Any good money management books?

[Wizard Trader]

I'm presently learning how to swing-trade commodities futures and I'm interested in learning about money management. People talk about money management a lot, but what exactly is it? How should one practice it?

Does anyone know of any good books on money management, particularly from a commodities perspective?

Many thanks,

WT

 

[TrailingStop]

Hi Wizard,

old, but from my point of view one of the best:

The Handbook of Portfolio Mathematics and The New Money Management. Both from Ralph Vince published by Wiley

Daniel

 

[Wizard Trader]

Any chance of buying those as audiobooks?

 

[TrailingStop]

Sorry, but I do not know -I have googled, but nothing found ...;(

 

[Wizard Trader]

Thanks anyway pal! I'll check those books out.

 

[zupcon]

Ryan Jones, The Trading Game is worth a read

 

[shadowninja]

Money Management, Ryan Jones.

 

[Wizard Trader]

Thanks for the replies. I'm looking for audio books in particular, so I can listen whilst I'm driving.

 

[olivia751]

Hello,

The link that stockmarketcoach has given really good. Here you get the audio that you want. And also the books for reading " The Handbook of Portfolio Mathematics and The New Money Management" is good for you.

Regards,
Olivia

 

[subarashi]

Better Stock Trading by Daryl Guppy is a good starting place. He concentrates on stocks but his presentation is aimed at traders with small capital bases. I am sure that the information can be utilised by commodities traders.

 

[daystrom]

"Money Management Strategies for Futures Traders" by Nauzer Balsara.

 

[Adamus]

I've read Ralph Vince and looked into his 'Optimal f' or fixed fraction of trading capital, how to determine 'f' and how it's theoretically massively less profitable to trade at less or more than that fraction.

I haven't read Ryan Jones or Nauzer Balsara. In a nutshell, what are their money management theories?

 

[jorune]

None of these are audiobooks but they are good for money management.

The definitive guide to Position Sizing by Van Tharp
http://www.iitm.com/Definitive-Guide-to-Position-Sizing.htm
Trade your way to Financial Freedom by Van Tharp
Way of the Turtle by Curtis Faith

I've read Trading Game by Ryan Jones but it wasn't for me.

You might want to look at money management software. I have a copy of Market system analyzer
http://www.adaptrade.com/MSA-main.htm

 

[Momtari]

Check this book. It could help you

 

[Mps721]

Another good book on money management that I am currently reading is "Long Term Secrets to Short Term Trading" by Larry Williams. It also has other information but has a great deal of money management because that is what makes you money; having good money management.

 

[angelnish]

The Handbook of Portfolio Mathematics and The New Money Management.

 

[natureboy]

As jorune stated Definitive Guide to Pos Sizing is a good comprehensive book. For my money, i'd go with a % account risk model as the money per trade gets bigger as you win and smaller as you lose.

 

[HannahBlake]

Rich dad, poor dad by Robert Kiyosaki is a good book which explains about money management. I am sure it will be useful for you too.

 

[BigPointValue]

I'm presently learning how to swing-trade commodities futures and I'm interested in learning about money management. People talk about money management a lot, but what exactly is it? How should one practice it?

Does anyone know of any good books on money management, particularly from a commodities perspective?

Many thanks,

WT

Trading for a Living: Psychology, Trading Tactics, Money Management (Wiley Audio)

 

[chinabean]

The books mentioned above are all good as a starting point. What I found was that in the end, I've taken different parts of various techniques and meshed them together to find my own way of doing things that works for me.

e.g. I have set percentages of my total book that I devote to various sectors/trades but depending on the circumstance, I will on occasion go over or under these.

Hope you find your way to the money management promised land!!