Enhancing Trader Performance, Dr. Steenbarger
Summary: An introduction in utilizing psychology to enhance one’s trading performance. Real life examples and practical advices are provided throughout the book that I find useful. Highly recommended.
Enhancing Trader Performance – Proven Strategies from the Cutting Edge of Trading Psychology
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Unlike the first book The Psychology of Trading, Dr. Steenbarger ventures into disciplines outside of trading to seek for solutions for traders to improve their trading performances.
Dr. Steenbarger does not blame a person’s trading failures on the person’s character. He has a much more objective approach in identifying a person’s strengths and weaknesses that help pointing one self at the right trading style combined with the right trading instrument to get consistent success with trading.
Reading the book, you will find examples of real life traders on how they overcome difficulties in trading and what to watch out for as a sign of failing to stay consistent with the winning combination you may already discovered.
For example, after reading the book, I have a much deeper understanding on why I like to trade semi-mechanically, as oppose to fully mechanical (which I can) or fully discretionary. I understand myself much better in terms of my own trading psychology. It helps a lot to make me stay focus in my current trading style, since I have traded everything with almost every trading style before. Thus I should know what works best for me.
I find the book very interesting to read and would like to recommend the book to everyone in the trading business.
p.s. Dr. Steenbarger has a personal website that you may want to visit.