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The Daily Trading Coach
Every trader is an entrepreneur. And just as a new business must capitalize upon the strengths of its founders, a career in the markets crucially hinges upon the assets—personal and monetary—of the trader. As an active trader and a coach of traders in hedge funds, proprietary trading groups, and investment bank settings, author Brett Steenbarger has helped others see the personal assets they have possessed all along: those that can pay a lifetime of dividends.
In The Daily Trading Coach, Steenbarger provides the tools to help you prioritize both your trading goals and your life—and become your own trading psychologist.
There are 101 lessons in The Daily Trading Coach, each averaging several minutes in length. Each lesson follows the same general format: identifying an everyday challenge that traders face, an approach to meeting that challenge, and a specific suggestion for implementing that approach. The lessons cover a range of topics relevant to trading psychology and trading performance, including detailed instruction for utilizing psychodynamic, cognitive, and behavioral brief therapy methods to change problematic behavior patterns and instill new, positive ones. In addition, the book includes insightful self-coaching perspectives from 18 successful trading professionals who share their work online.
While the aim of the book is to help you become your own trading coach, its broader purpose is to help you coach yourself through life. The challenges and uncertainties you face in trading—the pursuit of rewards in the face of risks—are just as present in careers and relationships as in markets. The Daily Trading Coach provides a road map, and a practical set of insights and tools, for discovering and implementing the best within you.
In The Daily Trading Coach, Steenbarger provides the tools to help you prioritize both your trading goals and your life—and become your own trading psychologist.
There are 101 lessons in The Daily Trading Coach, each averaging several minutes in length. Each lesson follows the same general format: identifying an everyday challenge that traders face, an approach to meeting that challenge, and a specific suggestion for implementing that approach. The lessons cover a range of topics relevant to trading psychology and trading performance, including detailed instruction for utilizing psychodynamic, cognitive, and behavioral brief therapy methods to change problematic behavior patterns and instill new, positive ones. In addition, the book includes insightful self-coaching perspectives from 18 successful trading professionals who share their work online.
While the aim of the book is to help you become your own trading coach, its broader purpose is to help you coach yourself through life. The challenges and uncertainties you face in trading—the pursuit of rewards in the face of risks—are just as present in careers and relationships as in markets. The Daily Trading Coach provides a road map, and a practical set of insights and tools, for discovering and implementing the best within you.
MP3 CD
First published March 3, 2009
277 people are currently reading
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Displaying 1 - 25 of 25 reviews
February 23, 2020
tl;dr READ MY BLOG
It's just a mix of posts from the Brett blog. That's it. Every chapter (101 of them) is with a link to his blog. Don't buy this book, just read his blog. Click it. Scroll it. Yeah, view time and clicks that what matters.
The content is mediocre, the same advice all over the internet.
It's just a mix of posts from the Brett blog. That's it. Every chapter (101 of them) is with a link to his blog. Don't buy this book, just read his blog. Click it. Scroll it. Yeah, view time and clicks that what matters.
The content is mediocre, the same advice all over the internet.
August 28, 2023
اگر چه به عنوان یه کتاب تخصصی خوندمش ، ولی میشه ازش توی ابعاد دیگه زندگی هم استفاده کرد . راضیم ازش
July 11, 2014
The Daily Trading Coach had some excellent lessons and insights, but it was long and repetitious....hence the 2-star rating. No question....Brett Steenbarger has the experience, the intellect, knowledge of trading and markets and the educational background to perform as a top trainer for traders. And the book did pass on some excellent learning; I am glad I read it. But the impact of the book would have been far greater had it been condensed to 30 lessons instead of 101.
January 29, 2018
- let the market come to you, don't chase.
- if you want to diversify your trading style diversify the timeframe
- find the market that best fits you not the other way around
- learning to cut losses is similar to cutting out things in your life. You should look to eliminate things that aren't working for you
- emphasize your strengths and focus on how to make those better. Make sure that you understand what are your weaknesses as well
- if you want to diversify your trading style diversify the timeframe
- find the market that best fits you not the other way around
- learning to cut losses is similar to cutting out things in your life. You should look to eliminate things that aren't working for you
- emphasize your strengths and focus on how to make those better. Make sure that you understand what are your weaknesses as well
October 2, 2016
It's an invaluable resource of ideas for being your own trading coach. I've got lots of quotes from this book, esp. with regard to psychological side of trading. Here's one of them: "Focus on your best trading and you begin the process of extinguishing your worst practices."
August 18, 2013
A lot of information in this book to digest but I learned a lot. I will likely read this book a few more times to garner more information. Recommend to take control of your trading.
August 22, 2024
As an Audiobook, 3.1/5
This book sucks, although there are two or three useful practical strategies in there that I will incorporate into my trading like :
-To know the difference between a good and real setup and a forced one, on an emotional level, pay attention to the emotion that comes with it, if it's an anxious feeling, with thoughts like "I need to get something going", if on the other hand the trade setup is not forced, although anxiety can be present, there is no deep negative emotion present.
- The more you practice certain behavior patterns the more ingrained they become. If you are an organized and disciplined person outside of trading, it will work as a training ground to also cement those traits in your interactions with the market.
- Mental rehearsal is another way to create awareness and exposure to scenarios where your actions don't align with you'd process.
- Tension in the body, needs to be relieved, masages can help.
- Record the feelings attached to situations in your trading.
-Treat yourself with compassion, you would not talk with a coworker the way you talk to yourself.
- Incremental changes, change a few things at a time, at most. Setbacks can happen, be consistent with your effort.
The main takeaway from the book seems to be the Authors jewish wokeness, lack of understanding of basic trading principles, unnecessarily long explanations and too much time wasted on diagnosis instead of solutions :
- The Author constantly makes references to his worldview, the diversity of "La Guardia" that is so challenging and enriching. He mentions rabbis, Victor Frankl, Ayn Rand and other Jewish propagandists.
- His jewish wokeness made him describe all examples with "her" and "she" which makes the entire book more confusing.
- His lack of understanding of trading fundamentals make him give advice like : "don't try to make more than the 40% the best Hedge Fund average" its supposedly unrealistic. Yeah, what a great idea you fucking idiot, just limit your assymetry, which is what trading is all about.
Ambition means safety in trading.
Great idea, buddy. promote self limiting believes, so that people never really generate a difference between their risk and reward.
- The Author does not understand the importance of a trading system, I don't think he is a profitable trader.
I've had years where I've made 3200%, I know people personally that have made more than 700% yearly, consistently.
This book has been a net negative for me. Thank God I didn't listen to it as a beginner, it would have created a lot of confusion.
The stereotype of the jewish lecturer is at full display, you will never see or hear from these people any support for Christian white males, who are the ones that actually buy his shitty book and pay him undeserved amounts of money for his consulting Business to Hedge Funds and Prop trading firms.
This book sucks, although there are two or three useful practical strategies in there that I will incorporate into my trading like :
-To know the difference between a good and real setup and a forced one, on an emotional level, pay attention to the emotion that comes with it, if it's an anxious feeling, with thoughts like "I need to get something going", if on the other hand the trade setup is not forced, although anxiety can be present, there is no deep negative emotion present.
- The more you practice certain behavior patterns the more ingrained they become. If you are an organized and disciplined person outside of trading, it will work as a training ground to also cement those traits in your interactions with the market.
- Mental rehearsal is another way to create awareness and exposure to scenarios where your actions don't align with you'd process.
- Tension in the body, needs to be relieved, masages can help.
- Record the feelings attached to situations in your trading.
-Treat yourself with compassion, you would not talk with a coworker the way you talk to yourself.
- Incremental changes, change a few things at a time, at most. Setbacks can happen, be consistent with your effort.
The main takeaway from the book seems to be the Authors jewish wokeness, lack of understanding of basic trading principles, unnecessarily long explanations and too much time wasted on diagnosis instead of solutions :
- The Author constantly makes references to his worldview, the diversity of "La Guardia" that is so challenging and enriching. He mentions rabbis, Victor Frankl, Ayn Rand and other Jewish propagandists.
- His jewish wokeness made him describe all examples with "her" and "she" which makes the entire book more confusing.
- His lack of understanding of trading fundamentals make him give advice like : "don't try to make more than the 40% the best Hedge Fund average" its supposedly unrealistic. Yeah, what a great idea you fucking idiot, just limit your assymetry, which is what trading is all about.
Ambition means safety in trading.
Great idea, buddy. promote self limiting believes, so that people never really generate a difference between their risk and reward.
- The Author does not understand the importance of a trading system, I don't think he is a profitable trader.
I've had years where I've made 3200%, I know people personally that have made more than 700% yearly, consistently.
This book has been a net negative for me. Thank God I didn't listen to it as a beginner, it would have created a lot of confusion.
The stereotype of the jewish lecturer is at full display, you will never see or hear from these people any support for Christian white males, who are the ones that actually buy his shitty book and pay him undeserved amounts of money for his consulting Business to Hedge Funds and Prop trading firms.
October 22, 2021
Oh well, all the marketing, promotions and noises aside, Dr. Steenbarger indeed offered numerous actionable ideas and concepts in this book. Granted most of the ideas in the book are not original but he did a great job by repeating certain ideas many times. Repetition often times does work in order to instil certain things concretely inside the brain, it is the same as muslce strength.
As one of the, if not the most prominent trading psychologist in the business, the author offered great advices in the book. It can be extremely repetitive at times however this book is not meant to be read in one setting. Read it at your own pace and am sure one will catch something new each time. Another quite annoying bit about the book is no doubt the self-promoting bit about his blog and services. As long as you have the patience to sit through and get the gists from this book, it is more than enough for your personal growth, most particularly the emotional and psychological aspect. As well as being an affiliate with SMB Capital, avoid paying ANY body or institution with any services or workshops or courses or whatever BS they are trying to offer you. There is no secret in this field just like any other business, as long as you are self aware and knows how to master your emotions and keep you ego at the door. Everybody is trying to suck a buck off you in this business. Just read the book and it can be very useful to your overall performance.
Overall, a highly recommended or compulsory read for all short term traders of any financial instruments. A solid 4.5/5 rounding up because personally, I will be rereading certain chapters/lessons from the book.
As one of the, if not the most prominent trading psychologist in the business, the author offered great advices in the book. It can be extremely repetitive at times however this book is not meant to be read in one setting. Read it at your own pace and am sure one will catch something new each time. Another quite annoying bit about the book is no doubt the self-promoting bit about his blog and services. As long as you have the patience to sit through and get the gists from this book, it is more than enough for your personal growth, most particularly the emotional and psychological aspect. As well as being an affiliate with SMB Capital, avoid paying ANY body or institution with any services or workshops or courses or whatever BS they are trying to offer you. There is no secret in this field just like any other business, as long as you are self aware and knows how to master your emotions and keep you ego at the door. Everybody is trying to suck a buck off you in this business. Just read the book and it can be very useful to your overall performance.
Overall, a highly recommended or compulsory read for all short term traders of any financial instruments. A solid 4.5/5 rounding up because personally, I will be rereading certain chapters/lessons from the book.
December 8, 2022
Brett as a clinical psychologist, academic and part time trader gives great, invaluable ideas in this book, conceptualizing concepts of human behavior patterns, human psyche and how it affects performance in financial markets where nothing is certain.
I am sure and it’s not something Brett even hides, most of the content in the book you can find on the internet free, and he even included links to his blogs. Books value, however, does not come from something new, groundbreaking and disruptive, but simply from composing well known ideas and content that may be scattered throughout the world-wide-web.
Book has few chapters with insights from prop firm traders, managers and other trading professionals, which filled nicely with book content, ideas and concepts in previous chapters.
Book in my opinion falls under “must-read” category for beginning trader.
I am sure and it’s not something Brett even hides, most of the content in the book you can find on the internet free, and he even included links to his blogs. Books value, however, does not come from something new, groundbreaking and disruptive, but simply from composing well known ideas and content that may be scattered throughout the world-wide-web.
Book has few chapters with insights from prop firm traders, managers and other trading professionals, which filled nicely with book content, ideas and concepts in previous chapters.
Book in my opinion falls under “must-read” category for beginning trader.
December 20, 2019
You can get value from this book even if you're not a trader (I'm not), it gives you tools to work under pressure in a landscape without any reasonable level of certainty or predictability.
This book was better than expected, I listened to the audiobook and that's not the ideal way to read this book. Like the author points out, it's a book to pick up and read a chapter for the inspiration you need at that moment. That said it was very enjoyable to listen to except for the xls formulas in some of the final tips. The narrator Joel Pierson was excellent!
This book was better than expected, I listened to the audiobook and that's not the ideal way to read this book. Like the author points out, it's a book to pick up and read a chapter for the inspiration you need at that moment. That said it was very enjoyable to listen to except for the xls formulas in some of the final tips. The narrator Joel Pierson was excellent!
January 31, 2023
I tried reading this book at the very beginning of my trading journey before I encountered struggles/learning curves/successes and drawdowns. I thought it was so pointless and abandoned the read…..
Returning to this again, with experience behind my back… wow. A pretty good book, with plenty of gems and ideas and genuinely good advice.
The last chapters when they were teaching how to use excel was a bit useless and had to be skipped but over all I am not disappointed.
Returning to this again, with experience behind my back… wow. A pretty good book, with plenty of gems and ideas and genuinely good advice.
The last chapters when they were teaching how to use excel was a bit useless and had to be skipped but over all I am not disappointed.
May 5, 2024
One of the classics about trading psychology I read at the start of my trading career.
One thing this book does particularly well is the actionable lessons it instills.
As a lost trader, many books were theoretical, and given the chaotic nature of the overall needed knowledge to succeed in this branch, the actionable items were a fresh and helpful wind.
10 years later many lessons I learned both through reading this type of book and my journey led to a successful trading career.
One thing this book does particularly well is the actionable lessons it instills.
As a lost trader, many books were theoretical, and given the chaotic nature of the overall needed knowledge to succeed in this branch, the actionable items were a fresh and helpful wind.
10 years later many lessons I learned both through reading this type of book and my journey led to a successful trading career.
February 16, 2022
It’s a comprehensive list to do and advice to face my own deepest barriers that play against me in every trade. I totally recommend this book to build an appropriate trader mindset.
By the way, last chapter is not worth at all, a set of Excel tips to data mining in an era full of tools to analyze without build own models.
By the way, last chapter is not worth at all, a set of Excel tips to data mining in an era full of tools to analyze without build own models.
March 12, 2021
I personally found this book incredibly helpful not so much on the actual content itself but the way it prompts you to think about your own trading. This is one of those books that could potentially change a trader's life, especially during pivotal moments in one's trading journey.
This entire review has been hidden because of spoilers.
October 30, 2024
Not even halfway through the book and it's already one of, if not the best trading books I have ever read, and I've read a lot of trading books in my life.
Way better than his other book Psychology of Trading, which in itself is a solid 4/5.
Brett just knows his stuff.
Way better than his other book Psychology of Trading, which in itself is a solid 4/5.
Brett just knows his stuff.
December 10, 2017
This book is one of, if not the best trading book I have come across in my few years of research.
May 19, 2018
Essential for day traders in the heavily populated algorithm trading world. These are the lessons that separate professionals from the wannabes.
February 12, 2020
Very easy to read and good points. Sadly, it tries to cover a lot and, therefore, there is no concise point to extract from the book.
I really liked the topic of Heart Math.
A quote full of wisdom: "Traders often think they're managing a trade when they exit prematurely, when in fact they're managing their thoughts and feelings about that trade".
I really liked the topic of Heart Math.
A quote full of wisdom: "Traders often think they're managing a trade when they exit prematurely, when in fact they're managing their thoughts and feelings about that trade".
June 13, 2020
I left this one on goodreads longer than I read it, as it is one I come back to often.
May 18, 2021
Great if you are into Day Trading
November 24, 2022
not what I expected but i enjoy it anyway
February 18, 2023
best book I've read so far for psychodynamic and reframing your mind for trading stocks
January 13, 2024
4.5/5 Very good book on audio for me. It can be as a reminder for intermediate or experience traders and also will help beginners along side other books and resources.
September 24, 2024
Recommend this book to everyone getting into trading
February 6, 2023
This book was good but should have been half the size. The last 3rd of this book is almost pointless
Displaying 1 - 25 of 25 reviews