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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
modity and futures industry. Trading can be a powerful en-
deavor. On the other hand, it can also be financially crippling. Trad-
ing is a game of risk versus reward. It is also a game that is not
forgiving of players e in without learning the rules. For
those with the “get rich quick” or “gotta have it now” mentality, fail-
ure 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
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 with-
out 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 re-
search. From my research I developed the methods described here.
Therefore, I want to acknowledge first those who made the experi-
ences possible.
When I was 16 years old, I entered a national stock-trading con-
test with my high school economics class and beca