Kamis, 07 April 2022

How to Become the Next Market Wizard ๐Ÿช„

Shield

AN OXFORD CLUB PUBLICATION

Liberty Through Wealth

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EDITOR'S NOTE

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THE SHORTEST WAY TO A RICH LIFE

Van Tharp and the Power of Position Sizing

Nicholas Vardy | Quantitative Strategist | The Oxford Club

Nicholas Vardy

I recently learned that Van Tharp, one of the world's leading trading coaches, had passed away.

Tharp gained notoriety in the trading world through his interview in Jack Schwager's classic book, Market Wizards.

And through the Van Tharp Institute, he trained thousands of traders throughout the world over four decades. I took several of his courses myself. His work influenced my thinking greatly.

As it turns out, Tharp was also associated with The Oxford Club in its early days. He even wrote a book with The Oxford Club's then-Investment Director Steve Sjuggerud.

And you can see the lasting influence of Tharp's thinking today in one of The Oxford Club's Pillars of Wealth: knowing your exit strategy and sticking to it.

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From Tharp, I learned that the "biggest secret" to successful trading is your psychology. He taught traders about "cognitive biases" long before they became fashionable.

In addition, Tharp taught courses in money management - the most underrated skill in successful trading.

Ironically, I've never seen money management discussed in any mainstream investment textbook.

Yet it's a discipline that applies to all types of markets, all the time.

And in today's speculative environment, I see many retail investors ignore money management at their peril.

See Why Money Management Matters.
Video: Next-Level Gains?

Click here to watch Nicholas' latest video update.

For the latest news from Nicholas, connect on Facebook and Twitter.

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