Enhancing Trader Performance: Proven Strategies From the Cutting Edge of Trading Psychology
$12.20
| Author(s) | |
|---|---|
| Pages |
302 |
| Format |
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| Published Date |
2006 |
Enhancing Trader Performance forged from storms and tempests. Roughly one year after the publication of The Psychology of Trading, Steenbarger left the protected world of academic medicine to tackle the rough-and-tumble world of proprietary trading in Chicago.
Author’s Introduction:
As I write this, many traders are coming home empty-handed. The old ways of trading—sticking with the well-populated stock indexes and trading patterns of momentum and trend—are no longer working. I recently wrote an article for the Trading Markets web site in which I tracked the proportion of two-day trending periods in the S&P 500 Index over the past 40 years. The resulting graph sloped steadily downward. Many individual stocks, however—particularly those not typically included in the baskets of stocks employed in program trading and arbitrage—showed an upward slope, as did selected alternative trading vehicles. Futur performance is likely to require increasing degrees of creativity in matching trading styles and markets.
My personal research and trading have shifted in that direction, and I invite you to join me in the quest for alpha by staying in touch through the web sites. I hope that this book will not only assist individual traders, but also help to speed developments within the trading industry. Until now, much of trading education has consisted of the provision of content: seminars, articles, and information. Increasingly, I believe we’ll see a shift toward ongoing training and the professionalization of trading as a discipline.
We are already seeing the start of such a development in the software field. Just a few years ago, we had separate applications for market analytics, charting, screening, and order execution. Now we are seeing vendors roll all of these features into single, integrated applications that streamline the process from trade idea development through trade management. I recently sipped coffee at a Chicago Starbucks with Joe Kohnen of CQG, Inc., and reviewed the path his company had taken: depth of market, charting, analytics, and order execution now exist on a single page, with order entry as simple as releasing the mouse on the bar of a chart. Rapidly, these performance efficiencies are becoming the norm for all electronic traders.
Contents:
- Where Expertise Begins
- Finding Your Performance Niche as a Trader
- Building Competence
- Strategies for Cultivating Competence
- From Competence to Expertise
- Mechanics, Tactics, Strategies
- Performance Dynamics
- Cognitive Techniques for Enhancing Performance
- Behavioral Techniques for Enhancing Performance
Enhancing Trader Performance: Proven Strategies From the Cutting Edge of Trading Psychology By Brett N. Steenbarger pdf
12 reviews for Enhancing Trader Performance: Proven Strategies From the Cutting Edge of Trading Psychology
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Mackenzie Willis (verified owner) –
Summary from my full length review – An introduction in utilizing psychology to enhance one’s trading performance. Real life examples and practical advices are provided throughout the book that I find useful. Highly recommended.
Anaya Wong (verified owner) –
I couldn’t sleep tonight so I decided to read this book. Steenbarger is an excellent writer and can definitely tell a good story, but the problem is, and it’s a large one, it’s very jumbled and interrupted with another recommendation for another book that he thinks is great but tells you little about. And so it goes. Halfway through I began to wonder if any of this would change. I continued on, and the answer is no. Lots and lots recommendations, some stories about his ABC plan. Not much value overall.
Savannah Buckley (verified owner) –
Brett’s other books are quite good; however, this is my favorite pick of the stress is it is the most actionable of the lot if you’re already a trader who has been in the markets for a couple of years. a Strong BUY
Orlando Gutierrez (verified owner) –
To benefit from this book you must first have a trading system. The author’s objective is to show you how to improve the results of any trading strategy using risk reduction through the elimination of nonproductive methods.
The author postulates that trading performance is effectively measured using three metrics:mechanics, strategy and tactics. He advocates improving these three metrics by using learning loops which can slowly but incrementally improve trader performance. He also touches on psychological aspects of trading and discusses how one can use cognitive and behavior techniques to modify destructive behavior and build more constructive behavior.
This book shows you how to improve your trading through a systematic iterative process and is essentially devoid of psychobabble you see in most other books on trading psychology. This iterative process allows you to identify weaknesses in your trading system and take actions to improve them.
Aryan Hamilton (verified owner) –
Another trading psychology book which describes the psychological problems of trading but fails to give actionable strategies a trader can put in place straight away to improve their trading. I’ve been trading for eight years now and after about five years I realised that the problem wasn’t my systems it was that I wasn’t trading my systems as I was supposed to. I was getting in my own way. As a qualified therapist I decided to use my knowledge to design my own strategies which I was able to do. Another book that tells you what the problems are but fails to tell you how to deal with them.
Amirah Grimes (verified owner) –
I have been in finance for 25 years, including being a stockbroker. This book is written in very easy language that gives simple solutions to the common pitfalls of trading. I am very very glad I read it. It takes away the fantasies about trading and gives the hard reality of trading. I like his breathing technique for calming the nerves. It really works! This book, along with Rande Howell’s book from tradersstateofmind.com are the best books I have ever read about the psychology of trading, and I have read many.
Walter Wright (verified owner) –
This is one of the best, if not the best, book on the psychology of trading I have ever read. I hope that the author, instead of trying to write a new book with a new approach, comes back to this book and revises (the writing could be improved upon) and republishes it at some point. This book is a classic for its subject. It covers the psychology of trading so well that no other book is necessary, in my experience, and I have read Steenbarger’s other books, along with many books about trading and trading psychology. While I may be wrong in this opinion, I know that if you want to understand the psychological problems associated with trading, and their treatment, you should read this book. Chapters 8 and 9, the final chapters, say it best.
Harlan Barajas (verified owner) –
You’ll learn a lot. Really liked it
Remington Winters (verified owner) –
I’ve read many trading books and this one is different enough and provides enough value that I recommend it greatly. Break out the highlighter and also, don’t put it away on the bookshelf… keep this book close by and revisit often. Congrats on making this valuable purchase.
Dangelo Fletcher (verified owner) –
better than “Trading in the zone”
Keilani Conway (verified owner) –
I’ve read allot-allot-allot of books like this on trader psychology and Trader improvement. This is the best one. And I was particularly grateful for Brett’s inclusion of detailed references to other authors and helpful websites. I ended up reading a bunch of other books on general performance improvement which really helped my comprehension of the subject.
Kataleya Peralta (verified owner) –
a must read!