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Trade Your Way to Financial Freedom

4.02  ·  Rating details ·  1,077 ratings  ·  37 reviews
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
...more
Hardcover, 479 pages
Published December 13th 2006 by McGraw-Hill Education (first published 1998)
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Average rating 4.02  · 
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Jim
Sep 24, 2017 rated it really liked it  ·  review of another edition
This is the book to read if you need to be convinced that trading is every bit as much about exiting trades as it is entering trades. Simply put, you can't make money trading if you don't control how much you lose on trades that don't go your way.

Van Tharp does a more than adequate job explaining expectancy and drawdowns in a way that makes you realize that bad things can happen to you if you ignore this facet of trading.

There are other reasons to read this book but those were the big ones to
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Albert
Mar 08, 2018 rated it really liked it
When I started reading this book I felt like I wasn't getting anything from it, like it was repeating himself over and over again. However by the ending of the book (the last 150 pages or so) it turned out to be a great book. It doesn't have many ideas but the ideas and points it makes are very powerful.

I learned from this book how important are exits on a trading system (something I wasn't even considering when I was trading).

Position sizing is another great point he speaks about throughout the
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Mimi Somsanith
Jul 15, 2008 rated it it was ok
Recommends it for: Those beginning to take a serious interest in stock market trading analysis and investing methods.
Recommended to Mimi by: baby boomer
Shelves: good-to-browse
A lot of "stuff" but not enough of "it" is how I would describe this book. Have you ever read something and was interested in the topic but felt like you weren't given the satisfaction? Perhaps, I've had a fair grasp of the underlying teachings of the book to fully appreciate it.

It does cover a decent range of trading methods, ideas, and references for an audience who've just picked up an interest in stock market investing. If you've read a few already, beware that the beginning chapters of
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Jeff Gruters
Feb 05, 2017 rated it it was amazing
One of the best books out there for for serious traders. This book talks about some of the most important aspects that most other trading books don't talk about, yet is crusial to successful trading. Wish I had read this book years ago, my success would be very different.
Zack
Jun 22, 2011 rated it it was ok  ·  review of another edition
Recommends it for: Wanna be traders.
Shelves: non-fiction, trading
Unfortunately some of the stuff in the book feels outdated (or discredited, like the Motley "Foolish Four").
Tomas Tidén
Nov 11, 2013 rated it liked it
Psychology chapter is excellent. The others, not so much.
Artemus
Oct 25, 2019 rated it it was amazing
It was a book where you will be introduced to the really important parts of trading but I guess what discouraged me and made me lazy in finishing this book was maybe that some concepts overwhelm me. The thought that I will be going to another topic from a topic that has so much importance maybe really discourages me. I must say that the examples, simulations and things that help the reader understand the concept are what really made this book amazing. He was right to end the book by saying that ...more
Alain Walder
Jan 16, 2020 rated it it was amazing
Setting aside the click bait title, this book provides an amazing overview to mechanical trading systems. It gives a very good concise description of different systems such as trend following, value trading, swing trading, spreading, arbitrage and others. It provides the essential factors in which to think about a trading system (reliability, reward-to-risk ratio, opportunities, position sizing) and lay out the steps to develop your own system that fit your beliefs about the market. Highly ...more
Marten
Aug 05, 2019 rated it it was ok
There are a number of good ideas in this book (most notably that a trader should have a complete system instead of only focusing on entry) but many chapters lack in depth. Tests are often executed somewhat haphazardly without regard how parameters may influence outcomes. All in all a long read for the amount of new information ...more
Ferhat Culfaz
Oct 13, 2019 rated it really liked it
Lots of material, covering very important parameters such as risk and position sizing, not covered in other books. Also focussed on exit and individual psychology. Excellent bibliography and ideas. Highly recommend this book as a starting point for investing.
Rabib
Jul 09, 2019 rated it liked it
It's a fine book with plenty of good advice. However, it's really too long for the amount of info it contains. Maybe I'm too used to reading textbooks, but I just want the advice without necessarily being harped to about why the advice is so good. Just make your point and move on.
Matt Innes
Jan 15, 2020 rated it it was amazing
A very comprehensive guide to avoiding losing all your money in the financial markets. Tharp states that very few entry strategies are better than random in the long term. It's knowing when to get out and how much to put in that will, over time, bring the returns.
Paul
Jun 08, 2017 rated it liked it
This is a book that I will need to read several times before I even start capturing the concepts within. It was not an easy read and sections I needed to simply skip. It's certainly a book that makes you think in ways I never contemplated.
Tony
May 14, 2019 rated it it was amazing
My CAGR goal is 30%
Angel
Feb 09, 2019 rated it it was amazing
I love the emphasis on position sizing!
Ang Jie
Jan 01, 2020 rated it liked it
The psychology aspects of trading are interesting. However the writing isn't very clear. Stopped reading after the psychology chapter.
Bala Baskar
Jun 24, 2018 rated it it was amazing
Must read for all traders!!
Baharuddin Abubakar
Sep 14, 2016 rated it it was amazing
I recommend this book to beginner who'd lost money for having no IDEA entering the market (just like me). It breaks down what trading system is and how to develop your own one by choosing some example this book offers.

You still have to do your own research once you decided what IDEA fits you the most to develop your own trading strategies.
Hundeschlitten
Jul 25, 2009 rated it really liked it
As its lame title hints, the writing style in this book is blunt, rather awkward, and not much fun at all.

But the ideas here, while deceptively simple, are, from my experience anyway, deep and valid. In a nutshell, you need a plan to make money, you've got to test that plan to see if if makes sense, you've got to have the guts to stick with the plan once you begin yet know when to adjust your ideas when you are wrong, and your level of risk must be dictated in large part by the size of your
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Mike
Aug 08, 2009 rated it liked it
Recommends it for: Investors, traders, readers
Recommended to Mike by: a friend
I read this as aprt of a follow-on to Curtis Faith's book on being a "turtle trader". Tharp makes lots of interesting and key points about the effects of individual attitude and psychology on the effectiveness of traders. He also presents and analyzes (to some depth) many methods of trading.

Is the book great: sort of - I found it too scattered. In some ways, Tharp never met a trading system he did not like. He suggests lots of ideas and although presents the concepts never settles down and
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Robert Rubin
Aug 23, 2007 rated it really liked it
Recommends it for: Serious investors
Tharp focuses on the psychology of securities trading, and on how to build your own successful trading system, making this very different from the usual investment book about economics or price analysis. There's a deep and invaluable discussion of the intellectual and emotional errors that get in the way of trading, and how to discipline yourself to avoid them. Once the reader learns how to perform clear-eyed, unbiased assessments of the market, Tharp shows how one's own personality can form the ...more
Paul Barnes
Apr 23, 2012 rated it liked it
Shelves: trading
It's cheesy, but it delivers on the title. Van Tharp is the psychologist interviewed by Jack Schwager in the first (great) Market Wizards book.

So the section on the psychological aspects of trading is very good, as you would expect.

But the big value in this book is the section on position sizing, which is the best I've seen in a trading book (but surpassed by some of Mark Johnson's thought pieces published in online trading fora).
Terry Kim
Sep 12, 2015 rated it it was amazing
Great book on investing/trading. While most investing books talk about their Entry methods, this book states Entry is the least important part of successful trading. The author stresses the importance of reducing risk, evaluating risk to reward (expectancy) and most importantly position sizing.

A must read for anyone interested in investing.
Alvin Lim
Sep 07, 2012 rated it really liked it
Shelves: equities
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
Scott
Jun 05, 2013 rated it really liked it
Boring, but some excellent quotes from others, and tharp himself in there. He just really tries to lay down the most common systems without favor and leaves it all up to the reader. He keeps you focused on what really matters and its money management.
Lee Spano
Jul 14, 2014 rated it really liked it
This is a crucial work for all traders of the financial markets. Van Tharp debunks the myth of the 'Holy Grail' and provides important insights to help you build your own trading system. Regards, Lee M. Spano, Creatness International www.creatness.com
Doug
Jul 07, 2009 added it
Great book, a must read for everyone who wishes to trade on Wall Street.
Jason
Feb 18, 2008 rated it really liked it  ·  review of another edition
Terrible title! Great information for handling your personal investmenting.
Javier Villar
Sep 03, 2015 rated it it was amazing
Shelves: trading, favorites
A classic. A must read for any trader.

The 2nd edition is improved. Make sure to read that one.
Neil
Jul 03, 2009 rated it it was amazing
Shelves: trading
Great book but should probably have some trading experience before reading it to get the most out of it.
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