Van Tharp's Peak Performance/Fin. Freedom Through Day Trading

N

newgradtrader

Has anyone gone through Van Tharp's peak performance program? It looks really great! Any comments? Is there a huge difference between this program and his book: Financial Freedom THrough Electronic Day Trading? There is a significant difference in price-what else-there is probably a very big difference-please enlighten me I have only scanned each
Thanks!
 
wel considering I'm his son, what would you like to know about each?

I'll add more to this part to describe each. I would suggest contacting/writing on my own messageboard. There are quite a few of my father's long time students there who can answer it.


http://communities.msn.com/rtharpsland


Ok.

The Peak Performance Course is 5 books and 4 cassette tapes. It usually takes someone over 4 months to do. It is a course on NLP techniques targeted towards traders with trading related exercises. It is the core of my father's work that he spent over 10 years developing. The key to getting the most out of the course it to do ALL of the exercises. The exercises that you will want to skip are what you need to work on the most. Think of it as your subconscious trying to not change. The exercises in the course are not found in the books

The biggest thing I got out of the course was my realization that you create everything in this world and are responsible for everything that happens to you. There are quite a few exercises in there that show you this.

Trade Your Way To Financial Freedom or Financial Freedom through Electronic Daytrading.



The books here have book reviews. I think the reviews can speak for themselves.



To comment on Sterling and others comments below. I think his students can speak for themselves. There are 7 different Market Wizards who have used him. One is working on signing a 2 million dollar deal for coaching. Ask the majority of traders in this business who are doing really well and respect is given.

I'm one of his students, I've shown quite a few of my trades here, on clearstation and on my own messageboard.



rtharp
 
Newgradtrader

What makes 5 learning manuals consisting of:

Vol 1 How to use risk
Vol 2 How to control stress
Vol 3 How to control Losing Attitudes
Vol 4 How to develop Discipline
Vol 5 How to make sound decisions

Worth 600 dollars?

Van Tharp can teach you everything to know about the stock market except one thing: How to trade!!!!!!!!!!!!!!!!!!!!!!!!
This guy makes millions giving seminars and writing books on a subject he knows little about.

If you want to spend 600 dollars to improve your trading i would suggest:

Books:

Trading with DiNapoli Levels by Joe DiNapoli cost =160.00
Dynamic Trading by Robert Miner cost =79.00

Software:

Trade Prospector www.3mtrading.com cost=400
Total Cost=639.00

Just buying one book listed here will be more beneficial than anything by Van Tharp

Sterling
 
He who can not do, teach.

(doesn't necessarily mean he is a bad teacher though.. I remember some Olympic gold medal swimmer had a coach who couldn't swim at all himself)
 
I haven't read those but I have read "Trade Your Way To Financial Freedom" by Van Tharp. I'd recommend that one, I learned a lot from it. It's "one of the good ones" IMO.
Also, there are some good book reviews at this site. Click on the tab at the top of the page.
 
I have read and profited from both of Van Tharp's publically available books.

If his peak performance program gives added insights it may very well be worth going for.

The main reasons people fail in trading are:
1) undercapitalisation
2) poor money management

Actual trading strategy is pretty irrelevant in my opinion. Van Tharp's ideas will give you a much better chance than normal to ensure that you don't blow up on the basis of 2).

Yes, Van Tharp makes money out of his seminars and books ... that is simply capitalism. But, if in the process, your trading performance is improved substantially, it is a fair deal.
 
Newgradetrader,
Try this book! Reminiscences of a Stock Operator by Edwin Lefevre! Read it and then read it again.
Things to consider while reading:
1. Support and Resistance.
2. The climate of the market...Bear/Bull or sidways.
3. The trend at the time.
4. Establishing a line...testing the waters...100 shares only.
5. Discipline.
6. Listening to the tape.
7. A strong work ethic...research, check again and again.
8. Timing.
9. Position.
10. Rumors...tips:mad: .....costly...just the facts jack!

There is much more to this book, I just named a few.


Vinigar:D
 
Sterling,

I will have to disagree with you here ....

If one is still looking for "entry" techniques after reading his books I believe that they are missing the point entirely.

They probably still believe that there is a best way to trade, a secret way that will bring them riches. They want to be taught this technique...weather it's in a book or in a traders head , they are on a lifelong never ending quest to locate this info and be taught how to trade using it. When they actually stop searching for this secret and can actually say to themselves wow, I understand know. I really understand. I felt like someone turned on the lights and I could see when I started to understand how unimportant entry was in the trading ladder. by the time I purchased how to trade your way I was already changing me beliefs about the markets. Six months before this I would have never bought a book dealing with physiological and moneymanagement issues. I wanted entry's. I wanted to know to trade 80 % profitable.

I feel that his two books have taught me how to trade more then any other book I have read without even touching on the subject of trade entry. I was, shall we say... "Rudely awakened"


I have learned that there is no one best way to trade, just a best way for you. Finding it and staying with it, in other words consistency is crucial.
You don't have to be right more than you are wrong to make money...Big one for me. I used to change my system after a string of losses. Now I know that losing trades are inevitable. It's part of the game. The casinos don't win all their hands but they still make money. I actually get a little happy when I get stopped out of my loosing trades because I know my winners are ahead. This is very strange for me......I used to hate taking a loss, this was my bigest problem. Now I don't care if 70 % of my trades are losers as long as I am profitable or at least near breakeven.
I have realized how important money management and position sizing are to the end result. (the marble game where everyone had the same trades but different results due to position sizing is a good example of this.)



Nick
 
Candletrader

The fact of the matter is, everything available in any of Tharps books is available for free on the internet. You brought up the point about undercapitalization. It doesnt take a dynamo to figure out that a trader who has 100 grand account, stands a better chance succeeding than a trader with just 10 grand. Your other point about money management. Again, you dont have to spend money to learn about basic money management. I suggested in my previous post that Grad ought to try the software called Tradeprospector. There is a 77 page trading guide that comes with this software that gives some terrific advice on the subject. In fact; its probably better than anything in Tharps books. By the way, this guide is available for free, all you have to do is sign up for their 30 day trial.
There is nothing groundbreaking in any of Tharps books. I have spent thousands of dollars on trading books and software, and can say that most of this stuff was money wasted. I have read just about every book available on equity trading and i can say without a doubt ..... Theres nothing Van Tharp knows that is worth 600 dollars!!!!!!!!!!!!!!!
 
(I am not commenting on the seminars, of which I know nothing)

However, to dismiss this author's work is rather immature. As I learned more and more about trading, I found out that two things determine success more than anything else.

These are position sizing and psychology . If you are weak in these areas or do not have knowledge of them, I could give you the best trading system or entry signals and you would lose money in the end.

Having said that, I believe that Tharp brings to the attention of a vast trading population the importance of position sizing. His work is not perfect nor complete. But if you expect that from any author then you still have a lot to learn. Each person adds a little bit to the aggregate trading knowledge out there. It is our responsabilty to learn, and assimilate useful parts and profit.

------------------

I also have to vehemently disagree with the comment that "those that can not do, teach" This is a catch phrase that has got to go. It is very arrogant and empty of meaning.

Truth is doing and teaching are two separate and different things. Some can do both, others only one. It is obvious how rediculous the saying is when we turn it around: "those that can not teach, do".
 
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