057: Transforming Traders Through Their Beliefs – Dr. Van Tharp
Van Tharp: Transforming Traders Through Their Beliefs
Show notes: http://www.desiretotrade.com/van-tharp/
In episode 57 of the Desire To Trade Podcast, I interview Dr. Van Tharp, a very well-known leader of the trading industry.
From the start, Dr. Van Tharp has, very similar to me, a desire to have an impact. That is something I admire a lot.
During the interview, Dr. Van Tharp asked me about my own beliefs and we went through the “belief examiner” process, which has been very interesting for me. This has been a key elements for traders' transformations.
Trading mistakes are an important part of this interview. Dr. Tharp says traders should aim for 100 trades with a 95% compliance to their rules.
Topics Covered – Dr. Van Tharp
- How Van Tharp has transformed traders
- What is a successful trader
- How beliefs influence all traders
- You always trade your beliefs. The market is only a representation that we interpret based on what we think.
- No belief is 100% useful, they are only useful in a context.
- Keys to reach a higher level in trading
- The “belief examiner” process
- Position sizing strategies
- You should write down your rules and track when you don't respect them
- Looking at what your mistakes cost you.
- And much more!
What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group!