SuperTrader

 


When I read Curtis Faith's Way of the Turtle, this was one of the top 5 trading books that I recommend that you must read...

"...The otherComplete books I recommend :
(1) Trading for  A Living ( Dr Alexander Elder )
(2) Trading in the Zone ( Mark Douglas )
(3) SuperTrader ( Dr Van Tharp )
(4) Better Trading ( Daryl Guppy)...."


I reread the book over the week end, and I still think that it is one Complete Trading book because it covers all the necessary aspects, namely :
(1) You ( the Phychology )
(2) Business Plan
(3) Trading System
(4) Position Sizing
(5) Optimal Trading Performance


Dr Van Tharp devoted 1/3 of the book to Knowing Yourself...
... obviously he believes that once you conquer yourself and your weakness, your war will be won eventually.
 The 21 areas that he discussed :
(1) components
(2) Honest Self Appraisal
(3) Trading Type
(4) COMMITMENT
(5) Do what you love
(6)Personal Responsibility
(7) Excuses
(8) Empower
(9) Beliefs
(10) Obstacles
(11) Mindfulness
(12) Inner Interpreter
 (13) Disassociate
(14)Balance Trading/Investing
(15) Stuck State of Mind
(16) Failure
(17) Happy
(18) Vitamins for Soul
(19) Discipline
(20) Removing Stored Change
(21) Enough Self Work?

And I liked the way he defined the market into Up, Down , Sideways by using 5.53% change over 13-week  period : UP if return is above 5.53% over the last 13 weeks
                             DOWN if return is below 5.53% over the last 13 weeks
                             SIDEWAYS if return is in between +/- 5.53%
Volatility is measured by that 2.87% change of ATR over the same 13 weeks.


And the results were : 11.9/ 58.29/ 29.80 ( bear/ sideways / bull )
             41.35% volatile : 10.08/20.31/ 10.96
              58.65%  quiet : 1.8 / 37.98/ 18.84