Brett Steenbarger. Trader's tutorial
How important is psychology in trading? What to do if the trade "does not go", and in the end you get only a merged Deposit, spent nerves and a lot of mistakes? How not to give up? There is an answer.
Hello, dear traders! My name is Jan Sikorsky! Today I have prepared for You a review of the acclaimed book from Brett Steenbarger " self-Help trader. Psychology, technique, tactics and strategy".
The author of this book has a doctorate in psychology and is a specialist in psychiatry and behaviorism. In the financial world, Brett Steenbarger became known for his work as Director of trader development at Chicago-based Kingstree Trading, LLC. He also worked as a full-time psychologist at Kingstree Trading, LLC. Therefore, everything that is understood in the book is somehow related to the traders of this company.
Although, the author admits that he deliberately distorted the names and times of certain events in order to maintain confidentiality.
Every trader has a bad time one day. This book is about how to overcome such periods and get out of them even stronger.
At the beginning of the book, the author emphasizes that, first of all, you need to find your own trading niche, so that people feel comfortable while trading. The following are practical tips for finding your market niche. After that, the author proceeds to the concept of competence in trading.
Then Brett Steenbarger moves on to various competency development strategies and asks the main questions: "How do I structure my training? Can traders teach themselves?»
And to all his questions, Brett Steenbarger gives a detailed answer with a clear justification for his point of view. The next step after competence, according to the author, is the development of skill. We also discuss techniques that increase the effectiveness of trading.
Technique, tactics and strategy during trading are highlighted separately. After describing the technique, tactics and strategy, the author gives ready-made cases for solving various psychological problems.
In the final part of the book, the author gives an example of a portrait of a trader in different periods of trading time.
This book is a must-read for all active traders.
In its time, it helped me overcome a lot of problems. The reality is that any trader faces a lot of problems during their trading journey, and the worst thing is that, in most cases, they do not know the root cause of this problem and focus on the consequence. This usually leads to the fact that the trader just goes around in circles and can not understand why he does not succeed. Brett Steenbarger's book is mainly about identifying the root cause of a problem and solving it. I advise everyone to read it!