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I downloaded the free "Secrets of the Masters Game" and played with
it. The first 2 levels are a piece of cake. The 3rd level is
difficult, but in only 3 trials out of 75 I finished it. I think I
have unlocked the secret code for the right combination of the Risk
($ per Share) and Investment level (# Shares to buy.) This is no
mean feat. There is only one combination which is optimum. Find
this combination and I would acknowledge that you are a Master and
you dont need to spend on anything else. Here are the instructions
to download and for the game:
http://www.iitm.com./_vti_bin/shtml.dll/regform.htm
Position Sizing™: The Secrets
of the Masters Trading Game
Instructions for Level Three
This level is similar to level one. You are given a trading system
that goes long in the market. Your only choice is to decide how
much to risk for each trade. That's it! You simply decide how much
to risk. Overall, level two is an even better system than level one
gave you. Over many trials, your expectancy will be 0.91 as
compared with 0.45 for the first level.
Now that you've reached this level, we recommend that you begin by
saving the game. If you should go bankrupt, you will have to start
again at the beginning of the game if you don't have a saved game at
this level. However, we hope you can get through the game without
going bankrupt.
Once again, you will have the opportunity to make 75 trades. Your
minimum goal is to make a profit of 50% by the end of the 75 trades
so that you can advance to level four. However, you will
automatically advance to level three should you increase your equity
by 500% from the starting value.
If you have not made a profit at the end of 75 trades, you will need
to start this level over again. However, if you have made a profit
that's less than 50%, you will then have another 25 trades to reach
your goal of 50% to advance to the next level.
If you have a loss at the end of 75 trades, you will have to start
the level over again with a 10% penalty (subtracted from your prior
starting equity).
The probabilities and payoffs for this level are given in the
statistics section of the game (in the View menu.) We'd suggest
that you study them carefully and develop a strategy before you
begin the game.
Level Three
Questions & Answers
Question:
Why am I not allowed to go short? I would be right 70% of the
time. Isn't that what it's all about?
Response:
Hopefully you'll step out of the box of needing to be right by
playing this game. You should be learning the importance of large R-
multiples over being right. Wait until you get a 30R or 20R trade
in your favor and see what that does for your account. Or would you
rather have that against you? If being right is that important to
you, you'll have your chance to go against the expectancy in level
five.
Question:
What's a good strategy to play this game?
Response:
Figuring out a good strategy and learning from your mistakes is one
of the skill requirements of this game. What is your worst-case
loss? It's four percent, so you'll risk bankruptcy by risking over
25% on any trade. Also think about how many losses you could have
in a row. You're only right 30% of the time. It's very likely that
you might have 9 losses in a row in your 75 trades. You might even
have a streak of losses as big as 20 or more. You need to play to
survive that you that you can make money on the 30R trades that
might come up. With those two guidelines, design your own strategy.
IITM also sells products designed to help you with strategy
development. These include 1) the money management report; 2) a
newsletter issue devoted to optimal bet size; and 3) optimal bet
size software that will be available for purchase in mid-2002.
Question:
Once again, I don't have much information on any of these
investments or trades. How am I to know which one's will go up?
Response:
You don't know what will go up, that's true. But you do know the
payoffs and probabilities of the system you will be trading. That's
all you need to know to figure out to work out bet sizing
strategies. Those strategies are the key to success and this game
is designed to get you away from predicting the market and into
thinking about those strategies.
rgds, Pal
--- In amibroker@xxxxxxxxxxxxxxx, "relentless1000" <cgmv@xxxx> wrote:
> I purchased the "Developing a winning trading system that fits
you"
> audio tape course back in December 03 (got it on sale for $699).
> Just as I've found with other books and courses its not a
blueprint
> for making a fortune, but I did come away learning a handful of
> helpful things.
>
> I found it a little pricey since it is an audio taped seminar.
The
> advertising for it says it's profesionally edited. I found the
> recording to be of less quality than I expected. Several times
> through the 12 tapes people in the seminar ask questions or make
> comments that you cannot hear well, sometimes even the instructors
> cannot be heard for short periods until the microphone picks them
> up. Not a major problem but for ~ $ 700+, I expect a little
better
> job than this.
>
> The content is organized well and pretty informative, altough I
think
> for much less money you could buy some books and get pretty much
the
> same info. I think if you studied Van's book "Trade your way to
> Financial Freedom" and Charles LeBeau's book "Computer Analysis of
> the Futures Market" (Charles was a major part of the audio taped
> course, I found his input very helpful) you'd get a majority of
the
> technical content.
>
> Good Luck
>
> GV
>
>
>
>
> --- In amibroker@xxxxxxxxxxxxxxx, "Al Venosa" <advenosa@xxxx>
wrote:
> > All of his stuff is pricey. I never took his peak performance
> course, but I know someone who did. He learned a lot about himself
> when he went through it, but I don't think he is using much of it
> today. Just like anything else. I don't think you are using much
of
> the stuff you learned in college today, either, but it was good
> training. You pays your money and you takes your chances, so goes
the
> cliche. Why don't you call Van and ask him about his course
> offerings?
> >
> > Al V.
> > ----- Original Message -----
> > From: Greg
> > To: amibroker@xxxxxxxxxxxxxxx
> > Sent: Saturday, March 06, 2004 10:56 AM
> > Subject: Re: [amibroker] Comments on Van Tharp courses please
> >
> >
> > Al and Phil,
> >
> > Thanks for your comments on Van Tharps' courses. I was
wondering
> if you know anything about his Peak Performance Course for
Investors
> and Traders. It looks interesting, although a little pricey. I
know
> of people paying much more for a personal adviser that works with
> them on some of the areas that Tharp deals with, such as making a
> business plan. Seems like Tharp goes into areas that will
> psychologically prepare you for trading. I guess I'll have to read
> through the description of the course more thoroughly and then
decide
> if I it would be worthwhile for me.
> >
> > Thanks again for your comments,
> >
> > Greg
> > ----- Original Message -----
> > From: Al Venosa
> > To: amibroker@xxxxxxxxxxxxxxx
> > Sent: Saturday, March 06, 2004 11:41 AM
> > Subject: Re: [amibroker] Comments on Van Tharp courses please
> >
> >
> > Hi, Greg:
> >
> > I took Van's Advanced Stock Market course about 2.5 years
ago.
> Don't even know if he still offers it. Although I enjoyed it
> immensely, especially all the money management material, the main
> lecturer, Dennis Ullom, was a CANSLIM trader of sorts. Since I'm
more
> of a mechanical trading system type of person, I didn't get that
much
> out of his presentations because a lot of that sort of trading
> philosophy is discretionary, or at least subjective judgment. If
> that's your thing, then you will likely get a lot more out of it
than
> I did. But I thought the money management stuff was very
worthwhile.
> For about $80, you could buy Van's Report on Money Management plus
> his book "Trade Your Way to Financial Freedom" and learn all you
need
> about money management for a fraction of the price of his course,
> IMO.
> >
> > Regards,
> >
> > Al Venosa
> > ----- Original Message -----
> > From: Greg
> > To: AmiBroker@xxxxxxxxxxx
> > Sent: Saturday, March 06, 2004 10:18 AM
> > Subject: [amibroker] Comments on Van Tharp courses please
> >
> >
> > Hi,
> >
> > I was wondering if anyone here has taken any of the
courses
> offered by Van Tharp. If so could you please comment on there
> helpfulness.
> >
> > Thanks,
> > Greg
> >
> >
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