Ep. 247: Van Tharp Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 14 June 2014
⏱️ 41 minutes
🧾️ Download transcript
Summary
My guest today is Van Tharp, Tharp runs the Van Tharp Institute and is the author of four acclaimed books published by McGraw Hill: Super Trader, Trade Your Way to Financial Freedom, Safe Strategies for Financial Freedom, and Financial Freedom Through Electronic Day Trading. He was also featured in Jack Schwager's Market Wizard's: Interviews with Great Traders. Van Tharp received his Ph.D. in psychology, is a certified Master Practitioner of Neuro Linguistic Programming (NLP), a Certified Master Time Line Therapist, a certified Modeler of NLP, and an Assistant Trainer of NLP. He has used his expertise in NLP to create the successful models of trading and investing upon which so much of his work is based.
The topic is his book Trading Beyond the Matrix: The Red Pill for Traders and Investors.
In this episode of Trend Following Radio we discuss:
- Beliefs in the context of trading and investing
- The moment of now, and the Navajo's belief of a never-ending present
- The belief examination paradigm
- "Big money" and what it means to Van Tharp
- The idea of "trader jail"
- Fear of the unknown
- The importance of sleep
- The difference between spirituality and religion
Jump in!
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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.
To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/
You can watch a free video here: https://www.trendfollowing.com/video/
Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast
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Instagram: @mikecovel
Hope you enjoy my never-ending podcast conversation!
Transcript
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| 0:00.0 | This is Trend Following Radio, where great thinking comes alive. |
| 0:10.9 | Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings. |
| 0:21.1 | I am your host, Michael Covel. |
| 0:24.0 | Not filtered, raw, honest. |
| 0:27.4 | That's my passion. |
| 0:32.9 | Today on the show, making his second appearance, is Van Tharp. |
| 0:38.6 | Van Tharp, profiled in Jack Schwager's classic series of the market wizards. |
| 0:45.8 | I hope you enjoy. |
| 0:56.3 | Hey, so let's jump right in, Van. |
| 1:02.7 | In going through some of your most recent work, there's a certain spiritual side to it. |
| 1:07.6 | But before I even get into that and the discussion will definitely go that direction, |
| 1:09.9 | I want you to talk about beliefs. And, you know, people sometimes |
| 1:12.7 | maybe they'll think, oh, I know what a belief is, but I would like for you to define a belief |
| 1:18.1 | and then maybe define it in the context of trading, investing. There's a lot of definitions for that, |
| 1:25.7 | but I will call a belief any thought that floats through your mind that you attach to. |
| 1:33.9 | And the more you attach to it, it becomes the more serious it becomes. |
| 1:39.5 | So there's two different hierarchies for beliefs. |
| 1:43.7 | For example, Don Miguel Ruouris has a book called Five Levels of Attachment, |
| 1:50.2 | so he has things where you are not attached at all, it just flows through, |
| 1:56.0 | and then things where you develop by preference, |
| 1:59.3 | and then where it becomes part of your identity, |
| 2:02.6 | and then you would really internalize it and you become fanatical about it. |
... |
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