Description
Being a trader and coach of traders, Brett Steenbarger shares 101 lessons to help all traders become their own psychologist of trading through his book, Daily Trading Coach. In this work of art, Steenbarger shares the things that traders need to help them balance their trading career and personal lives and be successful on both ends by discovering their personal inner qualities.
A primer to a daily guide to trading, this book is equipped with all the necessary elements that a trader needs to know and remember before, during, and after entering the trading battlefield along with its adversities and complexities. A dose of a daily reminder of the proper mindset to trading is what this book primarily offers.
About the Author
Brett Steenbarger is a trader of traders’ coach and wrote several popular books and other publications. A master of hedge fund, Steenbarger coaches investors, trading groups, and investment banks. He is teaching at SUNY Upstate Medical University.
Table of Contents
The book contains 101 lessons distributed in ten chapters. The topics include:
CHAPTER 1 Change: The Process and the Practice
1: Draw on Emotion to Become a Change Agent
2: Psychological Visibility and Your Relationship with Your Trading Coach
3: Make Friends with Your Weakness
4: Change Your Environment, Change Yourself
5: Transform Emotion by Trace-Formation
6: Find the Right Mirrors
7: Change Our Focus
8: Create Scripts for Life Change
9: How to Build Your Self-Confidence
10: Five Best Practices for Effecting and Sustaining Change
CHAPTER 2 Stress and Distress: Creative Coping for Traders
11: Understanding Stress
12: Antidotes for Toxic Trading Assumptions
13: What Causes the Distress That Interferes with Trading Decisions?
14: Keep a Psychological Journal
15: Pressing: When You Try Too Hard to Make Money
16: When You’re Ready to Hang It Up
17: What to Do When Fear Takes Over
18: Performance Anxiety: The Most Common Trading Problem
19: Square Pegs and Round Holes
20: Volatility of Markets and Volatility of Mood
CHAPTER 3 Psychological Well-Being: Enhancing Trading Experience
21: The Importance of Feeling Good
22: Build Your Happiness
23: Get into the Zone
24: Trade with Energy
25: Intention and Greatness: Exercise the Brain through Play
26: Cultivate the Quiet Mind
27: Build Emotional Resilience
28: Integrity and Doing the Right Thing
29: Maximize Confidence and Stay with Your Trades
30: Coping—Turn Stress into Well-Being
CHAPTER 4 Steps toward Self-Improvement: The Coaching Process
31: Self-Monitor by Keeping a Trading Journal
32: Recognize Your Patterns
33: Establish Costs and Benefits to Patterns
34: Set Effective Goals
35: Build on Your Best: Maintain a Solution Focus
36: Disrupt Old Problem Patterns
37: Build Your Consistency by Becoming Rule-Governed
38: Relapse and Repetition
39: Create a Safe Environment for Change
40: Use Imagery to Advance the Change Process
CHAPTER 5 Breaking Old Patterns: Psychodynamic Frameworks for Self-Coaching
41: Psychodynamics: Escape the Gravity of Past Relationships
42: Crystallize Our Repetitive Patterns
43: Challenge Our Defenses
44: Once Again, with Feeling: Get Distance from Your Problem Patterns
45: Make the Most Out of Your Coaching Relationship
46: Find Positive Trading Relationships
47: Tolerate Discomfort
48: Master Transference
49: The Power of Discrepancy
50: Working Through
CHAPTER 6 Remapping the Mind: Cognitive Approaches to Self-Coaching
51: Schemas of the Mind
52: Use Feeling to Understand Your Thinking
53: Learn from Your Worst Trades
n 54: Use a Journal to Restructure Our Thinking
55: Disrupt Negative Thought Patterns
56: Reframe Negative Thought Patterns
57: Use Intensive Guided Imagery to Change Thought Patterns
58: Challenge Negative Thought Patterns with the Cognitive Journal
59: Conduct Cognitive Experiments to
Create Change
60: Build Positive Thinking
CHAPTER 7 Learning New Action Patterns:
Behavioral Approaches to Self-Coaching
61: Understand Your Contingencies
62: Identify Subtle Contingencies
63: Harness the Power of Social Learning
n 64: Shape Your Trading Behaviors
65: The Conditioning of Markets
66: The Power of Incompatibility
67: Build on Positive Associations
68: Exposure: A Powerful and Flexible Behavioral Method
69: Extend Exposure Work to Build Skills
70: A Behavioral Framework for Dealing with Worry
CHAPTER 8 Coaching Your Trading
71: The Importance of Startup Capital
72: Plan Your Trading Business
73: Diversify Your Trading Business
74: Track Your Trading Results
75: Advanced Scorekeeping for Your Trading Business
76: Track the Correlations of Your Returns
77: Calibrate Your Risk and Reward
78: The Importance of Execution in Trading
79: Think in Themes—Generating Good Trading Ideas
80: Manage the Trade
CHAPTER 9 Lessons from Trading Professionals: Resources and Perspectives on Self-Coaching
81: Leverage Core Competencies and Cultivate Creativity
82: I Alone Am Responsible
83: Cultivate Self-Awareness
84: Mentor Yourself for Success
85: Keep Detailed Records
86: Learn to Be Fallible
87: The Power of Research
89: A View from the Trading Firms
90: Use Data to Improve Trading Performance
CHAPTER 10 Looking for the Edge: Finding Historical Patterns in Markets
91: Use Historical Patterns in Trading
92: Frame Good Hypotheses with the Right Data
93: Excel Basics
94: Visualize Your Data
95: Create Your Independent and Dependent Variables
96: Conduct Your Historical Investigations
97: Code the Data
98: Examine Context
99: Filter Data
100: Make Use of Your Findings
101: Find Your Path
