Preparing for the Worst is a famous trading book almost entirely dedicated to the compensations of the downside risk if the financial trading. Like with many other trading books, this one was also written with the stock markets in mind, hence the important role of the portfolio analysis and weighing in the risk management system. In Forex trading portfolios usually don’t exist and can’t be a part of the risk management, but this book has a lot of information to offer to the currency traders. The authors of this book provide strictly probabilistic and statistical methods for analyzing the downside risks of the trading. Some good level of mathematics is required to understand the concepts presented in Preparing for the Worst, but Ph.D. is not necessary.