Van Tharps, Trade your way to Financial Freedom

I've just bought Trade your way to financial freedom,i'm not a great reader and its 500 pages long,so what are the most important parts of this book.

Cheers...

A

seriously?

lolllllllllll

the whole book will help you, but if you are only going to read one or two chapters, then focus on the chapter(s) on Managing your risk.

or better yet, instead of reading it, just send me your money and I will trade it for you. will only charge you 50% on a profit.

Dude you paid for the book....... READ IT Sorry don't mean to laugh but I think maybe if a author puts content in a book he is putting it in there for the readers benefit lol

If you didn't fancy reading it, there is an audio version of the book. 3 cd's

I read the back cover and made 2 million last year trading.

puh, 500 pages, I read that kind of amount every week. Don't be lazy, turn off your TV and start reading.

TYWTFF book is good, but definitely it contains some parts that are not critical to read.

Instead I’d recommend you buy his new book “Super Trader”, and read it couple of times and actually apply what is in his new Super Trader book and you’ll never look at trading the same way.

Or if you're actually serious about becoming a professional trader instead of treating trading as a hobby, buy his "Peak Performance Course".

You should also read the chapter: "Setting Objectives and Expectations".

Answer the questions honestly.

The version I have is only ~350 pages, and it's been a while since I read it.

IMO it's important to understand that the approaches he discusses are not FX specific. The FX market behaves differently to other markets (I gave some of my reasons here). Actually, Dr Tharp doesn't go beyond discussing the very basics of system development (here and here are two must-read posts on sys development - every bit as good as Tharp, IMO).

Dr Tharp is a psychologist, writer and speaker. He does not trade himself. His discussion on expectancy and MM gave me pause for thought, and IMO are the best part of the book (chapters 6,9,10,12 in my version).

However, the most helpful book I've read on MM is Ryan Jones' The Trading Game. Not because I agreed with his thesis that Fixed Ratio is the best MM, but because in working thru all of the different MM's, I discovered that each method does little except re-balance risk and return, and consequently that any edge must necessarily come from entries and exits. There's a very good thread on MM here.

Sorry, that's the best that I can do, as it's been such a long time since I read the book. It's a very solid general primer on the different elements of system design, IMO, but that's all. In that regard, the title "Trade your way to financial freedom" is a misnomer, and probably a sales gimmick. It's been my experience that one needs to understand how the forex market operates if one is to become consistently profitable as a forex trader, and Dr Tharp's book will not teach you that.

Thank you kind Sirs,

I'll probably read it all,read the first 100 pages yesterday,his material is a bit general,and obvious and im probably useing most of what he's saying already.
Its a pity someone wouldn't write a book on exit stratagies,as this is what i think about and struggle with most.

The most important bits are:

a) Setting expectations (it took me years to realise just how important this bit actually is)

b) Concept of Expectancy

c) The framework he presents for system development

Thats enough to get you started, the rest is filler material.