Risk Management for Traders and the Taming Risk eBook

This past week I had been sharing some materials made available by Norman Hallett from The Disciplined Trader.

Norman, and his wife Tisha, have carved out a niche for themselves as authorities on trading psychology and trader discipline and are the publishers of The Disciplined Trader Mastery Kit. They will be releasing the home study version of their course in the coming days, but in preparation for its release they wanted to share a few items that reveal some of what they do and that provide insight into how a trader can go about implementing risk management and discipline into their trading regimen.

What you eventually learn as a trader is that there are no real secrets and no "holy grails," but there are insights and knowledge that can make a real difference in a trader's performance.  Of course, Norman and Trish possess many of those insights and they share some of them, and their knowledge, in these free giveaways.

The concepts revealed will be familiar to anyone who has spent time with me as an active subscriber to my Trading Room service.  There we routinely discuss things like keeping a trade journal, about being patient and not jumping into questionable trade setups, about achieving a positive expectancy of profit, and about limiting losses to a level that does not prevent you from earning back those losses in a short period of time. Taming Risk eBook

In the eBook, Taming Risk, Norman and Tisha cover the basics of risk and money management and provide a foundation for money management rules.  Money management profit-and-loss strategies are revealed and differing types of risk are discussed.  They even break the discussion down to draw out differences between implementing risk management when trading equities versus options. The final couple chapters wind up the discussion with a review of those actions required of a trader to reduce risk and of the trading psyche.

An appendix is also included that helps you establish your Investor-Trader profile so that you might use it when designing your portfolio mix and choosing trades or investments for your portfolio.

A lot of work went into putting the report together and the fact they are willing to provide it to us at no cost is a reflection of how confident they are in the quality of the course they will be releasing in the next few days.

I have been acquainted with Norman for nearly ten years now and all that time this has been his passion. While his early products were good his continued hard work has produced results. Not only was an eBook released this week, but Norman had interviewed something like 1,700 traders and used the data he gathered to help develop course material.  Three of the more common problems revealed during his research were addressed by Tisha in short audio segments.  In those audio files, which you can download, she shared:

  • How to "pull the trigger" without hesitating;
  • How to take losses in a disciplined manner; and
  • How to prevent the big "blow out" trading loss.

These are really neat insights and a terrific companion along with the Taming Risk report.

Download the Taming Risk eBook

Download the Tisha Hallett's Audios

These items will not be available indefinitely, as they are expected to be withdrawn after the home study course is released.  So, grab them while you can. If you do miss out, you are always welcome to join me and your fellow community members in my Trading Room.  We implement similar concepts every trading day to limit and manage risk within out accounts. Thank you for being part of the community!

Christopher Smith
TheOptionClub, LLC

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