Insights from the book i am reading :
Trading Success is a Process, Not an Event:
In SuperTrader, Van Tharp emphasizes that trading is not about chasing quick profits or trying to predict every market move. Successful traders focus on mastering the *process* of trading, which includes developing a solid trading system, managing risk effectively, and cultivating a strong trading mindset.
One key concept is "position sizing" a strategy that helps traders manage their risk and keep losses small, allowing them to stay in the game for the long term. Tharp explains that controlling the size of your positions based on your risk tolerance is critical for surviving both good and bad market conditions.
Idea of psychological capital is also central to the book. This refers to the traderâs mental and emotional resilience. Tharp highlights that the ability to remain calm and disciplined, even during losing streaks, is what separates successful traders from those who fail.
Key Lesson: Trading is a journey of continuous improvement.
Focus on refining your system, managing your risk, and strengthening your mindset to stay profitable through all market conditions.
