How Much Risk Do You Have to Take a Trade?

Show notes: www.desiretotrade.com/van-tharp/

In episode 57 of the Desire To Trade Podcast, I interview Dr. Van Tharp, a very well-known leader of the trading industry.

From the start, Dr. Van Tharp has, very similar to me, a desire to have an impact. That is something I admire a lot.

During the interview, Dr. Van Tharp asked me about my own beliefs and we went through the "belief examiner" process, which has been very interesting for me. This has been a key elements for traders' transformations.

Trading mistakes are an important part of this interview. Dr. Tharp says traders should aim for 100 trades with a 95% compliance to their rules.

• How Van Tharp has transformed traders
• What is a successful trader
• How beliefs influence all traders
  • You always trade your beliefs. The market is only a representation that we interpret based on what we think.
  • No belief is 100% useful, they are only useful in a context.
• Keys to reach a higher level in trading
• The "belief examiner" process
• Position sizing strategies
• You should write down your rules and track when you don't respect them
  • Looking at what your mistakes cost you.
• And much more!

What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group!