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Yes, same dude.
----- Original Message -----
From: "Norman" <nwinski@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, February 26, 2001 3:19 PM
Subject: Re: [RT] Book- "The Real Holy Grail"
> Is that Eddie Kwong formerly the moderator of RealTraders e-mail list?
>
> Cheers,
>
> Norman
> ----- Original Message -----
> From: "The Torch" <iceman_nrg@xxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Monday, February 26, 2001 5:27 PM
> Subject: Re: [RT] Book- "The Real Holy Grail"
>
>
> > Thom:
> >
> > I haven't read it yet but here is someones review on
> > the book.
> >
> >
> > The Real Holy Grail: Money Management Techniques
> > Of Top Traders
> > By Eddie Kwong
> > Published by M. Gordon Publishing
> > Pages: 137
> >
> > List Price: $45.00
> > If you would like to buy this book, click here.
> > Reviewed by Jim Sweet
> >
> >
> >
> > Ever risk too much on a single trade and lose a chunk
> > of your working capital? Or allowed a small loss to
> > get out of hand...to the extent that it almost wiped
> > you out?
> >
> > If so, you've learned an easy lesson the hard way --
> > it is easier to lose money trading the markets than it
> > is to make it. However sharp your trading "edge,"
> > without proper risk control and money management --
> > you're doomed to fail.
> >
> > Preservation of capital is is the name of the trading
> > game. And now along comes a book -- Eddie Kwong's The
> > Real Holy Grail: Money Management Techniques of Top
> > Traders -- that may finally drive this point home.
> >
> > The theme of this new book is familiar -- winning
> > traders minimizing losses. But Kwong doesn't ask you
> > to take his word for it. He compiles a collection of
> > first-person accounts from some of the world's best
> > traders who share their money-management strategies.
> > Among the many familiar names included are Dave
> > Landry, Mark Boucher, Kevin Haggerty and Jeff Cooper.
> >
> > Apart from introducing each chapter, Kwong lets the
> > traders do the talking. Each trader authors (or
> > co-authors) an aspect of risk control relevant to his
> > particular type of trading. And there is no
> > one-size-fits-all approach to risk control, either.
> > Day, swing and intermediate trading money-management
> > techniques are covered.
> >
> > The book opens with an introduction on loss-control
> > basics, including the three basic approaches to
> > settings stops. Dave Landry picks up the thread in
> > Chapter 1 by explaining the concept of drawdown and
> > offering 17 general guidelines for long-term success.
> > A quick, yet sobering, story of "Three Not-So-Wise
> > Men" is a reminder of what can happen to those who
> > choose to ignore risk-control techniques.
> >
> > Mark Boucher rounds out the overview in with "Three
> > Rules That Will Help You Become A Master Trader."
> > Interestingly, as part of Rule 2, "Consistency Is the
> > Key," he explains what he calls the smoke and mirrors
> > behind annualized returns.
> >
> > Chapter 2 is a detailed discussion of stop-loss
> > placement, including:
> >
> > Volatility based stops
> >
> > Average True range (ATR) stops
> >
> > Historical volatility (HV) based stops
> >
> > Dollar-based stops
> >
> > Pattern-based stops
> >
> > Of particular interest to me were Landry's and
> > Boucher's position management and trailing-stop
> > techniques, made clearer with real-world charts and
> > examples.
> >
> > In Chapter 3, money management techniques particular
> > to different time frames are discussed. Daytrading
> > stop-loss strategy is discussed in a Q&A format with
> > (separately) Jeff Cooper and Kevin Haggerty.
> >
> > From Haggerty: "Intraday trading requires tight stops
> > to be profitable. You are limited by the clock and the
> > daily range of your selected stock. Remember, a pure
> > daytrader goes home flat every day." He then gives
> > specific stop-loss techniques and examples that the
> > reader can put to use right away.
> >
> > Swing Trader? Next up is Dave Landry explaining his
> > "Ten Tenets of Swing Trading," comprised mostly
> > (surprise!) of money-management rules. Loss control
> > and profit-taking for the intermediate-term trader
> > follows, with contributions from Mark Marder and Loren
> > Fleckenstein.
> >
> > Special topics related to money management are
> > discussed next. Among these are:
> >
> > Setting time stops
> >
> > Handling volatile markets (with an appendix devoted to
> > the concept of volatility -- very informative!)
> >
> > Pyramiding
> >
> > Again, the liberal use of charts serves to emphasize
> > the technical aspect of money management and risk
> > control. This book has a definite technical feel to
> > it.
> >
> > Kwong himself closes out the book with a chapter
> > sub-titled (tongue-in-cheek, presumably) "Five ways To
> > Prevent Yourself From Losing Your Mind While Trading".
> > The focus here is on developing the mindset and
> > discipline necessary to apply the the lessons learned
> > in throughout the book .
> >
> > "The Real Holy Grail" is simply the most comprehensive
> > book on money management to date. Highly recommended.
> >
> >
> >
> >
> >
> >
> >
> >
> >
> > --- thombek <thombek@xxxxxxx> wrote:
> > > I could use some wisdom on stop placement and money
> > > management. This book "The Real Holy Grail" seems to
> > > be about those subjects.....
> > >
> > > Before I buy it, has anyone read it and would like
> > > to share a strong opinion on if you found it
> > > worthwhile ???
> > >
> > >
> > >
> >
> >
> > __________________________________________________
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> >
> >
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> >
>
>
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