Mastering Risk

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angler

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Post Number: 149
Registered: 12-2002

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Votes: 0


Thursday, July 17, 2003 - 03:52 pm:

Hi All,

Just picked up a book called "Mastering RISK " by Mike Lally ( an Aussie book )

A few of the chapters include :-

Risk and Reward models
Volatility and Risk
The equations of Risk
Position size is everything
Risk strategies
Stop that Loss at once

Wondering if anyone has read this one yet.

regards
Angler

indos

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Post Number: 12
Registered: 01-2003

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Votes: 0


Thursday, July 17, 2003 - 04:34 pm:

Angler
I have read it and although there are a few nuggets a lot of it was what you would read anywhere else.
I thought his total approach was over complicated.In the real world there comes a point where you have to make a decision - it is impossible to eliminate risk entirely.
Id be interested in what others think.The book has been out for at least 12 months so a few should have read it.
Cheers
Indo

angler

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Post Number: 150
Registered: 12-2002

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Votes: 0


Thursday, July 17, 2003 - 08:33 pm:

Hi Indo,,

Thanks for your opinion,,yes I guess nothing really changes with the topic but from first glance looks like it may contain info that you would find in different books compiled into the one.
After I have a read will let you know what I think of it.

Regards
Angler

staybaker

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Post Number: 20
Registered: 03-2003

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Votes: 0


Saturday, July 19, 2003 - 06:44 pm:

I've read this ... I have an interest in risk management, and on a quick "flick through" in the bookshop thought that it looked interesting, and bought it.

However, the reality soon set in. There is practically nothing here that you haven't read a dozen times in other, better, books. In terms of risk management, the coverage is shallow and rarely gets beyond "keep your trade risk to 2% of capital". Certainly nothing here that will enable you to "master" the subject! The writing style is unfocussed and repetitive, and the book is edited poorly (as are most of the books put out by Wrightbooks).

In summary, you will learn very little about risk management, and your money would be better spent elsewhere.

Having said that, I have yet to find a *really* good book on risk management for traders, so if anyone has any suggestions, let me know!

Best regards, Staybaker.