资金管理特别报道.docx

PAGE 1 TITLE: Money Management Special Report Forward Perhaps the greatest secret to top trading and investing success is appropriate money management. I call it a “secret” because few people seem to understand it. I including many people who’ve written books on the topic. Some people call it risk control, others call it diversification, and still others call it how to “wisely” invest your money .However, the money management that is the key to top trading and investing simply refers to the algorithm that tells you “how much” with respect to any particular position in the market. There are many psychological biases that keep people from practicing sound money management. In addition, there are also practical considerations, such as not understanding money management or not having sufficient funds to practice sound money management. I’ve written this special report to give you an overall understanding of the topic and show you various models of money management .Enjoy the journey its potentially the most profitable journey you will ever take. The material is quite complex, despite an attempt to make it simple. However, you’ll find it well worth your while to go through all the examples until you have mastered it. Van K. Tharp, Ph.D. Part I Money Management Defined In my opinion, money management is the most significant part of any trading system. Many professionals, and most amateurs, do not understand how important it is. In fact, I recently attended a seminar for stock brokers that detailed a particular method of investing that they could use to help their clients. While the seminar as a whole was terrific, the topic of money management, as I’ve defined it here, was not even covered. One speaker did talk about money management, but I could not fit what he was talking about into this discussion at all. At the end of, his talk, I asked him, “What do you mean by money management?” His response was, “That’s a very good question. I think its how one makes trading d