September 21, 2015

025: Dr Brett Steenbarger, trader and trading coach, discusses creativity, static thinking and why it's important to have unique ideas for trading success. We also cover tips to increasing our creativity, why traditional trading rules need to be updated,

Listen Later

1 hour

Brett N. Steenbarger, Ph.D. is a trader, psychologist and trading coach who has been actively involved in the financial markets since the late 1970s.

He is the author of a number of popular trading performance books and consults for hedge funds, investment banks and proprietary trading groups.

Brett has an interest in using historical patterns in markets to find a trading edge publishing measures and strategies on his popular TraderFeed blog. He is also a regular contributor to Forbes.

In this episode we discuss creativity, static thinking and why it's important to have unique ideas for trading success. We also cover tips to increasing our creativity, why traditional trading rules need to be updated, the challenges of daytrading and how to overcome them.

Topics discussed

Three important components of successful traders
Why the traditional rules of trading need to be updated
Why traders get stuck in static thinking and need to be more like entreprenuers
The two different types of trading brains and how understand which we are can improve our results
How creativity can be used in the strategy research process
Why we come up with ideas at seemingly random times and how that can be harnessed to improve our trading
The two stages of creativity and how traders are hurting their performance by neglecting the second stage
How just immersing ourselves in the market without stepping back can be harming our performance
Improving creativity through lifestyle
Why unstructured free time away from the markets can improve your trading
Techniques to turn creativity into a habit
How Brett identified his strengths and used those to dictate his trading style
The challenges of daytrading and how to approach them
Analysing successful trades to improve performance
Why we need to have something more important in your life than trading

PLUS listener questions on:

Applications of diffusion indices
Formalising edges and the impact of market regimes on edge performance
How traders can follow their rules about stops and targets
The psychological differences between systematic and discretionary trading
The validity of Acceptance Commitment Therapy (ACT) in trading
Handling drawdowns and turning it into a constructive experience
How to move from retail trader to full-time/pro

Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.

...more

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Better System Trader

By Andrew Swanscott chats with professional traders Larry Williams, Ernest Cha

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September 21, 2015

025: Dr Brett Steenbarger, trader and trading coach, discusses creativity, static thinking and why it's important to have unique ideas for trading success. We also cover tips to increasing our creativity, why traditional trading rules need to be updated,

Listen Later

1 hour

Brett N. Steenbarger, Ph.D. is a trader, psychologist and trading coach who has been actively involved in the financial markets since the late 1970s.

He is the author of a number of popular trading performance books and consults for hedge funds, investment banks and proprietary trading groups.

Brett has an interest in using historical patterns in markets to find a trading edge publishing measures and strategies on his popular TraderFeed blog. He is also a regular contributor to Forbes.

In this episode we discuss creativity, static thinking and why it's important to have unique ideas for trading success. We also cover tips to increasing our creativity, why traditional trading rules need to be updated, the challenges of daytrading and how to overcome them.

Topics discussed

Three important components of successful traders
Why the traditional rules of trading need to be updated
Why traders get stuck in static thinking and need to be more like entreprenuers
The two different types of trading brains and how understand which we are can improve our results
How creativity can be used in the strategy research process
Why we come up with ideas at seemingly random times and how that can be harnessed to improve our trading
The two stages of creativity and how traders are hurting their performance by neglecting the second stage
How just immersing ourselves in the market without stepping back can be harming our performance
Improving creativity through lifestyle
Why unstructured free time away from the markets can improve your trading
Techniques to turn creativity into a habit
How Brett identified his strengths and used those to dictate his trading style
The challenges of daytrading and how to approach them
Analysing successful trades to improve performance
Why we need to have something more important in your life than trading

PLUS listener questions on:

Applications of diffusion indices
Formalising edges and the impact of market regimes on edge performance
How traders can follow their rules about stops and targets
The psychological differences between systematic and discretionary trading
The validity of Acceptance Commitment Therapy (ACT) in trading
Handling drawdowns and turning it into a constructive experience
How to move from retail trader to full-time/pro

Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.

...more

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