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Thanks for the clarification. I know Van Tharp makes a lot of money trying to convince traders that they need to be more disciplined but I am not sure about this. Nonetheless, trader coaches are making more and more money these days and 90% of traders still consistently lose money...hmm
AlAndrew Tomlinson <andrew_tomlinson@xxxxxxxxxxx> wrote:
I was trying to be diplomatic.... But this looked like a beginner enquiryand I still think that the book is not a bad place for a beginner to getsome of the basic concepts of position sizing - along with the admonition tonot take it too seriously and to look elsewhere for detail and math thatadds up. An OK beach and bathroom read. Certainly the web rep on thecourses and tapes is very negative. When I tried to ask some questions onhis web site forum to clarify some of the examples in the book I was metwith hostility and insults by Van Tharp devotees and silence from the manhimself.Andrew-----Original Message-----From: elnaseer dina [mailto:zebra7860@xxxxxxxx] Sent: Saturday, July 24, 2004 2:16 PMTo: equismetastock@xxxxxxxxxxxxxxxSubject: RE: [EquisMetaStock Group] Money Management for TradingI
totally agree with Ed Sekoya and the Turtles group but have to tell youthat two friends ( very bright people) went to Van Tharp's seminar and foundit to be totally useless. I have his book and found it to be too simplisticand unrealistic.AlAndrew Tomlinson <andrew_tomlinson@xxxxxxxxxxx> wrote: Yes, I was thinking of Tharp as a place to start, too. Just don'ttake him too seriously. The numbers he uses are not replicable, and everytime he mentions "expectation" he defines it differently. But he listened toa lot of smart traders and he copied down some good stuff. And check outon the web what people think about his courses before you lay out any moneyon them.
Also look up "portfolio heat" on the web. There's an article by EdSeykota in Stocks and Commodities that is copied in a number of places. -even if your position size is right, the total risk position is key. And ifyou want to see a system with highly developed portfolio risk managementrules look at the original turtle trading rules. They weren't successfulbecause of the entry system, they were successful because of the portfoliomanagement discipline. Andrew -----Original Message-----
From: Richard Dale [mailto:richard@xxxxxxxxxxxxxxx] Sent: Saturday, July 24, 2004 12:53 AM To: equismetastock@xxxxxxxxxxxxxxx Subject: RE: [EquisMetaStock Group] Money Management for Trading Have a read of Van Tharp's "Trade Your Way to Financial Freedom" and consider a % of capital model with volatility-based stops. 2% seemsto be a good compromise between safety and chance of ruin. 1% is better forlarge capital bases. 4% is required if you have a small capital base. The exact level you choose should be based upon your system'sexpectancy and
win/loss ratio. Read the book for a few hundred pages of discussionabout different position sizing models. Best regards, Richard Dale. Norgate Investor Services - Premium quality Stock, Futures and Foreign Exchange Data for markets in Australia, Asia, Europe, UK & USA - www.premiumdata.net <http://www.premiumdata.net/> _____ From: chichungchoi [mailto:no_reply@xxxxxxxxxxxxxxx] Sent:
Saturday, 24 July 2004 2:23 AM To: equismetastock@xxxxxxxxxxxxxxx Subject: [EquisMetaStock Group] Money Management for Trading Does anyone know how to determine the best % of capital for trading? in order to let the profit grow faster and let the loss shrink faster. Thank you Yahoo! Groups Sponsor ADVERTISEMENT click here <<A
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