Rating: 
- Best book on investing I have read so far
The author goes over all the parts necessary to get you to realize how important each part of your trading system is. I would have lost much money if I hadn't read this book. I would say that beginning investors need to read this, just for the fact that he emphasizes things that are so important, yet are ignored in a lot of other books. You may think of yourself as a good investor until you read this and realize all the mistakes you've been making. Yes you could fit the most essential parts of the book on a 3x5 card, but you wouldn't understand their importance, and you might fail to use it. Van K. Tharp covers all the whys, and WILL help you on your way to making a time tested profitable trading system. TA (Technical Analysis is light) but thats not why you bought the book. This is a good one, even in hardcover and for the price. I'm going to keep it forever.
Rating:
- Three excellent points make the book a good buy...
Unfortunately, this book suffers from being both over-and under-technical, and the problem is that you sometimes have a hard time telling the difference. Sometimes the over- and under- happen right next to each other, confusing things further. His many references to risk, "1R," total risk, etc., are the best examples, and these are the things where the serious reader is looking for clarity. It is obvious that Mr. Tharp has deep technical (statistical and mathematical) knowledge, and is frequently torn between simplifying and being accurate. Albert Einstein had warned that it is crucial to simplify as far as possible, but no further. Amen. Nevertheless, this book is likely one of the best of its kind for these three things a reader should come away with:
1. Of all the elements of a trading system (entry, exit, position sizing, etc.), it is position sizing that is most important, by far. His illustrations unfortunately can be confusing, rather than clarifying.
2. Trades should be thought of as "belief systems." Staggering as it is to think that one's own trading system isn't analytical, Tharp is correct in reminding us (strongly) that we are trading our beliefs, and to keep that in mind. For the average person this is hard to do even after the second trade!
3. Think of trades in terms of risk units. No explanation in this review, as this needs to be read through in the book.
Rating:
- Don't buy this book, don't waste your time reading it.
I really can't figure out why this book was written, other than the author's commission fees. It's long, repetitive, and doesn't have much actionable information. I've taken maybe 5 finance/investment classes, but I'm certainly not a sophisticated investor. Even so, for me the total information value from this book could be boiled down into 3 pages, tops.
For the novice, this book would be impenetrable. For the advanced investor, the useful information would fit on a 3x5 card. I have no idea why people rate this book so highly.
Rating: - Great Book!
Take the title with a grain of salt. It's focus is more on developing structured systems for trading. For that purpose it's a great book and very thorough. Tharp focuses a lot on system creation and psychology.
Rating: - trade your way to financial freedom
Exceptional insight on market approaches and personal psichology. A compulsory text for everyone who wishes to make a success of trading.
Thanks Dr. Van Tharp
- Best book on investing I have read so farThe author goes over all the parts necessary to get you to realize how important each part of your trading system is. I would have lost much money if I hadn't read this book. I would say that beginning investors need to read this, just for the fact that he emphasizes things that are so important, yet are ignored in a lot of other books. You may think of yourself as a good investor until you read this and realize all the mistakes you've been making. Yes you could fit the most essential parts of the book on a 3x5 card, but you wouldn't understand their importance, and you might fail to use it. Van K. Tharp covers all the whys, and WILL help you on your way to making a time tested profitable trading system. TA (Technical Analysis is light) but thats not why you bought the book. This is a good one, even in hardcover and for the price. I'm going to keep it forever.
Rating:
- Three excellent points make the book a good buy...Unfortunately, this book suffers from being both over-and under-technical, and the problem is that you sometimes have a hard time telling the difference. Sometimes the over- and under- happen right next to each other, confusing things further. His many references to risk, "1R," total risk, etc., are the best examples, and these are the things where the serious reader is looking for clarity. It is obvious that Mr. Tharp has deep technical (statistical and mathematical) knowledge, and is frequently torn between simplifying and being accurate. Albert Einstein had warned that it is crucial to simplify as far as possible, but no further. Amen. Nevertheless, this book is likely one of the best of its kind for these three things a reader should come away with:
1. Of all the elements of a trading system (entry, exit, position sizing, etc.), it is position sizing that is most important, by far. His illustrations unfortunately can be confusing, rather than clarifying.
2. Trades should be thought of as "belief systems." Staggering as it is to think that one's own trading system isn't analytical, Tharp is correct in reminding us (strongly) that we are trading our beliefs, and to keep that in mind. For the average person this is hard to do even after the second trade!
3. Think of trades in terms of risk units. No explanation in this review, as this needs to be read through in the book.
Rating:
- Don't buy this book, don't waste your time reading it.I really can't figure out why this book was written, other than the author's commission fees. It's long, repetitive, and doesn't have much actionable information. I've taken maybe 5 finance/investment classes, but I'm certainly not a sophisticated investor. Even so, for me the total information value from this book could be boiled down into 3 pages, tops.
For the novice, this book would be impenetrable. For the advanced investor, the useful information would fit on a 3x5 card. I have no idea why people rate this book so highly.
Rating:
- Great Book!Take the title with a grain of salt. It's focus is more on developing structured systems for trading. For that purpose it's a great book and very thorough. Tharp focuses a lot on system creation and psychology.
Rating:
- trade your way to financial freedomExceptional insight on market approaches and personal psichology. A compulsory text for everyone who wishes to make a success of trading.
Thanks Dr. Van Tharp