This question was asked by the same person who asked the last question, but it requires a totally different answer. Now that we discuss System Quality Numbers (TM) we are going to be rating all sorts of systems based upon their system quality numbers and we should have a good idea that will give you such a smorgasboard in about a year or so. In the meantime,

1) If you write a newsletter or have a long-term bent or run some sort of big portfolio, then value investing is the best idea (and Benjamin Graham is the classic source).

2) If you like trend following (as I do) then Michael Covel's book, Trend Following, is a good source.

3) If you like short term trading, then Tony Crabel, Jeff Cooper, and Larry Conners are good sources.

If you want the big picture on how to put it all together, then read the new edition of Trade Your Way to Financial Freedom and also do our Systems workshop.

Posted by Van K Tharp at 03:50 PM | Permalink | Comments (2) | TrackBacks (0)

What are the best resources that you know of to get specifics on system design insights, especially setups and entries?

Another common question and I'd like to respond to that one with a question, "What are the beliefs that you have that inspired that question?" That they are important? That there is some magic entry technique that will give you much better results than any other? That entries are somehow the key to developing a successful system? Well, these are all beliefs and what happens with such beliefs is that they shape what are important?

I my opinion, I said everything that is important about entry and setups in the new edition of Trade Your Way to Financial Freedom. And what I'd suggest is that you discover what you believe about setups and entry (and trading in general). When you really understand that, then it is pretty easy to develop a system that fits that.

Ken Long actually did an exercise in which he wrote down the opposite of all of his beliefs about the market and entry and designed a system around that. It turned out to be his best system.

Posted by Van K Tharp at 01:36 PM | Permalink | Comments (0) | TrackBacks (0)

The real purpose of trading is not to make money. If that's your goal you probably struggle with it a lot. But all of the following tend to work.

If you goal is to be a great trader, then you probbly will do well.

If you goal is to use trading as a way to measure your self-development, then you will probably do well.

If you just love trading and that's why you do it, then as long as you are willing to work on yourself you will probably do well.

Those, in my experience, are the key motivations that bring success in trading.

Posted by Van K Tharp at 12:17 AM | Permalink

One of the questions I get all the time is "How can I find out what beliefs are holding me back?"

The real answer to this question is that ALL of your beliefs are holding you back. I may explain that one later, but for now just notice how useful your beliefs are. For every belief you have, ask yourself, "Did I select this belief?" And "How useful is this belief? What are the consequences of having it?" Chance are, if the belief was not deliberately chosen and if you can see some definite negative consequences of the belief then it is one that you should diffuse and replace.

One of the biggest problems in doing this is that the least useful beliefs were probably formed as a result of some negative emotions. This means that they have a lot of charge on them. And when beliefs are charged with energy, it usually takes therapeutic techniques to get rid of them. Get someone's help.

And if you don't know what your beliefs are, especially about yourself, start listing them. Start journaling on a daily basis and then every day write down the beliefs that you notice you have about yourself as a result of that journaling.

Posted by Van K Tharp at 09:27 PM | Permalink | Comments (1) | TrackBacks (0)

I said that I'd use this Blog partially to answer questions. Well, the first one is quite interesting. It's "How do I discover, first, and then set to achieve, second, what is truly that I want to be?"

The universe gives you a real clue about this and that is to do what you love to do. However, sometimes this is difficult to find unless you undertake a core program of working on yourself.

First, there are a number of such programs and I'd recommend you start on it. And when you reach the point at which you can say to yourself, "Wow, I've got a lot of stuff to work on, then you'll know you've made some progress."

I'd almost call this a spiritual journey. And what you will find happening is as you progress along the journey, you'll just gravitate toward what you love to do and be.

Incidentally,my friend John Strelecky has put out a book and a video on the topic of why are you here and what are you big five in life. This program is an excellent starting point for finding your passion.

Posted by Van K Tharp at 10:21 PM | Permalink | Comments (2) | TrackBacks (0)