R. Tharp's Trading Methodology

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To one of the posts websites and such I can recommend. I've been learning to daytrade from http://www.careerdaytrader.com

http://www.stockcam.com is one of the ads on this website.
They offer a free trial of a week.

I'll have an interview up soon with both of the managing partners.

mtrader.com seems to have a few merits. They haven't replied to any of my emails though :(

I have a coach who is in the process of building a website.
(needs some work :) -for now http://www.oneminutetrader.com
That's the website for Brian June and his assistant.

William O'Neil gives free seminars attend one.

I belong to the DaytradersUSA.com website not that great of a company. I'm going to raise the bar a few levels with them soon. Some of the other members are high calibur. I haven't met him but Tony Oz is a member. He coaches traders.

Just find a few traders who have been sucessful to coach you. The other thing that matters though for trading is psychology. It pays to get your head cleared up. I can give recommendations of different people. BUt just look for something that says NLP for it to be effective quickly.


Privateer I agree with you completely. There is a higher probability of breakouts failing than not, even during a bull market. My stop levels are usually based on serious support/resistance level, or just really tight for a super strong move. I then adjust my position sizing to accord for the stop. I can do either or. Adjust my position sizing for my stop to keep risk in check, or adjust my stop to allow a certain position size. Some trades also have a higher probability of doing well. I have one system that produces signals once every 7 months. It is good for a 5-20R multiple of return and works out around 97% of the time. That's why I was asking about professional margin earlier on. I want to use 3 or 4 times normal margin for that trade. (nothing is guaranteed --so I don't bet it all) and my stop for this trade is super tight. 1/16 or 1/8



On a seperate thing. If you do just this as a trader you will do very well. During Bull markets find what the strongest sector is and find the top 5 stocks %climbed. If the market is bullish, money will continue to flow into these stocks as more funds get involved. These stocks will continue to lead, you will heavily outperform the indexes.
Trail a stop 25% from it's high. Run a scan for stocks breaking 52 week high and then run another scan to see what stocks are up the highest % for a yearly chart in terms of returns.

Use Martin Zweig's indicator the FED. When they start to raise rates it's time to move into bonds as a bear will soon be coming. When they lower rates as they are starting to the bull will soon come. I'm becoming more neutral on this market now that they are changing policy.

rtharp
 
Hi Guys
Looks like I'm now speaking on June 9th instead of April 14th. DaytradersUSA needed to change the date with me.

A quick update

I'm using MSNmessenger right now to work on a few trades.
Eventually I'll set up a real time chatroom when I can work out enough of the details (and get some free time)I trade with Catalite (see the interviews on my website). We find trades for each other. Hitting new ideas back and forth all day long.


Others are welcome to talk to me on MSN messenger

robtharp@home.com is my handle

When the chat room gets up and running I'll figure out a small fee that is reasonable.

Robert Tharp
 
RTharp
Few times,you have mentioned NLP. Do you know about any good book on the subject?
Another thing is,your father( I guess he is your father) says in the "Market Wizards" basically, that it's possible to get a quick fix in your psychological (emotional) make-
up. I've done a lot of studying of Buddhist, yoga and Jung's psychological concepts. It's a matter of opinion but I think these are still the way ahead of Western psychology and they never talk about the quick fix working with one's head. I do not want to start an argument since I am a layman but if, somehow, I can be convinced that it's possible, I might become a much happier person fast. Actually, that's the American way, fast and easy. Thank you for reply.
 
Cesko

If you are really interested in working on yourself. The best I know are available here in San Diego Ca. My father (yes that is who he is)flys across the country just to work on his own issues 4-5 times a year.


http://www.dynamism.org is the web address for them. They have a few books. I'll be honest books don't rid a person of his or her issues. You MUST sit down with someone trained to help you work through your issues.


I agree with you Western Psychology isn't that advanced.
A lot of people see psychologists and psychiatrics but don't have results. My mother after her divorce had a few issues that needed to be worked on. She had the exact same issue 6 months later after working with someone. Meanwhile I can see someone with a NLP, or clearing background and have results within a hour or 2 on whatever is bothering me. If someone prescribes a drug to help you rid yourself of an issue. That issue is still there. The drug helps numb your body so you aren't as heavily bothered by that issue. I would just rather get rid of the issue. The drug will have other effects on you. My father graduated with A PHD is psychology. He found it absolutely useless for helping others deal with what is bothering them regarding issue. It wasn't until he discovered NLP that he made some real progress. The clients who he sees that have huge psychological issue he uses NLP techniques to remove the issues. He will probably go back to the original issue, make sure that it is truly the first time it has happened than anchor a positive emotion state to that issue so that in no longer bothers the person ever again. If he tried normal psychology he feels no progress would really be made for many months.

Robert Tharp
 
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