What Kind of Trader are You?
Are you a low-risk investor who just wants to make small, consistent profits each month with only an occasional loss? Learn how to develop a system that will allow you to develop a unique methodology that will give you that kind of consistency!
Are you a gutsy trader who?d like to make yearly profits of 100 percent, 200 percent or even 1,000 percent per year? It?s possible, although risky, and you can learn that too. The interesting thing is that you can do it in such a way that the only money you are risking is the money you?ve already made from the market. That?s real leverage! And, you?ll learn about it in the creative money management section.
About five percent of the world?s traders and 20 percent of the world?s investors, consistently make big money. What they do is not complex. In fact, simplicity is one of the keys to making money. And you can do it too.
Our job is to teach you what you need to know to become a peak performing trader or investor. It?s much easier than teaching you how to manage money for other people. You don?t have to invest hundreds of thousands of dollars plus the time, energy, and resources that it takes to become a professional money manager.
You can learn how to develop your wealth-building formula from Dr. Tharp?s research by studying ? How To Develop a Winning Investing/Trading System That Fits You?.
Why Develop my own system? Isn?t it easier to just go buy a system with proven results?
There are hundreds, if not thousands, of trading systems that work. But most people, after purchasing a preexisting system, will not follow the system and trade it exactly as it was intended. Why not? Because the system doesn?t fit them or their style of trading.
One of the biggest secrets of successful trading is finding a trading system that fits you. In fact, Jack Schwager, after interviewing enough ?market wizards? to write two books, concluded that the most important characteristic of all good traders was that they had found a system of methodology that was right for them.
When someone else develops a system for you, you don’t know what biases they might have. Developing your own system allows for compatibility with your own beliefs, objectives, personality and edges.
Furthermore, most of the system development software for sale really encourages some of the trading biases that I see as detrimental to overall trading success.
For example, give a system developer enough leeway and that person will have a system that perfectly predicts the moves in the market and makes thousands of dollars on paper with certain historical markets. Most software allows people to optimize to their heart’s content. Eventually, they will end up with a meaningless system that makes a fortune on the data from which it was obtained, but performs miserably in real trading.
Most system development software is designed because people want to know the perfect answer to the markets. They want to be able to predict the markets perfectly. As a result, you can buy software now for a few hundred dollars that will allow you to overlay numerous studies over past market data. Within a few minutes, you can begin to think that the markets are perfectly predictable. And that belief will stay with you until you attempt to trade the real market instead of the historically optimized market. Many trading accounts have plummeted from this very thinking. One ?sure-thing? trade placed without proper position sizing can wipe some traders completely out of the game.
Only about 5% of the world?s traders and 20% of the world?s investors, consistently make big money. What these winners do is not complex. In fact, simplicity is one of the keys to making money. And you can do it too! I?ve modeled this process and can teach you how to develop your own trading system that fits your own style of trading.
Our job in this course is to teach you what you need to know to develop your own system. The material you will learn is not market or time-frame specific. So whether you trade stocks, futures, currencies or gold, etc., or whether you place 50 trades per day or 50 trades per year, you will learn all of the components that work in any system.
Three Critical Secrets You Can Adopt To Develop A Superb Wealth-Building Formula
If you concentrate on these three secrets — which 95 percent of all traders and investors totally ignore — then you can vault yourself into a class that only a few have been able to achieve.
One: You must concentrate on the most important task of system development. If you do it properly, it will take at least half of your time during the development process. When you learn what it is, you?ll say, ?Of course it?s important,? but you?ll still probably spend very little time on it. This critical task is developing sound objectives. Jack Schwager, after writing two Market Wizard books, concluded that the most important characteristic of all the top traders and investors he interviewed was that they had adopted an investing/trading system to fit them. But to develop a system that fits you, you need to really think about what you want. It?s not a trivial task.
There are at least 30 questions you need to address when you develop a trading system. Dr. Tharp takes you through each step?one by one. When you finish, you?ll know exactly what?s important for you.
TWO: A good investing/trading system has 10 key components. Most people ignore six or seven of them when they do their research. In fact, you?ll never see a book on system development that covers more than six of them. That?s the limitation the average trader has in doing research. You want big profits with as little risk as possible, so you want every advantage possible when you start to develop such a system.
You should be able to take advantage of eight of these components easily after hearing the CDs. And, with a little more effort, you?ll be able to use all 10. If you use all 10 with competence, you?ll be among the top 0.1 percent of all traders and investors in the world.
THREE: Most people concentrate on the least important element in system development — entry. They also ignore the most important element — money management. ?Developing A Winning Investing/Trading System That Fits You? will teach you the difference between rule-based systems and money management systems that peak performers use.
In addition, you?ll learn numerous types of money management systems that will help you lower your overall risk, while at the same time, helping you achieve more consistent performance.
If you?re more adventurous, we?ll show you how to really go for really big returns using the market?s money. When you use these super moneymaking techniques, you could make 1,000 percent on your money each year, risking mostly the money that the market has given you.
? You?ll learn the secret behind how one trader turned $10,000 into $1.1 million in less than a year. He traded a volatility breakout system, but the key to his profits was his money management.
? In addition, we?ll also show you how another group of traders have taken over $100 million out of the market over the last 10 years! They traded a channel breakout system, but the real key to their success was the money management. Learn the advantages and disadvantages of both these styles.
This sort of adventurous trading is very risky. You could lose a substantial amount of money if you?re not careful. As a result, we?ll show you all the pitfalls so that you thoroughly understand the risk involved.
Nine Money Making Secrets You Will Learn From This Trading System Development Program:
1. You?ll get specific ideas for making better market entry and exit decisions.
You?ll also get specific money management principles from two experts in the industry. The CDs and the manual contain lots of information you?ll want to review over and over again.
2. You?ll be introduced to the psychological pitfalls that hold back so many people. Just knowing about them will help you avoid them.
3. You?ll work through Dr. Tharp?s model, developed after 15 years of research with top traders and investors, on how to design, develop, and customize a trading system in the most effective way possible.
4. You?ll learn new approaches to the markets and new techniques for analyzing them.
There are 15 concepts behind most trading systems. Most concepts, including some of the most popular, are meaningless. But you?ll learn about the ones that work best.
5. You?ll get practical trading ideas.
6. Dr. Tharp?s research on a random-entry trading system will be explored. You?ll learn how it works. Incidentally, the system earns between 0.5 percent and 11 percent per year on various historical tests, despite adding $100 for slippage and commission on each transaction. Yet the entries are totally random!
7. You?ll learn about expectancy and how expectancy is shaped by your exits from the market.
8. Fifty percent of system development is designing sound objectives. You?ll hear ideas on developing sound objectives for traders and investors.
9. Co-presenter Chuck LeBeau, former co-editor of Technical Traders Bulletin and co-author of Computer Analysis of the Futures Market, has 25 years of experience in the markets and he?s widely known for his specialized knowledge of technical analysis and his trading skills.
This Is The Kind Of Information You Will Listen To And Read About Over And Over Again
If you want consistency and you want to make an additional $10,000, $75,000, $250,000, or even a million dollars in extra cash profits from the market over the next year or two — then you should read this entire letter. Learn little-known, closely guarded secrets that are not published in books and that you?re not likely to find unless you accidentally stumble upon them yourself.
Imagine yourself being in a room full of professional traders and investors. Each of them controls at least $5,000,000 in trading funds. Some of them control over a billion dollars. And these top traders and investors are gathered together to help you!
Imagine that your goal is to develop the perfect trading system for you. You probably already have a goal like that, don?t you? So imagine that you could ask them any questions you wanted and they will give you honest, straightforward answers. Think about all the secrets you?d learn.
Imagine what would happen to your profits when you applied that material and used it to develop a system that was perfect for you and your personality. The results would be incredible.
It sounds great, but how could you meet all of these top traders and professionals? And if you did, how would you know what to ask them? Would they tell you the truth?
It would be difficult. But you can have the same experience because Market Wizard Trading Coach, Dr. Van K. Tharp, has done the work for you and collected it into this winning package. He has spent over 15 years working with the top people in the field, interviewing and studying thousands of top investors and traders.
Dr. Tharp Has Discovered Certain Little-Known Secrets About Doing Research That You Need To Know If You Want To Develop An Effective System That?s Right For You!
Dr. Van K. Tharp is an expert. He is a very consistent, astute, and systematic researcher of human behavior. He has personally interviewed hundreds of top traders to determine what makes them excel in their profession and collected psychological profiles from over 5,000 traders and investors.
With this information, he carefully crafted a model that people like you can adopt to improve your own skills. When Jack Schwager interviewed 16 of the world?s best traders and investors for this best-selling financial book, Market Wizards, he also interviewed Dr. Tharp as a peak performance coach in his book. Dr. Tharp is that good!
What’s in the Workbook
The 180-page workbook is packed with systems development information, notes, exercises and reference material to help guide you to developing a system that fits you.
You’ll be able to follow along in your workbook and perform the same exercises that are on the CDs.
Refer to the Workbook’s Table of Contents (below) for details on the topics covered.
Table of Contents Section 1
Figure 1 – Key Elements of a Trading System
1-1 Introductions
1-2 Why Trading is So Difficult for Most People
1-3 Trading Simulation: Game 1
1-4 Ongoing Psychological Problems with Trading
1-5 Psychological Issues in Developing a Trading System
1-6 Four Psychological Areas
1-7 Perception and Trading
1-8 Perception and Indicators
1-9 System Definition
1-10 Parts of a System
1-11 Modeling a Trading System
1-12 Objectives: Part 1
1-13 Objectives: Part 2
1-14 Low Risk Ideas
Table of Contents Section 2
Open Frame ? Questions
2-1 Trading Simulation: Game 2, Part 1
2-2 Concepts Behind a System & Entry Techniques
2-3 Random Entry Systems
2-4 Setting Your Initial Stop Loss
2-5 Exit Techniques
Open Frame ? Questions
Table of Contents Section 3
3-1 Trading Simulation: Game 2, Part 2
3-2 Filters to Entry and Exit
3-3 Money Management for Money Management Systems
3-4 Money Management for Rule Based Systems
3-5 Creative Money Management
Table of Contents Appendices
Appendix I – Supplemental Readings
Appendix II – Answers to the Expectancy Problems
Appendix III – Calculating Various Indicators
Appendix IV – Course Update: Parts & Self-Esteem
Appendix V – Course Update: Feelings
