Dr. Van Tharp: Transforming Traders Through Their Beliefs | Interview

Dr. Van Tharp: Transforming Traders Through Their Trading Beliefs | Trader InterviewShow notes: episode 57 of the Desire To Trade Podcast, I interview Dr. Van Tharp, a very well-known leader in the trading industry.From the start, Dr. Van Tharp has, very similar to me, a desire to have an impact. That is something I admire a lot.During the interview, Dr. Van Tharp asked me about my own beliefs and we went through the “belief examiner” process, which has been very interesting for me. This has been a key element for traders’ transformations.Trading mistakes are an important part of this interview. Dr. Tharp says traders should aim for 100 trades with a 95% compliance to their rules.You never trade the market. You trade your beliefs. - @vantharp CLICK TO TWEET Topics Covered – Van TharpHow Van Tharp has transformed tradersWhat is a successful traderHow beliefs influence all tradersYou always trade your beliefs. The market is only a representation that we interpret based on what we think.No belief is 100% useful, they are only useful in a context.Keys to reach a higher level in tradingThe “belief examiner” processPosition sizing strategiesYou should write down your rules and track when you don’t respect themLooking at what your mistakes cost you.And much more!Join the Facebook group: you've enjoyed, please like this video and subscribe!In Forex trading, starting to trade can be a cause of stress if you start to modify your trading strategy. Instead, you should aim to trade like you backtest. If you've done the work, there should be no reason to fail once you get to trade live.Join the Facebook group: you aspire to trade for a living, one day you’ll find yourself having multiple trading strategies or trading styles.The fact is that no single trading strategy can be used at all time. In fact, it is frequent for professional Forex traders to switch between strategies or to replace the ones underperforming.Personally, I’ve been starting in Forex as a swing trader. After I got consistent with it (which wasn’t an easy job, let me remind you), I started to dive into day trading (both the New York and Tokyo sessions). That brought me to use more than one way to trade.The thing I want to point out, however, is that having a Forex trading strategy playbook doesn’t mean you should accumulate as many trading strategies as possible in the hope to make more money. In reality, trading too many things usually has for effect to reduce your overall return.In addition, do not be surprised if you do not make money from the start with a strategy you just started to trade live. There is a period of adaptation.However, as you start to expand your trading strategies, staying organized becomes crucial. You absolutely need to keep things in order. Your playbook should be focused on clarity and must be visible.Join the Facebook group for more free resources: you truly want to succeed in Forex trading, you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you're good at.Get the Forex Day Trading Success Cheat Sheet for FREE!out the Desire To Trade Podcast - Trading Tips & Interviews with Successful Traders: a lot of article and tips that will help you become the best trader you can be: $20 FREE for your first stay with Airbnb:

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