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Home > The Trading Edges Podcast > Why professional traders don’t measure their performance in dollars and cents w/ Michael Toma
Podcast: The Trading Edges Podcast
Episode:

Why professional traders don’t measure their performance in dollars and cents w/ Michael Toma
Category: Business
Duration: 01:12:33
Publish Date: 2015-09-13 21:33:29
Description: Between all the elements in trading that traders focus on and can focus on, risk management is often overlooked and under appreciated. Today I bring on Michael Toma, who has a long history as a risk manager and a trader, to talk to us about not only the importance of risk management but how risk management has to do with a lot more than just stop management and loss reduction. Mike has a great way of bridging the topic of risk and helping traders understand the applicability of risk management not only to our trading but to the sustainability of your trading business. In the show we talk about - - the 4 areas of risk management - the importance of trader development - why the focus of your trading needs to be on business plan execution - why it’s important to develop key metrics around compliance and to reward yourself for trade compliance and not P&L - why you need to fire yourself as a trader and instead hire yourself as a project manager - the importance of structure in your trading and finding accountability - why Price and your P&L are the 2 biggest distractions to your trading and a really cool exercise on trading using just internal indicators - Mike share’s a great tactic on how to increase the size of your position responsibly As always you can find the show notes, transcript, and resources @ thetradingedge.org/episode9
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