows how to work with an "anatomy of trade."

About this title

From the Back Cover

Trading

The Plan is a powerful instrument to help you achieve control over your financial destiny. It equips you with the tools you need to maximize your profits, control your risks, and, perhaps most importantly, develop a money management program that will limit your losses. In the course of reading this remarkable book, you'll grow to regard author Robert Deel as a trusted advisor who gives you tough, straightforward advice and helps you implement the changes you need to make. And, unlike the "one-size-fits-all" approach of other advisors, Deel shows you how to tailor a strategy that fits your specific needs, goals, and risk tolerance.

Drawing on years of experience as an investment advisor, Deel has packed this book with both detailed practical advice and hard-won wisdom about how trading, investing, and human nature really work. Emphasizing the danger of unchecked losses, he makes the case that a strong money management program is absolutely essential to acquiring and keeping wealth. He examines the many faces of risk and thoroughly explores the key money management questions:
* How much of total available capital should you risk?
* How much do you risk in any one trade?
* How much leverage should you use?
* How can you project losses and preserve your capital?

To help you establish your own money management system, Deel provides a simple but powerful formula --the Direction Discipline Risk Leverage equation --which examines your trading ability and helps you control risks.

In his invaluable "15 Rules of Investology," based on 40 years of trading results by professional and private investors, Deel offers trading and investing guidelines that will spare the reader wealth-draining losses and many sleepless nights. Here is concise, practical information on how to use fundamental and technical analyses to select and screen trades, determine market trends and trading cycles, categorize different types of stocks, and select the computer equipment you need to trade successfully.

In a brilliant summary of all the key features of the trading plan, Deel walks you through the entire trading and investing process from beginning to end. This "Anatomy of a Trade" illustrates all the important decision points in an actual trade and offers a hands-on application of the trading plan to a working example.

For all futures, stock, and options traders, Trading the Plan is an essential field guide for acquiring --and keeping --profits.

Maximize profits, control risks, and limit losses with this total plan for investing and trading

Like no other book of its kind, Trading the Plan gives the individual trader in futures, stocks, and options a superb resource for investing, managing money, and limiting the profit-draining losses that can lead to financial disaster.

"Robert Deel offers traders and investors alike a solid overview of real world trading advice. The subject matter covers everything from the psychology of trading to practical money management techniques. Trading the Plan: Build Wealth, Manage Money, Control Risk is a definite must read for any serious investor." --David C. Stendahl, President, The OEX Trader, Inc.

About the Author

ROBERT DEEL is a portfolio manager for Strategic Management Decisions, a private money management firm that advises individuals, small businesses, corporations, trusts, and pension plans. A recognized trading expert, he has trained numerous professional traders, brokers, and financial planners in fundamental and technical analyses and tactical trading.

Edition details

• Publisher: Wiley
• Publication date: 1997
• ISBN 10: 047116979X
• ISBN 13: 9780471169796
• Binding: Hardcover
• Language: English
• Edition number: 1
• Number of pages: 240