It’s an old truth (and you’ve probably heard it many times), but it’s worth repeating, that investing success or failure depends mainly on psychology and up to 90% of investors fail because of this error.
Dr. Van K. Tharp and many market wizards (like Ed Seykota and Tom Basso) in 1990, all agreed that trading psychology contributes to 60% of success, while money management and trading systems only contribute 30% and the remaining 10% respectively.
However, 20 years later, when publishing the book “Super Trader” in 2010, Van K. Tharp said that a trader’s success is 100% due to psychological factors. Dr. Tharp’s philosophy on this subject is that you don’t trade the market, you trade your beliefs. This means that the way we invest is shaped by our own beliefs. Accordingly, the quality of investors’ thoughts and beliefs about trading will translate directly into their profits.
Therefore, the prerequisite to becoming a good investor is to improve yourself, from cleaning up the “junk” in your mind – useless, obstructive beliefs; to understanding yourself, replacing it with useful beliefs, mastering your psychology, or even higher, trading mindfully.
After completing this first step, readers will use the subsequent lessons in “Super Trader,” to approach trading as you would a business in a practical and systematic way. Specifically, you will learn how to:
All of these things will help you create a sustainable, above-average source of money, regardless of market conditions.
In addition, the appearance of trading tiger Sam throughout the book helps “Super Trader, Expanded Edition” reduce the dryness that often occurs in books that are more technical, so that readers can easily absorb it. The core knowledge mentioned in this book.
In the unique arena of professional trading coaches, Van Tharp stands out as an international leader in the industry. Dr. Tharp founded the Van Tharp Institute. His techniques for producing great traders are some of the most effective in the field.
Dr. Tharp devised unique learning strategies, and his risk-management work in the area of Position Sizing is known throughout the trading industry. His publication The Definitive Guide to Position Sizing Strategies is now available on Amazon and via Kindle.
Over the years, Dr. Tharp has helped people overcome problems in areas of system development, trading psychology, and success-related issues such as self-sabotage.
His numerous books include Trade Your Way to Financial Freedom, The Definitive Guide to Position Sizing Strategies, Super Trader, Safe Strategies for Financial Freedom, and Peak Performance Trading (5 Volumes), among others.
Tharp’s Peak Performance Home Study course is now available on Amazon and via Kindle.
“Excellent book to say the least. There are no other books like it, as I have already searched. Dr.Tharp gives a very deep outline of what it means to be a trader, and shows what it takes, pulling no punches. His explanations are very clear and simple, and as in depth and critical as a book on neurosurgery. If you are serious about trading or investing do not question this, purchase this book immediately, being reading it, and take it seriously.
One of the most profound insights that I have learned is, take total responsibility for your life. At first this was a very big and overwhelming concept for me, but gradually, I took it on. As I did, I found I had more and more power in my own personal life. Then I found I started to, not just have power, but have influence over the outcomes in my life. Presently, after applying this idea for several years now, I feel I do not just have power, but no matter what happens next, I know I will succeed. I feel I have a level of control in my life that emerges from within me as a source of strength. It makes no difference what the markets do.
I will adapt to them changing, and I will adapt continuously. I will always find a way. I know what’s constant is me. Where I am today in my journey is; I am discovering that the more open and unresisting I remain, the more I can adapt to the Universe. This gives me access to a bank-account that springs from that Universal Flow. Thus, I am an endless supply of abundance. In this case, for me, that abundance is equal to money. In other words, in plain and simple English; doesn’t matter what the markets do, I’m in a state that I can always make money, and I am the source of that state. Thus I am responsible for my life, and creator of my experience of it.”
An other review: Great book for understanding systems and trading psychology
See more on Amazon: https://amzn.to/3Vd44Qm
Thank you for reading
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