Friday, May 30, 2008

Welcome to the New Blog!

This blog will support my new book, which will be available in 2009. Entitled Becoming Your Own Trading Coach, it consists of very practical, user-friendly lessons that will show traders how they can use time-tested psychological techniques to advance their learning curve, improve their performance, and effectively deal with the stresses that are common to trading.

Wiley will be the book's publisher, and the book will contain several new elements not found in either of my two other trading books or in the Trader Feed blog. I'll be blogging about the book as I'm writing it to keep readers posted about its features and its development. In the interim, if you have topics you'd like to see covered in the text, by all means leave your suggestions as comments to this and future posts.

One of the topics I'm most excited about covering is one that I've been wanting to share for quite a while, but haven't figured out the right venue until now: how to use Excel to identify historical patterns in markets. Part of self-coaching is training yourself to find potential edges in the markets; the new book will be the first resource I'm aware of to tackle that training.

Thanks for the interest!



SSK said...

Well, I cant wait! Congratulations! Keep up the good work. Best, Steve

Bill Luby said...

Congrats on the new book-blog combo. I'm looking forward to hearing more about the Excel approach.



Brian said...

Like I said once, you are one of the hardest working guys in this business. Congratulations on the new book!

Unknown said...

Although I welcome this new topic and your new book I think that you're making a mistake starting a new blog for it. I'd like to see everything focussed in your current (very good) blog.

Whatever you decided I wish you the best of luck and look forward to reading your book when it comes out.

pmdr said...

Nice going, Dr. brett,


TraderFit said...


looking forward to reading more. the excel topic sounds very exciting.

looking foward to your new book.

Brett Steenbarger, Ph.D. said...

Thanks for the interest and the comments. I think over time it will become clear why I've devoted a separate blog to accompany the book. The book will contain links to this blog, so that there will be multimedia support for the book.


yatbb said...

Congrats Dr Brett and thank you.

otterby said...

Brett..your commitment to educate & enlighten makes the world a finer place.......thanks, denise

Anonymous said...

excellent idea. I will be a regular reader of this blog. Thanks for sharing.

Jorge said...

Dear Dr. Steenbarger,

After your first two great books, I was wondering what else you could add - thank you for clarifying. I think that your focus on making the book practical is fantastic and you're absolutely right: it will be the first of its kind. Everybody starts with the assumption that you have an edge and that all you need is discipline and a winning attitude (which certainly help), but virtually nobody gets down to how to get an edge other than generics on system testing.

A few suggestions from my own training and planning:

- Drilling exercises - in simulation mode, of course (placing and removing orders, trying to keep two limit order a few ticks above and below the market without either of them being hit, placing orders without stop-losses or profit targets and adding them on the fly, being always in the market via "reverse when stop is hit", etc.) Even though here the focus is on scalping, I think that everybody, no matter what their time scope can benefit from these exercises.

- Improving on the metrics provided by common programs (in order to have something more like TraderDNA) and non-conventional ways of looking at the results (for instance, measuring not only MAE & MFE, but also potential MAE & MFE 1, 5, 10 minutes [seconds, hours, days] after the exit).

- Creating an easy-to-maintain record keeping and journaling system (I'm experimenting with dictation - Dragon, etc., I'm yet to find a way to record the action in the DOM ladder).

- Ditto for a biofeedback system (the idea of this and the previous point being to be able to have a complete picture of each trade: what the market and indicators looked like before, during and after, PLUS what the trader looked like and to keep it all in relation to each other).

I'm working on some Excel sheets, I'll post them.

Thank you again for your outstanding no-bull contributions, you are truly the needle in the haystack.


Brett Steenbarger, Ph.D. said...

Great suggestions; thanks for taking the time to comment, Jorge--


Mark Wolfinger said...

Looking forward to the new book and the information you share.

Mark Wolfinger

Krasimir said...

Congratulations on your new project, Brett! I like very much the idea of multimedia support for the book.

Unknown said...

Hi Brett!

Congrats from germany!