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Forex Misc - Money Management - Ryan Jones Management Marriage

We live in an age that is dominated by the “I know what I want and I want it now” attitude. It is a time of fast food and quick fixes. A time of self before everything and Me! Me! Me! A rat race of the lowest kind. Keeping up has never seemed more important-a mentality of getting rich quick at any cost. This attitude is also why many people are getting involved with the commodity and futures industry. | PREFACE We live in an age that is dominated by the I know what I want and I want it now attitude. It is a time of fast food and quick fixes. A time of self before everything and Me Me Me A rat race of the lowest kind. Keeping up has never seemed more important-a mentality of getting rich quick at any cost. This attitude is also why many people are getting involved with the commodity and futures industry. Trading can be a powerful endeavor. On the other hand it can also be financially crippling. Trading is a game of risk versus reward. It is also a game that is not forgiving of players who come in without learning the rules. For those with the get rich quick or gotta have it now mentality failure is all but certain. The failure rate of those who attempt to trade in the leveraged markets arena is somewhere around 90 percent. As far as I can tell this means that 90 percent of those who begin trading stop showing a net loss. I have also been told that at any given time 90 percent of the open accounts show losses while only 10 percent of the accounts show profits. These statistics illustrate that getting rich quick in these markets is highly improbable. To make serious money in this environment traders must manage their money. Unless sheer luck intervenes no one will make a fortune in leveraged markets without proper money management strategy. This is the basis of this book. Ryan Jones Colorado Springs Colorado March 1999 ix ACKNOWLEDGMENTS Many people have helped me gain the knowledge to write about money management on leveraged instruments. The information in this book is based primarily on experience-from experience then came research. From my research I developed the methods described here. Therefore 1 want to acknowledge first those who made the experiences possible. When 1 was 16 years old 1 entered a national stock-trading contest with my high school economics class and became very interested in the markets. My first mentor was Mike Benzin a member of the same .