Questions for Rtharp?

Originally posted by mrioux
Does anyone on this site has taken the "Peak performance home study course" from Van K. Tharp? What do you think of it?

RTHARP, do you think that this course could help me in my daytrading or is it more for position trading? Could you elaborate on the topics of the course?

Thank's
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Hi M..

The Peak Performace Course is something pretty long to do. It is based on all types of trading. It isn't a trading system like most courses. It's about psychology and the human mind in relation to trading. There are 100's of exercises to go through to help get you in the right state of mind for trading. It will teach you what your real weaknesses are in trading. The Peak Performance Course usually takes about 3 months to do. The key is to not skip any exercises. The ones' you want to skip are what you need to work on the most. It's your subconscious talkin when you are skipping a exercise. It's the core of my father's work. Call the office and ask to speak to others who have taken it - what they think of it. My father prides himself on helping others, so if you found no value (as if)there is a refund policy.
http://www.iitm.com/course/ii03000.htm

click on the above link for more info.
Rtharp
 
mr. rTharp- I had a question about trading I was hoping you could answer. It concerns a trading technique I read about in the "day trading " course I ordered from this web site. but because I dont want to broadcast any of the techniques that this web site is selling , I was wandering if there was any way I could contact you through an e-mail or something? please reply. thank you , john
 
John

for some reason my email box won't let me send you anything. I've tried both addresses so I'm just replying here.

praetorian2 is right. Most MM know of that technique. We trade in decimals now so all they have to do is pay a penny more. I haven't been able to trade that strategy at all.

RObert Tharp

 
Just got long CSCO this morning for 5-7 minutes to make a grand. I can't seem to post a 1 minute chart to show you. It's a high probability pattern. It's where a stock on a one minute bar goes straight down with a 90degree angle heavily and more than it average. It soon runs out of sellers starts going sideways and buyers step in. No stock only goes one way so I play the bounce, usually good for a retracement of 1/4 of the move to a 1/2. CSCO played this beautifully.

I did this yesterday on JDSU within the last 20 minutes
and AMCC

I need to find some real time software that can help me spot this pattern. Anyone know of anything?

Robert Tharp
 
Robert

seems interesting this 1 min pattern. would it be possible, that You mail me a chart snapshot of this described pattern.
I've looked at the csco chart and saw this situation that You mentioned. seems to me that a pattern like this happens very often in a one min chart. or I missed something here. where would Your entry be? and where Your stop? and what do You mean with " more than it average"? I am just curious to understand what You've told us here.

I hope that I didnt ask too much.

thanx and best of luck

eli



 
Originally posted by elie
Robert

seems interesting this 1 min pattern. would it be possible, that You mail me a chart snapshot of this described pattern.
I've looked at the csco chart and saw this situation that You mentioned. seems to me that a pattern like this happens very often in a one min chart. or I missed something here. where would Your entry be? and where Your stop? and what do You mean with " more than it average"? I am just curious to understand what You've told us here.

I hope that I didnt ask too much.

thanx and best of luck

eli

Well ELI when I say more than AVE I mean more than it's average true range. A significant move that happens once in awhile. I seem to find 3-5 stocks a day with the pattern. (especially this market) That move down was pure panic. Stops were taken out heavily. You can see it in the time and sales window of direct access trading systems. ALL sell orders and big lots. A huge increase in the volume.

This is a play purely off of panic. The angle must be 90degrees. (CSCO actually gapped I know) but support was found almost immeadiately well short term support.

my entry is on the support level. I must have confirmation by Time and Sales that buying in now the only type of trading.Get long with a market order or hit offer on ISLAND as I want in now. My stop is one tick away. It is supposed to take off. It it doesn't panic isn't over time to get out while I can. I really haven't had a move like this fail on me yet if all the criteria is there. Sorry for not being so specific before. I see so many charts sometimes assume everyone sees what I see. Thanks for having me explain it more.

Another example today was CNC around 12:40 if you can somehow pick up an old one minute chart.

I did JDSU about 10 minutes before the close with the same pattern. I'm just looking for a way to automate my finding this type of pattern.
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Robert Tharp
 
Dear Robert:

I am curious about how your trading infrastructure is set up, for instance:

1) Who do you use for a broker?
2) What type of internet connection(s) do you use for your trading?
3) What trading software do you use.
4) Computer ( cpu, RAM, etc), monitor size, and any other hardware?

Thanks,

rpc
 
rtharp

Thanks for all of your imput and expertise. I would be curious to hear more about your trading style.

As far as software, I would think the Omega software would be effective if you can get through all the bs with maintaining it (must have high speed connection, and b/c the program is such a monster I want it on it's own machine).

Also qcharts offers a realtime feature that detects realtime candlestick patterns.

Good luck
 
hey there Mr. tharp, been awhile since ive been on , but ive been working with preatorian2 every day on my day trading skills. i have a question that i was hoping you could answer for me .... its concerning options... i have 2k to open an account with a broker who will give another 2k on margin... my objective is to turn the 4k into enough capital to open an account with cyber so i can trade along side preatorian 2, (he's been a really good mentor to me). Now i got a feeling that maybe you probably dont think that this plan is such a good idea, maybe to risky, but 2k is all i can get and really want to open an account with cyber. Someone told me that they had this same problm and traded options, until they built enough capital to open a trading account. So...questions #1) what do think about this plan? #2) if i buy a call (100 shares) on a stock that is trading at $50.00, and it goes up to $55.00, do i have to have the 5k in my account to exicute the call? do oyu understand what im asking? im still a little confused about how options work. Ive been told that the profit on them is really good if you pick the right one, and it goes the way you think. Can you give me some feed back about how this process of options goes, please??? thank you , John
 
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