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Trading is a Business
The following report compares books using the SERCount Rating (base on the result count from the search engine).
Rating: 4.17/5 from 6 reviews Ross vs Van TharpRoss vs Van TharpTrading is a business Do not be mislead by the title. "Trading as a business," has little to say about business and a lot to say about Joe Ross and chart reading. SuperbIn this book I FINALLY realized what RISK is. After having read every major book on the subject. Thank you Joe Ross. | ||||||||||||||||||
A more descriptive name might be Ross's "Tricks of a trader." Joe has many helpful tips about trading and technical analysis. Not a course in "Trading for a business 101," but it is always refreshing to hear a trader ramble on about trading.
I like Joe's books. Ross's "Trading Spreads and Seasonals," is at the top of almost 40 books in my Listmania "Seasonal Spread Traders Library." Joe trades by legging into spreads.
Joes business book is as Kindergarten, where Tharp's is as a MBA. Ross's subtle references to business are unlikely to make a useful impression on a new technician. You must have a plan to become financially independent. Tharp's will help you develop a trading system and business plan at a fraction of the cost of Ross.
It must be said both authors depend upon the reader having previous experience with a consistently working entry technique.
Speculation is a business of managing profits. Without the readers experience with consistent profits, managing profits is just a fantasy.
Ross aims at small steady profits, Tharp teaches risk management.
The fundamental difference is that Ross admittedly a short term Trader in this book, advocates risking a full position when you first get in and holding a small position when the market runs. Walter Bressert advocates a similar technique.
Tharp suggests simply that if you had held your full initial position until final liquidation you would have had more profits in every case.
If you want a book about trading, technical analysis etc. Joes book is fine. If you are interested in learning the business side of "Trading," I suggest Tharp's "Trade your way to Financial Freedom," instead.