Super Trader – Van Tharp

Become a Trader.

Dr. Van K. Tharp is the best trading coach around. The formula for succeeding in a field where most people fail is provided by Tharp.

Combining the sharp insight and technical brilliance that have drawn legions of investors to his books and workshops, Tharp provides aholistic approach to becoming a successful full-time trader.

The secret to achieving optimum conditions that produce results in both bull and bear markets is his system. You will approach trading as a small business, realistically, systematically, and enthusiastically, using the lessons of Super Trader. A simple plan designed to help anyone navigate the market was created by Tharp.

This book was written in an easy-to-read style that was different from previous works by Dr. Tharp. The concept critical to trading success is the focus of each chapter.

This book is useful for every investor who wants to improve their returns. Super Trader concepts will help readers make money, avoid bear market losses, and lead happier, more balanced lives.

In the book, Tharp raises questions about becoming a trader, being a trader, and succeeding as a trader. The rewards of being a Super Trader make you feel like you can leap small buildings in a single bound.

How to make consistent profits.

In his book, Super Trader: Make Consistent Profits in Good and Bad Markets, Dr. Tharp breaks down the five essential parts of successful trading to help you produce consistent, above-average trading profits under various market conditions.

Working on yourself is part one.

You are shaped by your beliefs. Assessing your beliefs to determine whether they are useful is one of the most important aspects of self-work. You will learn how to change the beliefs that limit you in this section of the book.

The following topics are covered in Part 1.

• Completing a thorough self-assessment, including a 17-point questionnaire that separates the real traders and investors from the pretenders
• Understanding why commitment is so vital to trading well
• Taking personal responsibility for the results you get
• Empowering yourself
• Handling obstacles that get in your way
• Dealing with beliefs that determine how you trade

Developing a business plan is part 2.

Your trading business plan should include your beliefs about the big picture and strategies that work with those beliefs, the systems that make up your business, and a worst-case contingency plan. You can use this section of Super Trader to create a plan based on your objectives and beliefs. You will want to refer to this document often because it will be your assistant throughout your trading career.

Developing trading strategies that work in different conditions is part 3.

A good strategy can be developed for any market condition. In the late 1990s, it was easy to buy high tech stocks and hold onto them. The strategy stopped working in 2000. When market conditions change, most strategies stop working, but people keep trading them. Under the current market conditions, you will learn how to read the market and design strategies that work. You will learn how to develop strategies that fit each market type.

Understand how to meet your objectives.

Meeting your objectives has nothing to do with your trading system. It has everything to do with figuring out how easy it is to achieve your goals. Most people don’t know that you can meet your objectives through position-sizing strategies. In Part 4, you will learn how to use position sizing methods in your trading.

Taking steps to minimize your mistakes is part 5.

If you follow the rules in the first four parts of the book, you will be confident that you will make money. Not following those rules is a mistake. You will fail to make healthy profits if you make mistakes. Self-sabotage occurs when you repeat the same mistake over and over.

Learn to determine what mistakes you make, how much they cost you in real trading profits, and how to avoid repeating those mistakes to minimize their impact on your bottom line.

New! There are three new chapters on mistakes that affect mechanical, no rules discretionary, and rule based discretionary traders in the expanded edition.

Customer reviews.

I am constantly disappointed by books that promise extensive lessons of practical knowledge but are really water-downed books with basics I learned a long time ago. The book was written by Van Tharp. Super Trader. Does anything but this. He is the best on trading psychology, but he captures the important factors for success in other areas like analyzing performance, testing systems, and developing a plan for success. He doesn’t cosign people’s BS, he tells it how it is. I found this book a lot easier to read than Trade Your Way to Financial Freedom, and it has a lot more exercises one can do at home. For someone new to trading, I would recommend buying both books and starting with Trade Your Way to Financial Freedom. One could not go wrong with Tharp. Patrick is from Denver, Colorado.

The book focuses on four things.

Be open minded.

The focus should be on exit strategies.

Positive expectations

Study other people’s systems to create your own.

Is that the case? Be open minded. The book tries to show why investors get too attached to a single trading system. Before you can create your own system, you need to know yourself, your habits, etc.

There are two things: (1) and (2). There are exit strategies. The book tries to explain why exit strategies are more important than entry strategies and how other systems focus too much on entering the market and not enough on exiting the market.

It is referred to as (3). Positive expectation. It teaches you how to create a system of keeping track of your trades so that you know your batting average and not get discouraged when a trade doesn’t go your way.

(4) You can create your own system. It shows you a bunch of other people’s systems in the hopes that you can pick and choose the right trading tools for yourself.

The author believes that developing a proper trading mentality is a key ingredient for most successful traders, and that is what this book is about. It does force you to think and do your homework.

Proof Content

Salepage: https://www.vantharp.com/super-trader