Thanks Gareth. Reminds me a bit of Dr Elder. One of the key messages is that we all need to devise a personal system based on our own psychology and intellects. It's usually a mistake to try and copy other people blindly. Looking forward to the next video.
Life is so precious, when you know you own a property or an investment to always keep you on go..I have no regrets starting my journey in cryptocurrency.
When it comes to the world of trade, most people don't know where to start. Fortunately great invest!ors of the past and present can provide us with guidance
@Sun Abelarda .Take my advice ( don't trade )buy or hold for years then get retired. You don't want all the stress and crazyness involved in trading. Don't believe the is formula
nice videos!!being a fan since the beginning here!! you have done a serious work, but lately i have been feeling you are more interested in selling your products and make me wonder if maybe that was your main goal!! Anyway, thank you for your videos because they are absolutely brilliants!!
Hi Julian, thanks for the feedback, fully appreciate what you are saying and this was/is really not my intention. I set out with one goal in mind and that was to project my passion to others, especially those who are falling for all the hype and fake gurus etc...during the process so many have asked for my approach and after almost 2 years I decided to provide it, of course the channel takes a huge amount of effort so asking for a relatively small contribution helps toward that. It’s not a course others ask 100’s or even 1000’s for but something that helps me improve the channel and free education further. Nonetheless I completely hear you and it was always a concern of mine, I’ll try not seem to pushy with it..., thanks for the support 👍
No reason to be bashful about promoting a great service. You are offering great value in the videos and life-changing information to members. You should be pushing as hard as you can!
@@FinancialWisdom thank you very much for taking some of your time to reply and for making these amazing videos, i can truly see your passion and experience. My concerns are just related to some bad experiences i had in the past, but it is totally more about me and my doubts than about your work and your content, because i totally appreciate what you have done, thank you again for sharing all this with us!!!
@@julianzamoralarenas25 hi Julian thanks, really means a lot knowing people are finding value. yes lots of charlatans leaving a bad taste for many unfortunately. Thanks again👍
I have read Dr. Tharp's book and agree with everything he says as it applies to 99.99% of potential traders. But being a systematic trader is like a poker player who knows all the odds of every card combination on the table: He will make money...but will never make monster money. There is a personality factor in some traders...and some poker players...that consists of an X factor that allows them to read their opponents and go all-in at the perfect time. As Jesse LIvermore said, "When I am right, I want to get all that is coming to me." In other words, under certain rare conditions, it makes sense to go all in. And THAT is something that I feel cannot be taught.
Hi Fart - I agree wholeheartedly, although there are some objective confluences that can be targeted for that all in approach, but yes most do not have the attitude and patience to adopt such a strategy.
Let's not forget that Livermore got bankrupt multiple times, losing a shtload of money, more and more each time. At the end he took his own life because of losses. It is never worth to go all in, or if you do, at least hedge yourself to some extent with something (be it options, broad indexes, etc.). You can be lucky and even hype your own ego for a long time but you will be more reckless over time and in the end you will pay for that.
@@jj-big-slay-yo True, but Livermore tells us exactly what his negative tendencies are in Reminiscences. He says multiple times that if he had stuck to his methodology he wouldn't have lost money. But it is a flaw in humans that we tend to focus on one thing and lose sight of relatively obvious alternative outcomes. What he didn't know was that, despite the incredible crash of '29, the market wouldn't bottom until mid-1932, I have no doubt that he assumed a rebound was on its way after '29 and started buying rather than blindly following his tape reading skills. This is what he did after making a fortune in the crash of 1907, and he made a second fortune on the way up. If he had followed the tape, he would've easily become the richest man in the world by 1932.. But such is human nature. And the rest is a sad history.
What I understood from this video is that Dr. Van Thorp was never a trader, but a person who studied best traders on earth, 5000 of them. So, basically he statistically correlated some stuff. So, we need to believe that a man who never trade or could not make money in trade, can become a super trader coach? I somehow can not gulp down this logic!
1st i want to thank you for all the excellent content. I have definitely learned a lot in the short time i've been watching your videos and very glad i found you. 2nd i'm considering joining your strategy group but i have a question. Are the trades in your group on the US stock exchanges or are they on the British (London) stock exchanges? Being from the US I just want to make sure they are on the US stock exchanges (where i am more comfortable).
I tried to replicate your numbers but I am getting14.5 % as opposed to 16% . (My calculations are (0.25 [25% or 1 in 4] X0.58) = 14.5 %. What am I missing ?
POSITION SIZING,,, Your 25$ experiment deals with the fact that the ones that bet it all...Lost it all... While the ones that made several 10% bets at $2.50... Won! But to me , they all lost.... Cause they omitted the best case scenario. Play the full amount, but put in your STOP LOSS at 10%! That way you have the same 10% risk each time... But if you win , you'll almost have all of the full possible reward! YOUR NEXT VIDEO is ELOQUENT in that regard! In that video, Oliver Kell quotes another trader in saying... "PUT ALL OF YOUR EGGS IN ONE BASKET...AND THEN... WATCH THE BASKET VERY CAREFULLY!" 😁 If you bet only 10% of the sum, you'll also only have 10% of the reward! My 2 cents...And it seems...Kell's as well!!! 😉
I'm amazed by the insightfulness of this content. A book with similar substance offered a wealth of knowledge. "Mastering Money Mindfulness" by Benjamin Hawk
I've just discovered your channel and so far I really liked your videos but I think you should get rid of windows 98 style boomer cartoons. The subject you talk about is very intriguing while the cheap cartoons make it hard to take it seriously. I'd prefer you just talk on a blank screen rather than this. Well, that's just my opinion and I see you already made a channel consistent of those elements. I already subscribed and going to follow whatever you will share in the future. It was just a recommendation which I think is a fair one. Thank you for the content.
@@FinancialWisdom Don't change a thing. Good graphics that explains the key objectives is far better than all the slick graphics team work output in the world.
@@Vevay1961 Can't agree more. If you came to be entertained, or picky about high-res illustratons, rather than golden nuggets of so many great minds, then this is not for you. TH-cam channels and the internet should be used this way, not seeking attention nor just for eye-grabbing.
3:00 Work on yourself
4:30 Formulate a business plan
5:30 Develop a trading system
7:00 SMART system
9:00 Position sizing
Thanks Gareth. Reminds me a bit of Dr Elder. One of the key messages is that we all need to devise a personal system based on our own psychology and intellects. It's usually a mistake to try and copy other people blindly. Looking forward to the next video.
Great thanks William👍
Life is so precious, when you know you own a property or an investment to always keep you on go..I have no regrets starting my journey in cryptocurrency.
@Ethel S. Lucus .We work for years to have , $1million while some people I know put thousand of dollars in some meme coins and they are millionaires.
When it comes to the world of trade, most people don't know where to start. Fortunately great invest!ors of the past and present can provide us with guidance
I believe the benefits of a successful trade comes from a good mentor and guidance
@Sun Abelarda .Take my advice ( don't trade )buy or hold for years then get retired. You don't want all the stress and crazyness involved in trading. Don't believe the is formula
And don't just buy meme coins with huge amount
Thank you for all of this free content.
Thanks for watching 👍
TRADING IN THE MATRIX IS A GOOD ONE BY THARP AS WELL!!! THANK YOU FOR SHARING
Thanks Cody
Great content, you’re the best
I appreciate that!
SUPER NICE & VALUABLE INFORMATION PROVIDER ... RESPECT YOUR EFFORTS
Thanks a lot 🙏
Excelent Video. Thanks for your time.
My pleasure!
nice videos!!being a fan since the beginning here!! you have done a serious work, but lately i have been feeling you are more interested in selling your products and make me wonder if maybe that was your main goal!! Anyway, thank you for your videos because they are absolutely brilliants!!
Hi Julian, thanks for the feedback, fully appreciate what you are saying and this was/is really not my intention. I set out with one goal in mind and that was to project my passion to others, especially those who are falling for all the hype and fake gurus etc...during the process so many have asked for my approach and after almost 2 years I decided to provide it, of course the channel takes a huge amount of effort so asking for a relatively small contribution helps toward that. It’s not a course others ask 100’s or even 1000’s for but something that helps me improve the channel and free education further. Nonetheless I completely hear you and it was always a concern of mine, I’ll try not seem to pushy with it..., thanks for the support 👍
No reason to be bashful about promoting a great service. You are offering great value in the videos and life-changing information to members. You should be pushing as hard as you can!
@@robpalmer555 Thanks Rob👍
@@FinancialWisdom thank you very much for taking some of your time to reply and for making these amazing videos, i can truly see your passion and experience. My concerns are just related to some bad experiences i had in the past, but it is totally more about me and my doubts than about your work and your content, because i totally appreciate what you have done, thank you again for sharing all this with us!!!
@@julianzamoralarenas25 hi Julian thanks, really means a lot knowing people are finding value. yes lots of charlatans leaving a bad taste for many unfortunately. Thanks again👍
My Brokerage Account (Interactive Brokers) - bit.ly/3UGvn1U
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My Forum - www.financialwisdomTV.com/forum
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مرة احرى شكرا يارجل لقد استفدت من قناتك جدا
Great information 🇮🇳🇮🇳 Thanks from India
Thank you!
Thank you for your edu video.
I have read Dr. Tharp's book and agree with everything he says as it applies to 99.99% of potential traders. But being a systematic trader is like a poker player who knows all the odds of every card combination on the table: He will make money...but will never make monster money.
There is a personality factor in some traders...and some poker players...that consists of an X factor that allows them to read their opponents and go all-in at the perfect time.
As Jesse LIvermore said, "When I am right, I want to get all that is coming to me." In other words, under certain rare conditions, it makes sense to go all in.
And THAT is something that I feel cannot be taught.
Hi Fart - I agree wholeheartedly, although there are some objective confluences that can be targeted for that all in approach, but yes most do not have the attitude and patience to adopt such a strategy.
Let's not forget that Livermore got bankrupt multiple times, losing a shtload of money, more and more each time. At the end he took his own life because of losses. It is never worth to go all in, or if you do, at least hedge yourself to some extent with something (be it options, broad indexes, etc.). You can be lucky and even hype your own ego for a long time but you will be more reckless over time and in the end you will pay for that.
@@jj-big-slay-yo True, but Livermore tells us exactly what his negative tendencies are in Reminiscences. He says multiple times that if he had stuck to his methodology he wouldn't have lost money. But it is a flaw in humans that we tend to focus on one thing and lose sight of relatively obvious alternative outcomes.
What he didn't know was that, despite the incredible crash of '29, the market wouldn't bottom until mid-1932, I have no doubt that he assumed a rebound was on its way after '29 and started buying rather than blindly following his tape reading skills. This is what he did after making a fortune in the crash of 1907, and he made a second fortune on the way up.
If he had followed the tape, he would've easily become the richest man in the world by 1932..
But such is human nature. And the rest is a sad history.
Thanks a lot sir!
Most welcome!🙏
thanks
Thanks a lot, very nice.
Most welcome
very nice book review, thanks, love from India
Thanks for watching!
Sir, there is a video of "the super squad" in your "Trading Gurus playlist".
I will check it out. Thanks👍
The results of the test with 61 experts accumulate to 101% ;)
thenkss
🙏
Excellent thanks
Glad you liked it
Great insights.. Thank you
My pleasure!
What I understood from this video is that Dr. Van Thorp was never a trader, but a person who studied best traders on earth, 5000 of them. So, basically he statistically correlated some stuff. So, we need to believe that a man who never trade or could not make money in trade, can become a super trader coach? I somehow can not gulp down this logic!
This is why you are not a super trader.
Bro share some trend following strategies
There are some I think...👍
1st i want to thank you for all the excellent content. I have definitely learned a lot in the short time i've been watching your videos and very glad i found you. 2nd i'm considering joining your strategy group but i have a question. Are the trades in your group on the US stock exchanges or are they on the British (London) stock exchanges? Being from the US I just want to make sure they are on the US stock exchanges (where i am more comfortable).
Awesome, thank you! - 90% of the trades are US markets, 10% European
Another great video
Glad you enjoyed it
I tried to replicate your numbers but I am getting14.5 % as opposed to 16% . (My calculations are (0.25 [25% or 1 in 4] X0.58) = 14.5 %. What am I missing ?
Amazing sir great job Love from pakistan Lahore.
Thanks🙏
good stuff
Thanks🙏
Super trader tough read....lot of work
Yes it was
Finally something useful lol thanks man
Thank you!
Very very nice video sir 👌
I love your video
Please make more powerful tradeing book summary video
Thanks Lakhan
High quality technical analysis, risk management & trading psychology form the tripod of success.
great alpha
Sir! Hw r u?? Miss dis kind of videos. 😊👍👍👍 Pls make more.. Stay safe.
More to come!🙏
cool video
Do you know the optimal position sizing for the coin toss example? would be fun to know
looks to be approx 6%
Thanks!
First comment😎🤙
Well done 👍
POSITION SIZING,,,
Your 25$ experiment deals with the fact that
the ones that bet it all...Lost it all...
While the ones that made several 10% bets at $2.50... Won!
But to me , they all lost.... Cause they omitted the best case scenario.
Play the full amount, but put in your STOP LOSS at 10%!
That way you have the same 10% risk each time...
But if you win , you'll almost have all of the full possible reward!
YOUR NEXT VIDEO is ELOQUENT in that regard!
In that video, Oliver Kell quotes another trader in saying...
"PUT ALL OF YOUR EGGS IN ONE BASKET...AND THEN...
WATCH THE BASKET VERY CAREFULLY!" 😁
If you bet only 10% of the sum, you'll also only have 10% of the reward!
My 2 cents...And it seems...Kell's as well!!! 😉
Smart
DO EDWARD THORPS BOOK!!!
WRITE NORMAL!!!
first, he has not only written one book and second, the channel already has a video about a book of his.
@@suxxa *TYPE
He has two books on Van Tharp? Lol. Problematic.
@@czrog "He has two books on Van Tharp? Lol. Problematic."
?
"*TYPE"
Ok, thank you.
@@suxxa #WRECKED
58% and 4:1 🤣🤣🤣 bless your heart
I'm amazed by the insightfulness of this content. A book with similar substance offered a wealth of knowledge. "Mastering Money Mindfulness" by Benjamin Hawk
Russ rafino, the new tai lopez
I've just discovered your channel and so far I really liked your videos but I think you should get rid of windows 98 style boomer cartoons. The subject you talk about is very intriguing while the cheap cartoons make it hard to take it seriously. I'd prefer you just talk on a blank screen rather than this. Well, that's just my opinion and I see you already made a channel consistent of those elements. I already subscribed and going to follow whatever you will share in the future. It was just a recommendation which I think is a fair one. Thank you for the content.
Thanks Eray - I'm always open to constructive criticism👍
@@FinancialWisdom Don't change a thing. Good graphics that explains the key objectives is far better than all the slick graphics team work output in the world.
@@Vevay1961 Can't agree more. If you came to be entertained, or picky about high-res illustratons, rather than golden nuggets of so many great minds, then this is not for you.
TH-cam channels and the internet should be used this way, not seeking attention nor just for eye-grabbing.
Rip Van Tharp