Mastering Risk: Limiting Losses and Reaping Rewards on Australian Markets

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Mastering Risk is concerned with what Mike Lally regards as the most important part of investing ?risk management (sometimes known as money management). You need to devise a totally rigid and disciplined approach to minimising losses before you begin dreaming about striking it rich. Readers are encouraged to put together a risk control plan that includes a risk-reward ratio, maximum risk per trade, stop loss strategy and a psychology of adjustment after losses. Author Mike Lally has degrees in pure mathematics and applied science. He has been a full-time private share trader since leaving the corporate sector five years ago.