Trading Beyond the Matrix: The Red Pill for Traders and Investors, by Van K. Tharp PhD
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Trading Beyond the Matrix: The Red Pill for Traders and Investors, by Van K. Tharp PhD
Download Ebook PDF Online Trading Beyond the Matrix: The Red Pill for Traders and Investors, by Van K. Tharp PhD
How to transform your trading results by transforming yourself
In the unique arena of professional trading coaches and consultants, Van K. Tharp is an internationally recognized expert at helping others become the best traders they can be. In Trading Beyond the Matrix: The Red Pill for Traders and Investors, Tharp leads listeners to dramatically improve their trading results and financial life by looking within. He takes the listener by the hand through the steps of self-transformation, from incorporating "Tharp Think"―ideas drawn from his modeling work with great traders―making changes in yourself so that you can adopt the beliefs and attitudes necessary to win when you stop making mistakes and avoid methods that don't work. You'll change your level of consciousness so that you can avoiding trading out of fear and greed and move toward higher levels such as acceptance or joy.
―A leading trader offers unique learning strategies for turning yourself into a great trader―Goes beyond trading systems to help readers develop more effective trading psychology―Trains the reader to overcome self-sabotage that obstructs trading success―Presented through real transformations made by other traders
Advocating an unconventional approach to evaluating trading systems and beliefs, trading expert Van K. Tharp has produced a powerful manual every trader can use to make the best trades and optimize their success.
Trading Beyond the Matrix: The Red Pill for Traders and Investors, by Van K. Tharp PhD- Amazon Sales Rank: #2866889 in Books
- Brand: Tharp, Van K./ Murray, Michael Butler (NRT)
- Published on: 2015-06-16
- Formats: Audiobook, MP3 Audio, Unabridged
- Original language: English
- Number of items: 1
- Dimensions: 6.75" h x .50" w x 5.25" l,
- Running time: 12 Hours
- Binding: MP3 CD
Amazon.com Review Q & A with author Van K. Tharp What prompted you to choose the book title, Trading Beyond the Matrix: The Red Pill for Traders and Investors?
When I saw the movie The Matrix, I said, "I don't know if the writers really understand how true their metaphor is!" That's because there really is a Matrix that masks reality. That Matrix is our beliefs. Sometimes I'm totally amazed at the beliefs society and other people try to impose on us. And a long time ago I realized that we need to look at our beliefs in terms of utility. How useful are they? When I adopted that belief, my life changed forever.
Anyway, this book is my attempt to convey just that. When you realize that everything is programmed, then you can be like Neo in the movie and reprogram yourself. When you do enough transformation, you might even be able to step outside of the Matrix . . . which is what I call "Trading in the Now." So this book really is the "red pill" for traders and investors.
This book is really about transformation, is it not?Exactly. I've always known that my mission was transformation through a financial metaphor. My whole staff thrives on frequent comments like: "You have changed my whole life for the better, thank you." We had a staff meeting several years ago and decided that we should really promote the mission. For example, I occasionally hear people say that if Van Tharp knows so much about trading, then why doesn't he just trade? Well, the presupposition behind that statement is that "the be all and end all" of life is the money you make from trading. It's not for me. It's what I just explained.
One of my staff members suggested that perhaps I should write a book about transformation and I found that very exciting. I've already written a five-volume course on peak performance trading and I really didn't want to duplicate that in discussing psychology. So at this point none of my books have been what I'd call an in-depth psychology book--that is until this one. But transformation gave me a new angle to really talk about the "you" factor in trading, as one will read in this book. We believe that we take our clients through three levels of transformation--this is what's covered in the book. The first level is the core beliefs that come out of my modeling work with top traders. You have to share a top trader's beliefs to become one. I've never seen anyone else provide all of this material together, so we call it Tharp Think. So, the first section of the book is about how people transformed themselves using Tharp Think principles.
Second, most people can't just adopt those principles. Instead they have to transform themselves. The second part of the book goes through various transformation techniques that will help you adopt Tharp Think. However, my approach in the book is rather unique. I have one chapter devoted to each of a number transformational techniques, the first one being how to look at and change your beliefs. Each chapter also focuses on one person's transformation using one of the techniques. It is a lot like a story about transformation.
Lastly, if you do a lot of personal transformation, then your level of consciousness will tend to change. For example, everyone knows what happens when you trade out of "fear" or "greed," which are rather low levels of consciousness. Now imagine what would happen if you traded from "acceptance," which is a much higher level. The results would vastly improve. And how about if you could trade from "an enlightened state" in which there was no internal chatter and you just see the market for what it is. The trader who wrote Chapter 16 trades from such a state and her results are phenomenal.
R multiples is a big focus in the book. It helps take the bias out of trading it helps on the psyche. Can you go into more detail about this?One of the principles of Tharp Think is that you should predefine your risk (which I call R) before you enter a trade. Another key principle is that you should always think in terms of reward-to-risk throughout the course of a trade. I encourage people to do this by thinking about their profit and losses from a trading system as a function of the initial risk. For example, if your initial risk is $1000 and you make $5000, then you made five times your initial risk or a 5R profit. If you lose $500, because you raised your stop, then you lost half of your initial risk or minus 0.5R.
When you start doing this regularly, it becomes ingrained to think about reward to risk (and how often do you hear the media talk about that). The average R value of the results is the expectancy of your system. You also realize that a trading system can be characterized by its R-multiple distribution. And you can ever measure the quality of a trading system. So there are huge advantages of using R-multiples.
Can you address the topic of women and trading?Absolutely. For whatever reason, women are not attracted to trading as much as men. About 10-15 percent of the people who come to our workshops are women and about 10-15 percent of the people in our database our women. I think women are every bit as qualified as men, but they need to make the decision.
There is some good news. I had four women join my Super Trader program in 2013--and that quadruples the number of women enrolled. The women in the program are doing well, so I would definitely encourage more to start.
The book provides a great foundation to develop training workshops about your trading methods; do you hold workshops or training sessions?We have several home study courses, an expanding selection of online courses, at least 12 different workshops, numerous books, and a super trader program that combines all of that. So if you think you are weak in some area, like understanding the basics, needing a trading system, developing a trading plan, or working on yourself, we have workshops for all of it.
The book speaks to the reasons why someone is not trading. Is your objective in the book to help them evaluate their situation and help them start trading again?I'd be disappointed if that's all it did. I'm expecting a lot of people to tell me or my staff that this book changed their life--that's a lot more rewarding to me. Imagine, there really is a matrix and there really is a red pill you can take to get out of it--the red pill is this book.
From the Inside Flap
In the sci-fi movie classic The Matrix, the hero, Neo, was given a choice: take the red pill and see the world as it truly is, or take the blue pill and wake up in his bed believing whatever he wants to believe. Of course, Neo takes the red pill, and the adventure begins. Now, what if there were a real Matrix and a real red pill?
A trading and investing guide unlike any other, Trading Beyond the Matrix is your red pill. It invites you to see a new world if you have the courage to free yourself from a lifetime of programmed thinking about what's possible and what's not, including what you deserve out of life. Discover new ways to dramatically improve your trading results and your overall financial well-being by looking within yourself and shining a light on the engrained ideas, beliefs, and perceptions that influence every one of your trading decisions and that may keep you from the success you deserve.
Written by the legendary Dr. Van K. Tharp, Trading Beyond the Matrix is the culmination of his thirty years spent helping traders become the very best they can be. He has observed traders progress through a journey of three stages, the first of which is "Tharp Think." At this initial stage, you will learn a set of powerful rules that Dr. Tharp developed during his financial modeling work with numerous Super Traders. Time and again, these rules have been proven to deliver big returns for traders who understand how to apply them.
On the next leg of your journey, you will take your first giant step on the road to transforming yourself as a trader. You'll learn to take a hard look at your fixed beliefs about trading and the markets, where they come from, and you'll begin to understand that, in Dr. Tharp's words, "You don't trade the markets, you trade your beliefs about the markets." You also will learn to identify which beliefs are healthy, productive ones and which aren't and begin to release yourself from their hold. And that's just the beginning of your transformational journey taking the red pill.
In the final stage of your journey, you will begin to awaken to life beyond the Matrix. Like Neo, you will learn to transcend your programming and discover the true power lying dormant within you. Here Dr. Tharp arms you with the tools you need to take an evolutionary leap forward as a trader—and as a person.
More than just another collection of "surefire" trading strategies and techniques, Trading Beyond the Matrix takes you on a journey of self-discovery, during which you will come to understand who you really are, how your personal psychology affects your every decision, and what, with Dr. Tharp's guidance, you can become: whatever you desire . . . even a Super Trader.
From the Back Cover
Praise for Trading Beyond the Matrix
"Tharp Think has always been at the cutting edge of trading technology . . . now be prepared to go way down the rabbit hole of transformational trading. You will discover that the 'holy grail' system has everything to do with the newest frontier in trading and that the Ultimate Edge in trading is spirituality. This is a must-read for people who want to find out how to take their trading to the next level."
—LIBBY ADAMS, PhD, Executive Director, International Academy of Self-Knowledge
"Dr. Tharp's new book shows traders how personal psychology can work for you instead of against you, how to think about and manage risk, and how that can translate into developing a winning trading system. I am adding his latest book to the top 10 must-read books for all traders."
—LANE J. MENDELSOHN, founder, TraderPlanet.com
"The proof of a great system is that someone can duplicate the results using the same methods. Van Tharp's system meets this criterion. Here we have real people with real results. If you want to consistently make money in the markets, read this book and transform yourself!"
—D. JANIE GUILL, former Sr. Director of Worldwide Procurement, Microsoft
"Trading Beyond the Matrix, more than any other of Van's great books, reflects his personal journey. The stories of trading and personal transformation illustrate what 'transformation through a trading metaphor' means. They are inspirational and offer practical guidance and applications that will improve both you and your trading."
—MALCOLM PRYOR, author of the UK bestseller The Financial Spread Betting Handbook
"Tharp saw long ago that successful trading had far more to do with the trader than with the trade itself. Tharp shows us that those traders who are in the highest states of consciousness will naturally be the most successful, not only at trading, but at life as a whole. He gives us a clear set of guidelines and exercises to help us to achieve this new expanded conscious awareness and show us how to achieve happiness on all levels: physical, emotional, and spiritual. Trading Beyond the Matrix is a book for everyone. I particularly wish to encourage my many friends in the spiritual community to take advantage of Van Tharp's deep insights about the relationship of matter and spirit."
—STUART MOONEY, author of American Buddha and day trader
"Transitioning to the mental side of trading seemed easy for me. For many, that is not the case and here's where Trading Beyond the Matrix excels. The reader can relate to the stories about actual successful traders who have overcome their own biases, beliefs, and surroundings that held them back from success and how each trader has to figure that out and deal with it before becoming successful."
—TOM BASSO, New Market Wizard and founder of Trendstat Capital Management, Inc.
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Most helpful customer reviews
28 of 30 people found the following review helpful. How to be a Spiritual Trader By Steve Burns This is a trading book like no other. Van Tharp is one trading author that helped me get over the hump to trading success with lessons from his past books. It is hard to argue against the fact that Van Tharp is the top psychology coach for traders in the world. In this book he reiterates and expands on many key concepts that lead to trading success.1. Trading with the use of R Multiples. Risk a set amount per trade with the goal to make a minimum of three Rs for every one risked. If the trade is does not work out cut the loss at 1R.2. Only trade if you have an edge, which is defined by only taking the very best trading opportunities, position sizing correctly, being in control of your feelings, and having a great risk to reward ratio, etc.3. To be a successful trader you must know what your trading objectives are, how much do you want to make in a year? What percent of return are you looking for?4. You need defined goals of whether you want to trade for a living, make a million dollars, or just for capital appreciation.5. A primary goal of this book is to make the leap from trading our opinions about the markets to trading what is actually happening in the markets.The power of this book is in the psychology and spiritual insights shared by both the author and many successful traders that share their journey with the reader with the chapters they wrote for this book.6. Traders must analyze their beliefs to see if they are helpful in their life or need to be discarded for more pragmatic beliefs.7. Traders can overcome negative emotional charges linked to beliefs and circumstances by being mindful of why emotions are surfacing in certain situations.8. The book explains how traders must battle with many different desires affecting our trading due to different persona's battling each other. Traders are fathers, husbands, risk managers, want to be right, want to win, and want to pay bills, these conflicting priorities is what can make traders go off their plans and do strange things that they didn't want to do.9. If a trader's top priority is to be right all the time they will have a very difficult time. Great traders judge a good trade by a trade where a trading plan was followed regardless of the monetary out come.10. The big difference in this book is that Mr. Tharp believes that Super Traders must be in touch with their own inner guidance or a higher power to truly excel in the markets.I got a huge value from this book's teachings. It went deep down the rabbit hole of some super trader's psychology and spiritual paths to success. It really made me much more mindful of my own issues on those levels. This book does have New Age spiritual teachings that may offend church goers and the members of some main stream religions. Agnostics and Atheists will also have trouble with many of the concepts of this book. I had trouble with the spiritual journey and 'miracles' of Chapter 10 and I am very open minded and pragmatic. But that did not diminish the value I received from this book's principles. With that said it is possible to use the spiritual concepts in conjunction with your own spiritual beliefs about a higher power, also Atheists higher power may be probabilities and universal laws and their inner guidance may be logic and reason over emotions.This trading book is one like no other and very helpful with any traders trying to overcome the mental or spiritual side of trading the financial markets which is what trips many up.
24 of 26 people found the following review helpful. Great and Comprehensive By shiloh8 I am amazed that Dr. Tharp was willing to put so much information into a book. He has checklists for all the critical points in his Tharp Think with examples of how people have applied them. If you want to know how top traders think, read this book. I has the information in tabular form, so you can get it quickly. Only only that, Tharp has a complete checklist of everything that you need to put into a business plan for your trading. The checklists and the last chapter alone are worth more than the price of the book.More importantly, it is clear that many people can't follow the key principles of trading. So, to help you, Dr. Tharp has given a step by step program of how you can transform yourself so you can be a great trader - from getting rid of conflicting beliefs to releasing charged feelings that keep those beliefs locked in place. Until now, the only way you could get this information from Tharp was to take one of his expensive workshops or buy his $800 home study course. Now its all here in this book. I can't believe he did this!What's amazing is that some people are reading this book and not getting that. It seems they read to the Internal Guidance part and turn off to the whole book. That just proves a couple of the statements of the book: 1)that whatever you believe, you are right; and 2) spiritual beliefs are at the top of the belief hierarchy.In my opinion, transformation section of the book is the dessert. It really shows clearly how to raise your consciousness and become happier. What's that worth? And if you don't think it is worth a lot, look at the case studies. You can see that when you raise your consciousness you can begin to see the markets exactly as they are without the biases that Tharp talks about in his other books.This book is an absolute gem. Buy it now and read it over and over again until you really get it. I would give it ten stars if I could.
57 of 67 people found the following review helpful. Context By D. Witkin As one of Van's so-called "Super Trader candidates" and author of the first contributed chapter, I thought it would be worthwhile to make a few comments for many of you traders and aspiring traders who are probably more like me than like Van.Along with Van's written context, the first two-thirds of the book relay real stories from traders who have bought-in to many of Van's concepts. While some of the concepts in these sections are well known to people who have read other trading books with a psychology component, the format is new. Instead of an author giving only his take or providing examples that seem completely beyond reach (e.g., Ed Sekota's returns or those of some of the other Market Wizards), this book has stories contributed by regular people who have applied many of Van's concepts. I love good book knowledge as much as the next guy, but I think having real stories written by the people who lived them is incredibly powerful. I've met a number of the authors and found them to be credible and very down-to-earth.Many of the concepts talked about in these early sections are fairly well accepted by the established trading community at this point - the importance of position sizing (probably my favorite), mental discipline, planning, and removing psychological barriers to success. As is typical for advice generally accepted by any community, other authors, like Elder and Steenbarger, give advice that overlaps in some (but not all) areas.The final third of the book is not nearly as accepted within the trading community - the role of a spiritual practice and belief system to enable trading success. I would not have embraced this part of the book 5 years ago and parts of me still don't accept all of it. Even so, I've come to understand from a logical perspective why it is possible spiritual beliefs could play a key role in trading. If you already accept that psychology is a part of doing the right things in trading, then seeing a role for spiritual beliefs really isn't a tremendous leap. People who are truly spiritual -- meaning they have learned to be at peace with the universe as it is -- are more likely to accept and deal in useful ways with otherwise stressful and challenging situations, like those we face in trading. If you can be a successful trader without adopting spiritual beliefs, great. Van has found they help many people because they have the ability to transform your view of life, which makes them incredibly useful for traders.I would not be surprised if the trading community had as many agnostics and atheists as any community - present company included. But even with those beliefs going in, if you can start making decisions based on what is useful instead of based on your distaste for things you can't see or touch (easier said than done, I know), you may be able to embrace the usefulness and logic -- yes, logic -- of spirituality as it relates to trading and life. If not, then ignore it -- I did for many years -- and many of you will be successful without it. But if what you are doing doesn't work, spend some time thinking about any psychological roadblocks you have that keep you from trying it for a few years and whether those roadblocks are helping you.Finally, I'd like to mention that I've gotten to know Van as a person over the past two years and he genuinely cares about people and transformation, so much so he has chosen to include content in this book that is not (yet) generally accepted. Writing about concepts that are not already embraced is always a bit dangerous; he understands that and is publishing the book anyway because he believes it can help people. In my view, that's brave.I hope you enjoy the book.Dave
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