Very informative video summary on Van Tharp Trade Your Way to Financial Freedom.by Financial Wisdom
Dr Van Tharp (Featured in market wizards) looks at stock trading from a probabilistic perspective, discussing the expectancy value measured in multiples of R and highlighting the importance of position sizing. Dr Tharp says most traders are looking for the holy grail of stock trading within a particular setup, when in reality the way to trade your way to financial freedom is to look within yourself. Managing your risk through position sizing, using the risk reward ratio and controlling your inner self (trading psychology) are keys to your stock trading success. The expectancy value should also be aligned to opportunity, expectancy without opportunity could lead to minimal profits.