The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist (Wiley Trading Book 399) 1st Edition, Kindle Edition

The Daily Trading Coach, 101 Lessons for Becoming Your Own Trading Psychologist. Brett N. Steenbarger Ph.D."Dr. Brett, as he is affectionately known by his blog readers, has assembled a practical guide to self coaching in this excellent book". So writes Brian Shannon of Alpha Trends on the back cover.Dr. Brett is indeed a truly remarkable person, one who has two memorable trading books to his credit already, "The Psychology of Trading" and "Enhancing Trader Performance". These books provide an incredible amount of really useful information delivered in a writing style which is easily understood and which flows well. You may wonder what else needs to be said and why it takes 349 pages to say it. Simply stated, this book addresses an issue to which far too little attention has been paid until now. Everybody accepts without question the fact that all world-class performers, in a great number of fields such as archery, basketball, chess, gymnastics, golf, playing any musical instrument and tennis, there are of course many others, receive constant coaching, feedback on their performances and advice. The resources open to traders however are quite limited. There are for instance a significant number of different trading styles, as well as many different underlying entities available for trading.Golfers, for example, realize that they should take lessons from someone of similar build, and approach to the game. Traders have a far more difficult task because of the number of variables involved as well as the shortage of coaches and mentors advertising a particular approach to a particular underlying security, be that security a stock, a bond, a mutual fund, a futures contract, or a currency cross traded on Forex.On a recent post on his excellent website, Dr. Brett gives details of the way in which nascent doctors are trained and the time necessary to achieve the required skills. In any of the endeavors I have mentioned, it takes several years to become fully competent, with only a small percentage of students achieving Master status. There are number of excellent trading coaches available, but their services are quite costly and it is simply not possible to achieve the necessary immersion in the subject without joining a trading firm on a full-time basis. This is not a viable option for most people, so for many traders a system of personal trial and error has to take the place of formal training. This situation has been changed by the arrival of this book.Dr. Brett is remarkably generous with all the time and effort he puts into his website and blog. Some months ago I suggested to him that he should make a modest charge for this work, but he told me he did not wish to do so. He has used his experience and the lively exchange of opinions with other bloggers and his own readers to build this book of 101 lessons, showing anyone with the necessary drive and interest how a significant improvement can be made in trading performance.Each lesson is designed to provide the guided imagery and the necessary enthusiastic energy to turn change into routine, converting the new behavior to second nature. Each lesson should be taken one day at a time in any order. When it is applicable, additional information will be posted on the Become Your Own Trading Coach blog, the address being given in the book. It may also be found through his website, [..]I believe the information in this remarkable book is worth hundreds of dollars, as it will supply you with the wherewithal to become self-reliant and self-sufficient. The beauty of Dr. Brett's method is that it requires a good deal of personal commitment to and work on the project but the results will be highly gratifying and may be carried into all areas of one's life. The book is beautifully produced in the characteristic and pleasing style of the trading books published by John Wiley and Sons Inc. Hoboken New Jersey. As befitting a book of this length and density, it comes in hardcover.This book receives five stars. I wish there were more available as it is that good.Humphrey E. D. Lloyd, MD

Dr. Steenbarger has hit it out of the park with this book. I love the chapters on trading mindsets and holistic perspectives. The mindset is examined in many chapters and I've read many trading books and this one is right up there. Also, there are some good tips about the holistic needs to successful trading. Diet and exercise plus balance in life are all necessary. Good stuff in these pages, just take your time reading it.

Forget all the other trading psychology books. Ive read them all. Just the section on pro traders sharing their psychology is worth it. That section has more usable info than the book market wizards which I also rate 5 stars! The resources and different sites you can explore to hook up with like minded traders is worth the price of the book. Brett pulls no punches. He allows the people he interviews to tell the turht, such as "The one constant is that it takes a substantial amount of research outside market hours to implement your plan and trading ideas." He describes day trading as if you are training for the olympics. You must be motivated and in condition and you must believe in your plan. Brett says one of the most beautiful things I think anyone can share with another person in a book..."Its amazing how much you can achieve when you know you are not ordinary."He talks about grounding yurself and the mental preparation you need to go thru before you even turn on the computer. He does not give set mandatory ideas but lets you find your own way. Lets put it this way, living on 5 hours of sleep per night and having donuts for breakfast every single day will eventually wear you down as a trader. You must train like you are going into an olympic event. He even gives a great site where you can order cd's with great trading affirmations which Ive already bought and love. I admit this, there is so much in this book, it took me 3 months to fiish it because I couldnt digest all the pertanant info on each page. You better have a highlighter and 2 different colored pens by your side when you read this book!I would love to find a study group to meet once per week in the Delray Beach area of Florida to really work on this book. The only book that comes close to it for trading psychology is Tools and tactics by Oliver Velez. Get both of them and you wont need any more psychology books.

Good book

Excelentes insights para obter auto controle nas suas operações. Tem muito conteúdo de valor. Recomendo!

un libro bastante recomendable, lleno de psicología que todo trader debe dominar, es como platicar con un coach tal cual

Truly game changing this book is!

This book has been a gem for my trading. Trading is mostly psychology at the end of the day. That’s why 60% of traders do not use stop losses, i.e. the prospect of losing, of being wrong is so painful they cannot even face it with a SL. Or revenge trading or gambling like behaviours with outsized lot size for their accounts. This book will dissect your trading psychology and give you a few Eureka moments. For myself it was leaning in my trading anxiety and accepting the feeling and pushing through instead of trying to push it away. As well cutting my winners too soon to secure my gains. The book gives you practical solutions for improving your trading psychology. 10/10 my only grip is the low density of the paper so highlighting is visible on the reverse page…

Amazing bookI recommend you without thinking just buy itIt cover psychological way