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Van Tharp - Trade Your Way to Financial Freedom

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Thanx for that Shane

Downloading it now
 
Funny thing about Van Tharp is he failed so badly at trading, but his opinions about how to do it are held in such high regard!!

His book is in my case and it was a great read very mind opening!
 
At risk of sounding all philosophical I think it will serve anyone well to identify what it is they're good at (and not good at). Van Tharp's wasn't trading per se, but he wrote a killer book on trading.

I read Richard Farleigh's book recently:

http://www.moneybags.com.au/default.asp?d=0&t=1&id=5080&c=0&a=74

...and in it he explicitly states that he makes a better coach (business angel) and that is why he's an investor and not a business owner.
 
agree gorilla.

The old saying become an expert in something, is very true. While having a broad knowledge of most things of interest I find that this helps to weed out that which doesnt suit you,and opens doors to areas which could be worth the time and effort to become proficient.---a personal call of course.

Shwagger was another who wrote many books but as a futures trader evidently failed.
 
Totally agree with this:
"Become an expert in something"
 
Bronte said:
Totally agree with this:
"Become an expert in something"
Click to expand...

Dear Bronte,

Reading Van Tharp 10 yrs ago was a revelation to me, not surprised he traded poorly, interesting and I keep some of his adages in mind when I trade myself now. Its a cumulative experience trading, and humility is a good starting point.

Garpal
 
wonder how you all run with those guys who cant even trade.

and you want to buy a trading strategy from them?

thats what happens: if you cant trade, you can always write books and teach people how to trade haha

I would think you learn from succesful people...........
 
yonnie,

What you write makes complete sense, but unfortunately in the real world its not always the case that those who are the best traders are also the best teachers. In any case, the book Trade Your Way to Financial Freedom is a gem. If you can get past the marketers title you will find a great book on the science of trading.
 

Hope this makes sense but here goes anyway:
I also sometimes find that you can still learn things off people who weren't "experts" or super sucessful, as they know a lot about the mistakes and pitfalls. They may not have been the best at fixing these mistakes or navigating the pitfalls etc themselves, but can quite often give good advice or theory on them that other people can use to good effect.
 

Agree.
I took alot out of Van Tharps book as well.
 
nizar said:
Agree.
I took alot out of Van Tharps book as well.
Click to expand...

My first time writing here after reading for a while.

I also agree. Tharp's book was the single most important factor that showed me how to go from being an inconsistent unprofitable discretionary trader with no idea to a successful strategy trader.

Of the posters on this forum I relate most strongly to Tech/a, Stevo and (I think) MichaelD. It appears to me they also learnt the same lessons whether from Tharp or other sources. Though by the glowing accounts on this forum it looks like I should also read Nick Radge's book.
 
I to have ploughed my way through Tharp's book. Well worth the effort though.
However if took as long to make a trade as he does to get to the point in his writings, I'm not too surprised he was not so good as a trader. Yes do read Nick Radge's book especially the sections prior to the charting.
 
there are still plenty of succesful traders/writers out there:
darvas (my favorite), elders, turtles, that canslim writer etc

so Van Tharp is collecting well-known stuff and is good at making a better story out of it than most
 
I wonder where the story comes from that Van Tharp failed as a trader. I also bought the second edition of TYWTFF and I bought his "Electronic Day Trading" (not worth it). He mentions that he still trades. Is there any actual evidence to support the story that he failed?
 
Thanks Nick. I didn't mean to imply that he was short-term trading. That was just worded ambiguously. I just meant in his books he says he is still trading.
 

I don't know if you got the series here but the UK version of Dragons den has had Richard Farleigh on for the last series, worth downloading if you can find it as I thought he was the best one on it. He's been binned off for the next series due to upsetting the other dragons though
 
well there you go folks

Van Tharp made heaps of money out of selling his books and courses and investing that in property and long-term securities - geez that guy must be a real smart business man.........wonder if I should throw in the trading as well and write.................????
 
yonnie, that's a simplistic conlcusion. My statement did not say that's where he made his money. I said that is what he is currently doing. He may well have made his money from trading and used that vehicle as cash flow for his current investment activities.
 
Nick Radge said:
I was chatting with Van a few months ago. I'm not sure he's doing a great deal of short term trading. Most of his stuff is very long term but using a 25%trailing stop loss. He also has a very significant property portfolio.
Click to expand...

From reading his blog I'd also say he's playing a good deal of poker!
 


yeah nick, I know.......just having a laugh
sorry
 
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