reading fine book in trading psychology by Brett Steenbarger

Discussions about personal psychology for the individual trader.
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richard
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reading fine book in trading psychology by Brett Steenbarger

Post by richard » Sun Aug 22, 2004 9:08 pm

The Psychology of Trading is one of those books where you will make a lot of discoveries about yourself and about your life, if you are paying attention, that all tie into trading.

Steebarger is a psychologist specializing in "brief therapy" and also an active trader. The book has chapters that discuss an in-depth story of a patient, and draw lessons from that story about life, cognition, and trading.

It is an awesome book. I have read Douglas and I have Ari Kiev's book which I will read one of these days, but I can't see how it can top Steenbarger's.

Steenbarger says that we have many personalities, and he shows you how you can identify which personality is doing what, and trigger the "Observer" in you, a part of you that is watching and that can see the truth of what you are doing and why you are doing it. This isn't as Zen as it sounds. And Steenbarger has technique after technique in each chapter, so it isn't a bunch of generalizations and observations.

The first technique (which I have done for some months now and read that Larry Connors and Linda Raschke also do and you probably do too) is to keep a detailed trading journal with your thoughts, feelings, what is happening, why you are taking a trade, etc.

The second technique is to excercise in the morning (he does stretching and some calisthenics) and then talk out loud and explain each of your trading plans. Something about talking out loud and explaining your plans lets your brain process differently and he says you can identify what is really good, find holes and see potential traps or things you haven't thought through.

I am on the fourth chapter and I just love this book.

choppystride
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Post by choppystride » Mon Aug 23, 2004 5:16 am

He also has a good website: http://www.brettsteenbarger.com/articles.htm

The site is nonpromotional (except for a link to buy his book) and has some nice thoughtful articles.

William
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Post by William » Tue Aug 24, 2004 1:36 pm

Your post, helped motivate me to pick it up, it was sitting in my VAST library of books i want to read. Bought it off of Amazon and was looking for a time to read it. Not time is better than now...

I agree, i like his book, i am on page 43 and i find he has some good things to say...trick is to apply them now.. :wink:

PTCM
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has anyone tried the "world's most powerful glasses&quo

Post by PTCM » Sun May 08, 2005 12:28 am

Has anyone tried the "world's most powerful glasses" described on page 69 in Dr. Steenbarger's book ?

Does it really work ?

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