Home
>
Stocks & Mutual Fund
>
What is Involved in Peak Performance Trading?

What is Involved in Peak Performance Trading?

There is so much involved in developing peak performance, that I recommend that all traders have a business plan. We recommend that the business plan cover all of the following areas.

? Your vision.

? Your purpose.

? Your objectives.

? A thorough self-assessment of your strengths and weakness, based upon real trading logs that you collect (if you haven't done so already).

? A thorough assessment of the big picture of the fundamentals.

? A complete understanding of your beliefs about the market.

? Procedures for getting empowering beliefs and mental states behind you.

? A documentation of your research procedure for developing new systems and determining how to analyze their effectiveness.

? Your procedures for developing and maintaining discipline.

? Your budget and cashflow systems.

? Other necessary systems such as marketing, back office record keeping, etc.

? Your worst case contingency plan.

? System 1 ? which is compatible with the big picture.

? System 2 ? which is also compatible with the big picture.

? System 3 ? which might come into play should the big picture change.

If you have all of those things, then you have a chance of doing well. But this means that your business plan becomes a tool for you to continually use to improve yourself and your trading. All of these topics were covered in some detail in our teleconference on business planning ? and you can now get that series on CDs ? including some sample plans that I critiqued during the last session.

You will notice that at the top of the list I include "vision." One of the keys to real success in trading is commitment. Before I coach a trader, I look for commitment. Those who are not committed to do what it takes, usually commit financial suicide when they try to be full time traders. Now, I have no idea how to give people commitment. It's more like something they are born with ? not something I can coach.

However, I do have some clues to how you can develop it in yourself. The key to doing so is to develop your vision and purpose. Your vision is your dream life. What do you really want to accomplish, be, and have in your life to know that you've done your best? What is your dream life? I'd write this out in detail.

And you also want the purpose behind the dream life. What are the "whys" in your life? This is what gives it the real motivation and commitment. Why do you want the things you want? Write down as many whys as possible. You'll know you have it correct when you are so excited about your dream life that you must do something right now.

So get started this week with just this one aspect of developing your business plan for trading or investing...start by writing out your vision.

In the unique arena of professional trading coaches and consultants, Van K. Tharp stands out as an international leader in the industry. Helping others become the best trader or investor that they can be has been Tharp's mission since 1982. Dr. Tharp offers very unique learning strategies, and his techniques for producing great traders are some of the most effective in the field. Over the years Dr. Tharp has helped people overcome problems in areas of system development and trading psychology, and success related issues such as self-sabotage.

Dr. Tharp is the author of three acclaimed books published by McGraw Hill; the New York Times Bestseller, Safe Strategies for Financial Freedom, Trade Your Way to Financial Freedom, and Financial Freedom Through Electronic Day Trading.

He is the founder and president of the Van Tharp Institute, dedicated to offering high quality education products and services for traders and investors around the globe. Learn more and register for his free weekly email newsletter at http://www.vantharp.com

Airbnb cleaning service Arlington Heights ..

In The News:

Red flags like processing fees, urgent countdowns and requests for full Social Security numbers expose fraudulent settlement sites targeting consumers.

Comprehensive analysis of Google Maps, Waze and Apple Maps examines usability, routing accuracy, data handling and features across the top navigation platforms.

Expert analysis reveals whether wired Ethernet or wireless Wi-Fi connections are safer for home internet use, plus practical steps to secure your network from attackers.

Australian construction robot Charlotte uses sand, crushed brick and recycled glass to 3D print fireproof, floodproof homes with reduced carbon footprint.

Cybercriminals are using fake invitation emails to trick recipients into downloading malware and stealing personal information and data.

Flying drones could help retailers fight a 93% increase in theft rates as Flock Safety promotes airborne security systems to track suspects and deter crime.

The Fox News Artificial Intelligence Newsletter brings you the latest news on the emerging technology every Saturday, highlighting top stories.

Hacker group Radiant stole data from 8,000 children at Kido nursery chain, demanding ransom and directly contacting parents with intimidation tactics.

As 18 states implement bell-to-bell cell phone bans, creative students use Google Docs, iMessage on MacBooks and Post-It notes to stay connected in class.

A sheriff's captain says deputies often spend hours writing reports between calls, but Axon's AI program, Draft One, helps them save crucial time in the field.

Sora 2, OpenAI's new video-generation app, can create AI-generated videos based on a singular prompt. The results are both mind-blowing and terrifying.

iPhone and Android users can reduce Wi-Fi calling battery drainage through settings adjustments, background app limits and stronger Wi-Fi connections.

Work email scams are becoming harder to detect as criminals use AI and spoofed addresses to trick employees into opening malicious attachments and links.

From her Arizona living room, Christina Chapman ran a covert hub that helped North Korean operatives infiltrate U.S. firms, netting $17 million in stolen salaries.

UC Santa Barbara researchers developed a soft robotic intubation system that achieved 100% success rates for experts and 96% for paramedics with minimal training.

Scammers exploit probate filings to target grieving families with fake fees and debts, Kurt "Cyberguy" Knutsson reports.

Automotive giant Stellantis becomes latest victim of widespread Salesforce breaches affecting companies like Google, Cisco and Adidas this year.

A woman from Washington reunited with her missing Maine Coon cat Louie after 11 days using Love Lost, a free AI-powered pet recovery platform.

Expert cybersecurity tips help Mac owners remove malware infections and strengthen defenses with antivirus software, password managers and system updates.

Meta's AI chatbot training rules bans sexual roleplay with minors and block access to child abuse material as regulators scrutinize its safety measures.

Online banking users face a new threat: web injection scams that overlay fake pop-ups to steal logins. Here’s how to spot them and protect your accounts.

Meta introduced Teen Accounts to Facebook and Messenger while launching a School Partnership Program for U.S. educators to report bullying within 48 hours.

Executive order signed by President Donald Trump tasks Robert F. Kennedy Jr.'s MAHA Commission with using AI to find new cures for childhood cancers.

New FileFix attack tricks Facebook and Instagram users into running malicious PowerShell commands disguised as Meta account maintenance to deploy StealC infostealer.

Step-by-step instructions help users migrate to Windows 11 while preserving emails, contacts, documents, and software licenses during the transition.

What is Involved in Peak Performance Trading?

Stocks & Mutual Fund