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David Waring (InformedTrades.com) is the one that got me turned on to Dr. Elders "Trading for a Living". By the time I got to the book, I had already discovered much of what he said. My 'mentor' I suppose you could say in regards money management was Larry Williams. But it cannot be overstressed. Money management are literally the keys of the kingdom.
Was just talking with David Waring of InformedTrades.com on this topic recently. It seems the 'money management' sermon is getting to newer traders, sooner. When I started back in 1996, new traders never heard a thing about it. I had been trading real money for like, 2 or 3 years before I had even heard the words "money management". I wonder what impact this will have on the markets overall? If ones have the discipline to follow through on money management principles, the first thing that comes to my mind - is a less volatile market.
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