Think like a trader. Act like a trader. Become a Super Trader.
"Let your profits run!" It's the golden rule by which all Super Traders live. With the help of investing guru Dr. Van K. Tharp, you can join the ranks of full-time traders who consistently master the market.
Super Trader provides a time-tested strategy for creating the conditions that allow you to reach levels of trading success you never thought possible. Providing expert insight into both trading practices and psychology, Tharp teaches you how to steadily cut losses short and meet your investment goals through the use of position sizing strategies--the keys to steady profitability. Tharp offers concepts and tactics designed to help you:
- CREATE AND MEET YOUR SPECIFIC
- UNDERSTAND THE BIG PICTURE
- CONQUER COUNTERPRODUCTIVE THINKING
- MASTER THE ART OF POSITION SIZING STRATEGIES
With Tharp's proven methods, you can live the dream of enjoying above-average profits under various market conditions--up, down, and sideways. Tharp's wisdom, perspective, and tactical expertise are legendary in the world of trading. Follow the master down the path to trading excellence with Super Trader.
How do you transform yourself from a mild-mannered investor into a proactive trader who outperforms the market day-in and day-out. Think clearly. Plan accordingly. Commit completely. In other words, become a trader. No one is better suited to help you make the transformation than legendary trading educator Dr. Van K. Tharp.
Combining the sharp insight and technical brilliance that have drawn legions of investors to his books and seminars, Tharp provides a holistic approach for becoming a successful full-time trader. His system--a meld of investing psychology and sound trading practice--is the secret to achieving optimum conditions that produce results in both bull and bear markets.
Using the lessons of Super Trader, you will approach trading as you would a small business--realistically, systematically, and enthusiastically. Drawing on his decades of experience, Tharp has created a simple plan designed to help anyone successfully navigate the market that includes the following:
- Mastering the psychology of trading
- Crafting a "business plan"--a working document to guide your trading
- Developing a trading system tailored to your personal needs and skills
- Creating position sizing strategies to meet your objectives
- Monitoring yourself constantly to minimize mistakes You can put this plan to use immediately.
Throughout the book, Tharp raises the pertinent questions you must ask yourself about becoming a trader, being a trader, and succeeding as a trader.
The rewards that come with being a Super Trader--both financial and personal--make you feel as if you can leap small buildings in a single bound. Whatever your skill level, Tharp provides the formula for succeeding in a field where most people fail.
Table of contents
- Cover Page
- SUPER TRADER
- Copyright Page
- INTRODUCTION The Five Steps to Consistent Profits
PART 1 WORKING ON YOURSELF
- The Components of trading Well
- Do an Honest Self-Appraisal
- What’s Your Trading Type?
- Do What You Love
- Personal Responsibility
- What Are Your Excuses?
- Empower Yourself
- Write Down Your Beliefs
- Enjoy Your Obstacles
- Trade through Mindfulness
- Mindfulness Trading: An Example
- Make Friends with Your Inner Interpreter
- Learn to Dissociate
- Achieve Balance in Your Trading/Investing
- Overcome a Stuck State of Mind
- Does Failure Motivate You?
- No Requirements to Be Happy
- Vitamins for Your Soul to Improve Your Trading
- Discipline in Meeting Your Goals
- Removing Stored Charges
- How Do You Know When You’ve Done Enough Self-Work?
PART 2 DEVELOPING A WORKING BUSINESS PLAN
- Have a Plan for Your Trading/Investing
- Having a Mission Statement behind Your Trading Is Critical to Your Success as a Trader
- What Are Your Goals and objectives?
- Market Beliefs
- Understanding the Big Picture
- What Are Your Tactical Trading Strategies?
- How Will You Achieve Your Objectives Through Position Sizing Strategies?
- Dealing with Your Challenges
- What Are Your Daily Procedures?
- What Is Your Education Plan?
- Worst-Case Contingency Plan
- Mentally Rehearse Your Disaster Plan
- Systems other than Trading Systems
- The Four Quadrants
PART 3 DEVELOPING A TRADING SYSTEM
- Designing a Trading System That Fits You
- Trading Concepts
- Setups Are Not as Important as You Think
- Entering the Market
- The Source of the Stock Selection Myth
- Improving on Random Entry
- Exits Are the Keys to Making Money
- Exiting a Trade beyond the Initial Stop
- Start Thinking in Terms of Reward and Risk
- One of Your Most Important Tasks: Keep Up with the R Multiples of Your Trades
- Six Keys to a Great Trading System
- Common Elements of Success
- The “It Didn’t Work” Mentality
- Trading Reality Check
- What It Takes to Have Confidence
PART 4 UNDERSTANDING THE IMPORTANCE OF POSITION SIZING STRATEGIES
- System Quality Numbers® and Position Sizing Strategies
- Position Sizing Strategies Are More Important Than You Think
- The Three Components of a Position Sizing Strategy
- THE CPR Model for Position Sizing Strategies
- Position Sizing Basics
- Types of Equity Models
- Different Position Sizing Models
- The Purpose of Position Sizing Strategies
- One Way to Use Position Sizing Strategies to Meet Your Objectives: Simulation
- The Problems of the R-Multiple Simulator
- Getting around the Problems of Simulation
PART 5 REDUCING MISTAKES AND USING OTHER WAYS TO MAKE MORE CONSISTENT ROFITS
- Mistake-Free Trading
- Mistakes and Self-Sabotage
- Mechanical Traders and Mistakes
- No-Rules Discretionary Traders and Mistakes
- Rule-Based Discretionary Traders and Mistakes
- Common Mistakes
- How to Prevent Mistakes
- How Not to Repeat Mistakes
- Make More Consistent Profits: Keep it Simple
- Miscellaneous Ways to Make Money in a Trading Business
- Avoid Making Predictions in the Market
- You Cannot Ignore the Fundamentals
- Title: Super Trader, Expanded Edition: Make Consistent Profits in Good and Bad Markets, 2nd Edition
- Release date: December 2010
- Publisher(s): McGraw-Hill
- ISBN: 9780071760850
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