The financial markets are insanely complicated, constantly changing, and completely conquerable. That’s right as intimidating as the prospect of entering the trading world might seem, with the right knowledge and a proper understanding of how the markets work, the rewards can be yours for the taking.

Survival Guide for Traders is the essential handbook for individuals looking to start their own trading business from the comforts of home. Becoming–and succeeding as–a trader is hard enough, and can be even more difficult for those who choose the stay-at-home route, but it certainly doesn-t have to be. The biggest stumbling block for people looking to launch their own trading business is their failure to understand the complexities of the “back office” operations that are essential for success. There is far more to being a trader than meets the eye, but once you come to understand how trading works for the biggest firms, you’ll be ready to build a business that will last.

Survival Guide for Traders is here to teach you the essentials you need to get started on the path to lasting success as a home trader. Packed with strategies for building a profitable home trading business and the answers to questions most up-and-coming traders would never think to ask–including topics like how to create a trading business plan, set up an office, implement a trading system, use margin, deal with legal and financial issues, and keep appropriate records–this book has it all.

The must-have guide for anyone entering the exciting world of trading from home

The financial markets are insanely complicated, constantly changing, and completely conquerable. That’s right—as intimidating as the prospect of entering the trading world might seem, with the right knowledge and a proper understanding of how the markets work, the rewards can be yours for the taking.

Survival Guide for Traders is the essential handbook for individuals looking to start their own trading business from the comforts of home. Becoming—and succeeding as—a trader is hard enough, and can be even more difficult for those who choose the stay-at-home route, but it certainly doesn’t have to be. The biggest stumbling block for people looking to launch their own trading business is their failure to understand the complexities of the “back office” operations that are essential for success. There is far more to being a trader than meets the eye, but once you come to understand how trading works for the biggest firms, you’ll be ready to build a business that will last.

Survival Guide for Traders is here to teach you the essentials you need to get started on the path to lasting success as a home trader. Packed with strategies for building a profitable home trading business and the answers to questions most up-and-coming traders would never think to ask—including topics like how to create a trading business plan, set up an office, implement a trading system, use margin, deal with legal and financial issues, and keep appropriate records—this book has it all.

Risk control tends to be the last thing that most traders focus on, perhaps because of the popular belief that it’s their trading strategy that will generate great fortunes. But ultimately, a strategy alone won’t create riches. A trader or investor needs to develop discipline, a strong financial psychology, and a sound money management system to maximize profits and keep them out of financial danger. In A Trader’s Money Management System, veteran trader Bennett McDowell offers readers an expert guide to the most important elements of money management in trading.

McDowell shares his personal money management system, with the ultimate goal of helping you design your own system, customized to fit your risk tolerance, your experience level, and financial needs. He identifies the six types of risk to consider every time you make a trade—trade risk, market risk, margin risk, liquidity risk, overnight risk, and volatility risk—covering each in detail.

In easy-to-understand terms, the author then breaks down his system into five key elements. He first explains the psychology of risk control, telling what issues to look for and how to address them in order to more effectively implement your money management system. McDowell then details a variety of stop-loss approaches and gives you tips on how to make sure you adhere to them when they’re hit. He follows with a discussion of trade size, showing how to determine how large or small your trade size should be so that you are not overextending your risk. McDowell then covers the crucial element of record keeping, and explains how it pays significant dividends. Finally, he shows how to design a realistic personal plan—one that you will continue to use and profit from.

This book also equips readers with two valuable tools: A one-month free trial of Trade Size Calculator software and The Trader’s Assistant recordkeeping materials. The trial Trade Size Calculator software is downloadable at www.traderscoach.com (see Appendix A for details), and The Trader’s Assistant recordkeeping materials can be photocopied directly from the book. These two tools complement the text and together provide a complete package that will deliver better results to your bottom line.