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Risk Management in Gambling and Forex

April 29, 2008 (Last updated on April 17, 2010) by

There are many similarities between the money management strategies in the gambling and the Forex trading. In fact there are too little differences between money management in any risk-based money making. Of course, that fact doesn’t mean that Forex market is a casino and traders are gamblers, there are many other properties that define Forex from the gambling industry but that’s another story. I’ve uploaded a new ebook to the site today — Money Management in Gambling. Actually it’s just a section of one book written by Dr. Edward O. Thorp (The Mathematics of Gambling), who was one of the first to introduce high mathematical theories into the professional gambling. His take on money management can be used no only in gambling but also in any financial trading. With the abundance of tables, formulas and examples Thorp explains the most basic and the most useful aspects of money management and risk-wise bet positioning.

Update: Had to remove this book as the copyright holder is against sharing of it.

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