disciplined trading - how to trade your way to financial freedom - van k. tharp

Traders Library Trade Secrets On-Line Manual Disciplined Trading How to Trade Your Way to Financial Freedom with Van K.. These shortcuts generally help us, but they also produce some se

Traders Library Trade Secrets On-Line Manual

Disciplined Trading

How to Trade Your Way to Financial Freedom

with Van K Tharp, Ph.D.

Why It's So Difficult for Most People To Make Money

z We have a limited capacity for processing information despite the fact, that the amount of

information to which we're exposed doubles every year

z To cope with this limited capacity we’ve developed a number of judgmental and decision making shortcuts These shortcuts generally help us, but they also produce some serious problems when applied to the world of investing and trading

z Our emotions provide a background context in which all trading takes place Emotions very

seldom improve, trading performance, but they frequently take away from it

Key Elements of a Successful Trading Model

Discipline Factors

z Respond-ability

z Beliefs

“I would feel much better about myself, if I were more secure financially."

z Feelings getting in the way of trading or investing Fear and anger are not useful to trading success.

z Conflicts between internal parts of ourselves For example, conflict might occur

between your excitement part and the part that wants to make money.

Self Image Inventory

Determine your own level of self-esteem by answering each of the ten questions below using the

following scale:

0 - It doesn't apply to me

1 - It seldom applies to me

2 - It sometimes applies to me

3 - It mostly applies to me

4 It definitely applies to me

_ 1 I tend to take losses personally

_ 2 When people give me gifts I tend to feel uncomfortable or feel I need to give something

to them in return

_ 3 I tend to blame others for what happens to me or for my problems

_ 4 I don't really enjoy being alone with myself

_ 5 I have trouble being open with other people and I tend to hold back

_ 6 I often need to defend what I say or what I do

_ 7 I feet put down when I'm criticized

_ 8 I tend to have some shame, guilt and blame

_ 9 I get jealous about the good fortune and success of other people

_ 10 I need approval, attention and praise from other people to really feel good about myself

_ Total

Respond-ability

List your four greatest problems

Trading Problems

Life Problems

Belief Heirarchy

Beliefs are filters which help creat your reality.

The Hierarchy of Beliefs

A change at the deepest level would change the entire system, because

anything at a more superficial level that was not supported by the change

would not be stable.

The Wizard Technique for Changing Your Behavior

Understanding the Importance of Mental Rehearsal

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