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Written by Brett N. Steenbarger |
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A theme I emphasize with new traders is that it is important to trade like a scientist. The scientific mindset is one that can be rehearsed and cultivated--and eventually internalized.
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Written by Brett N. Steenbarger |
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In past posts, I've written about daughter Devon (above, front left) and her principle, and I've shared the story of son Macrae (above, front right) and our multicultural experience. This one is about the mom, Margie (right rear) and what it takes to succeed as the spouse of a trader. (Mad props to photographer Rob Grego for the Vermont stream shot).
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Written by Brett N. Steenbarger |
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Having had the privilege of interacting with many independent traders, prop traders, and traders at funds, I've come to the conclusion that most of them are overleveraged. In the pressure to generate profits, they trade size that is too large relative to the losses they or their firms are willing or able to sustain.
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Written by Brett N. Steenbarger |
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A regime is a relationship that exists in recent history between one or more variables and prospective price changes in a trading instrument. Some regimes describe intermarket relationships. For instance, we recently saw a period in which falling bond prices were associated with falling stock prices.Other regimes describe relationships between market indicators and price change.
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Written by Brett N. Steenbarger |
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A blog reader recently asked me this simple, but not-so-simple question. My book Enhancing Trader Performance is an attempt to describe the process by which traders (and professionals in other fields) develop expertise, and I know of quite a few traders who are using ideas from the book to guide their own development.
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Written by Brett N. Steenbarger |
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A common perspective is that traders run into problems because of personal (or personality) flaws. My experience with successful traders in professional settings, however, finds that the successful traders often have as many of those shortcomings as other traders. The difference lies in their personal strengths - and how they bring these to bear in their trading.
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Written by Brett N. Steenbarger |
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A reader recently wrote to me the following: I was a successful consistent trader who always hit singles and doubles ($1000-$3000 a day) for 48 months in a row without having a losing month (1999-2003).Then one day I struck out. I lost $38,000 in one stock and had my first losing month as a trader ever.
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