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I totally agree with Ed Sekoya and the Turtles group but have to tell you that two friends ( very bright people) went to Van Tharp's seminar and found it to be totally useless. I have his book and found it to be too simplistic and unrealistic.
AlAndrew Tomlinson <andrew_tomlinson@xxxxxxxxxxx> wrote:
Yes, I was thinking of Tharp as a place to start, too. Just don't take himtoo seriously. The numbers he uses are not replicable, and every time hementions "expectation" he defines it differently. But he listened to a lotof smart traders and he copied down some good stuff. And check out on theweb what people think about his courses before you lay out any money onthem. Also look up "portfolio heat" on the web. There's an article by Ed Seykotain Stocks and Commodities that is copied in a number of places. - even ifyour position size is right, the total risk position is key. And if you wantto see a system with highly developed portfolio risk management rules lookat the original turtle trading rules. They weren't successful because of theentry system, they were successful because of the portfolio
managementdiscipline.Andrew-----Original Message-----From: Richard Dale [mailto:richard@xxxxxxxxxxxxxxx] Sent: Saturday, July 24, 2004 12:53 AMTo: equismetastock@xxxxxxxxxxxxxxxxxxxxxx: RE: [EquisMetaStock Group] Money Management for TradingHave a read of Van Tharp's "Trade Your Way to Financial Freedom" andconsider a % of capital model with volatility-based stops. 2% seems to be agood compromise between safety and chance of ruin. 1% is better for largecapital bases. 4% is required if you have a small capital base.The exact level you choose should be based upon your system's expectancy andwin/loss ratio. Read the book for a few hundred pages of discussion aboutdifferent position sizing models.Best regards,Richard Dale.Norgate Investor Services- Premium quality Stock, Futures and Foreign Exchange Data for markets in Australia, Asia, Europe, UK &
USA - www.premiumdata.net<http://www.premiumdata.net/> _____ From: chichungchoi [mailto:no_reply@xxxxxxxxxxxxxxx] Sent: Saturday, 24 July 2004 2:23 AMTo: equismetastock@xxxxxxxxxxxxxxxxxxxxxx: [EquisMetaStock Group] Money Management for TradingDoes anyone know how to determine the best % of capital for trading? in order to let the profit grow faster and let the loss shrink faster. Thank youYahoo! Groups Sponsor ADVERTISEMENTclick here<http://us.ard.yahoo.com/SIG=1294g6m0p/M=295196.4901138.6071305.3001176/D=groups/S=1705375617:HM/EXP=1090731195/A=2128215/R=0/SIG=10se96mf6/*http://companion.yahoo.com> <<A
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