This is the first book of its kind to address the topic of money management for individual traders and to present a comprehensive, detailed plan for implementation. It explains how to create a management program that addresses the emotional aspects of trading, presents an offensive and defensive portfolio allocation strategy, defines risk and shows the reader how to identify risk tolerance. It offers hands-on advice on selecting screen trades using fundamental and technical analysis and shows how to work with an "anatomy of trade."
Trading the Plan
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Book Description
Editorial Reviews
From the Publisher
This is the first book of its kind to address the topic of money management for individual traders and to present a comprehensive, detailed plan for implementation. It explains how to create a management program that addresses the emotional aspects of trading, presents an offensive and defensive portfolio allocation strategy, defines risk and shows the reader how to identify risk tolerance. It offers hands-on advice on selecting screen trades using fundamental and technical analysis and shows how to work with an "anatomy of trade."
From the Back Cover
Trading
The Plan is a powerful instrument to help you achieve control over your financial destiny. It equips you with the tools you need to maximize your profits, control your risks, and, perhaps most importantly, develop a money management program that will limit your losses. In the course of reading this remarkable book, you'll grow to regard author Robert Deel as a trusted advisor who gives you tough, straightforward advice and helps you implement the changes you need to make. And, unlike the "one-size-fits-all" approach of other advisors, Deel shows you how to tailor a strategy that fits your specific needs, goals, and risk tolerance.
Drawing on years of experience as an investment advisor, Deel has packed this book with both detailed practical advice and hard-won wisdom about how trading, investing, and human nature really work. Emphasizing the danger of unchecked losses, he makes the case that a strong money management program is absolutely essential to acquiring and keeping wealth. He examines the many faces of risk and thoroughly explores the key money management questions:
* How much of total available capital should you risk?
* How much do you risk in any one trade?
* How much leverage should you use?
* How can you project losses and preserve your capital?
To help you establish your own money management system, Deel provides a simple but powerful formula --the Direction Discipline Risk Leverage equation --which examines your trading ability and helps you control risks.
In his invaluable "15 Rules of Investology," based on 40 years of trading results by professional and private investors, Deel offers trading and investing guidelines that will spare the reader wealth-draining losses and many sleepless nights. Here is concise, practical information on how to use fundamental and technical analyses to select and screen trades, determine market trends and trading cycles, categorize different types of stocks, and select the computer equipment you need to trade successfully.
In a brilliant summary of all the key features of the trading plan, Deel walks you through the entire trading and investing process from beginning to end. This "Anatomy of a Trade" illustrates all the important decision points in an actual trade and offers a hands-on application of the trading plan to a working example.
For all futures, stock, and options traders, Trading the Plan is an essential field guide for acquiring --and keeping --profits.
Maximize profits, control risks, and limit losses with this total plan for investing and trading
Like no other book of its kind, Trading the Plan gives the individual trader in futures, stocks, and options a superb resource for investing, managing money, and limiting the profit-draining losses that can lead to financial disaster.
"Robert Deel offers traders and investors alike a solid overview of real world trading advice. The subject matter covers everything from the psychology of trading to practical money management techniques. Trading the Plan: Build Wealth, Manage Money, Control Risk is a definite must read for any serious investor." --David C. Stendahl, President, The OEX Trader, Inc.
The Plan is a powerful instrument to help you achieve control over your financial destiny. It equips you with the tools you need to maximize your profits, control your risks, and, perhaps most importantly, develop a money management program that will limit your losses. In the course of reading this remarkable book, you'll grow to regard author Robert Deel as a trusted advisor who gives you tough, straightforward advice and helps you implement the changes you need to make. And, unlike the "one-size-fits-all" approach of other advisors, Deel shows you how to tailor a strategy that fits your specific needs, goals, and risk tolerance.
Drawing on years of experience as an investment advisor, Deel has packed this book with both detailed practical advice and hard-won wisdom about how trading, investing, and human nature really work. Emphasizing the danger of unchecked losses, he makes the case that a strong money management program is absolutely essential to acquiring and keeping wealth. He examines the many faces of risk and thoroughly explores the key money management questions:
* How much of total available capital should you risk?
* How much do you risk in any one trade?
* How much leverage should you use?
* How can you project losses and preserve your capital?
To help you establish your own money management system, Deel provides a simple but powerful formula --the Direction Discipline Risk Leverage equation --which examines your trading ability and helps you control risks.
In his invaluable "15 Rules of Investology," based on 40 years of trading results by professional and private investors, Deel offers trading and investing guidelines that will spare the reader wealth-draining losses and many sleepless nights. Here is concise, practical information on how to use fundamental and technical analyses to select and screen trades, determine market trends and trading cycles, categorize different types of stocks, and select the computer equipment you need to trade successfully.
In a brilliant summary of all the key features of the trading plan, Deel walks you through the entire trading and investing process from beginning to end. This "Anatomy of a Trade" illustrates all the important decision points in an actual trade and offers a hands-on application of the trading plan to a working example.
For all futures, stock, and options traders, Trading the Plan is an essential field guide for acquiring --and keeping --profits.
Maximize profits, control risks, and limit losses with this total plan for investing and trading
Like no other book of its kind, Trading the Plan gives the individual trader in futures, stocks, and options a superb resource for investing, managing money, and limiting the profit-draining losses that can lead to financial disaster.
"Robert Deel offers traders and investors alike a solid overview of real world trading advice. The subject matter covers everything from the psychology of trading to practical money management techniques. Trading the Plan: Build Wealth, Manage Money, Control Risk is a definite must read for any serious investor." --David C. Stendahl, President, The OEX Trader, Inc.
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Most Helpful Customer Reviews
27 of 28 people found the following review helpful:
5.0 out of 5 stars
This is a must read book for a swing traders,
By A Customer
This review is from: Trading the Plan: Build Wealth, Manage Money, and Control Risk (Wiley Finance) (Hardcover)
I love author's DDRL(direction, discipline, risk and leverage) scores. We only buy after FA screen of 3:1 reward to risk,recongnize the definite trend and enter with the gap timing method. We only sell with 10-12% stoploss or lock in profit with rolling up stoploss. I discovred my weakness of trading "let loss run too long and sell winnners way too sooooooon!!! After I analyze my DDRL score, I realized the real problem of me not making money is because weakness although I have a very good trading system which gives me 70% winning odds.Buy this book and read it again and again to control your maximum drawdown
12 of 12 people found the following review helpful:
5.0 out of 5 stars
Basic, but effective,
By "lmm-trader" (Lisboa, Portugal) - See all my reviews
This review is from: Trading the Plan: Build Wealth, Manage Money, and Control Risk (Wiley Finance) (Hardcover)
This book is a paradox. How can just a few simple concepts explained in a somewhat shallow way be 'enough'?Well, i've read books on money management that go too far on systems and techniques that aren't that easy to grasp or implement. This book by Mr. Deel goes a long way on showing you ways to complement your trading system with just a few rules that will keep you alive for many losing trades in a row, if such a tragic situation ever occur. So, don't waste too much time on making a buying decision. This book is for you. If you're into mathematics, this one will leave you wanting. If you just want a simple and effective way to complement a trading system so that you'll be right there for that next trade with enough tradind capital, than this is it. If you trade futures only, look elsewhere...
16 of 18 people found the following review helpful:
5.0 out of 5 stars
great book,
By A Customer
This review is from: Trading the Plan: Build Wealth, Manage Money, and Control Risk (Wiley Finance) (Hardcover)
Being a long term successful trader is about developing and then executing a disciplined plan. This book helped me use my market knowledge and experience to build a strategic framework. Having this plan to follow helps me to minimize the extenal and internal noise associated with aggressive investing and trading and gives me more confidence when pulling the trigger...it's an excellent book!
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Inside This Book
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First Sentence:
Why is it that the majority of individuals lose money in the investment markets while a select few consistently take profits year after year? Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
market trend quantifier, technical decision matrix, first losing trade, allocation portfolio strategies, pivot zone, tactical diversification, variable moving average, total available capital, individual investment vehicles, profit lock, price breakout, decision zones, stop placement, trading plan, investment tactics, tactical allocation, maximum drawdown, trend score, trading objective, consolidation patterns, exponential moving average, exit stop, breakaway gap, exhaustion gap, protective stop Key Phrases - Capitalized Phrases (CAPs): (learn more)
Feb Mar, Equis International, Omega Research, Nov Dec, Wall Street, Investor's Business Daily New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Why is it that the majority of individuals lose money in the investment markets while a select few consistently take profits year after year? Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
market trend quantifier, technical decision matrix, first losing trade, allocation portfolio strategies, pivot zone, tactical diversification, variable moving average, total available capital, individual investment vehicles, profit lock, price breakout, decision zones, stop placement, trading plan, investment tactics, tactical allocation, maximum drawdown, trend score, trading objective, consolidation patterns, exponential moving average, exit stop, breakaway gap, exhaustion gap, protective stop Key Phrases - Capitalized Phrases (CAPs): (learn more)
Feb Mar, Equis International, Omega Research, Nov Dec, Wall Street, Investor's Business Daily New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 13
books:
See all 13 books this book cites
32
books
cite this book:
See all 32 books citing this book
- Trading Chaos: Applying Expert Techniques to Maximize Your Profits (A Marketplace Book) by Bill M. Williams in Front Matter
- Forecasting Financial and Economic Cycles (Wiley Finance) by Michael P. Niemira in Front Matter
- Financial Markets by Robert Kolb in Front Matter
- Option Strategies: Profit-Making Techniques for Stock, Stock Index, and Commodity Options, 2nd Edition by Courtney Smith in Front Matter
- The New Science of Technical Analysis (Wiley Finance) by Thomas R. DeMark in Front Matter
See all 13 books this book cites
- Getting Started in Online Day Trading by Kassandra Bentley on 4 pages
- Better Stock Trading: Money and Risk Management by Daryl Guppy on page 24, page 229, and Back Cover
- Pattern, Price & Time: Using Gann Theory in Trading Systems (Wiley Trading) by James A. Hyerczyk in Front Matter
- Trading 102: Getting Down to Business by Sunny J. Harris in Front Matter
- Profits from Natural Resources: How to Make Big Money Investing in Metals, Food, and Energy (Wiley Trading) by Roland A. Jansen in Front Matter
See all 32 books citing this book
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