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Before deciding to read a book about playing a numbers game (otherwise known as money management), most people have to be convinced that the information is important enough to be worth their time and effort. After they accept that the reasons are compelling, they must understand what money management is and how this differs from what most traders believe money management is. The next logical question is where to apply money management principles. Are certain markets or methods unsuitable for money management? Do some work better than others do? The trader who knows why it is important, what it is, and where it needs to be applied, next asks, when do I start applying it? Now? Later? After there is a certain amount of profits? After the account enters into a losing time period?
Who should apply money management principles? Isn’t money management for large accounts? Aren’t money managers the only ones who can really use money management principles? Is it just for a certain type of trader? Are stock traders included? Finally, how to apply money management rounds off the basic questions traders most frequently ask about this subject. This chapter answers many of these questions generally; the rest of the book provides the specifics. Fasten your seatbelts, you are about to enter the money management zone!...

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