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5 of 5 people found the following review helpful
5.0 out of 5 stars We Don't Need Anymore SuperTraders!
This book is packed with good information, and with it anyone could become a good trader. Tharp's book pokes holes in traditional entry based systems, and instead focuses on exits and position sizing. His study on how well you could do with random entries and good money management alone is worth the price. Unfortunately, if all traders read it and follow the great...
Published on 21 May 1999

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84 of 97 people found the following review helpful
1.0 out of 5 stars Yet another pyschobabble book posing as science
Sorry Van but I was taken in by your cult of expectancy for a while, and suffered as I consequence. Reader beware, you are entering the world where you can be seduced by delicious notions of logic with liberal portions of self-help nonsense. The basic remit of this book and all Van Tharps work is that once you have established your expectancy, that is your probability of...
Published on 14 Feb 2002


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5 of 5 people found the following review helpful
5.0 out of 5 stars We Don't Need Anymore SuperTraders!, 21 May 1999
By A Customer
This review is from: Trade Your Way to Financial Freedom (Hardcover)
This book is packed with good information, and with it anyone could become a good trader. Tharp's book pokes holes in traditional entry based systems, and instead focuses on exits and position sizing. His study on how well you could do with random entries and good money management alone is worth the price. Unfortunately, if all traders read it and follow the great advice given, it will be a lot tougher to make money!
I have read this book cover to cover 3 times already, and I pick up new info each time. This book ranks up there with "Market Wizards" and "New Market Wizards" as the best of the 50 or so investing books I have read.
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18 of 20 people found the following review helpful
5.0 out of 5 stars A coup d'etat (in a positive way) of trading manuals!, 23 Jan 1999
By A Customer
This review is from: Trade Your Way to Financial Freedom (Hardcover)
Dr. Tharp's book is one of the finest trading volumes written in the past ten years, if not ever. While some books are chock full of hazy trading axioms and incoherent discussions of technical indicators, Tharp's book is clear and meaningful.
And don't let it put you off that he writes about systems. There is no expensive software or models necessary here. A complete, efficient system can be tested using a little ingenuity and an Internet connection. Indeed, Tharp evaluates everything from Warren Buffett's "system" to the more complicated ones. Even though there is a thorough examination of technical and fundamental entry points (including a brief segment on the techniques of the mysteriously successful Turtle Traders, who sell their techniques for $1,000), the point of the book is to deemphasize entry and focus on position sizing and the value of the trading system, or expectancy.
By describing R-Multiples, stop losses, and profit-taking exits, Tharp discusses a subject overlooked by 99% of market manuals, answering questions such as:
-What do I do if my position declines? Where do I sell?
-When do I know that the market move is over and take a profit?
-How much do I risk on any one trade?

Investors and traders will be surprised to learn that one can create a very successful system that is "correct" 30% of the time, and one can be very UNsuccessful with a system that is correct 90% of the time.
In this respect, Tharp's book is profound, teaching individuals the real secrets of a Holy Grail system of trading and how virtually any concept can make money if you have the right techique.
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84 of 97 people found the following review helpful
1.0 out of 5 stars Yet another pyschobabble book posing as science, 14 Feb 2002
By A Customer
This review is from: Trade Your Way to Financial Freedom (Hardcover)
Sorry Van but I was taken in by your cult of expectancy for a while, and suffered as I consequence. Reader beware, you are entering the world where you can be seduced by delicious notions of logic with liberal portions of self-help nonsense. The basic remit of this book and all Van Tharps work is that once you have established your expectancy, that is your probability of winning and the amount you win per trade/bet, you are able to use money management to best fit your system and maximise your profit. It is true to say that Van Tharp has made a fascinating study into this and the maths are quite compelling even to a non numerical student. However, Tharp compares trading to a game where the expectancy can be foreseen as in the marble games that he uses to promote his ideas. Unfortunately trading is not like that. Its very interesting that like so many gurus Tharp chooses to teach trading rather trade himself. I am sure that he realises that the expectancy of running a business charging thousands of dollars to teach traders his "secrets" is far easier to predict than a trading system.
Like all the rest of these types of books treat it with a very big pinch of salt and ask yourself the obvious question - why trade when you can tell other people how to do it.
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2 of 2 people found the following review helpful
5.0 out of 5 stars All the tools you need to develop your trading system., 8 May 1999
By A Customer
This review is from: Trade Your Way to Financial Freedom (Hardcover)
This is a great book in which the author gives you all the tools, principles and calculations for you to develop a trading system which matches your personality. The author doesn't impose his system on you, rather, he guides you into developing your own.
I agree with gordmill, the guy who wrote the April 16th review is totally clueless and couldn't have possibly read any part of the book other than the front cover. His review lacks any credibility.
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2 of 2 people found the following review helpful
5.0 out of 5 stars A Trading System Builder's Manual, 13 Dec 1998
By A Customer
This review is from: Trade Your Way to Financial Freedom (Hardcover)
The most complete book I've ever read about building a trading system. This book deals with all aspects of trading systems construction, from entry points to exit points to position sizing. The two best books I've read this year about trading are this book and Robert Deel's "Trading The Plan". If you're a serious investor, this book belong in your library and should be on the top of your reading list!
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2 of 2 people found the following review helpful
5.0 out of 5 stars A winning stock trading method, 14 Nov 1998
By A Customer
This review is from: Trade Your Way to Financial Freedom (Hardcover)
There may be no such thing as the Holy Grail trading system, but Van Tharp, in his Trade Your Way to Financial Freedom, comes as close as one can get to it by providing the trader with the tools for constructing a winning method. By the use of "risk multiples," "expectancy" and "position-sizing" Van Tharp explains why even the most technically correct entry (and most systems' entry signals are no better than a random coin toss) is only ten percent of the formula for success. Van Tharp shows that most "systems" have it backwards in placing the emphasis on getting into the trade; it's what happens after the trade is entered that determines success. His book of "secrets" is to trading what the search for the unified force is to physics. You can throw away all the "system" books in your trading library: If Van Tharp's exit and position-sizing methods are carefully planned and executed, winning becomes almost automatic, even assuming a totally random entry! The Holy Grail system may not yet exist, but there is a Holy Grail method to get to the same place and Van Tharp, in showing how to get there, has distilled both the science and craft of a winning trading method into their most basic and essential elements.
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7 of 8 people found the following review helpful
5.0 out of 5 stars The Best Book On Bank Roll Managment Available, 24 Aug 1999
By A Customer
This review is from: Trade Your Way to Financial Freedom (Hardcover)
I have to give it to Van Tharp; he has done an excellent job. I disagree with him on a few issues but I still think his book deserves 5 stars or more. This might be the best book on trading ever published. I have given a lot of bad reviews on this website, but for good reason; all of those "trading" books are pure garbage. Not this one. You will learn more on the subject of money managment from this book than all of that fixed fraction, fixed ratio and optimal F cr*p out there. You will learn the importance of position sizing as Tharp likes to refer to it. This is not a book on methodologies if that is what you are looking for. This book deals with expectancy. A concept that every trader should know about. I do disagree with Tharp on one thing though; his disregard for a solid methodolgy. He states that methodology is only 10 percent of the battle. What utter nonsense! Methodolgy is no less and no more important than bank roll managment and pyschology. You need all of them.
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1 of 1 people found the following review helpful
5.0 out of 5 stars The accolades written above are deserved., 28 April 1999
By A Customer
This review is from: Trade Your Way to Financial Freedom (Hardcover)
Also see "Technical Market Indicators," Bauer & Dahlquist
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1 of 1 people found the following review helpful
5.0 out of 5 stars All aspects of successfull trading are covered in the book, 25 April 1999
By A Customer
This review is from: Trade Your Way to Financial Freedom (Hardcover)
Once, a trader has gone thru many different stages and experiences within his personal "learning curve" (if he survived until here anyway) on the way to become a successfull trader, he will know by looking back in retrospective, that all he would have to know about from the beginning on would be:
1. Knowledge in statistics ( as much as there is statistical evidence possible to extrapolate into the future)
and
2. Knowledge about himself and the individual nature and tendency to act within special and abnormal situations.
These 2 important points are the main focus Dr. Van K. Tharp, the author, puts emphasis on. Not more, not less. This is it.
Its very, very worthwhile to read this book.
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1 of 1 people found the following review helpful
5.0 out of 5 stars Priceless, 13 April 1999
By A Customer
This review is from: Trade Your Way to Financial Freedom (Hardcover)
I've read tons of trading books and this was by far the most helpful and informative. Nothing else went into money management in even close to this detail, and absolutely nothing is as important as money management. The experiment where trades were made based on a coin flip, and were long term profitable all due to proper position sizing, stops etc. was fabulous. Now I know I can be a successful trader over the long run.
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Trade Your Way to Financial Freedom
Trade Your Way to Financial Freedom by Van K. Tharp (Hardcover - 1 Jan 1999)
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