The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist

Front Cover
John Wiley & Sons, Mar 16, 2009 - 368 pages
5 Reviews

Praise for The Daily Trading Coach

"A great book! Simply written, motivational with unique content that leads any trader, novice or experienced, along the path of self-coaching. This is by far Dr. Steenbarger's best book and a must-have addition to any trader's bookshelf. I'll certainly be recommending it to all my friends." --Ray BarrosCEO, Ray Barros Trading Group

"Dr. Steenbarger has been helping traders help themselves for many years. Simply put, this book is a must-read for anyone who desires to achieve great success in the market." --Charles E. KirkThe Kirk Report

"'Dr. Brett', as he is affectionately known by his blog readers, has assembled a practical guide to self coaching in this excellent book. The strategies he outlines are further enhanced with numerous resources and exercises for the reader to refer to and keep the principles fresh. I enthusiastically encourage anyone interested in bettering their trading and investing to read this book and keep it on their desk as a constant source of learning." --Brian Shannon, www.alphatrends.netauthor of Technical Analysis Using Multiple Timeframes

"Dr. Brett has distilled his years of experience, as both a trader and a psychologist/coach, into the 101 practical lessons found in The Daily Trading Coach. Those lessons provide effective strategies for coping with the stumbling blocks that traders often face. This book should be a cornerstone of any serious trader's library." --Michael Seneadzaequities trader and blogger at


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Review: The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist

User Review  - Jacqui Allen - Goodreads

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. Read full review

The Daily Trading Coach

User Review  - chumpchange1 -

I found many examples in text to assist me in working through my trading issues. There were innovative measures designed to work with the trader and change ones mindset in a positive manner. The ... Read full review


Introduction 1
Psychological Visibility and Your Relationship
Transform Emotion by TraceFormation 14
Change Our Focus 20
Five Best Practices for Effecting
Antidotes for Toxic Trading Assumptions 37
Schemas of the Mind 164
Use Feeling to Understand Your Thinking 167
Learn from Your Worst Trades 170
Use a Journal to Restructure Our Thinking 172
Disrupt Negative Thought Patterns 176
Reframe Negative Thought Patterns 179
Use Intensive Guided Imagery to Change Thought Patterns 182
Challenge Negative Thought Patterns with the Cognitive Journal 185

What Causes the Distress That Interferes with Trading Decisions? 40
Keep a Psychological Journal 43
Pressing When You Try Too Hard to Make Money 45
When Youre Ready to Hang It Up 48
What to Do When Fear Takes Over 51
Performance Anxiety The Most Common Trading Problem 54
Square Pegs and Round Holes 58
Volatility of Markets and Volatility of Mood 61
Resources 64
Build Your Happiness 71
Get into the Zone 73
Trade with Energy 77
Intention and Greatness Exercise the Brain through Play 79
Cultivate the Quiet Mind 83
Build Emotional Resilience 86
Integrity and Doing the Right Thing 89
Maximize Confidence and Stay with Your Trades 91
CopingTurn Stress into WellBeing 95
Resources 97
Recognize Your Patterns 103
Establish Costs and Benefits to Patterns 106
Set Effective Goals 109
Build on Your Best Maintain a Solution Focus 111
Disrupt Old Problem Patterns 114
Build Your Consistency by Becoming RuleGoverned 118
Relapse and Repetition 121
Create a Safe Environment for Change 123
Use Imagery to Advance the Change Process 126
Resources 130
Psychodynamic Frameworks for SelfCoaching 131
Psychodynamics Escape the Gravity of Past Relationships 132
Crystallize Our Repetitive Patterns 135
Challenge Our Defenses 138
Once Again with Feeling Get Distance from Your Problem Patterns 141
Make the Most Out of Your Coaching Relationship 144
Find Positive Trading Relationships 147
Tolerate Discomfort 150
Master Transference 153
The Power of Discrepancy 156
Working Through 158
Resources 161
Cognitive Approaches to SelfCoaching 163
Conduct Cognitive Experiments to Create Change 188
Build Positive Thinking 190
Resources 193
Behavioral Approaches
Understand Your Contingencies 196
Identify Subtle Contingencies 199
Harness the Power of Social Learning 201
Shape Your Trading Behaviors 204
The Conditioning of Markets 207
The Power of Incompatibility 211 Lesson 67 Build on Positive Associations 214
Extend Exposure Work to Build Skills 220
Resources 226
Coaching Your Trading
Plan Your Trading Business 231
Diversify Your Trading Business 233
Track Your Trading Results 236
Advanced Scorekeeping for Your Trading Business 240
Track the Correlations of Your Returns 244
Calibrate Your Risk and Reward 248
The Importance of Execution in Trading 250
Think in ThemesGenerating Good Trading Ideas 254
Manage the Trade 257
Resources 259
Resources and Perspectives on SelfCoaching 261
I Alone Am Responsible 264
Cultivate SelfAwareness 271
Mentor Yourself for Success 275
Keep Detailed Records 279
Learn to Be Fallible 283
The Power of Research 286
Attitudes and Goals the Building Blocks of Success 290
A View from the Trading Firms 295
Use Data to Improve Trading Performance 300
Resources 305
Finding Historical Patterns in Markets 307
Use Historical Patterns in Trading 308
Frame Good Hypotheses with the Right Data 310
Excel Basics 313 Lesson 94 Visualize Your Data 317 Lesson 95 Create Your Independent and Dependent Variables 320
Conduct Your Historical Investigations 324
Code the Data 327
For More on SelfCoaching 341

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About the author (2009)

Brett N. Steenbarger, PhD, is Associate Professor of Psychiatry and Behavioral Sciences at SUNY Upstate Medical University in Syracuse, New York. An active trader and author of the popular TraderFeed blog, Steenbarger coaches traders in hedge funds, proprietary trading groups, and investment bank settings. He is also the author of the Wiley titles Enhancing Trader Performance and The Psychology of Trading. Steenbarger received a BS from Duke University and a PhD in clinical psychology from the University of Kansas.

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