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The Mathematics of Money Management: Risk Analysis Techniques for Traders (Wiley Finance) (Hardcover)

by Ralph Vince (Author) "Whenever you enter a trade, you have made two decisions: Not only have you decided whether to enter long or short, you have also decided..." (more)

4.7 out of 5 stars See all reviews (3 customer reviews)

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Portfolio Management Formulas: Mathematical Trading Methods for the Futures, Options and Stock Markets (Wiley Finance) by Ralph Vince
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Product details

Hardcover: 400 pages
Publisher: John Wiley & Sons (4 Jun 1992)
Language English
ISBN-10: 0471547387
ISBN-13: 978-0471547389
Product Dimensions: 22.9 x 15.5 x 3 cm

Average Customer Review: 4.7 out of 5 stars See all reviews (3 customer reviews)

Amazon.co.uk Sales Rank: 295,825 in Books (See Bestsellers in Books)

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Product Description

Every futures, options, and stock markets trader operates under a set of highly suspect rules and assumptions. Are you risking your career on yours? Exceptionally clear and easy to use, The Mathematics of Money Management substitutes precise mathematical modeling for the subjective decision–making processes many traders and serious investors depend on. Step–by–step, it unveils powerful strategies for creating and using key money management formulas––based on the rules of probability and modern portfolio theory––that maximizes the potential gains for the level of risk you are assuming. With them, you′ll determine the payoffs and consequences of any potential trading decision and obtain the highest potential growth for your specified level of risk. You′ll quickly decide: What markets to trade in and at what quantities When to add or subtract funds from an account How to reinvest trading profits for maximum yield The Mathematics of Money Management provides the missing element in modern portfolio theory that weds optimal f to the optimal portfolio.

From the Inside Flap

Until now, money management practices have been driven by a loose collection of highly subjective rules of thumb. By failing to accurately understand the outcomes of their potential actions, many traders and serious investors have been operating blind. The Mathematics of Money Management injects a new degree of precision into your trading strategies. Based on the rules of probability and modern portfolio theory, it shows you how to create and use these money management techniques in the futures, options, and stock markets. And you don’t need to be a PhD to exploit these strategies. Every equation and formula is easy to understand, and practical examples are provided for immediate hands–on use of the trading techniques discussed. By wedding the precepts and practices of modern portfolio theory to the concept of optimal f, The Mathematics of Money Management shows how to gauge the payoffs and consequences of every potential trading action, before you take it. Armed with this information, you’ll obtain the greatest potential investment growth for your specified level of risk, no matter what your chosen market. You’ll use these time–tested strategies to:

Evaluate the risks and rewards of any potential trading decision
Accurately weigh and assign values to the components of any portfolio
Determine exactly how many contracts to trade for a specific market and/or system
Maximize profits under reinvestment trading
Prognosticate future system performance

Now you can bid good–bye to unreliable money management assumptions and faulty decision making. Here’s the money management tool for making mathematically correct trading decisions.

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Inside This Book (Learn More)

First Sentence
Whenever you enter a trade, you have made two decisions: Not only have you decided whether to enter long or short, you have also decided upon the quantity to trade in. Read the first page

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Customer Reviews

3 Reviews

5 star:		(2)
4 star:		(1)
3 star:		(0)
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Average Customer Review

4.7 out of 5 stars (3 customer reviews)

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Most Helpful Customer Reviews

6 of 6 people found the following review helpful:

4.0 out of 5 stars Not For the Innumerate, 25 Jan 1999

By A Customer

I would have given this book 5 stars if it was written with more examples to demonstrate the theories and formulas that it contains. The author certainly doesn't "spoon feed" his material to the reader. If you are innumerate stay away from this book. Of course, if you are innumerate stay out of trading the markets. What the author has to say regarding the correct amount of contracts or shares to buy based upon the calculation of optimal f is very important in order to keep from going broke and to receive expotential gains. It is loaded with concepts to facilitate the money mangament element of trading. I would say that a good prerequisite for reading this book would be an engineering degree something like advanced rocket science.

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5 of 5 people found the following review helpful:

5.0 out of 5 stars Vince's work is the very best available..., 14 Oct 1997

By A Customer

Vince's work is the very best available for the topic of money management in futures trading. If you have ever wondered how many futures contracts you should buy to optimize account growth, what the maximum downside risk is and how to control damage then this book is a must for your trading library. The book is mathematically oriented but if you invest the time to really understand it your ability as a money manager will greatly increase. A must for any serious trader!

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0 of 3 people found the following review helpful:

5.0 out of 5 stars A must for a system trader, 29 Jun 1998

By A Customer

The book delivers a good and detailed description of the money management, portfolio issues and much more. Recommended !

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