Van Tharp – How Big Money Trades: A Key Aspect of Systems Thinking

Van Tharp – How Big Money Trades: A Key Aspect of Systems Thinking

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Description:

Most traders trade primarily to make money in the markets. Right?
And yet . . . most traders are trying to win in a high stakes game they really don’t understand. For example, most traders don’t understand –

Why or when their systems work.
Who they are trading against or even the categories of major market participants.
The difference between price and value – or which to trade.
How big money drives the market.
Why to trade with big money.
How to look at just one or two things beyond price to help confirm a smarter entry or exit.
If you have been trading for a short while and you don’t understand those critical factors, you’re not likely to be around long in the markets. It’s nothing personal, it’s just the markets doing their job.

Would you prefer to trade for the years to come? Would you like to generate more consistent profits and have fewer, smaller drawdowns? Then you better prepare yourself thoroughly. Capital markets attract more knowledgeable, competitive, and savvy players than any other game in the world. Most retail traders fail to prepare or educate themselves – and most get kicked out of the game pretty quickly. Warren Buffet summed up this idea well in his 1988 Berkshire Hathaway annual letter-

As they say in poker, “If you’ve been in the game 30 minutes and you don’t know who the patsy is, you’re the patsy.”

Don’t be a patsy. Prepare yourself and become a professional player.

Prepare Yourself
As a young man, Van Tharp blew up a trading account while he was in graduate school. He saved up some more money and then he blew up his second trading account – the second time finding out that you could go below zero. Van realized the only common element between those two account-draining experiences was “him”. As a psychology Ph.D., he became really curious about what he had just done so he started exploring the psychology of trading – and made numerous exciting discoveries in the following years that helped individual traders.

Forex Trading – Foreign Exchange Course

Want to learn about Forex?

Foreign exchange, or forex, is the conversion of one country’s currency into another.
In a free economy, a country’s currency is valued according to the laws of supply and demand.
In other words, a currency’s value can be pegged to another country’s currency, such as the U.S. dollar, or even to a basket of currencies.
A country’s currency value may also be set by the country’s government.
However, most countries float their currencies freely against those of other countries, which keeps them in constant fluctuation.

More Course: FOREX TRADING

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