Profit Strategies: Unlocking Trading Performance with Money Management

by David C. Stendahl

Drawing on years of experience, Stendahl highlights the key elements for reducing risk and maximizing profits through portfolio management techniques. More than Just a guide to what size your next... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 1883272300
• ISBN13: 9781883272302
• Release Date: February 1999
• Publisher: Marketplace Books
• Length: 90 Pages
• Weight: 0.40 lbs.
• Dimensions: 0.3" x 5.4" x 8.4"

Customer Reviews

Ample money management primer, pricey

If you get this book for less than $10, it's worth it. There's some good information on building a trading system, the importance of fitting money management to your system, money management strategies, Maximum Adverse Excursion, Optimal f, and stop placement. I would have liked some more details on position sizing and position management, with potentially some more insight into how to place stops in accordance with an intrument's range and beta, but at 80 pages the scope of this book is understandably constrained. Much of what's contained in this book is available freely on the web, although the examples were pretty good and justify most of the price. You can't (or at least I can't) build a fully functional MM strategy off what I got out of this book, but it's a start. This is a good, simple compilation, but not quite worth the high premium asked by the publisher.

Short and sweet, worth the money.

While this book is only about 80 pages, there's quite a bit of useful information for the begginning trader packed into these pages. While the focus of the book is on money management, the first half is spent in the description of developing a trading system, this so that the reader has a firm understanding of the system used as the example for the money management techniques discussed in the second half of the book. This first half however, has a number of "big picture" overviews of system design and testing strategies that I found to be very informative. The section on money management techniques was likewise informative in a "big picture" kind of way. I would highly recommend this book to beginning traders who are looking into system design, and to anyone who wants a broad overview of money management techniques. Given its limited length, there's a whole lot of good information here. The Author has filled the limited pages quite effeciently with ideas. On the other hand, if you are already familiar with such techniques as Maximum Adverse Excursion, Maximum Favorable Excursion, Drawdown Support, Fixed Fraction, and Optimal F techniques, you won't find anything new here.A couple of things to note:The Author is affiliated(or at least appears to be), with RINA Systems, and relies on data analysis using tools developed by that company. You might consider this book to be a bit of a house organ for that company, but this is not at all blatant and does not detract at all from the materials presented.I found the position sizing examples rather odd with abnormally large percentages allocated to individual trades in the examples. In fact, I rather expected this book to be primarilly devoted to position sizing, and this aspect of money management is only briefly touched on. Some would argue that position sizing is what money management is all about, this Authors definition howver covers such things as adding to existing positions, locating optimal stop points, etc.