Trade Your Way to Financial Freedom

Submitted by Book Library on 14 March, 2010 - 20:46

The bestselling holy grail of trading information-now brought completely up to date to give traders an edge in the marketplace “Sound trading advice and lots of ideas you can use to develop your own trading methodology.”-Jack Schwager, author of Market Wizards and The New Market Wizards

This trading masterpiece has been fully updated to address all the concerns of today's market environment. With substantial new material, this second edition features Tharp's new 17-step trading model. Trade Your Way to Financial Freedom also addresses reward to risk multiples, as well as insightful new interviews with top traders, and features updated examples and charts.

Positive Review of Book

Excellent coverage of the 10 parts of trading system design: 1) Market Selection, 2) Market Direction, 3) Setups, 4) Market entry, 5) Protective stops, 6) Market re-entry, 7) Taking profits, 8) Position sizing, 9) Portfolio selection, 10) Multiple systems.

I was so impressed with the book that I attended Tharp's $2,000 Advanced System Development Workshop. This book covers 90% of what was in that workshop. The other 10% is in Tharp's other book, Financial Freedom through Electronic Day Trading. The 10 parts of trading system design were not covered at any additional depth or clarity in the workshop. In fact, the books cover a lot more material. Just buy the books and read them several times.

Negative Review of Book

I bought this book, Trade Your Way to Financial Freedom, based on the positive reviews, but found it to be disappointing. The author's writing style is difficult to read and he contradicts himself. He tries to appeal to a large audience by illustrating how some successful investors/traders (e.g. Warren Buffett) will do things. However some of these superstar investors implement strategies that are the antithesis of what Tharp is trying to promote. For example, Buffett never uses stops nor position sizing. He skims through some areas superficially. If you want to find out more, you need purchase additional products on his website. At the end of the day even Tharp has had only limited success in his teachings. Forget it and save your money.

Author Biography

Van K. Tharp, Ph.D., is an internationally known consultant and coach to traders and investors, as well as the founder and president of the Van Tharp Institute. He is the author of multiple bestselling books on trading and investing, including Safe Strategies for Financial Freedom and Financial Freedom Through Electronic Day Trading. Tharp is a highly sought-after speaker who develops courses and seminars for large banks and trading firms around the world. He has published numerous articles and has been featured in publications such as Forbes, Barron's Market Week, and Investors Business Daily.

Table of Contents

  1. The Legend of the Holy Grail
  2. New: Q&A with Great Traders
  3. Judgmental Biases
  4. Setting Your Objectives
  5. Steps to Developing a System (heavily revised)
  6. New: Secular Markets
  7. Selecting a Concept that Works
  8. New: Using R Multiples
  9. Understanding Expectancy
  10. Using Setups
  11. Entry or Market Timing
  12. Protecting Your Capital
  13. How to Take Profits
  14. The Opportunity & Cost Factors
  15. Position Sizing
  16. Conclusions

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