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May I ask
On Wed, 21 Apr 1999, TKruzel wrote:
> In general I would recommend the book. How useful it is to any
> given individual depends upon the mathematical background of that
> person. I thought it was well written. IMHO would be traders spend
> much too much time creating indicators. None of these indicators in
> the long run will give you more than a 50:50 chance at making money.
>
> The real "holy grail" is managing money and risk. Those are the only
> factors that you can control and the only way you can win in the long
> run. It is unfortunate that the writers of trading software totally
> ignore this aspect. Much more emphasis should be placed upon developing
> a product that allows one to test more sophisticated money management
> strategies (e.g. legging in, legging out, moving stops, pyramiding, and
> betsize relative to total equity). But I suppose most people hate math
> and like pretty pictures so that is the target market for so called
> trading software.
>
> OK. Sorry for the rant. Yes I would recommend the book.
>
> Regards,
> Tim
>
> Glen Wallace wrote:
> >
> > Has anyone read "The Mathematics of Money Management" by Ralph Vince? It
> > was recommended to me as an advanced, yet practical book on money management
> > and risk management.
> >
> > Any comments?
>
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