The Holy Grail Of Trading Is Within Us All: Van K. Tharp, Ph.D.
Psychologist and trading coach Van K. Tharp is the president of the
International Institute of Trading Mastery, Inc. He has spent the last 15
years working with more than 4,000 traders, and through this work, he has
managed to identify themes and characteristics that are key among successful
traders. He’s developed a home study course on the trading process, but
his recent work has to do with the psychology of system development. He has
written a book titled Trade Your Way To Financial Freedom, in which he
analyzes how great traders develop their systems and how they stay great.
STOCKS & COMMODITIES Editor Thom Hartle and Tharp used E-mail to
conduct this interview during the week of January 28, 1999, discussing the
importance of understanding your own belief systems and position sizing,
and determining the steps to designing your own system.
The Holy Grail does exist, but it is an inner search. And
once you’ve undertaken that quest, learn position sizing
strategies. When you can understand how position sizing
applies to your trading system, then you have a chance.
— Van K. Tharp