Diary of a Professional Commodity Trader by Peter L. Brandt

Diary of a Professional Commodity Trader by Peter L. Brandt

Author:Peter L. Brandt
Language: eng
Format: epub
ISBN: 9780470947265
Publisher: Wiley
Published: 2011-01-13T16:00:00+00:00


Points to Remember

The Factor Trading Plan consists of three major components, each with important subcomponents:

Preliminary Components

A personality and temperament consistent with speculative markets

Adequate capitalization

Overall risk management philosophy and principles

Trading Components

A method to identify candidate trades

Guidelines and rules for entering trades

A framework for managing the risk in each trade

Procedures for determining how to take losses or profits

Personal and Character Components

The intangibles of intimacy with the trading plan, discipline and patience

An information feedback process for analyzing results and making course corrections

The leap of faith



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