Transformation of the Trading Game

More junk from Tharp’s Trading beyond the Matrix begins as follows – with new rules, that are really just restatements of stuff Tharpy has said before… only now it’s called transformation of the trading game.

1)  trading is as much a profession as any other.

2)  trading reflects human performance just
as much as any top athletic endeavor. You are responsible for the results you get.

3)  objectives are important. Achieve your objectives through how much to bet strategies.

4)  trading/investing is all about probability
and reward-to-risk ratios under specific market conditions. Use statistics
to predict what your performance will be under similar market conditions.

So call it Tharp Think or Tharp Junk, but another book is here…

Although it feels like we’ve covered this ground before… (taking a point on #2)

Certain accomplishments are inherently beyond our abilities. Average Joe can’t be a professional sports star just because he wants to and puts in the effort. Anybody can place a trade, but not everyone can make their living from it. In trading, emotions, instincts and conditioned behavior act against the best financial interest of the trader.

One could argue that financial market profitability is not about transforming into a better trader, but a better listener…

Successful trading, at times, can be summed up by the result of you following the market’s orders.

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