Tharp0071632514Lately I’ve been taking some of my free time in the evening to catch up on some reading. After finishing The Secret Language of Money, the next book on the list is called Super Trader – Make Consistent Profits in Good and Bad Markets written by Van K. Tharp.

Trading has been a hobby of mine for the past few years and I must admit that the ability to consistently trade profitably is a challenge.  This book is written by a well known trader who goes over some of the psychological barriers of trading which he believes is perhaps the largest obstacle that traders, or aspiring traders, face.

About the Author:

According to the book:

Van K Tharp, Ph. D., is an internationally recognized consultant and coach to traders and investors, as well as the founder and president of the Van Tharp Institute. He is the author of multiple bestselling books on trading and investing, including Trade Your Way to Financial Freedom, Safe Strategies for Financial Freedom, Financial Freedom Through Electronic Day Trading, The Definitive Guide to Position Sizing and The Peak Performance Course for Traders and Investors.  Tharp is a popular speaker who develops and presents workshops for trading firms and individuals around the world. He has published numerous articles and has been featured in publications such as Forbes, Barron’s, Market Week, and Investor’s Business Daily.

About the Book

As I mentioned above, this book really focuses on the psychological side of trading instead of technical.  It talks about creating a system for yourself starting with eliminating limiting beliefs, developing a business plan/trading system and position sizing.

This book is not for you if you are looking to learn about charts and technical indicators.

Here is what Super Trader consists of:

Part 1: Working on Yourself:  The Critical Component That Makes It All Work

Part 2: Developing a Business Plan:  Your Working Guide to Success in the Markets

Part 3: Develop a Trading System That Fits Each Market Type You Plan To Trade

Part 4: Understanding the Importance of Position Sizing

Part 5: More Ideas for Producing Optimal Trading Performance

Final Thoughts

This book is for someone who is serious about taking their trading to the next level.  Tharp believes that a successful trader isn’t one who knows all the technicals of trading but someone who has mastered the psychology of trading and using a sound business plan.

Want a Free Copy?

McGraw-Hill was generous in offering Million Dollar Journey readers the chance to win 3 copies of the book.  The details are below:

  1. Sign up for the new MDJ Money Tips Newsletter for an entry.

Sign up for the Million Dollar Journey Money Tips Newsletter absolutely
free. We respect your privacy – your information will never be given or
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  • Follow me on twitter to receive an additional entry.
    • Only those with a North American mailing address may enter (publisher rules, sorry).
    • Contest will end Sat 5pm EST Oct 31, 2009 and the winner announced shortly after!
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    I won’t be a “Super Trader” but not bad to have such a book to see what they do. Thanks.

    I feel like a fish out of water… what’s a book giveaway WITHOUT the option to get an entry via commenting on the thread?

    Is there anywhere to preview a copy of the MDJ Money Tips Newsletter?


    just read “Rule the Freakin Markets” and am inspired to really begin trading. Finding the time will be the challenge.

    I thought blogs replaced newsletters? ;)

    Thanks for the offer !!


    I’ve read lots of trading books including previous books by the same author. I’ve also personally tested most published trading systems that are testable. The problem is that all technical systems are fitted to past data and don’t work with future data.
    Trader psychology, position sizing etc. can help only to slow-down the loss of money (on average).
    The fact that some traders do make money is due to pure luck. The well-known truth is that most active traders lose money. It’s just statistics and probabilities.
    Trading IS gambling.

    Interesting stuff.
    I’ll add this to my reading list. Sometimes we get to caught up in the technical components of certain tasks (ie. investing, working out) that we miss the natural intuition that we as humans possess.


    I believe the psychological aspect plays a huge role in whether the price will go up or down. If we look at everytime an economist or politician opens their mouths, the markets will move irregardless if the security is doing well or not.

    Keep up the good work with your website!

    Awesome. I’m putting this on my Christmas list :)

    Thank you.

    A book would be nice

    Thank you!

    I am interested in reading this book.

    Lets see if I am lucky this time.