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we are creating the script where we would like to use Percent Volatility Position Sizing Method described in Van Tharp's book Trade Your Way to Financial Freedom. I was wondering if anyone could help us out.
"MODEL 4: THE PERCENT …
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Do you have a specific question about Tharp's ideas or just want to know who's read the book?
I am interested to read the book and as you mentioned very hard to find, expect if you order directly from vantharp.com, pretty expensive around $200.
Anyway, I am interested to borrow the book from someone who has it, as I tried couple local libraries but in vain.
I thought he had a smaller guide, which was cheaper. Also, I think many of the methods are discussed in his other books (which probably are available from the library).
I'm surprised no university library around you has it.
I have read the book a number of times. For me the book was what I needed to understand that Money Management is the key to the Vault. Based on the models mentioned in the book and based on past lectures, we developed our own position sizing software. I would recommend the book to any trader.
Just for the record: I do not have any affiliations with Mr. Van Tharp or IITM
Key points in my opinion:
- money management is everything ("R" multiplies)
- his SQN value for qualifing (mechanical) systems and how good they fit to MM rules.
- Also some things on CPR and other position sizing methods.
SQN can be "improved" by also taking "Avg. Time in Market" into account, but thats just my opinion.
One of the better books about MM i have read, so i would recommend it. Also if you have an interest in evaluating mechanical trading systems (in that case, you maybe would like to read the book from "Robert Pardo", but i am no pro on mechanical trading systems).
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