Van Tharp trading course

[MS+Tradesim]

Any update? I've just finished the book ",,,financial freedom". Is the course good for newbs or is it more suitabel for those with a bit more experience?

Oops, only just remembered this thread. The course is fantastic if you are prepared to accept that you are responsible for your success or failure. It would be great for beginners who are serious about becoming successful traders/investors. Those who just think the market is a bit of excitement, those who already think they know everything, and those just looking for a "you-beaut" indicator need not apply.

The course is not about the methods of trading. It is about mindset. I believe it will benefit anyone who genuinely wants to become a good trader/investor, including intermediate/advanced traders who have hit a wall and need to refocus.

I'm about to go through it again before starting live forex trading.

 

[mjp]

great thread Temjin and MS+Tradesim

i'm looking at the course also, so appreciated your comments - could you give an idea of how long it would take to complete the course? I see on the tharp website they suggest 2-3 months at 2-3 hours a day - would it be practicable (and still effective) to work at it full time and complete in two-to-a-few weeks?

I am familiar with the expectancy, money management and R-multiple content etc from Trade your way to Financial Freedom, have traded for several years and appreciate the value in the personal psychology side of this, which is what appeals about the course, plus the approach to tailoring a trading plan to match personality.

cheers
mjp

 

[MS+Tradesim]

Howdy mjp, I found some time today!

My first time through only took me a week or two. I didn't do all of the exercises straight up and there's plenty I still haven't done but will get to shortly as I'm now going through it all again, slowly and thoroughly.

So yes, if you get stuck in you can do it quickly but keep in mind the point of it is to adjust the way you think. Doing that will take as much time as it takes. I'm still finding things that I know but had not implemented due to ingrained subconscious patterns of thought which are yet to be replaced. The last week though I've made massive strides forward in those areas and today's trading showed me that the old patterns are being replaced. It just takes lots of positive reinforcement of good patterns to defuse the old ones.

 

[mjp]

Many thanks for that MS+TS

best of luck with that pattern changing - sounds like worth a look

cheers
MJP

 

[Wysiwyg]

Van Tharp`s newsletter this week brought up the idea of 10,000 hours practice to be successful.

Obviously a nominal figure.From someone accumulating experience I thought the best bit of advice was to spend the nominal 10,000 hours on the way to success learning the right way to trade.

Learning to trade is like starting to read a book.You don`t know exactly what will happen next page but after awhile you get a fair idea.Here`s to experience and the road that leads us there.

 

[Agent_Jon]

Hi all,

I'm a newbie to this forum but have been working through the Van Tharp course.

Interestingly, the first few pages suggest to stop trading until you have finished the course and 'you will save yourself a lot of money'.

Not surprisingly I didn't take that advice and learnt the hard way. Every time I overcome my overconfidence and ego and return to the materials I am back on track.

Knowing the information and reading the books in one thing, but application and execution is another art. The course is focused on application. But you only get out what you put in, and I think most people fail because (including myself) they don't have the discipline to finish a book or course properly, not because the course is no good.

Agent_jon