#1 - Dr. Van K. Tharp - System Thinking: The Holy Grail to dealing with a Pandemic or any other crisis
March 2, 2021
Ron William interviews Van K. Tharp.
Ron William interviews Van K. Tharp on the following subjects:
1. The markets are a process not a think. When you turn it into a thing and give it characteristics and represent it a certain way, you need to realize that that representation is made up. It’ represents your beliefs. Thus, you must trade useful beliefs – meaning that have value (i.e., make you money) in a wide context and will work for a lot of people. And here its important to know that beliefs are not true, but we can call them facts if they work in a wide enough context.
2. There are multiple factors that influence the outcome of a trade. And this is what systems thinking it about – it’s not just your trading system, but there are also about 15 total systems that we’ve identified that could impact your trading.
3. And the fact that the most important system in this pandemic is the You factor. If you understand how to master that factor, then you have a good chance of doing a lot more than surviving.
Ron William is an active member of the International Federation of Technical Analysts (IFTA) and Vice President and Head of the Geneva Chapter of the Swiss Association of Market Technicians (SAMT).
Learn more about the International Federation of Technical Analysts: IFTA.org
Join our facebook Group: Friends of IFTA
Risk Disclosure
This podcast is a presentation of the International Federation of Technical Analysts (IFTA), but the views and opinions expressed are those of the presenter and other speakers, not those of IFTA. This podcast is disseminated for informational purposes only, and nothing contained in it may be construed as investment or other advice. Nothing contained in this podcast shall be interpreted as a warranty of any kind by IFTA, either express or implied, including without limitation the warranties of merchantability or fitness for a particular purpose. In no event shall IFTA be liable to any listener, viewer or other person for damages of any kind, including special, direct, indirect, consequential or incidental damages, or for loss of profits, revenue, use or data, whether claimed in contract, tort or otherwise. Where exclusion of implied warranties is not permitted, IFTA’s liability shall be limited to the minimum scope and period permitted by law.
1. The markets are a process not a think. When you turn it into a thing and give it characteristics and represent it a certain way, you need to realize that that representation is made up. It’ represents your beliefs. Thus, you must trade useful beliefs – meaning that have value (i.e., make you money) in a wide context and will work for a lot of people. And here its important to know that beliefs are not true, but we can call them facts if they work in a wide enough context.
2. There are multiple factors that influence the outcome of a trade. And this is what systems thinking it about – it’s not just your trading system, but there are also about 15 total systems that we’ve identified that could impact your trading.
3. And the fact that the most important system in this pandemic is the You factor. If you understand how to master that factor, then you have a good chance of doing a lot more than surviving.
Ron William is an active member of the International Federation of Technical Analysts (IFTA) and Vice President and Head of the Geneva Chapter of the Swiss Association of Market Technicians (SAMT).
Learn more about the International Federation of Technical Analysts: IFTA.org
Join our facebook Group: Friends of IFTA
Risk Disclosure
This podcast is a presentation of the International Federation of Technical Analysts (IFTA), but the views and opinions expressed are those of the presenter and other speakers, not those of IFTA. This podcast is disseminated for informational purposes only, and nothing contained in it may be construed as investment or other advice. Nothing contained in this podcast shall be interpreted as a warranty of any kind by IFTA, either express or implied, including without limitation the warranties of merchantability or fitness for a particular purpose. In no event shall IFTA be liable to any listener, viewer or other person for damages of any kind, including special, direct, indirect, consequential or incidental damages, or for loss of profits, revenue, use or data, whether claimed in contract, tort or otherwise. Where exclusion of implied warranties is not permitted, IFTA’s liability shall be limited to the minimum scope and period permitted by law.