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4.3 out of 5 stars
4.3 out of 5 stars
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Showing 1-7 of 7 reviews(1 star). Show all reviews
on February 13, 2003
Mr. Tharp has a talent for making simple things complicated and for oversimplifying complicated things. His book starts out with a tortuous discussion of the Holy Grail with a little Joseph Campbell thrown in to give it scholarly weight. What a hero myth has to do with successful trading is never explained except to say that when "you really understand the the Holy Grail metaphor, you will understand the secret of making money in the market." Hmm. I guess the key to understanding this sentence is in the "really" part, because I really don't get it. The use of the word "secret" also provides a clue. Mr. Tharp has the irritating habit of always implying that he is letting his readers in on truths that are hidden to ordinary mortals.
The book is laden with jargon, twisted syntax and incomprehensible philosophical nuggets of dubious applicability: "The reality that we know consists solely of our beliefs. As soon as you change your beliefs, then your reality will change. Of course, what I've just said is also a belief. However, when you adopt this belief for yourself, you can begin to admit that you don't really know what is real. Instead, you just have a model of world by which you live your life..." and so on ad nauseum. You know, it is the "je pense donc je suis" investment methodology.
So, if you can get through all this extraneous material, there are some sections pertaining to trading. The presentation of this material is tortured and I suppose one can learn a few things about how to construct a trading methodology. Unfortunately, this part of the book is presented in circuitous sentences that are also larded with jargon.
I confess I found it difficult to get through the book At the end of the book, Mr. Tharp makes the stunningly egomaniacal suggestion that one might wish to re-read the book not once, not twice, but four or five times. Does he really believe that his approach to trading is that valuable?
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on October 12, 2000
I learnt much more reading books from Ralph Vince and Chuck LeBeau. This book is all about theory... If you like philosophy... If you don't, read Joe Krutsinger's books for instance.
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on May 10, 2003
I couldn't agree more with jsclinton, below. I had assumed that, with all the lavish praise I've seen heaped on this book, I was the one who didn't get it. All the mumbo jumbo must be of value, surely?
No, I don't think it is. There is sufficient interesting information on position sizing to fill a small pamphlet, the rest is just endless filler.
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on April 16, 1999
I feel that the author takes the game of trading and tries to simplify it way too much. Does he know that firms and hedge funds sometimes spend $100 million a year on research and computer systems and most barely break even. This last statement is not an opinion, it is a fact which sadly is true. Does he know that there is a new study stating that over 99% of market participants lose in the long run. People should realize that when one trades, one is competing against many professionals who have devoted the better part of their lives to trading. These professionals are better equipped and have better information. By the time the average investor gets this info it is better to fade it. I appreciate the author trying to help others, but why would anyone want to give away trade secrets? The title is very misleading and so is the book, but I guess that is why people will buy into it.
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on January 6, 2002
Let me get straight to the point. I do not undertand how this book got such rave reviews...Reading the book is a complete waste of time and I want my money back...It is the most boring book I've ever read regarding trading and investing...
I can honestly say that the whole book contains only about 20 pages of useful material. Even the topics such as "expectancy" and "position sizing" which the author claims only few traders understand and use are really just fancy names for terms that most of us already know...This is the first time I gave only one star for review and for good reason. Save your time and hard earned money...and keep away from this worthless book.Take my advice..You'll appreciate it!
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on May 4, 2004
If the author knows it all why doesn't he trade? If I knew it all about trading I wouldn't do anything else and I certainly wouldn't teach it ...
Simplistic, aimed for the ignorant, hopeful reader. The concept exposed is very simple: the market is random. If you bet 1% you can't loose ... at the end of the year you win. I mean Van writes that even without a method you make money like this ... you got to be kidding me!
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on May 17, 2004
I bought and read it. So where's the success? I mean the author's success as trader? I pay to see his trading statements for the last 15 years. Got to be audited statements. I mean, he says he knows what the holy grail is, how it (the market) works, how one makes money at it (the market). So he's got to have broken it right? Trading that is. (!)
Or, are we talking about a DIFFERENT KIND of success???!! Success in selling the idea that he "knows" all there is know about making money at the markets? Terribly cinic in my opinion. People need to beleive in anything. Beleive Van. You are contributing to his bank account.
Not one SINGLE piece of evidence is available about his success (at trading the markets). The other success is well known.
Oh Aristotle, you were right! Not all those who attend the games (the olympics) are players. Some are cynics as you say and so many spectators (consumers) for both the cynics and the players.
A player!
(for 4 years)
So, I bought it, read it and returned it. But go ahead.
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