Limiting Losses and Reaping Rewards on Australian Markets
This book is concerned with what Mike Lally regards as the most important part of investing, managing risk, sometimes known as money management. You need to devise a totally rigid and disciplined approach to minimise losses before you being to start dreaming about striking it rich.
Components of risk such as: a grasp of risk management, risk-reward ratio, maximum risk per trade, stop loss strategy and psychology of adjustment after losses. Readers are encouraged to put together a risk control plan that includes all of the above.
