Van K. Tharp Video Review # 1

by David Jenyns on August 27, 2008

Video review of "Taking the New Step with Expectancy, Money Management, and a Lot of Discipline"

To watch this video visit InoTv
Rating: 3/5

Most traders lose money in the markets because they are culturally and biologically “wired” to do just that. In this presentation you will play a simulated trading game that gives you one of the three keys to trading success and emphasizes your performance in the other two areas.

In the discussion that follows the game, you will learn the three keys to trading success, how people fail in each area, and exactly what you can do to jump way ahead of the crowd. First, Van covers one of the most neglected topics in trading success: expectancy. You will learn the key bias that causes most people to trade negative expectancy systems. You will also learn the key factor in creating a high positive expectancy (it’s probably not what you think). Second, you will learn about money management—that portion of your trading system that answers the question “how much?” throughout the course of a trade. Money management can account for ninety percent of the variance in the performance of a room full of traders. In the simulation game, some people will go broke and many will lose money; others may make over one hundred percent. Money management will account for much of this disparity. Learn how to use money management to meet your objectives and jump to the next level of success. Lastly, Van discusses the most important factor in your trading performance: discipline, your ability to follow your own rules. Learn why fighting your emotions will cause them to dominate you and what you can do about it. Van will also teach you the three key tasks that every trader should perform daily to improve discipline.

To watch this video visit InoTv

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