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Rating: 
Summary: Do not enter the futures game/war without this book!
Review: I only wish I had utilized the statistical tools the author provides earlier in my trading career. However, I did find the book in time. Don't let the reference to statistics scare you. The author uses basic alegebra to aid you in trade selection and risk control. This book may not guarantee you success in trading, but I do believe that if one does not apply the basic money management principles presented by Prof. Balsara, sooner or later, failure in the futures market is almost certain. If you can't name the 5 basic steps of money management, I suggest you stop trading immediately, get this book with a couple of ticks worth of money you'll not be losing while your not trading. Read it a few times, set up your money management spreadsheet and may you trade with clarity previously unknown in your endeavors in the futures market.
Rating: 
Summary: NOT FOUND TO BE QUITE USEFUL
Review: The book contains some basic ideas in the earliy chapters. I was expecting to get something more this for one main reason: It has been found that many novices do not know or care much about money management. It is really the experienced trader, especially the one that has lost their stake completely that then goes in search of money management strategies and usually these people would have already covered the basics somewhere already, with the amount of free literature given by the exchanges and brokerage firms. Estimating "risk and reward" by the use of head and shoulders, triangles, channels is very basic to my understanding and to that of most futures traders. For my personal use, I had found that the chapter on money management found in Larry William's "Definitive Guide To Futures Trading" has been more useful to me than this entire book
Rating:
Summary: NOT FOUND TO BE QUITE USEFUL
Review: The book contains some basic ideas in the earliy chapters. I was expecting to get something more this for one main reason: It has been found that many novices do not know or care much about money management. It is really the experienced trader, especially the one that has lost their stake completely that then goes in search of money management strategies and usually these people would have already covered the basics somewhere already, with the amount of free literature given by the exchanges and brokerage firms. Estimating "risk and reward" by the use of head and shoulders, triangles, channels is very basic to my understanding and to that of most futures traders. For my personal use, I had found that the chapter on money management found in Larry William's "Definitive Guide To Futures Trading" has been more useful to me than this entire book
Rating: 
Summary: A Complete Insight Into Money Management Strategies for FT
Review: While a large percentage of individuals do not achieve financial success in the futures markets, traders who do succeed possess a solid understanding of risk and exercise a disciplined program of loss containment and money management. Nazer J. Balsara's Money Management Strategies For Futures Traders provides a wealth of materials for futures and stocks traders alike. The book is a must-read and a relatively easy-read for those who wish to enhance their risk management sophistication with complex tools and who believe that the best way to survive and prosper in the markets it to contain your losses, play defensively and let profits ride. All trading opportunities are not created equally and part of a trader's job is ferreting out the best markets to trade. The chapter on commodity selection presents four approaches to market selection, based largely on the work of J. Welles Wilder, the father of ADX (Average Directional Index Indicator) and RSI (Relative Strength Index). Here, the book is a good review of Wilder's ADX but focuses on the less-known aspect of his work: the commodity selection index. Wilder's approach uses ADX to identify futures yielding the greatest dollar-value price-moves for a given margin investment, in short, getting you in on the most appealing trades. Balsara also shows the utility of Wilder's price movement index when it is it is not possible to determine or estimate reward, thereby enhancing the analysis and return in mechanical trading systems. Sharpe ratios are also considered as a way of measuring risk-adjusted returns. The text gives useful approaches to managing risk through stop-loss orders by laying out the usage of time stops, dollar-value stops and volatility stops. There is also a presentation on how to survive locked-limit markets by creating synthetic options positions, spreads or offsetting positions in the cash markets. A studied read of this finance professor's work will help traders develop both the skill and the art of disciplined risk-taking.
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