Average rating 4.06  · 

 ·  1,273 ratings  ·  48 reviews



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A lot of stuff but not enough of it is how I would describe this book. Have you ever read something and was interested in the topic but felt like you werent given the satisfaction? Perhaps, Ive had a fair grasp of the underlying teachings of the book to fully appreciate it.

It does cover a decent range of trading methods, ideas, and references for an audience whove just picked up an interest in stock market investing. If youve read a few already, beware that the beginning chapters of thi



This is the book to read if you need to be convinced that trading is every bit as much about exiting trades as it is entering trades. Simply put, you cant make money trading if you dont control how much you lose on trades that dont go your way.

Van Tharp does a more than adequate job explaining expectancy and drawdowns in a way that makes you realize that bad things can happen to you if you ignore this facet of trading.

There are other reasons to read this book but those were the big ones to m



When I started reading this book I felt like I wasnt getting anything from it, like it was repeating himself over and over again. However by the ending of the book (the last 150 pages or so) it turned out to be a great book. It doesnt have many ideas but the ideas and points it makes are very powerful.

I learned from this book how important are exits on a trading system (something I wasnt even considering when I was trading).

Position sizing is another great point he speaks about throughout the



There are a number of good ideas in this book (most notably that a trader should have a complete system instead of only focusing on entry) but many chapters lack in depth. Tests are often executed somewhat haphazardly without regard how parameters may influence outcomes. All in all a long read for the amount of ‘new’ information


One of the best books out there for for serious traders. This book talks about some of the most important aspects that most other trading books dont talk about, yet is crusial to successful trading. Wish I had read this book years ago, my success would be very different. ...more


Unfortunately some of the stuff in the book feels outdated (or discredited, like the Motley Foolish Four). ...more


Psychology chapter is excellent. The others, not so much.


It was a book where you will be introduced to the really important parts of trading but I guess what discouraged me and made me lazy in finishing this book was maybe that some concepts overwhelm me. The thought that I will be going to another topic from a topic that has so much importance maybe really discourages me. I must say that the examples, simulations and things that help the reader understand the concept are what really made this book amazing. He was right to end the book by saying that ...more


The things I liked in this book were (1) the idea of looking at your trading strategy as a function of the risk and the opportunity to trade, and (2) the snow fight metaphor for easy understanding of the key concepts in trading, such as win rate, position sizing, etc.

However, I had problems with pretty much everything else in the book, e.g.:
- there was not a single one commentary on the trading style of the author which leads me to believe that this is yet another case of an author of a trading



Setting aside the click bait title, this book provides an amazing overview to mechanical trading systems. It gives a very good concise description of different systems such as trend following, value trading, swing trading, spreading, arbitrage and others. It provides the essential factors in which to think about a trading system (reliability, reward-to-risk ratio, opportunities, position sizing) and lay out the steps to develop your own system that fit your beliefs about the market. Highly recom ...more


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Good but missed my system

Very good and very comprehensive. I wanted more on position sizing.My system is in the market all the time is fully automatic and includes a position sizing algorithm.Ok trade only 1 instrument (euro/dollar).100% in the market systems are only given brief mention but entry and exit pre-determined.


This is a book that I will need to read several times before I even start capturing the concepts within. It was not an easy read and sections I needed to simply skip. Its certainly a book that makes you think in ways I never contemplated. ...more


Its a fine book with plenty of good advice. However, its really too long for the amount of info it contains. Maybe Im too used to reading textbooks, but I just want the advice without necessarily being harped to about why the advice is so good. Just make your point and move on. ...more


Lots of material, covering very important parameters such as risk and position sizing, not covered in other books. Also focussed on exit and individual psychology. Excellent bibliography and ideas. Highly recommend this book as a starting point for investing.


A very comprehensive guide to avoiding losing all your money in the financial markets. Tharp states that very few entry strategies are better than random in the long term. Its knowing when to get out and how much to put in that will, over time, bring the returns. ...more


Excellent read

This book is a real gem out of many. Author has insisted clearly on position sizing which I think will change my trading behaviour forever in positive direction. Anyone who wants to be successful in trading in long term should read this.


So far the best book about trading Ive ever read. I read many books on the topic but I never encountered anything that comprehensive about what really matters in this business. Id recommend it to anyone considering to delve into financial markets or to deal with the risks associated with them. ...more


Covers wide variety of topics. Will offer quite a good start to people new to space of trading and investing. It discusses many systems including both technical and fundamental. Recommend its reading.


Only a few good concepts. Not worth the money and time. The author has confirmation bias. Majority of the time he criticizes a lot of people rather than keeping the book about explaining his concepts. This book is like a sales pitch to get more clients.


Must read for all traders!!


I love the emphasis on position sizing!



The psychology aspects of trading are interesting. However the writing isnt very clear. Stopped reading after the psychology chapter. ...more


One of the best books on trading I have ever read.


I can say that it gives all the elements of trading in a book.


Solid book, but it was a lot of repeat material for me.


It is wonderful book. I believe that every trader should read this book to evaluate himself. Also it gives you another view to stock market. It is a must read.


I recommend this book to beginner whod lost money for having no IDEA entering the market (just like me). It breaks down what trading system is and how to develop your own one by choosing some example this book offers.

You still have to do your own research once you decided what IDEA fits you the most to develop your own trading strategies.



As its lame title hints, the writing style in this book is blunt, rather awkward, and not much fun at all.

But the ideas here, while deceptively simple, are, from my experience anyway, deep and valid. In a nutshell, you need a plan to make money, youve got to test that plan to see if if makes sense, youve got to have the guts to stick with the plan once you begin yet know when to adjust your ideas when you are wrong, and your level of risk must be dictated in large part by the size of your wal


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