June 2013
Beginner
481 pages
9h 41m
English
Content preview from Learn How to Trade Options (Collection)
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5. Risk Management
“Nothing is more difficult, and therefore more precious, than to be able to decide.”
—Napoleon Bonaparte
“However beautiful the strategy, you should occasionally look at the results.”
—Sir Winston Churchill
Risk management is a topic everybody wants to know about in as much detail as possible. Unfortunately, this chapter cannot explore every type of risk management for every kind of trade. That is not the goal here. Thinking about trading is also thinking about risk; risk is another word for loss and involves how you understand, prepare, and manage losses when they happen.
Responsibility in Trading
The first lesson is to not listen to other traders about what they do or, more accurately, what they claim to do. Traders don’t ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.