024: Dr Van Tharp discusses beliefs in trading, why traders fail and market types [AUDIO ONLY]

In this episode Dr Van Tharp talks about beliefs and their impact on trading, the qualities of successful traders, adapting trading to market types, position sizing, trading mistakes and overcoming fear, perfectionism and impatience.
Topics discussed
- How Van got started in the markets and the issues he faced initially
- The main reasons the majority of trades are unsuccessful
- How traders can identify the type of strategies that suits them
- What it means to trade your beliefs in the market
- How to assess whether your beliefs are useful or limiting
- The real importance of psychology in trading
- Your collection of parts and how they interact
- The process of transformation in a trader
- Qualities of losing traders and how to test yourself for them
- The impact mistakes could be having on your results without even knowing
- How to cope with larger trade sizes as your account grows
PLUS listener questions on:
- Using position sizing to meet your objectives
- The 6 market types, how to measure them and how to apply it to your trading
- How to find positive expectancy systems
- Developing patience when in a trade
- Trading in short timeframes
- How to address issues with perfectionism
- Systematic vs Discretionary trading
- Overcoming fear of pulling the trigger
- Handling drawdowns
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Disclaimer:
Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.

[@w3aSWglu]

"Welcome to betterrr system traderrrrrr" always cracks me up. Love this show.

[@BetterSystemTraderPodcast]

haha, thanks @Luis!

[@fugly75]

Another good interview .... thanks Andrew !

[@jakubvalenta5403]

Great interview 👍

[@Batlordi]

Really cool what van Tharp says at around 20:30. Coincidentally I've been doing that the past few weeks and found I did a lot of stuff wrong. Looking at it this way helps me sit on my hands and let my trades work without screwing them up. Been slowly going through your uploads, definitely some good stuff here, thanks :)

[@BetterSystemTraderPodcast]

thanks @janus - glad you're finding it useful

[@nikku4791]

Thank you so much for this amazing upload. 🙏 🥰🥰🥰 ❤️

[@BetterSystemTraderPodcast]

Thanks for listening Nikku

[@rohanjain2738]

Best content out there. Please never stop

[@BetterSystemTraderPodcast]

thank Rohan, glad you like it, please spread the word! :-)

[@laishramsingh5002]

It is an eye opener for the beginners. Thank you very much .Looking for more videos.

[@BetterSystemTraderPodcast]

There's plenty more here, and more to come!

[@selvaraj4661]

Like👍

[@BetterSystemTraderPodcast]

Super!

[@roman.mueller]

A system for every market type in theory sounds like a perfect plan but how do you want to know what type of market you are in at time you have to place your trades? I mean you don’t trade the past but obviously market type is something you only find out after the fact. How is that going to help in the present moment?

[@BetterSystemTraderPodcast]

Hi Roman, from memory (I may be incorrect), I think Van used SQN to measure 6 different types of market regimes. Common classifications are trending (bull/bear/sideways) and volatility (high/low). Thanks for the comment!

[@bruceb85]

Did he just say we are in the matrix?

[@datacourier2944]

Fantastic Van, interview could follow-up with better questions and dive into topics rather than sticking to the script like a robot in this one.