Van Tharp "Intraday trading. Secrets of mastery." Intraday trading. Secrets of Mastery - Vann K. Tharp and Brian June, download book in pdf format Intraday trading. Let's start with the main thing

About this book Van Tharp, Brian June "Intraday Trading: Secrets of Mastery" I will express my personal opinion as a Forex trader to give readers a methodology for evaluating books that are completely different from all those discussed in my book above.

• First a note. No matter how much I criticize in my book “Secrets of Mastery...” the above-mentioned authors are classics of Forex and the stock market, from each of whom you can and should take a lot of interesting things to improve your individual methodology for working on Forex. And my criticism of SOME of their methods does NOT negate the methodology of the correct approaches of Williams, Naiman, DeMark, etc. The market is simply changing, and what was true 10-15 years ago cannot bring profit to traders today. Therefore, criticism of their individual methods was needed as a starting point:

1. To clarify the problem, how, when and why a trader can lose using the method.
2. As a way to solve this problem - a specific proposal of my own method, which will either improve the classic technique (as in the example with Williams' Alligator, when I proposed adding another 233 heavy moving average to Williams's 5, 8, 13 bullets, or adding 11 to Williams' 5 bullets , which kill the trend completely, etc.), or offer something else instead of what the classics offered (instead of Stop-loss - pending orders "sell stop" and "buy stop", again, NOT canceling the correctness of Williams' thesis about the need trader to have a “safety cushion” when working on Forex).

With the book Van Tharp, Brian June “Intraday Trading: Secrets of Mastery” the situation is fundamentally different. These two authors wrote a pseudoscientific work that contradicts the canons and principles of working in Forex and stock market Moreover, these two “recognized experts in the field of trading” themselves DO NOT know the basic fundamentals that are given in the first lectures of the basic training course for beginners.

I give account of what I wrote.

Therefore, everything is in order.

ACQUAINTANCE with the book Van Tharp, Brian June "Intraday Trading: Secrets of Mastery" I started with my respected website "White Collar". I will quote: “The long-awaited publication of the bestseller by Van Tharp and Brian June “Intraday Trading: Secrets of Mastery” has been resumed. A compromise was reached with the owner of the rights to the book, the Alpina Publisher publishing house: selected chapters appeared on the website for free access.”

Isn’t it an intriguing start (two serious companies held lengthy negotiations about the “bestseller” of Van Tharp and Brian June in order to “reach a compromise” on what CAN be published from this “bestseller” so as not to violate the rights of the other party, which BOUGHT OUT from the authors rights to publish their book in Russian). Such an announcement SUBCONSCIOUSLY forces you to open and read this so-called “bestseller”.

Let's start our acquaintance with the first pages of the book, on which they very beautifully and competently convince us that “The book was written by recognized experts in the field of trading (is this a hint that they are NOT traders? Below I will try to provide evidence), Van Tharp and Brian June, covers all aspects of day trading using direct market access."

The very next phrase alarmed me: “In addition to describing the practical techniques of intraday trading, the authors paid considerable attention to the psychological aspects of working in financial markets. According to the authors, in both long-term and short-term trading, success depends on the intellectual and psychological mood of the trader, as well as the ability to approach trading as a business."

So this means the book is NOT about the secrets of mastery from the point of view of new techniques?

Then why didn’t you add a word to the title that explains the essence and main method of your book (psychology), because the title “Intraday Trading: PSYCHOLOGICAL Secrets of Mastery” would be more accurate? Or not, dear psychiatrists - businessmen - traders Van Tharp, Brian June, and at the same time specialists - marketers in selling the “bestseller”? Forgot to insert a word to make a wider audience of buyers of your book, or am I wrong?

So what do you mean you Van Tharp, Brian June will teach a trader business? Specifically for what: marketing, management, taxation, sales strategy, accounting? And what does Forex trading have to do with it?

By the way, Van Tharp and Brian June are going to teach traders how to work in the stock market or Forex? Or is there no difference for them, as in the case between a trader and an accountant? Or did you Van Tharp, Brian June specifically move the specifics of your methods of working on the stock exchange to the very end, because your book is NOT about Forex, but about trading on the NASDAQ market?

And the exact title of what you Van Tharp, Brian June wrote in your book should at best be something like "Day Trading: PSYCHOLOGICAL SECRETS OF MASTERY IN THE NASDAQ MARKET"? I can imagine how much your readership would decrease if you indicated such a more accurate and correct title for your “bestseller”.

Now let’s look at how these “recognized experts in the field of trading” covered EVEN these issues (you must agree, the problems raised in this “bestseller” are generally secondary in relation to the methods of error-free opening and closing transactions for Forex traders).

So, the STRUCTURE of the book, through the eyes of the famous Forex analyst Moisha:

“So, the first part of the book is devoted to the psychology of trading. Does this disappoint you? But in vain. I have long been convinced that psychology plays the most important role in a trader’s success - perhaps even more important than technical analysis and position sizing management. This is not It is obvious that there is no decent trading algorithm in hand yet, but once such an algorithm is developed, it often becomes clear that its implementation is perhaps even more difficult than its development."

• Let's compare the structure of this book with another - as another professional psychiatrist B. Williams wrote his bestseller "Trading Chaos".

1. First, theoretical questions (A LOOK AT THE CURRENT REALITY OF TRADE, and as a conclusion of his analysis - MARKET NAVIGATOR: THE NEED FOR GOOD MAPS).
2. Then a presentation of HIS own methodology of work using various combinations of various fractals, Elliott waves, etc.
3. And only at the end of the book, B. Williams, as also a professional psychiatrist, writes about the psychology of a trader, in application to the specific new techniques that he outlined.

Do you notice the difference with Tharp and June's book "Intraday Trading: Secrets of the Master"?

B. Williams first deduces the necessity of what he is going to present, then gives the trader new techniques, and only then touches on the issues of the trader’s psychological attitude when working with his new techniques.

And here? We'll talk about psychology, and at the end - about our methods of working on Forex. Why, in your book “Intraday Trading: Secrets of Mastery,” should you present your so-called “secrets” to the trader in such a way, upside down? Instead of a psychological mood for something specific (which should be stated at the beginning), there is a mood for UNKNOWN what, and the work methods are bashfully transferred to the very end.

“The second part was written personally by Van Tharp, and its core is a brief 30-page summary of what he made his name on - methods of capital management and risk calculation. Everything is very balanced, reasonable and understandable. And, it seems, for the first time in Russian.

The third part of the book is devoted specifically to intraday trading in the American stock market. This is already a good practical guide. It begins with an analysis of the NASDAQ Level II information windows and a detailed story about what and why you need to look out for in this flow of information. It continues with a detailed analysis of intraday trading strategies, many of which are quite possible to use now. And ends with an analysis of typical trading mistakes."

• Comments: means book:

1. Not about Forex, but about trading on the NASDAQ market, which, of course, has a lot in common with Forex, but there are also quite a few differences.
2. The core of Tharp and June's book "Intraday Trading: Secrets of the Mastery" is, according to Moishe, NOT a description of new techniques discovered by THEM, but ONLY "a brief 30-page summary of what he made his name on - methods of money management and risk calculation."

Well done Moisha. How can one not recall the book of the Soviet commander G. Zhukov, who, for the publication of his memoirs “Memories and Reflections,” was strongly recommended by the CPSU Central Committee to mention in it the name of Brezhnev, with whom Zhukov never met during the war.

Zhukov wrote into the text how, when he was already a MARSHAL, Stalin’s deputy at the Headquarters of the Supreme Commander-in-Chief, he came to the Caucasus and stopped by COLONEL Brezhnev to “CONSULT”. And when he wrote this phrase, he allegedly said out loud: “Okay, smart people will understand” (“Arguments and Facts.” 1995. No. 18-19).

Anyone who lived in the USSR during Soviet times will understand Zhukov, who was in disgrace, but Moisha? Why did he need to write about Van Tharp’s work in the preface, Brian Juna: “The book left a pleasant impression, and each of its parts can be used both for practical work and as a starting point for studying topics.”

• What, also according to the principle “the smart will understand”? And what to study from THIS starting point? Business? Accounting? Forex, about which there is no word? Or is the CORE of this book "Intraday Trading: Secrets of Mastery" - "money management methods"? I’m not saying that “money management methods” are completely unnecessary, as well as methods of psychological training for a trader, but:

1. Are these problems primary for a Forex trader?
2. Why couldn't the title of the book clearly indicate the subject of what Van Tharp and Brian June would tell traders about?
3. Why be original about your method of "business of trading" without specifying which PART of the business should go into which PART of trading?

Part 1. How to get “precise guidance” for trading success.

What a name! We read:

Real traders know that profitable trading is not a gift from heaven, but the result of long and painstaking work. Unfortunately, for most people, trading success is like winning a super game: getting rich quick with minimal effort. The myth about the wonders of the stock exchange and casino is still alive - this is where, according to many, easy money is made. The dream of super-profits attracts many to the world of trading. And advertising presents trading as a surefire way to instantly get rich. Of course, all this is an illusion. And they quickly dissipate as soon as people start trading: instead of income, they are expected to lose, and quite impressive ones at that. The market is not a casino, and trading is not a game, but a job that, above all, requires professionalism.

Etc. and so on. truisms. Only in the middle of the section do we learn that the authors needed this long introduction only in order to make an absolutely ABSURD conclusion for a trader that “the main thing you need to know is: success in the market depends entirely on you and almost does not depend(! ?) from a "good" broker, "good" software or "good" stocks."

Tell me, is a real trader capable of writing such nonsense? What to work for " good broker"or a fraudster - it does not matter for a trader, just like that - there is a "good software"for technical analysis, or there is no analysis at all - what difference does it make to a trader whether you trade good shares or those that no one will ever buy from you due to the bankruptcy of the enterprise?

Have you ever seen a trader who could say such nonsense? Me not.

Chapter 1. The path to trading mastery.

Two Comments as an introduction:

• Have you noticed how a trader tells another trader about HIS recent trades? The story ALWAYS comes from the first person. For example, I saw a break through the resistance level and... Who else should a trader tell about, except about himself, about his actions and feelings?... Now guess who our two “recognized experts” are writing about: Van Tharp, Brian June in this chapter of his pseudoscientific “bestseller”? About some Steve (a former dentist, and now a successful trader).
• Steve chose Intel shares for trading on Monday morning, which was trending upward and excellent news came out early in the morning (Intel is investing $6 billion in its production). How do I work in such a situation (in Forex, not in the stock market). I look for the smallest point below and bet on growth until the downward fractal at the next correction of the upward movement is lower than the previous fractal.

Let's read about Steve's "secret technique". I quote:

Steve sat comfortably in his chair and turned on the computer. The trading day was about to begin and the market was preparing to open: there was intense pre-session trading. The morning news was encouraging: Intel announced its intention to invest another $6 billion in production(?!)

Comments: what difference does it make to a trader whether there is negative or positive news? These feelings - rejoicing at positive news and being upset at bad news - are NOT typical of any trader. Considering that one of the authors is a professional psychiatrist, this means one thing - Van Tharp and Brian June did NOT even work on a demo account before writing the book, if positive news makes them happy).

A few days earlier, Intel reached a yearly high with shares trading just above $145. This morning's news is sure to roil the market and send Intel surging higher.

What do you think Steve will do? will he buy when it falls in order to sell at the peak when the shares naturally rise? No matter how it is:

"Steve has been closely tracking Intel all morning in the time and sell window. Quotes have been moving: they rose to $144 1/2, then dropped to $137. Now the rate is $140 at $140 1/2. Steve prepared to short (sell?!) 1000 shares "Intel. In the order window, I entered the number 1000, set Short and activated the ready mode. As soon as one of the traders placed an order to buy 1000 shares at $140, Steve immediately pressed the Sell button."

Comments. Can you understand something? Me not. If Steve’s method is to work on a correction (pullback on a trend), then pay attention to the point at which Steve began to play bearish. The stock "went up to $144 1/2 and then went down to $137."

Do you think Steve bet down from the fractal up at $144 1/2? No matter how it is! Quote: And " at $140, Steve immediately pressed the sell button. “Trading at Island is always characterized by liquidity,” Steve noted and internally prepared for a successful day. He enjoys watching the CNN News, which once again announces Intel's plans. The day's work has begun, and there is still time to relax with a cup of coffee".

And what kind of correction can there be if trading has just begun and the intraday trend is still ahead?

Another hint to psychiatrist Van Tharp: when a trader missed an entire half of the price movement in the market and finally opened a trade, he thinks about how many points of profit he missed, and not about what is “liquid” in the market and what is not.

• Where did Steve put Stop-loss? Thinking ABOVE the $144 1/2 resistance at the top? No matter how it is. " Steve, as usual, put a wider “stop” at $142, and therefore is not too worried”(?!) and “drinks a new cup of coffee.” But Steve is lucky and “Intel is trading around $139. Steve is in no hurry(?!, working against the trend) : He takes a longer term view and Steve waits patiently and calmly sips his coffee".

I wonder WHAT “long-term perspective” Steve might see in a sell trade on an uptrend when positive news comes out? Downward trend reversal? But Steve doesn’t say a word about him! And instead:

“And his patience is rewarded! Serious selling began, and the market makers lower the price to 136. His expectations were more than justified. He enters a buy order into the system at $135 7/8 This is not “scalping”: he is not greedy and decides to hit right away on an offer for his item. Steve submits the order, and 10 seconds later his purchase is executed. He closed with $4 1/8, in other words, he made $4125 in a little over an hour. As it turned out, $135 3/8 was the "bottom" morning trading on Intel".

• The authors do not write a word about Steve’s luck factor (on the contrary, they emphasize the correctness of Steve’s calculations to work against the trend), they admire his wisdom and endurance. Still would, " he earned $4,125 in just over an hour. It seems that today there is no need to trade anymore, but Steve decided to take advantage of the favorable opportunities that such a volatile day provides and is going to continue trading".
• How do you like this passage: " Then it turned out that $135 3/8 was the “bottom” of the morning trading for Intel. Steve wasn't upset. His job is not to pick tops and bottoms, his job is to open positions with low risk and close them with profit".

This is Steve with his adventurous work in the market against the trend and the wrong stop loss - “low risk positions” (?!)

• Do you know what 2 timelines were in front of Steve? The authors transferred them to the book: 1 minute and daily. I don’t know how other traders will evaluate this, but I simply don’t know a worse combination. Why keep a daily chart on the screen at all? He hardly changes in a day?... Do Van Tharp and Brian June really not even know about this?
• Are you wondering what indicators are on Steve's charts? And not any! And he did not mention a word about any method of technical analysis, which, it seems to me, he - like the authors - of the book simply does not know.
• Pay attention to the trader’s logic when opening orders on the market: attention is focused on technical indicators that the trader is accustomed to trust: MACD divergence, some oscillator, moving average crossover, fractals, zigzags, etc., but Steve never talks about this remembered (or does he just not know them?), but how much space in the book is devoted to “cups of coffee”, “a comfortable chair” and other nonsense that a trader does not think about during trading.

Let's continue about trading with Steve's participation.

A very revealing passage from Van Tharp and Brian June:

It seems that today there is no need to trade anymore, but Steve decided to take advantage of the favorable opportunities that such a volatile day provides and plans to continue trading.

• What does it mean to “not trade”(?!), if right now a surge upwards should begin (an upward trend, the news is positive, a rollback has occurred, the “bottom” has formed above the previous “bottom”, the whole trading day is ahead). Do the authors of the book really not even know such basic truths?

Steve's blood boiled. He is a winner and does not want to leave the market just yet, although he knows that he has very little time.(10 a.m.! The whole trading day is ahead!)

Steve gets ready and hits. He places a buy order and it is executed at $136 on 7/16. As always, Steve prepares a window with a protective stop in case the market goes against him. He chose a 1/2 pip stop based on his experience and knowledge of the games traders play.

Previous "Bottom" at $135 3/8, why then is his "stop loss" higher again(?!)

Momentum traders "climb" on top of each other. Intel's annual maximum is not much higher than $145, but today, perhaps, it can rise even higher. So Steve is in no hurry.

The only sensible thought in this chapter, which they immediately refute, showing once again their complete lack of understanding of the elementary laws of market movement. We read:

Intel is now trading at $138 9/16 at $138 1/2. Will he overcome the maximum? Steve doesn't know, and he doesn't really care. He decided to exit and is preparing a sell order.

What's the maximum? If just 2 hours ago the price was $144 1/2 and less than half of the way has been passed from the “bottom” of $135 3/8? If Steve believes that the price will go in the opposite direction here, then there should be every reason to change the upward trend to a bearish one. But what are the reasons for such a reversal? None. Then why is Steve nervous if quotes can NOT go down, they will definitely go up? And the main rule of trading is based precisely on taking the “maximum amount of profit” by opening a trade at the beginning of a new trend wave. Instead we read:

Steve decides to exit and prepares a sell order at $138 3/8 for 2000 and waits for quick execution. Steve pours him $138 3/8 almost instantly. The market maker remains with the bid of $138 3/8, but reduces the volume to 1000. Steve is willing to sell the remaining 2000 shares at this price and offers them to the same market maker using the SelectNet preference. Fortunately (?!), he fills the offer for 2000. Steve congratulates himself on an excellent trade. He made $11,250 in these few hours, so he decides to end the trade. The market is the market, and you can't make all the money. You have to be able to stop in time.

What does it mean to stop on time? Close a trade at the beginning of a trend? Without checking what peaks the trend will reach today? And why couldn’t you move the stop loss from $135 3/8 to $137 7/16, GUARANTEING yourself 1 point of profit and moving with the trend further? Have you ever seen a trader who closes a trade at the beginning of a trend, turns off the computer and runs to his wife to eat pie? Me not. And the fictional character of Van Tharp and Brian Juna (who conveys their vision of trading and methods of working in the market) does just that(!)

He closes his trading programs, turns off his computer, and heads into the kitchen where his wife, Nancy, is cutting up a freshly baked banana cake.

"How are you doing, darling?" - she asks.

“It was a pretty good morning,” Steve replies. “We finished the session with 11 pieces.” The pie melts in his mouth, and he remembers about golf: “If you don’t mind, I’ll go to Al: we wanted to play a round today. By the way, remember that ad about San Martino? If everything goes well, next week we can go to the islands of days by five."

I really don’t understand WHY Van Tharp and Brian June devote almost half of the story in their book “Intraday Trading: Secrets of Mastery,” written ostensibly for traders, to such details that have nothing to do with the course of trading. And this is not typical for traders who, when retelling the progress of trading to another trader, will NEVER talk about how he played on the stock exchange “lounging in a chair”, “about another cup of coffee”, “about a banana pie” that “melts in your mouth”, about golf, when all thoughts are still about trading.

• How can you read this without smiling:

I hope you enjoyed this story. Although our character is fictional, the situations described are taken from real life. I and other intraday traders had similar transactions. Even though the specific trades and amounts generated are merely illustrative, Steve's mindset and trading style are typical of an experienced trader with direct access to the market.

• How do you like this: “Steve’s trading style is typical of an experienced trader”? And what, dear Van Tharp and Brian June, is typical for the pros?

1. working against the trend?
2. set stop loss unknown where?
3. absence of any indicators on price charts?
4. setting minute and daily charts side by side?
5. forget to move the stop loss from a losing position to a break-even position?
6. turn off the computer at the beginning of a trend?
7. the mythical $11,000 earnings in 2 hours earned by the fictional Steve?
8. Or is it typical for a trader to just eat his cake with a working methodology like you and your Steve on the stock exchange?

• So I have no doubt about it, especially after the fact that you wrote a number of revelations about yourself:

• “My fellow trader and friend R. A. Ishibashi generously gave of his time and talent to help us with ideas and suggestions, resulting in a much better book.”

Can you imagine WHAT these two “recognized experts” wrote, even after correcting their blunders professional trader, the number of INSANE things is so huge?

• Van Tharp" By now I have been working with traders and investors for 18 years" (in the gratitude section). Especially if this phrase is combined with another in the same section "This book is the fruit of our successful collaboration with Brian June. Brian creatively took many of the ideas that I developed for traders and transformed them into business principles."

I don’t know about you, I understood this as a fact that NOT a trader “expert” in the field of psychology Van K. Tharp, found another “expert” - NOT a trader - businessman Brian June, who grasped the opening commercial benefits of publishing the book, "and transformed them into business principles" for the publication of the book.

• By the way, Brian June is more explicit in his foreword:

"And, of course, this book could not have happened without Van Tharp. Van's influence on my trading is indescribable. Before I met and got to know Van, my success in trading was accidental."

Written by renowned trading experts Wang Tharp and Brian Jun, this book covers all aspects of intraday trading using direct market access. In addition to describing practical techniques for intraday trading, the authors paid considerable attention to the psychological aspects of working in financial markets. According to the authors, success in both long-term and short-term trading depends on the intellectual and psychological attitude of the trader, as well as the ability to approach trading as a business. It is with a practical business approach that success can be achieved on a sustainable basis.

When I was asked to write the foreword to this book, I was simply shocked. Although I have been a professional trader for 24 years and have been trading for myself for even longer, I have never had to act as a day trader. So why did they come to me with this offer?

This, it seems to me, has its own reasons. Firstly, I have always said that first of all I am a businessman and only then a trader. For me, trading is financial market- business. And this book, unlike most I have read, shows how to turn the trading process into a real business. For most electronic day traders, the chances of success are slim, but those who apply the business approach described in the book by Van Tharp and Brian June will have an undeniable advantage.

Secondly, trade is trade. The principles of competent work in the financial and commodity markets apply to everyone - both long-term traders like me and short-term speculators like Brian June. The period of time over which you make a profit does not matter; To trade successfully, a trader must act correctly. The market is tough. He has many ways of driving out amateurs and fooling those who think they know everything about him.

After reading a draft of this book, I realized that success in long-term and short-term trading depends on the correct preparation and inner attitude of the trader. Wang has been training traders for a long time, and I have seen the change in character and performance of those who have taken his course. I've even used some of his techniques in other areas of my life, like golf (but that's another story).

Collaboration made it possible to combine the unique experience of Wang Thar-pa and Brian Jun to write a book that would be truly necessary and useful for traders. Wang is involved in developing the skills of traders, and Brian, before becoming a successful trader, worked for a long time as a managing director in a large company. He brought a fiercely practical approach to Wang's principles and methods of successful trading, similar to those adopted in business. Together they did their best to convey the material to the reader in a clear and concise manner, and they succeeded.

I believe that there is a direct relationship between the thorough preparation of the field of activity and the final result achieved. That is why the first part of this book is entirely devoted to preparing and building the business plan necessary to achieve success. But the main thing in this preparation is knowing yourself. If you learn to understand yourself, you will be able to see what you believe in in the right light, both when it comes to trading and when it comes to yourself. After this, you will truly be able to formulate the purpose of your life. This is a huge step forward because, as the authors point out, if your trading goals do not align with your life aspirations and your view of yourself, you are doomed to fail from the start.

Intraday trading or Intraday is trading that occurs exclusively within one day, when both the opening and closing of orders occur on the same date, i.e. one calendar day.

With such trading, all positions are closed and opened within one day, while their duration ranges from one minute to almost 24 hours.

Intraday trading. Let's start with the main thing

Before moving on to the book itself, we should talk about the very specifics of intraday trading.

For novice traders, the main question is: “How to make successful profitable transactions on the stock exchange with a relatively small starting capital?” And this is quite possible, and this opportunity is called (Intraday, intraday trading or day trading).

The concept of intraday trading in its traditional sense, it means making short-term transactions that begin and end within 1 trading day (one day). Since Forex trading takes place around the clock, intraday trading is a transaction that was started and completed within the Asian, American or European session. A transaction can be successfully completed within a minute or less, or after several hours and take up to several days.

The main difficulty of intraday trading is the high influence of market noise on predicting the outcome of a transaction. A trader using intraday trading, in order to select the most optimal opportunity, must carefully analyze the current market situation, be disciplined and have an instant reaction.

But with all this, for novice market participants, intraday trading on Forex will provide an opportunity to accumulate their own experience and master the basics of money management. At the same time, the risk of loss of capital is relatively low and in some cases even allows itself to be avoided.

Anyone who plans to start working on Forex and apply intraday trading can easily undergo training by opening. And after mastering the basics of Intraday and tools that increase efficiency in the field of intraday trading, you can put them into practice, acquiring and increasing your capital.

Video: Using leverage in intraday trading. Which one to choose?

Review of the book by two authors Vann K. Tharp and analyst Brian June “Intraday Trading. Secrets of mastery"

Authors of the book on “Intraday trading. All the Secrets of the Master” created by Vann K. Tharp and his student Brian June, are recognized trading experts. This work covers all aspects of intraday trading.

Most of the book “Intraday Trading. All the Secrets of the Master,” written by Brian June, who is a student of Vann K. Tharp, but this does not make it any less valuable. If I may say so, then this is not even one book, but three at once, which are brought together under one cover. Moreover, two of them talk about all types of trading, and not just about day trading, as you might think by looking at the title of the work. Vann K. Tharp and his student, Brian June, explain to readers why most of them cannot achieve what they want. But let's take things in order.

The first part of the book the authors devoted to the psychology of trading, because it is this that serves as a successful start in trading, perhaps even more than the skill and knowledge of technical analysis. According to the authors of the book, the trader’s opponents (during trading) are not market participants sitting at the next table or in some other city or country, but their psyche and its weaknesses, which are characteristic of any gambling person, for example, fear, greed, etc. This is exactly what is touched upon in the 1st part of the book. Note that how to defeat the enemy is told at the most professional level, because... Vann K. Tharp holds a PhD in Psychiatry.

According to the authors, both in short-term and long-term trading, a trader’s success depends on the general psychological mood, as well as a competent and understanding approach to trading as a personal business. Only then will it be possible to achieve sustainable success.

In the second 30-page part of the book, written exclusively by Vann K. Tharp, outlines methods for calculating risk, managing money, etc. - everything on which the author made his name. Everything is written very clearly, intelligently and balanced.

In the third part of the book on intraday trading, the author's secrets of mastery, which is an excellent practical guide, reveals the secrets of intraday trading directly on the US stock market. The authors begin with an overview of the “NASDAQ Level II” information windows and then go on to tell in detail what exactly and why it is necessary to look out for in this flow of information.

Successful traders must always understand what stocks to buy and when, how to enter or exit the market, what the market is going to do right now, etc. Just the book guide “Intraday trading. Secrets of Mastery" will teach you literacy in this regard.

You can download the book here, and after studying it, make correct conclusions . After reading this work, you will see that there are a large number of different ways of behavior and different ways to achieve goals.

Download the book in pdf format with the ability to read online - Intraday trading. Secrets of the Master from author Vann K. Tharp and analyst Brian June

Advantages of trading in intraday trading

The choice of a trading option such as intraday trading provides participants with foreign exchange market many undeniable advantages. And one of the main advantages of day trading is the ability, with a relatively small investment capital, to open positions and at the same time use the maximum trading opportunities throughout the day. With a reliable and efficient trading strategy, intraday trading can bring in much more profits as opposed to long-term investments.

Another advantage of day trading is that you do not have to pay swaps if your open position is rolled over to the next day. Another advantage of this type of trading is the ability to use a large amount of leverage, which increases the trading volume and, accordingly, the profit you receive.

In addition, the use of intraday trading allows you to constantly monitor the market situation and the state of transactions.

Day trading is an excellent training ground for novice traders, when using it there is no need to build long-term forecasts and calculate the difference in lending rates, and besides, with this type of trading, for real earnings there are lower requirements for your minimum deposit.

Golden rules in day trading

If you are an employee, then whatever your profession is ( CEO, cleaner or engineer) Your time does not belong to you. In essence, you are a slave to the system. You need to do work that is not enjoyable and in which you do not believe in success. However, such work has to be done. And when you try to change the style or nature of work, you encounter bureaucratic or legislative obstacles. They decide for you what is important and what needs to be done next.

Most of the activities you do ultimately have nothing to do with making money or increasing productivity. They don’t even improve your business, but only give you the opportunity to feel like a corporate slave. Authors of the book “Intraday trading. Secrets of Mastery" know this from their own experience. They themselves have gone through this stage of life and understand that a moment will come when you will spend more time on bureaucratic formalities than on the work itself. And finally, the time will come when work will no longer bring any joy, but will turn into a daily routine.

What is the book “Intraday Trading” about? Secrets of mastery"

The situation described above is familiar to many. And everyone would like more freedom, just to break out of this vicious circle. This book will help you do this and at the same time help you start making real money. The authors of the book found long-awaited freedom thanks to trading. They believe that if they can do it, so can you. especially since you have such reliable partners as Brian June and Van Tharp. The work of these masters “Intraday trading. Secrets of Mastery" is not just a banal manual, it is a kind of map on which the path to freedom is laid out.

Such freedom can result from the personal financial well-being of each of us. The authors of the book sincerely believe that we can achieve the same personal and financial freedom as themselves. And they are ready to help us with this. But the statistics are relentless, they say that 95% of intraday traders lose and many of them lose everything. But the reason for this decline is the approach to business. Our preferences and inclinations, laid down in childhood, force us to act this way and not otherwise. But following them is not always correct.

Achieve success with the book “Intraday Trading. Secrets of mastery"

The authors of this book try to get to the bottom of the problem itself. They explain to us why many of us cannot achieve what we want. And education plays an important role in all this. We are taught to take information for granted without asking questions or experimenting. After all, everything has already been discovered and proven. And if we ask questions, then in such a way as to confirm what we have already heard. We are taught bias, which breeds the deliberate spread of incorrect information. And asking questions and looking for your truth in everything is very important.

A successful trader must always ask himself what stocks to buy right now, how best to enter the market and what the market is going to do at the moment. Work “Intraday trading. Secrets of Mastery" will help you become better and more insightful. They will show you that there are other ways of behavior, there are other ways to develop and achieve your goals. You will be taught to be a true master of your profile. They will reveal secrets inaccessible to this day and point you in the right direction. And all you have to do is make a choice - to follow this path or not. In any case, you will already have all the tools to work as a trader.