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Van Tharp Books


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Van Tharp Books

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  #1 (permalink)
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Hello all,

I am planning to buy one of Van Tharp's books because I am specifically interested in his philosophy on position sizing. I saw that many of you have recommended his book, "Trade your way to Financial Freedom" here on the forums. I see he has a newer book out though called "Super Trader: Making Consistent Profits in Good and Bad Markets". Has anyone read both and can make a recommendation as to which one is better? I will probably just end up getting both but would appreciate any insight.

Thanks!

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  #2 (permalink)
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Hi Dusty,

I read the first one and liked it. I am about to buy the second one you mentioned too and look forward to it.

Super Trader: Make Consistent Profits in Good and Bad Markets, by Van Tharp



Also, I've moved this to the Money Management forum, since I think Van Tharp would want that

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  #3 (permalink)
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I have both. Read the first, then the second.

If you only have money for one, read the first.

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  #4 (permalink)
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Hi all,
I just finished "Supertrader" and found it quite good. It covers a lot of criteria (similar to futures.io (formerly BMT)'s trading forums) and his writing style is easy to read. I'd recommend this book. It has wet my appetite for more information on what he calls position sizing. This is covered in another book called "Definitive Guide to Position Sizing" which is currently a $120 touch.

Meggs
PS Hey Mike - great forum you have going here. M

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  #5 (permalink)
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Thanks guys, I did end up buying the first one and thoroughly enjoyed it. I particularly found his discussion about how relatively unimportant "entries" are compared to the rest of the trading system, considering that is what 99% of people focus on the most.

Meggs - I just ordered the "Definitive Guide" from his website but won't be here for a couple weeks. Yes, it was a bit pricey but will hopefully be worth it!

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  #6 (permalink)
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Hi

I have read the first and flicked through the second in a bookshop. The supertrader book, to me, is a much lighter weight book. If you want the meat of his ideas then TYWTFF is more appropriate. if you want an intro then supertrader is good.

I recently read some posts on the trading blox forum about the random entry system, mentioned above, that Van Tharp talks about in TYWTFF and they pointed out some problems with that system - can't remeber exact details or link but it is worth searching for it for an alternative opinion.

I also bought his new position sizing book - expensive (only available thorugh the ittm website I think). Filled with interesting ideas. But a certain ammount of recycling of ideas from TYWTFF and a little disjointed - nothing really tying all th eideas together. He also had to issue a big addendum afer publication as a lot fo the calculations were incorrect - that kind of lack of attention to detail makes me wonder.

I am considering the much more expensive Peak Performance stuff (which, was his original work). However, am a bit concerned that there won't be a lot new in it. To me, Van overdoes the upselling thing a bit.

I find all of Van's stuff interesting but a little all over the place. I think I find it lacks an overarching single focus or something.

On balance, though, I have benefited from reading his stuff - especially for introducing me to position sizing and persuading me to work at the psych aspect. (Credit where credit is dueI was first introduced to Van Tharp and position sizing by the guys at mtpreditor.com).

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  #7 (permalink)
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Svuhmed- thx for ur post. I know it'a a long time since ur post. I was wondering what u'v concluded about Tharps work, courses & or home study courses..if u'v tried any. I'm halfway through Super Trdr [I haven't tried anything else of his yet.
I got MTP a couple of months ago...still paper trading since i haven't yet gotten profitable on a consistant basis yet.

How do you find MTP?

I was wondering if my MTP use would improve after trying one of his home study courses.

thanks

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  #8 (permalink)
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I think the major benefit I got/am getting from the peak performance home study course is to appreciate the importance (for me anyway) of getting the mindset right and was what finally induced me to go and work at that aspect properly. I did learn some interesting things from it which are/will be helpful. I have recently gone back to Maxwell Maltz Psychocybernetics book and am finding that approach more directly helpful than Van Tharp's. However, I suspect the PPC has helped me see Maltz's approach in a light that made me actually apply it this time.

I find Van Tharp's stuff a little rambling and disjointed. It is possible that this is a deliberate teaching ploy on his part (kind of like that infuriating - but admittedly effective - approach to teaching that involves answering every student question with another question). It is also possible that crystal clarity is not one of Tharp's strengths. Either way, I am glad I purchased it and have benefited a lot from it. It is still on my desk in front of me.

As for mtp, I still think it probably has a lot of good in it. But, for me, there are holes that I am only now starting to fill from other sources. I am about to purchase the modus trading course which is linked to the trading blox software (google the terms for more info). This more automated systematic mechanical approach to trading seems to suite me better than the partial discretion that the mtp approach requires. The trading blox forum, in particular, seems to be a masterclass in trading - look for posts by sluggo, Forum Mgmnt and Tim Arnold in particular. The whole forum seems to be populated by skilled, experienced professionals from the trading arena.

Again, these are comments from someone who is not there yet - but a lot closer than I was when I wrote my previous posts - so take them in that light. I am realizing the truth of what I have read many times - not least from Van Tharp - the trading system I have must fit me. I may have to go through many failed attempts to find that system - but the rewards in terms of lifestyle and income at the end are, for me, worth sticking at it.

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  #9 (permalink)
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I've read both TYWTFF & Super Trader a few months ago and really enjoyed them.

TYWTFF 2nd edition is a good staple and a must read in my opinion. It can be an eye-opener, even if you think you know everything about trading, money management and psychology.

Super Trader really helped me (re)discover the importance of money management and the crucial psychological aspect of trading. Even if most of you fellow traders on this community are stressing the importance of this topic, I was still resistant to commit myself to the task.
And I'm now fully open to the golden content of the "Psychology and money management" thread and I am now spending most of my free time working on the improvement of myself, both as a trader and as a man. And it really changes my life for the better.

So, if you're not convinced of the truth of how important money management and psychology are, then I think you should read these books and find your way to improve yourself, with the support of the community.

Thanks to all of you.

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  #10 (permalink)
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I've recently read these VKT books and found them quite good materials, anyone have any views on his newer one, Trading Beyond the Matrix?

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  #11 (permalink)
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Finished reading Trading Beyond The Matrix few months back

Section I & II materials on Tharp Think and Psychology should be familiar with those who have read Super Trader, Peak Performance Course and older VT's books

Section III materials go beyond and discussed about raising our own consciousness and connecting to our own divine. Guess this section may not suit everyone.

Good thing I like about the book is at the end of each section there is a check list for items discussed for easy reference and a summary to work on.

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  #12 (permalink)
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garfieldalvin View Post
Finished reading Trading Beyond The Matrix few months back

Section I & II materials on Tharp Think and Psychology should be familiar with those who have read Super Trader, Peak Performance Course and older VT's books

Section III materials go beyond and discussed about raising our own consciousness and connecting to our own divine. Guess this section may not suit everyone.

Good thing I like about the book is at the end of each section there is a check list for items discussed for easy reference and a summary to work on.

Much appreciated. Tharp does have a good writing style it does come across clear and he's good in structuring his books in a logical way compared to other authors. although section3 is probably a bit too much on the psychology side for me. Well it was his research area I suppose. :-) thanks again for the review. I think I'll take a look myself based on your feedback.

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  #13 (permalink)
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Hi,

I have recently finished Trading Beyond the Matrix,

for my taste, Tharp's other publication were better (Super Trader, TYWTFF). I really want to get my hands on Definitive Guide to Position Sizing Strategies, which seems to be very comprehensive.

Cheers,

Totantaz

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  #14 (permalink)
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Big Mike View Post

Super Trader: Make Consistent Profits in Good and Bad Markets, by Van Tharp

This is a rather rare trading book, as it is one of the few that talks about the spiritual dimensions of trading and life.

"The mind is its own place, and in itself can make a heaven of hell, a hell of heaven." - Milton
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  #15 (permalink)
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totantaz View Post
I really want to get my hands on Definitive Guide to Position Sizing Strategies, which seems to be very comprehensive.

I also wanted to get this at some point but the price of the book is beyond ridiculous. It's currently on Amazon for $449. Plus it is not available on kindle.

No thanks.

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  #16 (permalink)
Market Wizard
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I also wanted to get this at some point but the price of the book is beyond ridiculous. It's currently on Amazon for $449. Plus it is not available on kindle.

No thanks.

From his site it cheaper (249$) but yes still one of the expensive books I have seen.

Van Tharp Products & Services

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  #17 (permalink)
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Yeah i saw the book on his website, althought i'm not sure about the Shipping arrangements to Thailand.

i will have to get in touch with them.

Cheers,

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  #18 (permalink)
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I wonder if anyone planning to read Van Tharp's books, or Ryan Jones' books, or any book by any author on money management, to actually go to Amazon and have a look at the negative reviews (3 stars, 2 stars, and 1 star reviews) before even considering buying.

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  #19 (permalink)
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+1

All the main ingredients are in his book trade your way to financial freedom.... Trading other peoples money was one of his best nuggets from his more recent books. You are alot more dicipline when you trade other individuals money...

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  #20 (permalink)
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I wonder if anyone planning to read Van Tharp's books, or Ryan Jones' books, or any book by any author on money management, to actually go to Amazon and have a look at the negative reviews (3 stars, 2 stars, and 1 star reviews) before even considering buying.

I admit I didn't do this (although I ordered the book from Amazon) before originally reading Van Tharp's Trade Your Way to Financial Freedom: I bought it without reading reviews, just on the personal recommendations of two traders I trusted and knew to be successful.

Reading through its one-star reviews now, having read your post above, I'm so glad I didnt, because I suspect they really might have put me off, which would have been a huge disadvantage to me, because it was one of my "all-time-greats" among trading books, albeit at a beginner level, a long time ago, now.

Funnily enough, I normally do read the 1* reviews before ordering anything, too. It's sometimes interesting to see whether the comments in them put me off, or not. (Occasionally, they can actually encourage me). This book's 1* reviews are a strange mixture. Some of them are clearly written by people who expected the book to be something completely different from what Amazon's product-description says it is; some clearly arise from personal animus of some kind; some were posted by people who have never reviewed any other book there at all; some were posted by people who take some delight in compiling bad reviews; but some fall into none of those categories and it's hard to see that they could fail to be off-putting. It really makes me wonder whether some reviews of trading books are motivated purely by malice and/or resentment.

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  #21 (permalink)
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Risk management and dicipline are king...His books give you that. Most people want the secret sause or magical indicator. I think that may have something to due low ratings.

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  #22 (permalink)
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Fyi, Dr. Tharp is currently offering a print version of Trading Beyond the Matrix for free (you only pay for shipping). Here's the link:

http://http://www.vantharp.com/matrix-free-book-check-out-page.asp

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cornfedlifer View Post
Risk management and dicipline are king...His books give you that. Most people want the secret sause or magical indicator. I think that may have something to due low ratings.

I just finished my first pass through "Trade Your Way to Financial Freedom". Have you read that one yet?

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  #24 (permalink)
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Hi All,

If anyone would like to sell me a cheap second hand copy of Tharp's "Definitive Guide to Position Sizing", please PM me !!

Thanks so much,

Wave

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  #25 (permalink)
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I have read "A definitive Guide to Position Sizing". I do not own a copy. From memory, a lot of it was academic hogwash. Lengthy sections on portfolio heat methods worked out by the old trading legends he knew. A lot more that would be relevant if you were ruining a small prop outfit. I didn't get much that related directly to me as an individual systematic trader that wasn't in his other books.

So yes, being aware of the price I was expecting some movie magic special effects sort of trading enlightenment cloud issuing out of the book to change my life forever! Did not happen.

There was one thing though that was helpful. I had been using an ATR moving stop so I was always uncertain in my calculations. He said in the book that if you move your stop don't use initial R, instead use the average R you experience in your trades. Same answer as in his other books for what if you don't know your initial R.

This confirmation of what I was already doing (using average R) gave me confidence in my calculated system quality number.

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  #26 (permalink)
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His books are great >>> but the COURSES ARE BETTER.

They are really much much better to do them in person. REALLY.


I hate to say it >>> but it is true.


In the workshops you interact with real professional traders doing cool things and going thru exercises for mental and emotional joy and higher performance.

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