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Trade Your Way to Financial Freedom| Media: | Hardcover | | Author: | Van K. Tharp | | Publisher: | McGraw-Hill | | Release date: | 01 December, 1998 | | List price: | $29.95 |
| Our price: | $19.77 that is 34% off! |
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| Trade Your Way to Financial Freedom |
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Average rating:  |
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Read and keep |
| This book, and a few others, are the type you NEED to read and KEEP. It may not have all the answers and doesn't proport to, but as you develop your understanding of the markets, it is this qualitity of information that will allow you to retain the proceeds of your efforts. IF you think you know about risk management and haven't read Van Tharps books - its likely that you should reconsider. |
| Trade Your Way to Financial Freedom - Van K. Tharp |
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This book isn't about trading as trading is perceived. |
| I've been trading for about 20 years and I think the book is good. I have already used some of the concepts over the years and they work. It does help greatly if you trade in the same direction as the general market and to diversify into as many un-correlated markets as possible. Low risk entries can be found using simple chart analysis and common sense. But, there is nothing magical about charts, in the end, ALL entries are mere guesses. Stop loss protection is what makes the money. |
| Van K. Tharp - Trade Your Way to Financial Freedom |
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I was living (trading) in the dark! |
Before I read this book. If you want to trade for a living, this book is ABSOLUTELY essential. Dr. Tharp opened my eyes on the basic math and probabilities involved in developing a profitable trading system. Did you know that you can be profitable even if most of your trades are losers? Did you know that you can be losing money even if most of your trades are winners? Did you know that the most important part of your system is not entry (chart setups), but your strategy for position sizing and your exit strategy? Did you know that depending on your position-sizing model the same system can be very profitable, barely profitable and ruinous? Did you know that there are 6 variables that determine profitability of any trading system? They are 1) probability of successful trades; 2) relative size of profits compared to losses; 3) cost of trading; 4) frequency of trading (trading opportunities); 5) the size of your capital compared to average trades; 6) position-sizing strategy;
Read this book! Stop doing whatever you are doing, because you are probably just wasting your money without understanding the basics of developing a profitable system. |
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