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Stocks & Commodities V. 24:11 (68-74): Interview: Trading Your Beliefs With Van K. Tharp
Stocks & Commodities V. 24:11 (68-74): Interview: Trading Your Beliefs With Van K. Tharp
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Stocks & Commodities V. 24:11 (68-74): Interview: Trading Your Beliefs With Van K. Tharp
Often imitated, never bested, Van Tharp is an original and a pioneer in the field of trading psychology. Van Tharp has been a coach and consultant to traders since 1982. He is the author of numerous books and home-study program and is widely recognized for his best-selling books "Trade Your Way To Financial Freedom" and "Safe Strategies For Financial Freedom". His Peak Performance program is a well-regarded classic that is suitable for all levels of traders and investors. STOCKS & COMMODITIES Editor Jayanthi Gopalakrishnan spoke to Van Tharp on September 6, 2006, and put together this interview with a combination of the spoken conversation and written answers.
Q: Why is it so important to take an inventory of your skills, temperament, time, resources, strengths, and weaknesses before you trade?
A: People will not trade a system competently unless it fits them. It has to fit who they are and their current lifestyle. For example, if you have a full-time job, you probably would have trouble daytrading or even swing trading. You have to design a system that really fits your personality. But its more elaborate than that. First, you dont trade the markets, you trade your beliefs, so its important to take an inventory of your beliefs. I believe there are three categories of beliefs.
Often imitated, never bested, Van Tharp is an original and a pioneer in the field of trading psychology. Van Tharp has been a coach and consultant to traders since 1982. He is the author of numerous books and home-study program and is widely recognized for his best-selling books "Trade Your Way To Financial Freedom" and "Safe Strategies For Financial Freedom". His Peak Performance program is a well-regarded classic that is suitable for all levels of traders and investors. STOCKS & COMMODITIES Editor Jayanthi Gopalakrishnan spoke to Van Tharp on September 6, 2006, and put together this interview with a combination of the spoken conversation and written answers.
Q: Why is it so important to take an inventory of your skills, temperament, time, resources, strengths, and weaknesses before you trade?
A: People will not trade a system competently unless it fits them. It has to fit who they are and their current lifestyle. For example, if you have a full-time job, you probably would have trouble daytrading or even swing trading. You have to design a system that really fits your personality. But its more elaborate than that. First, you dont trade the markets, you trade your beliefs, so its important to take an inventory of your beliefs. I believe there are three categories of beliefs.
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